Subsequent Encumbrances. If the Lender receives notice (actual or otherwise) of any subsequent Encumbrance, assignment or other disposition affecting the Charged Assets or any interest in the Charged Assets or the proceeds of sale thereof, the Lender shall be deemed to have opened a new account when such notice was received and as from that time all payments in respect of or on account of the Secured Obligations shall be deemed to have been credited to the new account and shall not, as between the Chargor and the Lender, operate to reduce the amount of the Secured Obligations outstanding when such notice was received.
Subsequent Encumbrances. If the Agent receives notice of any subsequent Encumbrance (other than any Permitted Encumbrance) affecting the Vessel or all or any part of the Insurances, Earnings or Requisition Compensation, the Agent may open a new account in its books for the Borrower. If the Agent does not open a new account, then (unless the Encumbrance is a Permitted Encumbrance or the Agent gives written notice to the contrary to the Borrower) as from the time of receipt by the Agent of notice of such subsequent Encumbrance, all payments made to the Agent shall be treated as having been credited to a new account of the Borrower and not as having been applied in reduction of the Lender Indebtedness.
Subsequent Encumbrances. If the Premises are not encumbered by an Encumbrance as of the Effective Date, then with respect to any subsequent Encumbrance, this Lease will not be subject or subordinate to any such Encumbrance unless and until Landlord is able to deliver to Tenant a SNDA from the applicable Encumbrance Holder on a form reasonably acceptable to Tenant; provided, however, that Tenant will negotiate in good faith in connection with the form and substance of such SNDA.
Subsequent Encumbrances. You agree not to enter into, cause or permit an encumbrance (as defined under Meaning of terms used at the end of these terms) affecting in any way the property, including charging or encumbering the property, without our prior written consent. As a condition of our consent, we will require the holder of the encumbrance to provide us with and register against the property at your expense a postponement and subordination agreement in accordance with our own standard form. In the event of a breach of this provision you and the holder of the encumbrance agree that any advances under the encumbrance will not have priority over the mortgage or advances under the mortgage which are made before or after the breach of this provision.
Subsequent Encumbrances. If the Security Agent (acting in its capacity as Security Agent or otherwise) or any of the other Secured Parties at any time receives or is deemed to have received notice of any subsequent Encumbrance affecting all or any part of the Charged Property or any assignment or transfer of the Charged Property which is prohibited by the terms of this Deed or the Facility Agreement, all payments thereafter by or on behalf of the Chargor to the Security Agent (whether in its capacity as Security Agent or otherwise) or any of the other Secured Parties shall be treated as having been credited to a new account of the Chargor and not as having been applied in reduction of the Secured Liabilities as at the time when the Security Agent received such notice.
Subsequent Encumbrances. (a) If the Security Trustee at any time receives notice of any subsequent mortgage, assignment, charge or other interest affecting all or any part of the Assigned Rights, all payments thereafter made by the Company to the Security Trustee or any of the Beneficiaries shall be treated as having been credited to a new account of the Company and not as having been applied in reduction of the Secured Obligations as at the time when the Security Trustee received notice.
(b) All monies received, recovered or realised by the Security Trustee under this Assignment (including the proceeds of any conversion of currency) may in its discretion be credited to and held in any interest-bearing suspense account pending their application from time to time in or towards the discharge of any of the Secured Obligations.
Subsequent Encumbrances. If any Beneficiary receives notice of any subsequent Encumbrance affecting the Charged Assets or any part thereof, such Beneficiary may open a new account for the Chargor concerned but if it does not do so then unless such Beneficiary gives express written notice to the contrary to the Chargor concerned it shall nevertheless be treated as if it had opened a new account at the time when it received such notice and as from that time all payments made by or on behalf of the Chargor concerned to such Beneficiary shall be credited or be treated as having been credited to the new account and shall not operate to reduce the amount due from that Chargor to such Beneficiary at the time when it received such notice.
Subsequent Encumbrances. Each Joint Venturer covenants with each other Joint Venturer that any other Encumbrance given, entered into or incurred by it over the whole or any part of the Charged Property, whether fixed or floating, other than any Permitted Security, will acknowledge and provide for the priority of and be subject to the Charges.
Subsequent Encumbrances. If, following the Closing Date, the Chargor decides to secure any further financing against the Property (herein referred to as “Additional Financing”), it shall notify the Chargee in writing of such Additional Financing. The Chargor hereby agrees that it shall only be entitled to secure such Additional Financing so long as the Chargor obtains a postponement from the lender of such Additional Financing wherein the lender under the Additional Financing agrees to postpone its interests to this Charge and Security.
Subsequent Encumbrances. The grant of any easements or use restrictions that might diminish or impair the conservation values of the Property or are otherwise inconsistent with the Statement of Purpose of this Easement is prohibited.
