ANY LAND WITH ANY OTHER PERSON
OR AGREE TO DO SO OTHER THAN FOR THE PURPOSES OF CONFERENCES, MUSIC, SPECIAL
EVENTS, AND EXHIBITION VENUES PROVIDED THAT IN NONE OF THE FOREGOING INSTANCES
IS THE RELATIONSHIP OF LANDLORD AND TENANT CREATED OR EXCLUSIVE POSSESSION
CONFERRED.
12.3
CONSOLIDATION OF MORTGAGES
SECTION 93 OF THE LAW OF PROPERTY ACT 1925, DEALING WITH THE CONSOLIDATION OF
MORTGAGES, SHALL NOT APPLY TO THIS DEBENTURE.
13.
Plant, Machinery & Equipment
The Chargor shall:
13.1
MAINTENANCE:
KEEP AND MAINTAIN THE PLANT, MACHINERY & EQUIPMENT IN
GOOD AND SERVICEABLE REPAIR AND CONDITION AND WORKING ORDER, AND:
(A)
AT ITS OWN EXPENSE, REPLACE ALL WORN OR DAMAGED PARTS THEREOF AND
MAKE ALL ALTERATIONS OR MODIFICATIONS REQUIRED THERETO BY APPLICABLE LAW OR
REGULATION;
(B)
SAVE AS PROVIDED IN PARAGRAPH (A) ABOVE, NOT MAKE ANY ALTERATIONS,
ADDITIONS OR MODIFICATIONS THERETO WITHOUT THE CHARGOR'S PRIOR WRITTEN CONSENT;
(C)
NOT PERMIT ANY ITEM OF PLANT, MACHINERY & EQUIPMENT TO BE USED OR
HANDLED OTHER THAN IN COMPLIANCE WITH ALL APPLICABLE LAWS AND IN A CAREFUL AND
PROPER BY PERSONS PROPERLY QUALIFIED AND TRAINED TO USE IT AND IN ACCORDANCE
WITH ALL OPERATING INSTRUCTIONS GIVEN BY THE SUPPLIER OR MANUFACTURER THEREOF;
(D)
NOT PERMIT ANY ITEM OF PLANT, MACHINERY & EQUIPMENT TO BE OVERLOADED
OR TO BE USED FOR ANY PURPOSE FOR WHICH IT IS NOT DESIGNED OR REASONABLY
SUITABLE
15
(E)
WHERE IT IS UNECONOMIC TO MAINTAIN OR REPAIR ANY ITEM OF PLANT,
MACHINERY & EQUIPMENT AS REQUIRED BY THIS CLAUSE 13.1, REPLACE SUCH ITEM WITH
ANOTHER SIMILAR ITEM OF EQUAL OR GREATER QUALITY OR VALUE;
13.2
PLATING:
IF SO REQUIRED BY THE CHARGEE, PLACE AND MAINTAIN AT THE
CHARGOR'S EXPENSE ON EACH ITEM OF PLANT, MACHINERY & EQUIPMENT THE VALUE OF
WHICH IS EQUAL TO OR GREATER THAN £2,500 (UNLESS A DEFAULT HAS OCCURRED, IN
WHICH CASE THE THRESHOLD OF £2,500 SHALL NOT APPLY), IN A CONSPICUOUS PLACE, A
CLEARLY LEGIBLE IDENTIFICATION PLATE CONTAINING THE FOLLOWING WORDING:
"NOTICE OF SECURITY INTEREST
This item and the ancillary equipment is subject to a mortgage dated [
] 200[
] in favour of Faunus Group International, Inc"; and
13.3
REMOVAL:
NOT UNFIX OR REMOVE ANY ITEM OF PLANT, MACHINERY OR
EQUIPMENT FROM THE LAND ON WHICH IT IS KEPT AS AT THE DATE OF THIS DEBENTURE,
EXCEPT FOR THE PURPOSE OF EFFECTING NECESSARY MAINTENANCE OR REPAIRS TO OR
REPLACING IT IN ACCORDANCE WITH CLAUSE 13.1 (MAINTENANCE) (AND THE CHARGOR
SHALL, FORTHWITH UPON REQUEST BY THE CHARGEE, PROVIDE THE CHARGEE WITH WRITTEN
CONFIRMATION OF THE CURRENT LOCATION(S) OF THE PLANT, MACHINERY & EQUIPMENT
14.
Intellectual Property Rights
14.1
POSITIVE COVENANTS
THE CHARGOR SHALL:
(A)
CONSENTS: PROMPTLY OBTAIN ANY CONSENT REQUIRED FOR THE CREATION OF
A FIXED CHARGE OVER ANY INTELLECTUAL PROPERTY RIGHTS;
(B)
FILINGS AND REGISTRATIONS: VIA THE AGENCY CREATED IN THIS
PARAGRAPH, PROMPTLY FILE AND REGISTER IN OR WITH SUCH PATENT, TRADE MARK OR
OTHER INTELLECTUAL PROPERTY REGISTER OR AUTHORITY AS MAY BE AVAILABLE FOR THE
PURPOSE (IN THE UK OR ELSEWHERE) IN SUCH