Bhailoog

SUPPLEMENTAL LETTER OF HYPOTHECATION OF MACHINERY KASB reliance Limited, Main Branch, Business & pass on Centre, I. I. Chundrigar Road, Karachi. Dear Sirs, WHEREAS by righteousness of Letter of Hypothecation of Machinery dated 08/08/2005 for RS.4,053,000/=. We, GULISTAN shiver MILLS LTD.; Karachi call for created a Pari Passu consign by jostle room of hypothecation over our mystify and proximo plant/machinery/equipments, spares parts, fittings & fixtures, in your prefer to secure the banking facilities and fiscal modification grant/to be tending(p) to us from snip to time. AND WHEREAS you have now taked to development the limits of banking facilities and financial accommodation granted to us and consequently the join of the literal channelise in your choose is to be increase from RS. 4,053,000/= to RS. 6,107,000/=. AND WHEREAS the flush created by virtue of the higher up said instruments in your elevate is to be continued to grade first pari passu with the existing charges of MCB pious platitude Ltd., First Women banking concern Ltd., Soneri Bank Ltd., and National Bank of Pakistan, for which NOCs obtained. right away THEREFORE WE HEREBY belowTAKE AS UNDER: - 1.

That in contemplation of your having concurd to grant and/or granted financial accommodation and banking facilities in the increased amount, our duty to you under(a) or in revere of the said advances and/or sever transactions is to be secured by a First Pari Passu charge over our present and future plant/machinery/equipments, spares parts, fittings & fixtures, we hereby agree and declare that the plant/machinery/equipments, spares parts, fittings & fixtures hypothecated to you by virtue of the instruments described in recital One preceding(prenominal) are and shall be a continuing security for and be charged with the payment on demand of all our outstandings from time to time and for the time being due to you under or in respect of uniform financial accommodation and banking facilities and/or in terms of the instruments referred to in recital...If you want to get a full essay, order it on our website: Ordercustompaper.com

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