Charged Securities Clause Samples

Charged Securities. The securities in the deposit, to the extent such securities constitute Other Collateral (as such term is defined in the Additional Conditions), will be, and will always be considered to be, pledged and charged in favor of the Bank, and for the purpose of reinforcing this, they shall be assigned by way of charge to the Bank, as fixed collateral and surety, and the Bank may, but is not obliged, to sell all or any of the securities in the deposit, subject to ten days prior notice (such prior notice shall be given in accordance with clause 19 of the Additional Conditions and may be given at any time from and after any notice is given by the Bank to the customer of a declaration under any of paragraphs (a), (b) or (c) of clause 9 of the Additional Conditions (as set forth after clause 9.25 of the Additional Conditions) and such ten days notice shall be considered as reasonable notice for the purpose of Clause 19 (b) to the Pledges Law, 5727-1967 or any other law which shall replace it), and use the consideration in accordance with clause 10 of the Additional Conditions, such being without derogating from the Bank’s right to take other steps for the purpose of collecting the said debit balance. The customers undertake not to create, without the Banks prior written consent thereto, any pledge, assignment or other charge on any such securities with prior, pari passu or subordinated rights to the rights given to the Bank pursuant to this document and any other documents that the customer signed and/or shall sign in the future.

Charged Securities. The Chargor as legal and beneficial owner and as a continuing security for the payment and discharge of the Indebtedness and for the observance and performance of its obligations under the Facility Agreement and the Promissory Note and this Memorandum of Charge, hereby charges in favour of the Lender with the intent that it shall take effect by way of first fixed charge, and assigns absolutely to the Lender, all its issued ordinary shares in the capital of Powerhouse Electric.

Charged Securities. ‌ The Charged Securities listed in Part 2 of Schedule 2 (Details Of Security Assets) are fully paid and constitute the entire share capital owned by each Original Chargor in the relevant company and constitute the entire share capital of each such company.

Charged Securities