Common use of Security Publicity Formalities Clause in Contracts

Security Publicity Formalities. The Bank shall have the right (but not the obligation) to make for, on behalf and at the expense of the Borrower and/or the Guarantor, as the case may be, any publicity formalities for the Securities established in its favour under the Credit Facility Agreement, no power of attorney, authorization or instruction to authorize from them being required. The Bank is also authorized to debit Borrower’s account with the equivalent value of the amounts paid by the Bank as per the above.

Security Publicity Formalities. The Bank shall have the right (but not the obligation) to make for, on behalf and at the expense of the Borrower and/or the Guarantor, as the case may be, any publicity formalities for the Securities established in its favour under the Credit Facility Agreement, no power of attorney, authorization or instruction to authorize from them being required. The Bank is also authorized to debit Borrower’s 's account with the equivalent value of the amounts paid by the Bank as per the above.