The Intending. LESSEE undertakes to inform the LESSOR the details of finance(s) raised on the security of the Schedule Property from time to time till the loan(s) is/are repaid to the financial agencies/lenders by the Intending LESSEE. It shall be mandatory for the LESSEE to ensure that the financial agency/bank/lender which finances to the Intending LESSEE on the security of the Schedule property, shall inform the LESSOR the details of finance(s) from time to time till the loan(s) is/are repaid by the LESSEE and also comply the terms & conditions of NOC, if any, issued by the LESSOR on the request of the Intending LESSEE and the Banker / Financing agency, above stated. The LESSEE shall obtain written permission of the LESSOR before subjecting the Schedule Property to any mortgage or encumbrances whatsoever.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement