Rights Regarding prior Encumbrances. The Security Agent may (but is not ----------------------------------- obliged to) pay any monies, obligations or liabilities secured by any Encumbrance having priority to this Deed and (at the expense of the Company) take a transfer of such Encumbrance for the benefit of the Finance Parties. All principal monies, interest, costs, charges and expenses of and incidental to such redemption and transfer shall be paid by the Company to the Security Agent on demand.
Appears in 2 contracts
Sources: Facility Agreement (Hawker Pacific Aerospace), Credit Agreement (Hawker Pacific Aerospace)
Rights Regarding prior Encumbrances. The Security Agent may (but is not ----------------------------------- obliged to) pay any monies, obligations or liabilities secured by any Encumbrance having priority to this Deed and (at the expense of the CompanyChargor) take a transfer of such Encumbrance for the benefit of the Finance Parties. All principal monies, interest, costs, charges and expenses of and incidental to such redemption and transfer shall be paid by the Company Chargor to the Security Agent on demand.
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