Common use of The Bank Clause in Contracts

The Bank. 11.1 Notwithstanding anything contained in this Deed of Charge, the exercise by the Bank of the powers and rights conferred on it by virtue of the provisions of Chapter 3 of Part 10 of the Conveyancing Act shall not be subject to any restriction on such exercise contained in section 96(1)(c) of the Conveyancing Act, and upon the Enforcement Date this Deed of Charge shall become immediately enforceable and the powers conferred by this Deed of Charge shall become immediately exercisable. 11.2 The restrictions on the power of sale contained in section 100 of the Conveyancing Act shall not apply to this Deed of Charge. The provisions of the Conveyancing Act relating to the power of sale and the other powers conferred by Section 100 of the Conveyancing Act (without the restrictions contained therein) are hereby extended (as if such extensions were contained in the Conveyancing Act) to authorise the Bank at its absolute discretion and upon such terms as it may think fit: (a) to dispose of the Charged Property, or any interest in the same, and to do so for shares, debentures or any other securities whatsoever, or in consideration of an agreement to pay all or part of the purchase price at a later date or dates, or an agreement to make periodical payments, whether or not the agreement is secured by an Encumbrance or a guarantee, or for such other consideration whatsoever as the Bank may think fit, and also to grant any option to purchase, and to effect exchanges, and nothing shall preclude the Bank from making any disposal to any person it thinks fit; (b) with a view to, or in connection with, the disposal of the Charged Property, to carry out any transaction, scheme or arrangement which the Bank may in its absolute discretion consider appropriate; (c) to take possession of, get in and collect the Charged Property and the restrictions on taking possession of mortgaged property contained in section 97 of the Conveyancing Act shall not apply to this Deed of Charge and, further, section 99 (1) of the Conveyancing Act shall not apply to this Deed of Charge and any obligations imposed on mortgagees in possession or receivers by virtue of the application of section 99(1) shall not apply to the Bank or any Receiver; (d) to appoint and engage employees, managers, agents and advisers upon such terms as to remuneration and otherwise and for such periods as it may determine, and to dismiss them; (e) in connection with the exercise, or the proposed exercise, of any of its powers to borrow or raise money from any person, without security or on the security of the Charged Property (either in priority to this security or otherwise) and generally in such manner and on such terms as it may think fit; (f) to bring, defend, submit to arbitration, negotiate, compromise, abandon and settle any claims and proceedings concerning the Charged Property; (g) to transfer all or any of the Charged Property to any other body corporate or company, whether or not formed or acquired for the purpose and whether or not a Subsidiary or associated company of the Bank or a company in which the Bank has an interest; (h) generally to carry out, or cause or authorise to be carried out, any transaction, scheme or arrangement whatsoever, whether similar or not to any of the foregoing, in relation to the Charged Property which it may consider expedient as effectually as if it were solely and absolutely entitled to the Charged Property; (i) in connection with the exercise of any of its powers, to execute or do, or cause or authorise to be executed or done, on behalf of or in the name of the Counterparty or otherwise, as it may think fit, all documents, acts or things in relation to the Charged Property which it may consider appropriate; and (j) to pay and discharge out of the profits and income of the Charged Property and the moneys to be made by it in carrying on any such business as aforesaid the expenses incurred in the exercise of any of the powers conferred by this clause 11.2 or otherwise in respect of the Charged Property and all outgoings which it shall think fit to pay. 11.3 The notification requirement contained in section 103(2) of the Conveyancing Act shall not apply to this Deed of Charge. 11.4 The Bank shall be entitled to rely on the opinion or advice of any professional or financial or other advisers selected by it which is given in connection with this Deed of Charge and shall not be liable to the Counterparty for any of the consequences of such reliance or for relying on any communication or document believed by it to be genuine and correct and to have been communicated or signed by the person by whom it purports to be communicated or signed. 11.5 The Bank shall (save as expressly otherwise provided herein) as regards all rights, powers, authorities and discretions vested in it by this Deed of Charge, or by operation of law, have complete discretion as to the exercise or non-exercise thereof. 11.6 Any consent given by the Bank for the purposes of this Deed of Charge may be given on such terms and subject to such conditions (if any) as the Bank thinks fit and, notwithstanding anything to the contrary contained herein may be given retrospectively. 11.7 The Bank shall not be under any obligation to effect or to require any other person to maintain insurance in respect of any of the Charged Property. If the Bank in its absolute discretion effects insurance in respect of the Charged Property it shall not be subject to the requirements contained in section 110(2) of the Conveyancing Act.

The Bank. 11.1 13.1 Notwithstanding anything contained in this Deed of ChargeDeed, the exercise by the Bank of the powers and rights conferred on it by virtue of the provisions of Chapter 3 of Part 10 of the Conveyancing Act shall not be subject to any restriction on such exercise contained in section 96(1)(c) of the Conveyancing Act, Act and upon the Enforcement Date this Deed of Charge shall become immediately enforceable and the powers conferred on the Bank and any Receiver by this Deed of Charge shall become immediately exercisable. 11.2 13.2 The restrictions on the power of sale contained in section 100 of the Conveyancing Act (and, therefore, the related provisions of section 101 of the Conveyancing Act) shall not apply to this Deed of ChargeDeed. The provisions of the Conveyancing Act relating to the power of sale and the other powers conferred by Section section 100 of the Conveyancing Act (without the restrictions contained therein) are hereby extended (as if such extensions were contained in the Conveyancing Act) to authorise the Bank at its absolute discretion and upon such terms as it may think fit: (a) to sell by public auction or private contract, let, surrender or accept surrenders, grant licences or otherwise dispose of or deal with any of the Charged PropertyAssets, or any interest in the same, and to do so for shares, debentures or any other securities whatsoever, or in consideration of an agreement to pay all or part of the purchase price at a later date or dates, or an agreement to make periodical payments, whether or not the agreement is secured by an Encumbrance or a guarantee, or for such other consideration whatsoever as the Bank may think fit, and also to grant any option to purchase, and to effect exchanges, and nothing shall preclude the Bank from making any disposal to any person it thinks fit; (b) with a view to, or in connection with, the disposal of the Charged PropertyAssets, to carry out any transaction, scheme or arrangement which the Bank may in its absolute discretion consider appropriate; (c) insofar as it does not already have possession thereof, to take possession of, get in and collect the Charged Property Assets and the restrictions on taking possession of mortgaged property contained in section 97 of the Conveyancing Act (and, therefore, the related provisions of section 101 of the Conveyancing Act) shall not apply to this Deed of Charge and, further, section 99 (199(1) of the Conveyancing Act shall not apply to this Deed of Charge and any obligations imposed on mortgagees in possession or receivers by virtue of the application of section 99(1) shall not apply to the Bank or any Receiver; (d) to appoint and engage employees, managers, agents and advisers Delegates upon such terms as to remuneration and otherwise and for such periods as it may determine, and to dismiss them; (e) in connection with the exercise, or the proposed exercise, of any of its powers to borrow or raise money from any person, without security or on the security of the Charged Property Assets (either in priority to this security or otherwise) and generally in such manner and on such terms as it may think fit; (f) to bring, defend, submit to arbitration, negotiate, compromise, abandon and settle any claims and proceedings concerning the Charged PropertyAssets; (g) to transfer all or any of the Charged Property Assets to any other body corporate or companyperson, whether or not formed or acquired for the purpose and whether or not a Subsidiary or associated company of the Bank or a company or other person in which the Bank has an interest; (h) without any consent by or notice to the Counterparty: (i) to exercise on behalf of the Counterparty all the powers and provisions conferred on a landlord or a tenant by any legislation from time to time in force relating to rents or otherwise in respect of any part of the Charged Assets but without any obligation to exercise any of such powers and without any liability in respect of powers so exercised or omitted to be exercised; and (ii) to exercise for and on behalf of the Counterparty and in the name of the Counterparty all powers and rights of the Counterparty relevant to and necessary to effect the registration in the Land Registry or the Registry of Deeds of the crystallisation of the Floating Charge over any Floating Charge Asset and/or the appointment of a Receiver hereunder; (i) generally to carry out, or cause or authorise to be carried out, any transaction, scheme or arrangement whatsoever, whether similar or not to any of the foregoing, in relation to the Charged Property Assets which it may consider expedient as effectually as if it were solely and absolutely entitled to the Charged PropertyAssets; (ij) in connection with the exercise of any of its powers, to execute or do, or cause or authorise to be executed or done, on behalf of or in the name of the Counterparty or otherwise, as it may think fit, all documents, acts or things in relation to the Charged Property Assets which it may consider appropriate; and (jk) to pay and discharge out of the profits and income of the Charged Property Assets and the moneys monies to be made by it in carrying on any such business as aforesaid the expenses incurred by it in the exercise of any of the powers conferred by this clause 11.2 13 or otherwise in respect of the Charged Property Assets and all outgoings which it shall think fit to pay. 11.3 13.3 The notification requirement contained in section 103(2) of the Conveyancing Act shall not apply to this Deed of ChargeDeed. 11.4 13.4 The Bank shall be entitled to rely on the opinion or advice of any professional or financial or other advisers selected by it which is given in connection with this Deed of Charge the Finance Documents or any other Relevant Document pursuant to which Secured Obligations may be incurred and shall not be liable to the Counterparty for any of the consequences of such reliance or for relying on any communication or document believed by it to be genuine and correct and to have been communicated or signed by the person by whom it purports to be communicated or signed. 11.5 13.5 The Bank shall (save as expressly otherwise provided hereinin this Deed) as regards all rights, powers, authorities and discretions vested in it by this Deed of Chargethe Finance Documents or any other Relevant Document pursuant to which Secured Obligations may be incurred, or by operation of law, have complete discretion as to the exercise or non-exercise thereof. 11.6 13.6 Any consent given by the Bank for the purposes of this Deed of Charge the Finance Documents or any other Relevant Document pursuant to which Secured Obligations may be incurred may be given on such terms and subject to such conditions (if any) as the Bank thinks fit and, notwithstanding anything to the contrary contained herein in this Deed, any Finance Document or any other Relevant Document, may be given retrospectively. 11.7 13.7 The Bank shall not be under any obligation to effect or to require any other person to maintain insurance in respect of any of the Charged PropertyAssets. If the Bank in its absolute discretion effects insurance in respect of the Charged Property Assets it shall not be subject to the requirements contained in section 110(2) of the Conveyancing Act.

The Bank. 11.1 Notwithstanding anything contained in this Deed of Charge, the exercise by the Bank of the powers and rights conferred on it by virtue of the provisions of Chapter 3 of Part 10 of the Conveyancing Act shall not be subject to any restriction on such exercise contained in section 96(1)(c) of the Conveyancing Act, and upon the Enforcement Date this Deed of Charge shall become immediately enforceable and the powers conferred by this Deed of Charge shall become immediately exercisable. 11.2 The restrictions on the power of sale contained in section 100 of the Conveyancing Act (and, therefore, the related provisions of section 101 of the Conveyancing Act) shall not apply to this Deed of Charge. The provisions of the Conveyancing Act relating to the power of sale and the other powers conferred by Section section 100 of the Conveyancing Act (without the restrictions contained therein) are hereby extended (as if such extensions were contained in the Conveyancing Act) to authorise the Bank at its absolute discretion and upon such terms as it may think fit: (a) to dispose of the Charged Property, or any interest in the same, and to do so for shares, debentures or any other securities whatsoever, or in consideration of an agreement to pay all or part of the purchase price at a later date or dates, or an agreement to make periodical payments, whether or not the agreement is secured by an Encumbrance or a guarantee, or for such other consideration whatsoever as the Bank may think fit, and also to grant any option to purchase, and to effect exchanges, and nothing shall preclude the Bank from making any disposal to any person it thinks fit; (b) with a view to, or in connection with, the disposal of the Charged Property, to carry out any transaction, scheme or arrangement which the Bank may in its absolute discretion consider appropriate; (c) to take possession of, get in and collect the Charged Property and the restrictions on taking possession of mortgaged property contained in section 97 of the Conveyancing Act (and, therefore, the related provisions of section 101 of the Conveyancing Act) shall not apply to this Deed of Charge and, further, section 99 (1) of the Conveyancing Act shall not apply to this Deed of Charge and any obligations imposed on mortgagees in possession or receivers by virtue of the application of section 99(1) shall not apply to the Bank or any Receiver; (d) to appoint and engage employees, managers, agents and advisers upon such terms as to remuneration and otherwise and for such periods as it may determine, and to dismiss them; (e) in connection with the exercise, or the proposed exercise, of any of its powers to borrow or raise money from any person, without security or on the security of the Charged Property (either in priority to this security or otherwise) and generally in such manner and on such terms as it may think fit; (f) to bring, defend, submit to arbitration, negotiate, compromise, abandon and settle any claims and proceedings concerning the Charged Property; (g) to transfer all or any of the Charged Property to any other body corporate or companyperson, whether or not formed or acquired for the purpose and whether or not a Subsidiary or associated company of the Bank or a company or other person in which the Bank has an interest; (h) without any consent by or notice to the Counterparty, to exercise for and on behalf of the Counterparty and in the name of the Counterparty all powers and rights of the Counterparty relevant to and necessary to effect the registration in the Land Registry or the Registry of Deeds of the crystallisation of the Floating Charge over any Charged Property and/or the appointment of a Receiver hereunder; (i) generally to carry out, or cause or authorise to be carried out, any transaction, scheme or arrangement whatsoever, whether similar or not to any of the foregoing, in relation to the Charged Property which it may consider expedient as effectually as if it were solely and absolutely entitled to the Charged Property; (ij) in connection with the exercise of any of its powers, to execute or do, or cause or authorise to be executed or done, on behalf of or in the name of the Counterparty or otherwise, as it may think fit, all documents, acts or things in relation to the Charged Property which it may consider appropriate; and (jk) to pay and discharge out of the profits and income of the Charged Property and the moneys to be made by it in carrying on any such business as aforesaid the expenses incurred in the exercise of any of the powers conferred by this clause 11.2 or otherwise in respect of the Charged Property and all outgoings which it shall think fit to pay. 11.3 The notification requirement contained in section 103(2) of the Conveyancing Act shall not apply to this Deed of Charge. 11.4 The Bank shall be entitled to rely on the opinion or advice of any professional or financial or other advisers selected by it which is given in connection with this Deed of Charge the Finance Documents and shall not be liable to the Counterparty for any of the consequences of such reliance or for relying on any communication or document believed by it to be genuine and correct and to have been communicated or signed by the person by whom it purports to be communicated or signed. 11.5 The Bank shall (save as expressly otherwise provided hereinherein or therein, as applicable) as regards all rights, powers, authorities and discretions vested in it by this Deed of Chargethe Finance Documents, or by operation of law, have complete discretion as to the exercise or non-exercise thereof. 11.6 Any consent given by the Bank for the purposes of this Deed of Charge the Finance Documents may be given on such terms and subject to such conditions (if any) as the Bank thinks fit and, notwithstanding anything to the contrary contained herein may be given retrospectively. 11.7 The Bank shall not be under any obligation to effect or to require any other person to maintain insurance in respect of any of the Charged Property. If the Bank in its absolute discretion effects insurance in respect of the Charged Property it shall not be subject to the requirements contained in section 110(2) of the Conveyancing Act.

The Bank. 11.1 11.1. Notwithstanding anything contained in this Deed of ChargeDeed, the exercise by the Bank of the powers and rights conferred on it by virtue of the provisions of Chapter 3 of Part 10 of the Conveyancing Act shall not be subject to any restriction on such exercise contained in section 96(1)(c) of the Conveyancing Act, and upon the Enforcement Date this Deed of Charge shall become immediately enforceable and the powers conferred by this Deed of Charge shall become immediately exercisable. 11.2 11.2. The restrictions on the power of sale contained in section 100 of the Conveyancing Act shall not apply to this Deed of Charge. The provisions of the Conveyancing Act relating to the power of sale and the other powers conferred by Section 100 of the Conveyancing Act (without the restrictions contained therein) are hereby extended (as if such extensions were contained in the Conveyancing Act) to authorise the Bank at its absolute discretion and upon such terms as it may think fit: (a) to dispose of the Charged Property, or any interest in the same, and to do so for shares, debentures or any other securities whatsoever, or in consideration of an agreement to pay all or part of the purchase price at a later date or dates, or an agreement to make periodical payments, whether or not the agreement is secured by an Encumbrance or a guarantee, or for such other consideration whatsoever as the Bank may think fit, and also to grant any option to purchase, and to effect exchanges, and nothing shall preclude the Bank from making any disposal to any person it thinks fit; (b) with a view to, or in connection with, the disposal of the Charged Property, to carry out any transaction, scheme or arrangement which the Bank may in its absolute discretion consider appropriate; (c) to take possession of, get in and collect the Charged Property and the restrictions on taking possession of mortgaged property contained in section 97 of the Conveyancing Act shall not apply to this Deed of Charge and, further, section 99 (199(1) of the Conveyancing Act shall not apply to this Deed of Charge and any obligations imposed on mortgagees in possession or receivers by virtue of the application of section 99(1) shall not apply to the Bank or any Receiver; (d) to appoint and engage employees, managers, agents and advisers upon such terms as to remuneration and otherwise and for such periods as it may determine, and to dismiss them; (e) in connection with the exercise, or the proposed exercise, of any of its powers to borrow or raise money from any person, without security or on the security of the Charged Property (either in priority to this security or otherwise) and generally in such manner and on such terms as it may think fit; (f) to bring, defend, submit to arbitration, negotiate, compromise, abandon and settle any claims and proceedings concerning the Charged Property; (g) to transfer all or any of the Charged Property to any other body corporate or company, whether or not formed or acquired for the purpose and whether or not a Subsidiary or associated company of the Bank or a company in which the Bank has an interest; (h) generally to carry out, or cause or authorise to be carried out, any transaction, scheme or arrangement whatsoever, whether similar or not to any of the foregoing, in relation to the Charged Property which it may consider expedient as effectually as if it were solely and absolutely entitled to the Charged Property; (i) in connection with the exercise of any of its powers, to execute or do, or cause or authorise to be executed or done, on behalf of or in the name of the Counterparty or otherwise, as it may think fit, all documents, acts or things in relation to the Charged Property which it may consider appropriate; and (j) to pay and discharge out of the profits and income of the Charged Property and the moneys to be made by it in carrying on any such business as aforesaid the expenses incurred in the exercise of any of the powers conferred by this clause 11.2 or otherwise in respect of the Charged Property and all outgoings which it shall think fit to pay. 11.3 The notification requirement contained in section 103(2) of the Conveyancing Act shall not apply to this Deed of Charge. 11.4 The Bank shall be entitled to rely on the opinion or advice of any professional or financial or other advisers selected by it which is given in connection with this Deed of Charge and shall not be liable to the Counterparty for any of the consequences of such reliance or for relying on any communication or document believed by it to be genuine and correct and to have been communicated or signed by the person by whom it purports to be communicated or signed. 11.5 The Bank shall (save as expressly otherwise provided herein) as regards all rights, powers, authorities and discretions vested in it by this Deed of Charge, or by operation of law, have complete discretion as to the exercise or non-exercise thereof. 11.6 Any consent given by the Bank for the purposes of this Deed of Charge may be given on such terms and subject to such conditions (if any) as the Bank thinks fit and, notwithstanding anything to the contrary contained herein may be given retrospectively. 11.7 The Bank shall not be under any obligation to effect or to require any other person to maintain insurance in respect of any of the Charged Property. If the Bank in its absolute discretion effects insurance in respect of the Charged Property it shall not be subject to the requirements contained in section 110(2) of the Conveyancing Act.Clause

The Bank. 11.1 Notwithstanding anything contained in this Deed of Charge, the exercise by the Bank of the powers and rights conferred on it by virtue of the provisions of Chapter 3 of Part 10 IV of the Conveyancing Act shall not be subject to any restriction on such exercise contained in section 96(1)(c) of as amended by the Conveyancing Act, and Act 1911 upon the Enforcement Date this Deed of Charge shall become immediately enforceable and the powers conferred by this Deed of Charge shall become immediately exercisable. 11.2 The restrictions on the power of sale contained in section 100 sections 19(1)(i), 20, 21(4), 21(6) and 21(7) of the Conveyancing Act and section 5(2) of the Conveyancing Act 1911 shall not apply to this Deed of Charge. The provisions of the Conveyancing Act relating to the power of sale and the other powers conferred by Section 100 sections 19(1)(i), 20, 21(4), 21(6) and 21(7) of the Conveyancing Act and section 5(2) of the Conveyancing Act 1911 (without the restrictions contained therein) are hereby extended (as if such extensions were contained in the Conveyancing ActAct as amended by the Conveyancing Act 1911) to authorise the Bank at its absolute discretion and upon such terms as it may think fit: (a) to dispose of the Charged Property, or any interest in the same, and to do so for shares, debentures or any other securities whatsoever, or in consideration of an agreement to pay all or part of the purchase price at a later date or dates, or an agreement to make periodical payments, whether or not the agreement is secured by an Encumbrance or a guarantee, or for such other consideration whatsoever as the Bank may think fit, and also to grant any option to purchase, and to effect exchanges, and nothing shall preclude the Bank from making any disposal to any person it thinks fit; (b) with a view to, or in connection with, the disposal of the Charged Property, to carry out any transaction, scheme or arrangement which the Bank may in its absolute discretion consider appropriate; (c) to take possession of, get in and collect the Charged Property and the restrictions on taking possession of mortgaged property contained in section 97 of the Conveyancing Act shall not apply to this Deed of Charge and, further, section 99 (1) of the Conveyancing Act shall not apply to this Deed of Charge and any obligations imposed on mortgagees in possession or receivers by virtue of the application of section 99(1) shall not apply to the Bank or any ReceiverProperty; (d) to appoint and engage employees, managers, agents and advisers upon such terms as to remuneration and otherwise and for such periods as it may determine, and to dismiss them; (e) in connection with the exercise, or the proposed exercise, of any of its powers to borrow or raise money from any person, without security or on the security of the Charged Property (either in priority to this security or otherwise) and generally in such manner and on such terms as it may think fit; (f) to bring, defend, submit to arbitration, negotiate, compromise, abandon and settle any claims and proceedings concerning the Charged Property; (g) to transfer all or any of the Charged Property to any other body corporate or company, whether or not formed or acquired for the purpose and whether or not a Subsidiary or associated company of the Bank or a company in which the Bank has an interest; (h) generally to carry out, or cause or authorise to be carried out, any transaction, scheme or arrangement whatsoever, whether similar or not to any of the foregoing, in relation to the Charged Property which it may consider expedient as effectually as if it were solely and absolutely entitled to the Charged Property; (i) in connection with the exercise of any of its powers, to execute or do, or cause or authorise to be executed or done, on behalf of or in the name of the Counterparty or otherwise, as it may think fit, all documents, acts or things in relation to the Charged Property which it may consider appropriate; and (j) to pay and discharge out of the profits and income of the Charged Property and the moneys to be made by it in carrying on any such business as aforesaid the expenses incurred in the exercise of any of the powers conferred by this clause 11.2 or otherwise in respect of the Charged Property and all outgoings which it shall think fit to pay. 11.3 The notification requirement contained in section 103(2) of the Conveyancing Act shall not apply to this Deed of Charge. 11.4 The Bank shall be entitled to rely on the opinion or advice of any professional or financial or other advisers selected by it which is given in connection with this Deed of Charge and shall not be liable to the Counterparty for any of the consequences of such reliance or for relying on any communication or document believed by it to be genuine and correct and to have been communicated or signed by the person by whom it purports to be communicated or signed. 11.5 11.4 The Bank shall (save as expressly otherwise provided herein) as regards all rights, powers, authorities and discretions vested in it by this Deed of Charge, or by operation of law, have complete discretion as to the exercise or non-exercise thereof. 11.6 11.5 Any consent given by the Bank for the purposes of this Deed of Charge may be given on such terms and subject to such conditions (if any) as the Bank thinks fit and, notwithstanding anything to the contrary contained herein may be given retrospectively. 11.7 11.6 The Bank shall not be under any obligation to effect or to require any other person to maintain insurance in respect of any of the Charged Property. If the Bank in its absolute discretion effects insurance in respect of the Charged Property it shall not be subject to the requirements contained in section 110(2sections 19(1)(ii) and 23 of the Conveyancing Act.