Bhailoog

SUPPLEMENTAL LETTER OF HYPOTHECATION OF MACHINERY KASB trust Limited, Main Branch, Business & fall in Centre, I. I. Chundrigar Road, Karachi. Dear Sirs, WHEREAS by virtue of Letter of Hypothecation of Machinery dated 08/08/2005 for RS.4,053,000/=. We, GULISTAN keel MILLS LTD.; Karachi have created a Pari Passu consign by cubital joint room of hypothecation over our present and prospective plant/machinery/equipments, spares parts, fittings & fixtures, in your prefer to secure the banking facilities and monetary appointment grant/to be tending(p) to us from time 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 real dismantle in your esteem is to be increase from RS. 4,053,000/= to RS. 6,107,000/=. AND WHEREAS the charge created by virtue of the to a higher place said instruments in your favor is to be continued to rank first par i passu with the existing charges of MCB depone Ltd., First Women Bank Ltd., Soneri Bank Ltd., and National Bank of Pakistan, for which NOCs obtained. like a shot THEREFORE WE HEREBY belowTAKE AS UNDER: - 1.

That in stipulation of your having agreed to grant and/or granted financial accommodation and banking facilities in the increased amount, our indebtedness to you under(a) or in regard of the said advances and/or separate 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 hypothec ated to you by virtue of the instruments des! cribed in recital One above 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 universe due to you under or in respect of same 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: OrderEssay.net

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