this Deed and any contracts relating to the Secured Liabilities.
5.2.3
RESTRICTIONS ON
DEALINGS
No Chargor shall:
(A)
CREATE OR PERMIT TO SUBSIST ANY SECURITY INTEREST OF
WHATSOEVER NATURE ON ANY SECURITY ASSET OTHER THAN A PERMITTED SECURITY INTEREST
OR AS CREATED BY THIS DEED; OR
(B)
SELL, TRANSFER, GRANT, LEASE OR OTHERWISE DISPOSE OF
ANY SECURITY ASSET, EXCEPT FOR THE DISPOSAL IN THE ORDINARY COURSE OF TRADE OF
ANY SECURITY ASSET SUBJECT TO THE FLOATING CHARGE CREATED BY CLAUSE 3.1 AND
EXCEPT AS PROVIDED FOR UNDER THE FINANCE DOCUMENTS.
12
5.3
PROPERTY
5.3.1
DEPOSIT OF TITLE DEEDS
For the duration of the Security Period each Chargor shall deposit with Burdale
all deeds and documents of title relating to the Mortgaged Property owned by it
and any property comprised within sub-clause 5.3.3.
5.3.2
ENVIRONMENTAL MATTERS
Each Chargor shall:
(A)
COMPLY IN ALL MATERIAL RESPECTS WITH ALL APPLICABLE
ENVIRONMENTAL LAW INCLUDING THE OBTAINING OF AND COMPLIANCE WITH ALL REQUISITE
ENVIRONMENTAL LICENCES (AS VARIED FROM TIME TO TIME);
(B)
IMMEDIATELY INFORM BURDALE:
(I)
OF ANY ACTUAL ENVIRONMENTAL PROCEEDINGS OR, AS
SOON AS IT BECOMES AWARE, OF ANY POTENTIAL ENVIRONMENTAL PROCEEDINGS INVOLVING
IT; AND
(II)
UPON RECEIPT, OF ANY COMMUNICATION OF WHATSOEVER
NATURE, WHETHER SPECIFIC OR GENERAL AND WHETHER FROM A THIRD PARTY OR COMPETENT
REGULATORY AUTHORITY, SERVED ON IT CONCERNING ANY ALLEGED BREACH OF ANY
ENVIRONMENTAL LAW OR NON COMPLIANCE WITH ANY ENVIRONMENTAL LICENCE, WHICH, IF
SUBSTANTIATED, COULD HAVE A MATERIAL ADVERSE EFFECT UPON ITS FINANCIAL POSITION
OR UPON ITS ABILITY TO PERFORM ITS OBLIGATIONS UNDER THIS DEED;
(C)
IMMEDIATELY INFORM BURDALE IF IT BECOMES AWARE THAT
ANY OF THE MORTGAGED PROPERTY OR ANY OTHER PROPERTY OWNED OR OCCUPIED BY ANY
CHARGOR IS LIKELY TO BE ENTERED ON ANY REGISTER RELATING TO LAND USE OR TO
REMEDIAL WORKS AFFECTING LAND AND WATERS (INCLUDING, WITHOUT LIMITATION,
REGISTERS TO BE HELD BY ANY COMPETENT REGULATORY AUTHORITY UNDER SECTION 78R OF
THE ENVIRONMENTAL PROTECTION ACT 1990 OR SECTION 190 OF THE WATER RESOURCES ACT
1991);
(D)
IMMEDIATELY INFORM BURDALE OF THE PRESENCE OF ANY
DANGEROUS SUBSTANCE IN, ON, AT OR UNDER OR MIGRATING ONTO OR FROM ANY MORTGAGED
PROPERTY OR OTHER PROPERTY OWNED OR OCCUPIED BY ANY CHARGOR OR OF ANY OTHER
CIRCUMSTANCE, EVENT OR INCIDENT WHICH IS LIKELY TO GIVE RISE TO ANY
ENVIRONMENTAL PROCEEDINGS; AND
(E)
IMMEDIATELY INFORM BURDALE OF ANY ACTUAL OR PROPOSED
VARIATION, MODIFICATION OR REVOCATION OF ANY REQUISITE ENVIRONMENTAL LICENCE
HELD BY SUCH CHARGOR AND OF ANY REFUSAL TO GRANT OR TRANSFER TO THE CHARGOR ANY
ENVIRONMENTAL LICENCE REQUIRED BY IT FOR THE PURPOSE OF ITS BUSINESS.
5.3.3
FUTURE ACQUISITIONS AND
LEGAL MORTGAGE
Each Chargor shall:
(A)
NOTIFY BURDALE IMMEDIATELY UPON THE ACQUISITION BY IT
OF ANY FREEHOLD OR LEASEHOLD OR OTHER INTEREST IN PROPERTY (AND FOR THE PURPOSES
OF THIS SUB-CLAUSE 5.3.3 THE DATE OF EXCHANGE OF CONTRACTS FOR SUCH AN
ACQUISITION SHALL BE DEEMED THE DATE OF ACQUISITION);
(B)
AT ITS COST, EXECUTE AND DELIVER TO BURDALE, ON DEMAND,
A LEGAL MORTGAGE (ON TERMS NO MORE ONEROUS