Crystallisation. The Lender may, by notice in writing to the Chargor, convert the floating charge referred to in Clause 2.3(b) into a specific fixed charge as regards all or part of the Charged Assets, if an Event of Default has occurred and is continuing, or the Lender considers those assets to be in danger of being seized or sold under any distress, execution or sequestration or to be otherwise in jeopardy. The floating charge referred to in Clause 2.3(b) shall (in addition to the circumstances in which the same shall occur under general law) automatically be converted into a specific fixed charge:
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Crystallisation. The Lender may, by notice in writing to the Chargor, convert the floating charge referred to in Clause 2.3(b2.2(b) into a specific fixed charge as regards all or part of the Charged AssetsAssets described therein, if an Event of Default has occurred and is continuing, or the Lender considers those assets to be in danger of being seized or sold under any distress, execution or sequestration or to be otherwise in jeopardy. The floating charge referred to in Clause 2.3(b2.2(b) shall (in addition to the circumstances in which the same shall occur under general law) automatically be converted into a specific fixed charge:
Appears in 2 contracts
Samples: Deed (Borqs Technologies, Inc.), Borqs Technologies, Inc.
