Charge over Secured Property Sample Clauses

A 'Charge over Secured Property' clause establishes a legal interest or security over specific assets owned by a borrower in favor of a lender or creditor. This clause typically details which assets are covered—such as real estate, equipment, or receivables—and outlines the lender's rights to enforce the charge if the borrower defaults on their obligations. Its core function is to provide the lender with a form of collateral, reducing their risk by ensuring they have a claim to certain property if the borrower fails to repay the debt.