Common use of Terms of Debentures Clause in Contracts

Terms of Debentures. 2.5.1 The terms and conditions pertaining to the Debentures contained in this Deed, the Information Memorandum and the other Debenture Documents (“Terms of the Debentures”) shall be binding on the Company and the Company covenants to the Debenture Holders and all Persons claiming by, through or under any of them that they shall comply with the Terms of the Debentures in a strict manner. The Debenture Trustee shall be entitled to enforce the obligations of the Company under or pursuant hereto and thereto in accordance with the terms hereof and thereof. 2.5.2 All the Debentures and all monies payable thereon shall, as between the Debenture Holders, rank pari passu without any preference or priority whatsoever. 2.5.3 The Debentures Holders shall be paid the various monies payable to them in accordance with this Deed and other Debenture Documents and without prejudice to the aforesaid the Debenture Holders shall be paid the Amounts Due on the Debenture Payment Dates. All payments to be made by the Issuer to any Debenture Holders under the Debenture Documents are exclusive of all Taxes, other than any Taxes on income which income taxes may be deducted at source if required under Applicable Law, provided that the Issuer delivers to the Debenture Holders and Debenture Trustee tax withholding or tax deduction certificates in respect of such withholding or deduction within 30 (thirty) days from the end of the relevant quarter in which such withholding/deduction was made, evidencing that such amounts have been paid to/deposited with the relevant Governmental Authority. If such certificates are not provided/delivered on or before the expiry of the aforementioned period, then such deducted sums shall be considered as not having been paid. Provided that a Debenture Holder may seek an exemption from tax deduction at source or seek a lower rate of tax deduction at source on payments required to be made to such Debenture Holder under the Debenture Documents (save for interest payable on application money received), if applicable, by furnishing the relevant exemption/remission certificate/document at the office of the Registrar to the Issue and to the Issuer at least 30 (thirty) days before the relevant Debenture Payment Date and if required, annually thereafter and/or at such other intervals as may be required by the Issuer. Provided further that the Debenture Holders seeking an exemption from tax deduction at source or seeking a lower rate of tax deduction at source with respect to the interest payable on the application money received are required to furnish the relevant exemption certificate/document at the time of filing the application form as prescribed in the Information Memorandum. 2.5.4 The Debentures are being issued in terms of this Deed.