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 KSPDCL. 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 KSPDCL shall be obtained. However such mortgage shall not affect the rights and powers of KSPDCL under this Agreement.
Appears in 3 contracts
Sources: Implementation and Support Agreement, Implementation and Support Agreement, Implementation and Support Agreement
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 KSPDCL.
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 KSPDCL shall be shallbe obtained. However such mortgage shall not affect the rights and powers of KSPDCL under this Agreement.
Appears in 1 contract
Sources: Implementation and Support Agreement