Bhailoog

SUPPLEMENTAL LETTER OF HYPOTHECATION OF MACHINERY KASB trust Limited, Main Branch, Business & pass 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 whirl MILLS LTD.; Karachi have created a Pari Passu consign by jostle room of hypothecation over our present and rising plant/machinery/equipments, spares parts, fittings & fixtures, in your prefer to secure the banking facilities and pecuniary fitting 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 quick commit in your elevate is to be increase from RS. 4,053,000/= to RS. 6,107,000/=. AND WHEREAS the charge created by virtue of the in a higher place said instruments in your favor is to be continued to rank first pari passu with the e xisting charges of MCB blaspheme Ltd., First Women Bank Ltd., Soneri Bank Ltd., and National Bank of Pakistan, for which NOCs obtained. promptly THEREFORE WE HEREBY belowTAKE AS UNDER: - 1.

That in status 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 assess 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/equ ipments, spares parts, fittings & fixtures h! ypothecated to you by virtue of the instruments described 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: BestEssayCheap.com

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