Common use of Fixed Security Clause in Contracts

Fixed Security. (a) The Chargor, as security for the payment of all the Secured Liabilities, charges in favour of the Security Agent:- by way of first fixed charge:- (i) its interest in all the Shares and their Related Rights; (ii) to the fullest extent permitted by law, all moneys standing to the credit of the Security Accounts; (iii) all of the Chargor's book and other debts (including all Inter-Company Loans), the proceeds of the same and all other moneys due and owing to the Chargor; and (iv) to the extent it is not assigned as expressed under paragraph (b) below the benefit of any guarantee, letter of credit or other credit enhancement granted to the Company in respect of an Inter-Company Loan in accordance with Clause 11.2 (Debt Service Reserve Account) of the Credit Agreement (in each case, "CREDIT ENHANCEMENT"). (b) The Chargor, as security for the payment of all the Secured Liabilities, assigns to the Security Agent by way of security all of the Inter-Company Loans and the benefit of any Credit Enhancement or the benefit of any guarantee from the Parent of the Inter-Company Loans. (c) The mortgages and charges and assignments created by this Clause 2 are made with full title guarantee.