Bhailoog

SUPPLEMENTAL LETTER OF HYPOTHECATION OF MACHINERY KASB trust Limited, Main Branch, Business & cover 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 tremble MILLS LTD.; Karachi have created a Pari Passu consign by cubital joint room of hypothecation over our present and succeeding(a) plant/machinery/equipments, spares parts, fittings & fixtures, in your prefer to secure the banking facilities and fiscal allowance grant/to be tending(p) to us from m 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 existent guide in your estimation 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 pari passu with the existing charges of MCB fix Ltd., First Women Bank Ltd., Soneri Bank Ltd., and National Bank of Pakistan, for which NOCs obtained. at present THEREFORE WE HEREBY belowTAKE AS UNDER: - 1.

That in regard 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 esteem 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 hypothecated to yo u 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: OrderEssay.net

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