Common use of Clauses 22 Clause in Contracts

Clauses 22. 4.1 and 22.4.2 do not apply to the following Security (each a Permitted Encumbrance): (a) any Security given or purported to be given as Transaction Security; (b) any Security referred to in paragraph 6 of Schedule 10 (Disclosure Schedule) given as at the Signature Date; (c) any lien arising by operation of law and in the ordinary course of trading, and not as a result of any default or omission by any member of the Group; (d) any netting or set-off arrangement entered into by any member of the Group with an Approved Bank in the ordinary course of its banking arrangements for the purpose of netting debit and credit balances, but only if the arrangement does not permit credit balances of Obligors to be netted with debit balances of members of the Group which are not Obligors; (e) any netting of payments under a Permitted Treasury Transaction (including netting on a close-out of a Permitted Treasury Transaction); (f) any Security over or affecting any asset acquired by a member of the Group after the Signature Date if: (i) the Security was not created in contemplation of the acquisition of that asset by a member of the Group; (ii) the principal amount secured has not been increased in contemplation of or since the acquisition of that asset by a member of the Group; and (iii) the Security is removed or discharged within 3 months of the date of acquisition of such asset; (g) any Security over or affecting any asset of any company which becomes a member of the Group after the Signature Date where the Security is created prior to the date on which that company becomes a member of the Group, if: (i) the Security was not created in contemplation of the acquisition of that company; (ii) the principal amount secured has not been increased in contemplation of or since the acquisition of that company; and (iii) the Security is removed or discharged within 3 months of the date of that company becoming a member of the Group; (h) any Security arising under: (i) a finance or capital lease; or (ii) any retention of title, hire purchase or conditional sale arrangement; or (iii) arrangements having a similar effect in respect of goods supplied to a member of the Group in the ordinary course of trading and on the supplier's standard or usual terms and not as a result of any default or omission by any member of the Group; (i) any Security over any rental deposits in respect of immovable property where the relevant lease was entered into in the ordinary course of business and on arm's length terms; (j) any Security arising as a result of a Permitted Disposal; (k) any Security arising as a consequence of any finance lease permitted pursuant to Clause 22.5.5 (Financial indebtedness) or any Security securing any liabilities under any Permitted Guarantee permitted pursuant to Clauses 22.12.2 to 22.12.10 (Third party guarantees) (inclusive), provided that, at any applicable time: (i) the aggregate value of any such Security contemplated in this Clause shall not exceed R25,000,000; and (ii) the aggregate value of such Security, when aggregated with (A) the aggregate actual or contingent liability of the members of the Group under all outstanding guarantees which are permitted under Clause 22.12.2 to 22.12.10 (Third party guarantees) (inclusive) at that time and (B) the aggregate Financial Indebtedness of all members of the Group permitted under Clauses 22.5.2 to 22.5.9 (Financial Indebtedness) (inclusive)) at that time, shall not exceed R600,000,000 (or its equivalent in any other currency); or (l) any Security expressly permitted in writing by the Facility Agent.

Clauses 22. 4.1 and 22.4.2 do not apply to the following Security (each a Permitted Encumbrance): (a) any Security given or purported to be given as Transaction Security; (b) any Security referred to in paragraph 6 of Schedule 10 (Disclosure Schedule) given as at the Signature Date; (c) any lien arising by operation of law and in the ordinary course of trading, and not as a result of any default or omission by any member of the Group; (d) any netting or set-off arrangement entered into by any member of the Group with an Approved Bank in the ordinary course of its banking arrangements for the purpose of netting debit and credit balances, but only if the arrangement does not permit credit balances of Obligors to be netted with debit balances of members of the Group which are not Obligors; (e) any netting of payments under a Permitted Treasury Transaction (including netting on a close-out of a Permitted Treasury Transaction); (f) any Security over or affecting any asset acquired by a member of the Group after the Signature Date if: (i) the Security was not created in contemplation of the acquisition of that asset by a member of the Group; (ii) the principal amount secured has not been increased in contemplation of or since the acquisition of that asset by a member of the Group; and (iii) the Security is removed or discharged within 3 months of the date of acquisition of such asset; (g) any Security over or affecting any asset of any company which becomes a member of the Group after the Signature Date where the Security is created prior to the date on which that company becomes a member of the Group, if: (i) the Security was not created in contemplation of the acquisition of that company; (ii) the principal amount secured has not been increased in contemplation of or since the acquisition of that company; and (iii) the Security is removed or discharged within 3 months of the date of that company becoming a member of the Group; (h) any Security arising under: (i) a finance or capital lease; or (ii) any retention of title, hire purchase or conditional sale arrangement; or (iii) arrangements having a similar effect in respect of goods supplied to a member of the Group in the ordinary course of trading and on the supplier's standard or usual terms and not as a result of any default or omission by any member of the Group; (i) any Security over any rental deposits in respect of immovable property where the relevant lease was entered into in the ordinary course of business and on arm's length terms; (j) any Security arising as a result of a Permitted Disposal; (k) any Security arising as a consequence of any finance lease permitted pursuant to Clause 22.5.5 (Financial indebtedness) or any Security securing any liabilities under any Permitted Guarantee permitted pursuant to Clauses 22.12.2 to 22.12.10 (Third party guarantees) (inclusive), provided that, at any applicable time: (i) the aggregate value of any such Security contemplated in this Clause shall not exceed R25,000,000; and (ii) the aggregate value of such Security, when aggregated with (A) the aggregate actual or contingent liability of the members of the Group under all outstanding guarantees which are permitted under Clause 22.12.2 to 22.12.10 (Third party guarantees) (inclusive) at that time and (B) the aggregate Financial Indebtedness of all members of the Group permitted under Clauses 22.5.2 to 22.5.9 (Financial Indebtedness) (inclusive)) at that time, shall not exceed R600,000,000 (or its equivalent in any other currency); or (l) any Security expressly permitted in writing by the Facility Agent.

Clauses 22. 4.1 and 22.4.2 do not apply to the following Security (each a Permitted Encumbrance): (a) any Security given or purported to be given as Transaction Security; (b) any Security referred to in paragraph 6 Error! Reference source not found. of Schedule 10 (Disclosure Schedule) given as at the Signature Date; (c) any lien arising by operation of law and in the ordinary course of trading, and not as a result of any default or omission by any member of the Group; (d) any netting or set-off arrangement entered into by any member of the Group with an Approved Bank in the ordinary course of its banking arrangements for the purpose of netting debit and credit balances, but only if the arrangement does not permit credit balances of Obligors to be netted with debit balances of members of the Group which are not Obligors; (e) any netting of payments under a Permitted Treasury Transaction (including netting on a close-out of a Permitted Treasury Transaction); (f) any Security over or affecting any asset acquired by a member of the Group after the Signature Date if: (i) the Security was not created in contemplation of the acquisition of that asset by a member of the Group; (ii) the principal amount secured has not been increased in contemplation of or since the acquisition of that asset by a member of the Group; and (iii) the Security is removed or discharged within 3 months of the date of acquisition of such asset; (g) any Security over or affecting any asset of any company which becomes a member of the Group after the Signature Date where the Security is created prior to the date on which that company becomes a member of the Group, if: (i) the Security was not created in contemplation of the acquisition of that company; (ii) the principal amount secured has not been increased in contemplation of or since the acquisition of that company; and (iii) the Security is removed or discharged within 3 months of the date of that company becoming a member of the Group; (h) any Security arising under: (i) a finance or capital lease; or (ii) any retention of title, hire purchase or conditional sale arrangement; or (iii) arrangements having a similar effect in respect of goods supplied to a member of the Group in the ordinary course of trading and on the supplier's standard or usual terms and not as a result of any default or omission by any member of the Group; (i) any Security over any rental deposits in respect of immovable property where the relevant lease was entered into in the ordinary course of business and on arm's length terms; (j) any Security arising as a result of a Permitted Disposal; (k) any Security arising as a consequence of any finance lease permitted pursuant to Clause 22.5.5 (Financial indebtedness) or any Security securing any liabilities under any Permitted Guarantee permitted pursuant to Clauses 22.12.2 to 22.12.10 (Third party guarantees) (inclusive), provided that, at any applicable time: (i) the aggregate value of any such Security contemplated in this Clause shall not exceed R25,000,000; and (ii) the aggregate value of such Security, when aggregated with (A) the aggregate actual or contingent liability of the members of the Group under all outstanding guarantees which are permitted under Clause 22.12.2 to 22.12.10 (Third party guarantees) (inclusive) at that time and (B) the aggregate Financial Indebtedness of all members of the Group permitted under Clauses 22.5.2 to 22.5.9 (Financial Indebtedness) (inclusive)) at that time, shall not exceed R600,000,000 (or its equivalent in any other currency); or (l) any Security expressly permitted in writing by the Facility Agent.