Possession of Charged Property Sample Clauses

The 'Possession of Charged Property' clause defines the rights and obligations regarding who holds physical control over property that has been used as security for a loan or other obligation. Typically, this clause specifies whether the borrower (chargor) or the lender (chargee) retains possession of the asset during the term of the charge, and may outline conditions under which possession can be transferred, such as upon default. Its core practical function is to clarify control and responsibility for the charged property, thereby reducing disputes and protecting the interests of both parties in the event of non-performance or default.
Possession of Charged Property. Without prejudice to Clause 14.1 above, if the Security Agent or the Receiver enters into possession of the Charged Property, it will not be liable to account as mortgagee in possession and may at any time at its discretion go out of such possession.
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Possession of Charged Property. If the Security Agent or the Receiver enters into possession of the Charged Property, it will not be liable to account as mortgagee in possession by reason of viewing or repairing any of the present or future Charged Property of the Chargor and may at any time at its discretion go out of such possession.
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Possession of Charged Property. Without prejudice to Clause 11.1 (No Liability) above, if the Interim Security Agent or the Receiver enters into possession of the Charged Property, it will not be liable to account as mortgagee in possession in respect of all or any part of the Charged Property or be liable for any loss upon realisation or for any neglect, default or omission in connection with the Charged Property to which a mortgagee or mortgagee in possession might otherwise be liable and may at any time at its discretion go out of such possession.
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Possession of Charged Property. Without prejudice to clause 13.1 (No Liability), if the Collateral Agent or any Receiver enters into possession of the Charged Property, it will not be liable to account as mortgagee in possession and may at any time at its discretion go out of such possession.
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Possession of Charged Property. Without prejudice to the generality of Clause 17.1 (No liability for exercise of powers), entry into possession of the security, charges and pledges constituted by this Deed shall not render the Security Trustee, the Lender Parties or the Receiver liable to account as mortgagee in possession and if and whenever the Security Trustee enters into possession of the security, charges and pledges constituted by this Deed, it shall be entitled at any time at its discretion to go out of such possession.
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Possession of Charged Property. Without prejudice to the generality of Clause 16.1, entry into possession of the Charged Property shall not render the Security Trustee, the Lender Parties or the Receiver liable to account as mortgagee in possession and if and whenever the Security Trustee enters into possession of the Charged Property, it shall be entitled at any time at its discretion to go out of such possession.
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Related to Possession of Charged Property

  • Possession of Collateral Agent and Secured Parties appoint each Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting Liens in any Collateral held or controlled by such Lender, to the extent such Liens are perfected by possession or control. If any Lender obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions.

  • Possession of Property Possession of the Property free and clear of all uses and encroachments, except the Permitted Exceptions, shall be delivered to Purchaser at closing.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on

  • POSSESSION OF PREMISES Tenant shall not be entitled to possession of the premises designated for lease until the security deposit and first month’s rent (or prorated portion thereof), less any applicable promotional discount, is paid in full and the premises designated for lease is vacated by the prior tenant.

  • Entry on Mortgaged Property Enter the Mortgaged Property and take exclusive possession thereof and of all books, records and accounts relating thereto or located thereon. If Mortgagor remains in possession of the Mortgaged Property following the occurrence and during the continuance of an Event of Default and without Mortgagee’s prior written consent, Mortgagee may invoke any legal remedies to dispossess Mortgagor.