COMPETENT
AUTHORITY OR TENANT; AND
(II)
WITHIN THREE DAYS OF RECEIPT WHERE IT IS RECEIVED FROM ANY LANDLORD,
AND AT ITS COST EITHER PUNCTUALLY COMPLY WITH SUCH NOTICE OR ORDER OR (IF SO
REQUESTED BY THE CHARGEE MAKE OR JOIN WITH THE CHARGEE IN MAKING SUCH OBJECTIONS
OR REPRESENTATIONS OR TAKING SUCH OTHER STEPS AS THE CHARGEE MAY THINK FIT;
(F)
BUILDING OPERATIONS: COMPLETE WITH REASONABLE EXPEDITION ANY
BUILDING OPERATIONS TO THE REASONABLE SATISFACTION OF ANY COMPETENT AUTHORITY
AND IN CONFORMITY WITH ALL REQUISITE PLANNING AND BY-LAW CONSENTS;
(G)
VALUATION REPORTS: PROMPTLY ON RECEIPT, CAUSE A COPY OF EACH
PROFESSIONAL VALUATION REPORT WHICH IT OBTAINS IN RELATION TO ITS LAND TO BE
PROVIDED TO THE CHARGEE;
(H)
NOTIFICATION OF NON-COMPLIANCE: NOTIFY THE CHARGEE, PROMPTLY ON
RECEIPT, OF ANY CLAIM, NOTICE OR OTHER COMMUNICATION RECEIVED BY IT ALLEGING
NON-COMPLIANCE BY IT IN RELATION TO ANY MATTER REFERRED TO IN THIS CLAUSE 12.1;
(I)
ACQUISITIONS: NOTIFY THE CHARGEE IMMEDIATELY UPON ITS ACQUISITION
OF ANY LAND;
(J)
ACCESS TO LAND: PERMIT THE CHARGEE (BUT WITHOUT THE CHARGEE BEING
UNDER ANY OBLIGATION TO DO SO) TO:
(I)
INSPECT, AT REASONABLE TIMES AND ON REASONABLE NOTICE, ANY OF ITS
LAND, AND
(II)
ENTER UPON ALL OR ANY OF ITS LAND TO EFFECT SUCH REPAIRS AS THE
CHARGEE MAY CONSIDER NECESSARY, WITHOUT BECOMING LIABLE AS A MORTGAGEE IN
POSSESSION.
12.2
NEGATIVE COVENANTS
SAVE AS MAY BE PERMITTED UNDER THE FINANCE DOCUMENTS, THE CHARGOR SHALL NOT
WITHOUT THE PRIOR WRITTEN CONSENT OF THE CHARGEE:
14
(A)
NO BUILDING: CARRY OUT ANY BUILDING WORK ON ITS LAND, OR MAKE ANY
STRUCTURAL ALTERATION TO ANY BUILDING ON ITS LAND, OR APPLY FOR ANY PLANNING
CONSENT FOR THE DEVELOPMENT OR CHANGE OF USE OF ITS LAND, OR AT ANY TIME SEVER,
REMOVE OR DISPOSE OF ANY FIXTURE ON IT IF ANY SUCH ACTION WOULD BE REASONABLY
LIKELY TO MATERIALLY ADVERSELY AFFECT THE VALUE OF SUCH LAND;
(B)
NO ONEROUS OBLIGATIONS: ENTER INTO ANY ONEROUS OR RESTRICTIVE
OBLIGATION AFFECTING ITS LAND OR CREATE OR PERMIT TO ARISE ANY OVERRIDING
INTEREST OR ANY EASEMENT OR RIGHT WHATEVER IN OR OVER IT WHICH WOULD BE
REASONABLY LIKELY TO AFFECT ADVERSELY ITS VALUE OR THE VALUE OF THE SECURITY
CONSTITUTED BY THIS DEBENTURE OVER IT;
(C)
NO LEASING: EXERCISE ANY POWER OF LEASING IN RELATION TO ITS LAND,
OR ACCEPT SURRENDERS OF LEASES OF ANY LAND OR AGREE TO DO SO;
(D)
NO LEASE EXTENSIONS: EXTEND, RENEW ON SUBSTANTIALLY DIFFERENT
TERMS OR VARY ANY LEASE OR TENANCY AGREEMENT OR GIVE ANY LICENCE TO ASSIGN OR
UNDERLET IN RELATION TO ITS LAND;
(E)
NO ELECTIONS: MAKE ANY ELECTION TO WAIVE THE EXEMPTION UNDER
PARAGRAPH 2 OF SCHEDULE 10 OF THE VALUE ADDED TAX ACT 1994 IN ITS CAPACITY AS
LANDLORD OF ANY SUCH LAND;
(F)
POSSESSION: PART WITH POSSESSION OF ITS LAND (EXCEPT ON THE
DETERMINATION OF ANY LEASE, TENANCY OR LICENCE GRANTED TO IT OR AS PERMITTED
UNDER PARAGRAPH (C) ABOVE OR PARAGRAPH (G) BELOW); OR
(G)
NO SHARING: SHARE THE OCCUPATION OF