Mortgage of / Charge over Securities

Security for Loan Agreement

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Description:

The Mortgage of Securities is given by the Mortgagor to a Lender as security for a Loan under a Loan Agreement.

By a Loan Agreement the Borrower, the Mortgagor, and the Lender, the Lender has agreed upon and subject to the terms there set out to make available to the Borrower a loan facility and by a guarantee, the Mortgagor has agreed to guarantee the liabilities of the Borrower thereunder.

The Mortgagor covenants with the Lender that it will on demand pay to the Lender and discharge all moneys and liabilities whatsoever which now are or at any time hereafter (whether on or after any such demand) may be come due, owing or payable, in any currency, to the Lender by the Mortgagor, actually or contingently, solely or jointly and/or severally with another or others, as principal or surety, on any current or other account, with reference to any bill, note or other security, in connection with any advance, loan, credit, instrument, guarantee or indemnity made or issued to, for or at the request of the Mortgagor or in any other manner whatsoever, including all amounts which may become payable or for which the Mortgagor may become liable under this Mortgage and all commission, discount and all banking, legal and other costs, charges and expenses whatsoever (on a full indemnity basis) and also all losses and damages that may be sustained, suffered or incurred by the Lender arising out of or in connection with any act, matter or thing done or to be done by the Mortgagor under this Mortgage or any document, arrangement or agreement between the Mortgagor and the Lender or any disclaimer of any of its contracts, agreements or arrangements or any of its liabilities or obligations to the Lender, and interest on the foregoing from the date of demand for payment being made until the date of actual payment or discharge.

Interest shall be payable at such rate or rates and upon such terms as may from time to time be agreed, or, failing agreement at such rate or rates as may be notified by the Lender to the Mortgagor and interest shall be computed and compounded according to the usual practice for the time being of the Lender and shall be payable as well after as before any demand made, judgment obtained or liquidation or administration of the Mortgagor.

The Mortgagor, with full title guarantee, hereby assigns and transfers absolutely by way of first fixed mortgage and agrees to mortgage and charges and agrees to charge to the Lender as a continuing security for the payment and discharge of the Secured Amounts:

(a) the Original Securities;

(b) any other securities which the Mortgagor may, with the prior written consent of the Lender, from time to time substitute for all or any of the Original Securities; and

(c) all other securities and all rights, moneys (including, without limitation, dividends) and property whatsoever which may from time to time at any time be derived from, accrue on or be offered in respect of the Original Securities or the other securities whether by way of redemption, exchange, conversion, rights, bonus, capital reorganisation or otherwise howsoever.

Document Type:

Deed /poa / authorisation / agency / escrow

Category:

Business > Banking and Finance > Security Documents & Equitable Mortgage

 
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