its breach)
shall be made in the Currency of Account and to such account, with such
financial institution and in such other manner as the Administrative Agent may
direct.
17.2
CONTINUATION OF ACCOUNTS
At any time after:
17.2.1
THE RECEIPT BY ANY SECURED PARTY OF NOTICE (EITHER ACTUAL OR
OTHERWISE) OF ANY SUBSEQUENT SECURITY AFFECTING THE CHARGED ASSETS; OR
17.2.2
THE PRESENTATION OF A PETITION OR THE PASSING OF A
RESOLUTION IN RELATION TO THE WINDING-UP OF THE CHARGOR,
any Secured Party may open a new account in the name of the Chargor with that
Secured Party (whether or not it permits any existing account to continue). If
that Secured Party does not open such a new account, it shall nevertheless be
treated as if it had done so when the relevant event occurred. No moneys paid
into any account, whether new or continuing, after that event shall discharge or
reduce the amount recoverable pursuant to any Loan Document to which the Chargor
is party.
18.
TRUST PROVISIONS
18.1
DECLARATION OF TRUST
THE ADMINISTRATIVE AGENT AGREES TO AND SHALL HOLD THE CHARGED ASSETS AND THE
BENEFIT OF THIS DEED ON TRUST FOR THE SECURED PARTIES FROM TIME TO TIME AS
SECURITY FOR THE TRANSACTION GUARANTEE OF THE CHARGOR AND FOR THE DUE AND
PUNCTUAL PAYMENT AND DISCHARGE OF ALL THE SECURED OBLIGATIONS GUARANTEED BY THE
CHARGOR UNDER THE TRANSACTION GUARANTEE OF THE CHARGOR AND ON THE TERMS AND
SUBJECT TO THE CONDITIONS CONTAINED IN THIS DEED AND THE OBLIGATIONS, RIGHTS AND
BENEFITS VESTED OR TO BE VESTED IN THE ADMINISTRATIVE AGENT BY THIS DEED OR ANY
DOCUMENT ENTERED INTO PURSUANT HERETO SHALL (AS WELL BEFORE AS AFTER
ENFORCEMENT) BE PERFORMED AND (AS THE CASE MAY BE) EXERCISED IN ACCORDANCE WITH
THE PROVISIONS OF THIS DEED.
18
18.2
RIGHTS UPON ENFORCEMENT
AT ANY TIME AFTER AN EVENT OF DEFAULT SHALL HAVE OCCURRED AND BE CONTINUING AND
UNTIL THE WHOLE OF THE CHARGED ASSETS SHALL BE SOLD, CALLED IN, COLLECTED OR
CONVERTED UNDER THE POWERS OF CONVERSION CONFERRED UPON THE ADMINISTRATIVE
AGENT, THE ADMINISTRATIVE AGENT SHALL HAVE, IN ADDITION TO THE POWERS CONFERRED
UPON IT BY OR PURSUANT TO THIS DEED, POWER AT ITS DISCRETION AND WITHOUT BEING
RESPONSIBLE FOR ANY LOSS OR DAMAGE WHICH MAY ARISE OR BE OCCASIONED THEREBY AND
WITHOUT ANY CONSENT BY THE SECURED PARTIES OR THE CHARGOR TO DO EACH AND EVERY
OF THE FOLLOWING THINGS:
18.2.1
SETTLE, ADJUST, REFER TO ARBITRATION, COMPROMISE OR ARRANGE
ALL ACCOUNTS, QUESTIONS, CLAIMS AND DEMANDS WHATSOEVER IN RELATION TO THE
CHARGED ASSETS OR ANY PART THEREOF;
18.2.2
EXECUTE AND DO CONTRACTS, DEEDS, DOCUMENTS AND THINGS AND
BRING, DEFEND OR ABANDON ACTIONS, SUITS AND PROCEEDINGS IN RELATION TO THE
CHARGED ASSETS IN THE NAME OF THE CHARGOR;
18.2.3
DISCHARGE THE CHARGED ASSETS OR ANY PART THEREOF FROM THE
SECURITY CONSTITUTED BY THIS DEED WHERE THE ADMINISTRATIVE AGENT CONSIDERS SUCH
DISCHARGE TO BE EXPEDIENT IN THE INTERESTS OF THE SECURED PARTIES AND ON SUCH
TERMS AND CONDITIONS AS IT THINKS FIT; AND