Deed of Charge (2007)Full Document 

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GFN Australasia Finance Pty Ltd
ACN 121 227 790
Bison Capital Australia L.P.
Deed of Charge
Arnold Bloch Leibler



            Page no.
1   Definitions and interpretation     1  
  1.1   Definitions     1  
  1.2   Interpretation     4  
  1.3   Business Day     5  
2   Charge     6  
  2.1   Charge     6  
  2.2   Nature of Charge     6  
  2.3   Crystallisation     7  
  2.4   De-crystallisation     7  
  2.5   Prospective liability     8  
3   Discharge of the Charge     8  
4   Undertakings of the Chargor     8  
  4.1   Payment of Secured Moneys     8  
  4.2   Charged Property     8  
  4.3   Further security     9  
  4.4   Title Documents     9  
  4.5   Registration and protection of security     10  
  4.6   Negative pledge     10  
  4.7   No caveats     11  
  4.8   Transfer of Security Licence     11  
  4.9   Term of undertakings     11  
5   Representations and Warranties     11  
  5.1   Representations and Warranties     11  
  5.2   Reliance on representations and warranties     12  
  5.3   Repetition        
6   Enforcement     12  
  6.1   When enforceable     12  
  6.2   Assistance in realisation     13  
7   Receiver     13  
  7.1   Appointment of Receiver     13  
  7.2   Agency of Receiver     13  
  7.3   Powers of Receiver     13  
  7.4   Nature of Receiver’s Powers     16  
  7.5   Status of Receiver after commencement of winding-up     16  
  7.6   Powers exercisable by the Chargee     16  
  7.7   Notice of exercise of rights     17  
  7.8   Termination of receivership and possession     17  
8   Application of Money Received     17  
  8.1   Order     17  
  8.2   Payments     18  
9   Certificate as to Amount of Secured Moneys     18  
10   Guarantee     18  
  10.1   Interpretation     18  
  10.2   Guarantee     19  
  10.3   Indemnity     19  
  10.4   Payment obligation     19  
11   Third Party Provisions     19  
  11.1   Security not to be affected     19  
  11.2   Principal and independent obligation     20  
  11.3   No marshalling     20  
  11.4   Suspense account     20  
  11.5   Variation     21  
  11.6   Indemnity     21  
12   Power of attorney     21  
  12.1   Appointment of Attorney     21  
Arnold Bloch Leibler   Deed of Charge | Page i



            Page no.
  12.2   Purposes of appointment     21  
  12.3   Delegation and substitution     22  
13   Protection     22  
  13.1   Protection of third parties     22  
  13.2   Protection of enforcing party     22  
14   Reinstatement of rights     23  
15   Limitation of Chargee’s liability     24  
16   General     24  
  16.1   Notices     24  
  16.2   Governing law and jurisdiction     24  
  16.3   Attorneys     25  
Arnold Bloch Leibler   Deed of Charge | Page ii



THIS DEED is made on 14 September 2007
ACN 121 227 790 of Suite 202, level 2, 22-28 Edgeworth David Avenue, Hornsby NSW 2077 (“Chargor”)
a Delaware limited liability partnership
of 10877 Wilshire Boulevard Suite 1520, Los Angeles, California 90024 United States of America
A   The Chargee has agreed and may in the future agree to provide certain financial accommodation to members of the GFC Group.
B   The Chargor is the legal and beneficial owner of the Charged Property.
C   The Chargor has agreed to charge the Charged Property to secure payment of the Secured Moneys.
1   Definitions and interpretation
1.1   Definitions
    In this deed:
    Associate” has the meaning given to that term by section 9 of the Corporations Act.
    Charge” means the security created by this Deed.
    Charged Property” means:
  (a)   the whole of the assets property and undertaking of the Chargor wherever situate both present and future;
  (b)   the goodwill of any business; and
  (c)   all freehold and leasehold property plant and equipment and other fixed assets, which are or may hereafter become vested in it.
Arnold Bloch Leibler   Deed of Charge | Page 1



    Corporations Act” means the Corporations Act 2001 (Cth).
    Controller” means, in relation to a person’s property:
  (a)   a receiver or receiver and manager of that property; or
  (b)   anyone else who (whether or not as agent for the person) is in possession, or has control of that property to enforce a Security Interest.
    Deed” means this deed of charge.
    Debtor” is a Relevant Party (other than the Chargor) that has borrowed or has obtained financial indebtedness directly from the Chargee.
    Enforcing Party” means the Chargee or any Receiver, agent, administrator, Attorney or Controller appointed under any Finance Document or any applicable law.
    Event of Default” means an “Event of Default (as defined and set out in clause 12.1 of the Securities Purchase Agreement).
    Finally Paid” means, in respect of the Secured Moneys or any other monetary liability under the Finance Documents, satisfaction of the following conditions:
  (a)   payment or satisfaction of it in full; and
  (b)   if the Chargee reasonably believes on the basis of legal advice (and that belief must be formed and notified to the Relevant Party within 10 Business Days of receipt of any such advice and in any event no later than 30 days after the payment or satisfaction of it in full) during the six months period from and including the day after the payment or satisfaction, that no person, including each Relevant Party, a liquidator, a provisional liquidator, administrator, trustee in bankruptcy, Receiver, receiver and manager, other Controller or similar official, has a legitimate right to recoup or claim repayment of any part of the amount paid or satisfied, whether under the laws of preferences, fraudulent dispositions or otherwise.

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