Common use of Restrictions on dealing Clause in Contracts

Restrictions on dealing. 4.1. The Chargor shall not without the prior written consent of the Bank; 4.1.1. create or permit to subsist any mortgage charge (fixed or floating) pledge lien (other than a lien arising by operation of law) or other security interest on any of its assets other than this Debenture and Permitted Encumbrances; 4.1.2. other than in respect of Permitted Indebtedness and Permitted Investments (as defined in the Loan and Security Agreement) and other than as otherwise specifically permitted in the Loan and Security Agreement sell transfer lease lend or otherwise dispose of the whole or any part of its undertaking or (save in the normal course of trading at not less than market value) of its assets or enter into any agreement or grant any option for any such sale transfer lease loan or other disposal; 4.1.3. part with possession of any freehold or leasehold property grant or agree to grant any option or any licence tenancy or other right of occupation to any person or exercise the powers of leasing or agreeing to lease or of accepting or agreeing to accept surrenders conferred by Sections 99 and 100 of the Law of Property ▇▇▇ ▇▇▇▇ provided that such restrictions shall not be construed as a limitation on the powers of any receiver appointed under this Debenture and being an agent of the Chargor and the Bank may grant or accept surrenders of leases without restriction at any time after the Bank shall have demanded the payment or discharge of any of the monies obligations and liabilities hereby secured; and 4.1.4. pull down or remove or redevelop or make any material alteration to the whole or any part of any buildings or sever unfix or remove any fixtures or remove any plant or machinery belonging to or in use by the Chargor except for the purpose of effecting repairs or replacing the same.

Restrictions on dealing. 4.1. 3.1 The Chargor Guarantor shall not without the prior written consent of the Bank;Lender: 4.1.1. (a) create or permit to subsist any mortgage charge (fixed or floating) pledge hypothecation lien (other than a lien arising by operation of law) or other security interest on any of its assets ranking in priority or pari passu with the fixed and floating charges hereby created other than this Debenture and Permitted Encumbrances; 4.1.2. other than in respect of Permitted Indebtedness and Permitted Investments Debenture; (as defined in the Loan and Security Agreementb) and other than as otherwise specifically permitted in the Loan and Security Agreement sell transfer lease lend or otherwise dispose of the whole or any part of its undertaking or (save in the normal course of trading at not less than market value) of its assets or enter into any agreement or grant any option for any such sale transfer lease loan or other disposal; 4.1.3. ; (c) part with possession of any freehold or leasehold property grant or agree to grant any option or any licence tenancy or other right of occupation to any person or exercise the powers of leasing or agreeing to lease or of accepting or agreeing to accept surrenders conferred by Sections 99 and 100 Section 18 of the Law Conveyancing ▇▇▇ ▇▇▇▇ and Section 3 of Property the Conveyancing ▇▇▇ ▇▇▇▇ provided that such restrictions shall not be construed as a limitation on the powers of any receiver appointed under this Debenture and being an agent of the Chargor Guarantor and the Bank Lender may grant or accept surrenders of leases without restriction at any time after the Bank shall have demanded the payment or discharge of any of the monies obligations and liabilities hereby securedrestriction; and 4.1.4. (d) pull down or remove or redevelop or make any material alteration to the whole or any part of any buildings or sever unfix or remove any fixtures or remove any plant or machinery belonging to or in use by the Chargor Guarantor except for the purpose of effecting repairs or replacing the same.