Subordinated Insurance Assignment担保从属协议

-28-SubordinatedInsuranceAssignment担保从属协议核心提示：AAAasBorrowerandBBBasJuniorLenderCCC_________ATTORNEYSAT_________CONTENTS1.Interpretation2.AssignmentofInsurances3.ContinuingSecurity4.RepresentationsandWarranties5.Undertakings6.Borrower’sLiability7.ProceedsofInsuAAAasBorrowerandBBBasJuniorLenderCCC_________ATTORNEYSAT_________CONTENTS1.Interpretation2.AssignmentofInsurances3.ContinuingSecurity4.RepresentationsandWarranties5.Undertakings6.Borrower’sLiability7.ProceedsofInsurances8.TaxesandOtherDeductions9.Costs,ChargesandExpenses10.Indemnity11.FurtherAssurance12.PowerofAttorney13.SuspenseAccount14.WaiverandSeverability15.Miscellaneous16.Assignment17.Notices18.GoverningLawandJurisdiction19.SubordinatedSecuritySchedule1FormofNoticeSchedule2FormofLossPayableandNoticeofCancellationClauseExecutionBlockTHISDEEDismadeon_________,_________,_________(M,D,Y).BETWEEN:(1)AAA,anequityjointventurecompanyformedundertheLawofthe_________on_________,withitsregisteredofficeat_________(theBorrower);and(2)BBB,a_________companyof_________(theJuniorLender).WHEREAS:(A)BytheAESLoanAgreement(asdefinedbelow),theJuniorLenderhasagreedtomakeavailabletotheBorroweratermloanfacilityofuptoeighteen_________(US$,_________),uponthetermssetouttherein.(B)ItisaconditionprecedenttotheJuniorLendermakingtheFacilityavailabletotheBorrowerthattheBorrowerentersintothisDeed.NOWTHISDEEDWITNESSESasfollows:1.INTERPRETATION1.01DefinitionsandConstruction.InthisDeed,unlessthecontextrequiresotherwise:(a)termsandexpressionsdefinedinorconstruedforthepurposesoftheAESLoanAgreementshallhavethesamemeaningsorbeconstruedinthesamemannerwhenusedinthisDeed;(b)AESLoanAgreementmeanstheloanagreementdated_________,_________,_________(M,D,Y)andmadebetweentheJuniorLenderandtheBorrower;(c)InsurancesmeansallpoliciesorcontractsofinsurancewhicharenowormayhereafterbeeffectedinrespectoftheInsuredAssetsoranypartthereof(butexpresslyexcludinganythirdpartyliabilityinsurancesandanyotherinsurancesarrangedsolelyforthebenefitofthirdparties)andallbenefitsandproceedsthereof,includingallclaimsofwhatevernatureandreturnsofpremiums;(d)InsuredAssetsmeansthebuildings,plant,equipment,machinery,sparepartsandotherassetsownedbytheBorrowerandusedinconnectionwiththeProject;and(e)JuniorSecuredIndebtednessmeansallandanysums(whetherprincipal,interest,feesorotherwise)whichareoratanytimemaybecomepayablebytheBorrowerundertheAESLoanAgreementoranySubordinatedSecurityDocumenttowhichitisapartyandallothermoniesherebysecured.1.02SuccessorsandAssigns.TheexpressionsBorrowerandJuniorLendershallwherethecontextpermitsincludetheirrespectivesuccessorsandpermittedassignsandanypersonsderivingtitleunderthem.1.03AESLoanAgreement.Totheextentapplicableandrequiredbyrelevantlaw,thetermsandconditionsoftheAESLoanAgreementshallbedeemedtobeincorporatedintothisDeedbyreferenceandthisDeedshallbereadandconstruedasifsuchtermsandconditionshadbeensetoutinfullherein.1.04Miscellaneous.InthisDeed,unlessthecontextrequiresotherwise,referencestostatutoryprovisionsshallbeconstruedasreferencestothoseprovisionsasreplaced,amended,modifiedorre-enactedfromtimetotime;wordsimportingthesingularincludethepluralandviceversaandwordsimportingagenderincludeeverygender;referencestothisDeed,theAESLoanAgreement,anyotherSubordinatedSecurityDocumentoranyotherdocumentreferredtohereinshallbeconstruedasreferencestosuchdocumentasthesamemaybeamendedorsupplemented(providedthatanyrequiredconsentorapprovalforsuchamendmentorsupplementhasbeenobtained)fromtimetotime;unlessotherwisestated,referencestoClausesaretoclausesofthisDeed.ClauseheadingsareinsertedforreferenceonlyandshallbeignoredinconstruingthisDeed.2.ASSIGNMENTOFINSURANCES2.01ChargeandAssignment.InconsiderationoftheFacilitybeingmadeavailablebytheJuniorLendertotheBorroweruponthetermsandconditionsoftheAESLoanAgreement,theBorrowerwithfulltitleguaranteeassignsandgrantstotheJuniorLenderathird-prioritysecurityinterestinabsolutelyalltheBorrower’sright,title,interestandbenefitinandtotheInsurancesuponthetermshereinsetoutasacontinuingsecurityforthedueandpunctualpaymentoftheJuniorSecuredIndebtednessandthedueandpunctualperformanceandobservancebytheBorrowerofallotherobligationsoftheBorrowercontainedintheAESLoanAgreementoranySubordinatedSecurityDocumenttowhichitisaparty.THISASSIGNMENTISSUBORDINATEINRIGHTTOTHECHARGESCREATEDTOSECURETHEOBLIGATIONSOFTHEBORROWERUNDERTHESENIORLOANAGREEMENT,ANDTHEENFORCEMENTOFTHISASSIGNMENTSHALLBELIMITEDINACCORDANCEWITHTHEPROVISIONSOFTHESENIORSUBORDINATIONAGREEMENTANDTHEPRIORITYDEED.2.02Notice.TheBorrowerwill,forthwithupontheexecutionofthisDeed(or,iflater,uponanypolicyorcontractofinsurancecomprisedintheInsurancescomingintoforce),givenoticeoftheassignmenthereincontainedtoandobtainanacknowledgmentfromtherelevantinsurerssubstantiallyintheformsetoutinSchedule1or,ifnotinthatform,inaformsatisfactorytotheJuniorLender.2.03DealingswithParties.NotwithstandingtheassignmenthereincontainedbutotherwisesubjecttothetermsofthisDeed,theJuniorLenderauthorizestheBorrowertocontinuetodealwiththeotherpartiestotheInsurancesandeachoftheminrelationtheretoasiftheBorrowerremainedsolelyentitledtoalltherights,title,interestandbenefitsthereunderbut,saveashereinprovided,notdirectlytoreceiveanymoneyspayableundertheInsurances,providedthatifanEventofDefaultorprospectiveEventofDefaultoccursandtheJuniorLendergiveswrittennoticethereoftotheBorrowertheforegoingauthorityshallimmediatelyceasetohaveeffect.3.CONTINUINGSECURITYThisDeedshallbeacontinuingsecurityandshallremaininfullforceandeffectuntiltheJuniorSecuredIndebtednesshasbeenpaidinfull,notwithstandingtheinsolvencyorliquidationoranyincapacityorchangeintheconstitutionorstatusoftheBorroweroranyotherpersonoranyintermediatesettlementofaccountorothermatterwhatsoever.ThisDeedisinadditionto,andindependentof,anyCharge,guaranteeorothersecurityorrightorremedynoworatanytimehereafterheldbyoravailabletotheJuniorLender.4.REPRESENTATIONSANDWARRANTIES4.01RepresentationsandWarranties.TheBorrowerrepresentsandwarrantstotheJuniorLenderthat:(a)theInsurancesarebeneficiallyownedbytheBorrowerfreefromanyChargeexceptascreated(i)underorpursuanttothisDeed,(ii)tosecuretheobligationsoftheBorrowerundertheSeniorLoanAgreementand(iii)inrespectoftheGuarantee;(b)theInsurancesarevalidandinfullforceandeffectandarenotvoidorvoidable;and(c)allpremiumsandothermonies(ifany)payableinrespectoftheInsuranceshavebeendulypaidandallcovenants,termsandconditionscontainedintheInsuranceshavebeendulyobservedandperformed.4.02ContinuingRepresentationandWarranty.TheBorroweralsorepresentsandwarrantstoandundertakeswiththeJuniorLenderthattheforegoingrepresentationsandwarrantieswillbetrueandaccuratethroughoutthecontinuanceofthisDeedwithreferencetothefactsandcircumstancesexistingfromtimetotime.5.UNDERTAKINGSTheBorrowerundertakesandagreeswiththeJuniorLenderthroughoutthecontinuanceofthisDeedandsolongastheJuniorSecuredIndebtednessoranypartthereofremainsowingthattheBorrowerwill,unlesstheJuniorLenderotherwiseagreesinwriting:(a)procurethatalosspayableandnoticeofcancellationclause,substantiallyintheformofSchedule2,andinanyeventinaformsatisfactorytotheJuniorLender,isincludedineachofthepoliciesorcontractsofinsurancecomprisedintheInsurances;(b)procurethat,onorpriortoanypolicyorcontractofinsurancecomprisedintheInsurancescomingintoforce(or,iflater,theexecutionofthisDeed),theinsurancebrokersandinsurersinrespectofsuchinsurancegivetheirwrittenconsenttotheassignmentpursuanttothisDeedandtheirwrittenundertakingtotheJuniorLender:(i)promptlytoadvisetheJuniorLender:aifanyinsurercancels,purportstocancelorgivesnoticeofcancellationofsuchinsurance;bofanypurportedoractualalterationinorterminationorexpiryofsuchinsurance;cofanydefaultinthepaymentofanypremiumorcall;anddofanyactoromissionorofanyeventofwhichthatbrokerorinsurerhasknowledgewhichmightinvalidateorrenderunenforceableinwholeorinpartsuchinsurance;and(ii)tomakeanypaymentsinrespectofsuchinsuranceinaccordancewiththelosspayableprovisionssetoutinSchedule2;and(iii)toholdallpolicies,covernotesandotherrelevantdocumentsissuedorhereaftertobeissuedinrespectofsuchinsuranceforthebenefitoftheJuniorLender;(c)payallpremiumsandotheramountsdueinrespectoftheInsurances(andprovidetheJuniorLenderwithreceiptstherefor)anddelivertotheJuniorLendercopiesofallpolicies,covernotesandotherrelevantdocumentsrelatingtotheInsurances,providedthattheBorrowershallarrangeforthedeliveryoftheoriginalsofsuchdocumentstotheJuniorLenderassoonasallamountsowedtotheSeniorFinancingPartiesundertheSeniorLoanAgreementhavebeenpaidinfull;(d)takeallstepswhichmaybenecessaryorexpedienttokeeptheInsurancesinfullforceandeffectandprotecttheinterestsoftheBorrowerandtheJuniorLenderintheInsurances;(e)renewallpoliciesorcontractsofinsurancecomprisedintheInsurancesnolaterthan_________daysbeforetheexpiryofsuchpoliciesorcontracts;(f)reimburseondemandtotheJuniorLenderanyamountpaidbytheJuniorLendertoanyinsurerofanyoftheInsurancesinrespectofanypremiumorotheramountduetosuchinsurerinrespectoftheInsurances,togetherwithinterestthereonfromthedateofpaymenttothedateofreimbursementattheratecalculatedinaccordancewithclause15oftheAESLoanAgreement;(g)doorpermittobedoneeveryactorthingwhichtheJuniorLendermayfromtimetotimerequireforthepurposeofenforcingtherightsoftheJuniorLenderhereunder;(h)contemporaneouslywiththemakingofanyclaiminexcessoffiftythousandDollars(US$,_________)undertheInsurances,notifytheJuniorLenderinwritingofthesame,suchnotificationtobeaccompaniedbyacertifiedtruecopyofanyform(s)anddocument(s)submittedtotherelevantinsurer(s)inrespectofsuchclaimandprovidesuchotherdetailsinconnectionwiththeclaimastheJuniorLendermayrequest;(i)not,withoutthepriorwrittenconsentoftheJuniorLender,waive,release,settle,compromiseorabandonanyclaimundertheInsurancesordooromittodoanyotheractorthingwherebytherecoveryinfullofanyamountsinrespectoftheInsurancesasandwhentheybecomepayablemaybeimpeded;(j)notcreateorattemptoragreetocreateorpermittoariseorexistanyChargeoveralloranypartoftheInsurancesoranyinterestthereinorotherwiseassign,dealwithordisposeofalloranypartoftheInsurances(exceptunderorpursuanttothisDeedandtosecuretheobligationsoftheBorrowerundertheSeniorLoanAgreementandtheCPILSecurity);(k)exceptfortherelevantChargescreatedtosecuretheobligationsoftheBorrowerundertheSeniorLoanAgreementandtheCPILSecurity,notdoorcauseorpermittobedoneanythingwhichmayinanywaydepreciate,jeopardizeorotherwiseprejudicethevalueoftheJuniorLender’ssecurityhereunder.6.BORROWER’SLIABILITYNotwithstandingtheassignmenthereincontained,theBorrowershallremainliableundertheInsurancestoobserveandperformalltheobligationsassumedbyitthereunderandtheJuniorLendershallhavenoobligationorliabilitythereunder.TheJuniorLendershallnotbeobligedtomakeanyenquiryastothenatureorsufficiencyofanypaymentreceivedbyitortomakeanyclaimortakeanyotheractiontocollectanymoniesortoenforceanyrightsandbenefitsherebyassigned.7.PROCEEDSOFINSURANCESIfatthetimewhenanyinsuranceproceedsbecomedueandpayable,anyEventofDefaultorprospectiveEventofDefaulthasoccurred,theJuniorLendershallhavetherighttoapplysuchproceedsinortowardssatisfactionoftheJuniorSecuredIndebtednessinsuchmannerasitmaydetermine.IfnoEventofDefaultorprospectiveEventofDefaulthasthenoccurred:(a)theproceedsofinsuranceinrespectofaclaimforanamountnotexceeding_________Dollars(US$,_________)(ortheequivalentinanyothercurrency)shallbepayabletotheBorroweror(ifsorequiredunderthetermsoftherelevantpolicy)toAnhuiPowerandshallbeappliedbytheBorrowerorAnhuiPower,asthecasemaybe,infullyrepairing,rebuildingorreinstatingthatpartoftheInsuredAssetsdestroyedordamagedand,inanyevent,theBorrowershallberesponsibleforensuringthatsuchproceedsaresoapplied;and(b)theproceedsofinsuranceinrespectofaclaimforanamountexceeding_________Dollars(US$,_________)(ortheequivalentinanyothercurrency)shallbepayabletotheSecurityAgentuntilsuchtimeasallamountsowedundertheSeniorLoanAgreementhavebeenpaidinfullandtotheJuniorLenderthereafter.TheSecurityAgentortheJuniorLender,asthecasemaybe,shallreleasesuchproceedstotheBorrowerforthepurposeofrepairingorreinstatingthelossordamageinrespectofwhichsuchproceedswerepaidor,attheoptionoftheSecurityAgentortheJuniorLender,asthecasemaybe,suchproceedsshallbepaiddirectlytothepersonwhohasmadeoristomakesuchrepairsorreinstatementagainstinvoicestherefor.8.TAXESANDOTHERDEDUCTIONSAllsumspayablebytheBorrowerunderthisDeedshallbepaidinfullwithoutset-offorcounterclaimoranyrestrictionorconditionandfreeandclearofanytax(otherthananExcludedTax)orotherdeductionsorwithholdingsofanynature.IftheBorroweroranyotherpersonisrequiredbyanylaworregulationtomakeanydeductionorwithholding(onaccountoftax(otherthananExcludedTax)orotherwise)fromanypaymentfortheaccountoftheJuniorLender,theBorrowershall,togetherwithsuchpayment,paysuchadditionalamountaswillensurethattheJuniorLenderreceives(freeandclearofanytax(otherthananExcludedTax)orotherdeductionsorwithholdings)thefullamountwhichitwouldhavereceivedifnosuchdeductionorwithholdinghadbeenrequired.TheBorrowershallpromptlyforwardtotheJuniorLendercopiesofofficialreceiptsorotherevidenceshowingthatthefullamountofanysuchdeductionorwithholdinghasbeenpaidovertotherelevanttaxationorotherauthority.9.COSTS,CHARGESANDEXPENSESTheBorrowershallfromtimetotimeforthwithondemandpaytoorreimbursetheJuniorLenderfor:(a)allreasonablecosts,chargesandexpenses(includinglegalandotherfeesonafullindemnitybasisandoutofpocketexpenses)reasonablyincurredbytheJuniorLenderinconnectionwiththepreparation,executionandregistrationofanyamendmenttoorextensionof,orthegivingofanyconsentorwaiverinconnectionwiththisDeed;and(b)allreasonablecosts,chargesandexpenses(includinglegalandotherfeesonafullindemnitybasisandoutofpocketexpenses)reasonablyincurredbytheJuniorLenderinexercisinganyofitsrightsorpowershereunderorinsuingfororseekingtorecoveranysumsduehereunderorotherwisepreservingorenforcingitsrightshereunderorindefendinganyclaimsbroughtagainstitinrespectofthisDeedorinreleasingorre-assigningthisDeeduponpaymentofallmoniesherebysecuredanduntilpaymentofthesameinfull,allsuchcosts,chargesandexpensesshallbesecuredbythisDeed.Totheextentpracticable,theJuniorLendershallconsulttheBorrowerbeforeincurringanymajorexpenditure.10.INDEMNITY10.01GeneralIndemnity.TheBorrowershallindemnifytheJuniorLenderagainstalllosses,liabilities,damages,costsandexpensesincurredbyitintheexecutionorperformanceofthetermsandconditionshereofandagainstallactions,proceedings,claims,demands,costs,chargesandexpenseswhichmaybeincurred,sustainedorariseinrespectofthenon-performanceornon-observanceofanyoftheundertakingsandagreementsonthepartoftheBorrowerhereincontainedorinrespectofanymatterorthingdoneoromitted,onthepartoftheBorrower,relatinginanywaywhatsoevertotheInsurances.10.02CurrencyIndemnity.DollarsshallbethecurrencyofaccountandofpaymentinrespectofsumspayableunderthisDeed.Ifanamountisreceivedinanothercurrency,pursuanttoajudgmentororderorintheliquidationoftheBorrowerorotherwise,theBorrower’sobligationsunderthisDeedshallbedischargedonlytotheextentthattheJuniorLendermaypurchaseDollarswithsuchothercurrencyinaccordancewithnormalbankingproceduresuponreceiptofsuchamount.IftheamountinDollarswhichmaybesopurchased,afterdeductinganycostsofexchangeandanyotherrelatedcosts,islessthantherelevantsumpayableunderthisDeed,theBorrowershallindemnifytheJuniorLenderagainsttheshortfall.ThisindemnityshallbeanobligationoftheBorrowerindependentofandinadditiontoitsotherobligationsunderthisDeedandshalltakeeffectnotwithstandinganytimeorotherconcessiongrantedtotheBorroweroranyjudgmentororderbeingobtainedorthefilingofanyclaimintheliquidation,dissolutionorbankruptcy(oranalogousprocess)oftheBorrower.10.03PaymentandSecurity.TheJuniorLendermayretainandpayoutofanymoneyintheJuniorLender’shandsallsumsnecessarytoeffecttheindemnitycontainedinthisClause10.03andallsumspayablebytheBorrowerunderthisClause10.03shallformpartofthemoniesherebysecured.11.FURTHERASSURANCE11.01FurtherAssurance.TheBorrowershallatanytimeandfromtimetotime(whetherbeforeorafterthesecurityherebycreatedshallhavebecomeenforceable)executesuchfurtherlegalorothermortgages,chargesorassignmentsanddoallsuchtransfers,assurances,actsandthingsastheJuniorLendermayrequireoverorinrespectoftheInsurancestosecureallmonies,obligationsandliabilitiesherebycovenantedtobepaidorherebysecuredorforthepurposesofperfectingandcompletinganyassignmentoftheJuniorLender’srights,benefitsorobligationshereunderandtheBorrowershallalsogiveallnotices,ordersanddirectionswhichtheJuniorLendermayrequire.11.02EnforcementofJuniorLender’sRights.SubjecttotheSeniorSubordinationAgreementandthePriorityDeed,theBorrowerwilldoorpermittobedoneeverythingwhichtheJuniorLendermayfromtimetotimerequiretobedoneforthepurposeofenforcingtheJuniorLender’srightshereunderandwillallowthenameoftheBorrowertobeusedasandwhenrequiredbytheJuniorLenderforthatpurpose.12.POWEROFATTORNEYTheBorrowerirrevocablyappointstheJuniorLenderbywayofsecuritytobeitsattorney-in-fact(withfullpowerofsubstitution)andinitsnameorotherwiseonitsbehalfandasitsactanddeedtosign,seal,execute,deliver,perfectanddoalldeeds,instruments,actsandthingswhichmayberequiredorwhichtheJuniorLendershallthinkproperorexpedientforcarryingoutanyobligationsimposedontheBorrowerhereunderorforexercisinganyofthepowersherebyconferredorforgivingtotheJuniorLenderthefullbenefitofthissecurityandsothattheappointmentherebymadeshalloperatetoconferontheJuniorLenderauthoritytodoonbehalfoftheBorroweranythingwhichitcanlawfullydobyanattorney-in-fact.TheBorrowerratifiesandconfirmsandagreestoratifyandconfirmanydeed,instrument,actorthingwhichsuchattorney-in-factorsubstitutemayexecuteordo.13.SUSPENSEACCOUNTTheJuniorLendermayplaceandkeepanymoniesreceivedbyvirtueofthisDeed(whetherbeforeoraftertheinsolvencyorliquidationoftheBorrower)tothecreditofasuspenseaccountforsolongastheJuniorLendermaythinkfitinordertopreservetherightsoftheJuniorLendertosueorproveforthewholeamountofitsclaimsagainsttheBorroweroranyotherperson.14.WAIVERANDSEVERABILITYNofailureordelaybytheJuniorLenderinexercisinganyright,powerorremedyhereundershallimpairsuchright,powerorremedyoroperateasawaiverthereof,norshallanysingleorpartialexerciseofthesameprecludeanyfurtherexercisethereofortheexerciseofanyotherright,powerorremedy.Therights,powersandremedieshereinprovidedarecumulativeanddonotexcludeanyotherrights,powersandremediesprovidedbylaw.IfatanytimeanyprovisionofthisDeedisorbecomesillegal,invalidorunenforceableinanyrespectunderthelawofanyjurisdiction,thelegality,validityandenforceabilityofsuchprovisionunderthelawofanyotherjurisdiction,andoftheremainingprovisionsofthisDeed,shallnotbeaffectedorimpairedthereby.15.MISCELLANEOUS15.01ContinuingObligations.TheliabilitiesandobligationsoftheBorrowerunderthisDeedshallremaininforcenotwithstandinganyact,omission,eventorcircumstancewhatsoever,untilfull,properandvalidpaymentoftheJuniorSecuredIndebtedness.15.02ProtectiveClauses.WithoutlimitingClause15.01,neithertheliabilityoftheBorrowernorthevalidityorenforceabilityofthisDeedshallbeprejudiced,affectedordischargedby:(a)thegrantingofanytimeorindulgencetotheBorroweroranyotherperson;(b)anyvariationormodificationoftheAESLoanAgreement,anyoftheSubordinatedSecurityDocumentsoranyotherdocumentreferredtotherein;(c)theinvalidityorunenforceabilityofanyobligationorliabilityoftheBorrowerundertheAESLoanAgreementoranyoftheSubordinatedSecurityDocumentstowhichitisaparty;(d)anyinvalidityorirregularityintheexecutionofthisDeedortheAESLoanAgreementoranyoftheotherSubordinatedSecurityDocuments;(e)anydeficiencyinthepowersoftheBorrowertoenterintoorperformanyofitsobligationshereunderorundertheAESLoanAgreementoranyoftheotherSubordinatedSecurityDocumentstowhichitisapartyoranyirregularityintheexercisethereoforanylackofauthoritybyanypersonpurportingtoactonbehalfoftheBorrower;