Examples of Charging Company in a sentence
Any surplus shall be paid to the relevant Charging Company or other person entitled to it.
The Agent (acting on the instructions of the Lenders) may require that any Group Company becomes a Charging Company by giving to Ideal not less than 10 business days' notice, provided that any Group Company which has acceded to this Agreement as an Additional Borrower shall, unless the Agent otherwise agrees, automatically be required to become a Charging Company without the need for the Agent to serve a notice under this clause 4.
For the avoidance of doubt, any Additional Borrower shall, unless the Agent otherwise agrees, automatically be required also to become a Charging Company pursuant to clause 4, without the need for the Agent to serve a further notice in accordance with clause 4.
Each Charging Company shall, if requested by the Interim Security Agent, deliver (or procure delivery to the Interim Security Agent of), and the Interim Security Agent shall be entitled to hold and retain, all deeds, certificates and other documents (if any) constituting or evidencing title relating to any material freehold property owned by that Charging Company and subject to the Security created by sub-clause 3.1.1 of Clause 3.1 (Fixed charges).
For the avoidance of doubt, the Interim Security Agent shall not be liable to any party for the failure by a Charging Company to perfect any Security.
Each Charging Company shall ratify and confirm all things done and all documents executed by any attorney in the exercise or purported exercise of all or any of his powers, in each case except to the extent the attorney in its name is acting negligently, with wilful misconduct or in breach of law or the terms of the Interim Documents.
No Charging Company shall create or permit to subsist any Security over any Charged Property, other than any Security which is not expressly prohibited by the Interim Facilities Agreement.
Each Charging Company covenants with the Interim Security Agent (as Interim Security Agent for itself and on behalf of the Interim Finance Parties) that it shall on demand of the Interim Security Agent discharge each of the Secured Obligations on their due date in accordance with their respective terms (or, if they do not specify a time for payment, immediately on demand by the Interim Security Agent).
The obligations of each Charging Company under this Debenture shall be in addition to the covenants for title deemed to be included in this Debenture by virtue of Part 1 of the Law of Property (Miscellaneous Provisions) Xxx 0000.
Each Charging Company waives any right it may have of first requiring any Interim Finance Party (or any security trustee or agent on its behalf) to proceed against or enforce any other rights or Security or claim payment from any person before claiming from any Charging Company under this Debenture.