Common use of Security Package Clause in Contracts

Security Package. Should the Original Borrower not be released as a Orogen Bonds Guarantor under the Orogen Bonds: 22.23.1 within 3 (three) Months from the Demerger Date, the Parties shall use their reasonable commercial endeavours to negotiate and structure, in such form and subject to such terms and conditions satisfactory to the Lenders and the Original Borrower, a security package (the Security Package) as security for the obligations of the Obligors under the Finance Documents; and 22.23.2 within 6 (six) Months from the Demerger Date, implement the Security Package. For the purposes of this Clause 22.23, to the extent that the Security Package comprises any mortgage or notarial bonds, that portion of the Security Package shall be considered to be implemented upon the lodgement of those mortgage and/or notarial bonds with the relevant Deeds Registry(ies) in South Africa.