Common use of Conversion to Revolving Assets Clause in Contracts

Conversion to Revolving Assets. If any Collateral is not, or ceases to be, a Revolving Asset, and becomes subject to a fixed charge or transfer under this clause 3, the Secured Party may give the Grantor a notice stating that, from a date specified in the notice, the Collateral specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the Grantor. This may occur any number of times.

Conversion to Revolving Assets. If any Collateral Collateral, is not, or ceases to be, a Revolving Asset, and becomes subject to a fixed charge or transfer under this clause 33.3, the Secured Party may give the each Grantor a notice stating that, from a date specified in the notice, the Collateral specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the relevant Grantor. This may occur any number of times.

Conversion to Revolving Assets. If any Collateral is not, or ceases to be, a Revolving Asset, and becomes subject to a fixed charge or transfer under this clause 3clause, the Secured Party may (at the direction of an Extraordinary Resolution of Voting Secured Creditors) give the Grantor a notice stating that, from a date specified in the notice, the Collateral specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the Grantor. This may occur any number of times.