Common use of Mortgaging Clause in Contracts

Mortgaging. a) The SPD shall not transfer, assign, let, underlets, sublet, license, mortgage, charge, encumber or part with the possession of the Demised Premises or any part thereof or any interest therein without prior permission of GPCL. b) For the purpose of constructing the Plant on the Demised Premises, if the SPD intends to obtain loan from a bank or other financial institutions by mortgaging their lease hold interest in the Demised Premises in favor of such bank or institution, prior permission of GPCL shall be obtained. However such mortgage shall not affect the rights and powers of GPCL under this Agreement and Lease Agreement c) While granting such permission, GPCL shall also seek permission / No Objection Certificate (NOC) from Power Procurer i.e GUVNL. However, such NOC shall not be construe as “NOC” from GPCL/SPIA

Mortgaging. a) The SPD shall not transfer, assign, let, underlets, sublet, license, mortgage, charge, encumber or part with the possession of the Demised Premises or any part thereof or any interest therein without prior permission of GPCLGSECL. b) For the purpose of constructing the Plant on the Demised Premises, if the SPD intends to obtain loan from a bank or other financial institutions by mortgaging their lease hold interest in the Demised Premises in favor of such bank or institution, prior permission of GPCL GSECL shall be obtained. However such mortgage shall not affect the rights and powers of GPCL GSECL under this Agreement and Lease Agreement c) While granting such permission, GPCL GSECL shall also seek permission / No Objection Certificate (NOC) from Power Procurer i.e GUVNL. However, such NOC shall not be construe construed as “NOC” from GPCLGSECL/SPIASPPD

Mortgaging. a) The SPD shall not transfer, assign, let, underlets, sublet, license, mortgage, charge, encumber or part with the possession of the Demised Premises or any part thereof or any interest therein without prior permission of GPCL. b) For the purpose of constructing the Plant on the Demised Premises, if the SPD intends SPDintends to obtain loan from a bank or other financial institutions by mortgaging their lease hold interest in the Demised Premises in favor of such bank or institution, prior permission of GPCL shall be shallbe obtained. However such mortgage shall not affect the rights and powers of GPCL under this Agreement and Lease Agreement c) While granting such permission, GPCL shall also seek permission / No Objection Certificate ObjectionCertificate (NOC) from Power Procurer i.e GUVNL. However, such NOC shall not be construe as “NOC” from GPCL/SPIA