Common use of Floating Charge Clause in Contracts

Floating Charge. (a) The Chargor charges by way of a first floating charge all its assets not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment under this Clause. (b) Except as provided below, the Security Agent may by notice to the Chargor convert the floating charge created by this Subclause into a fixed charge as regards any of the Chargor’s assets specified in that notice, if: (i) an Event of Default is subsisting; or (ii) the Security Agent considers those assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process or to be otherwise in jeopardy. (c) The floating charge created by this Subclause may not be converted into a fixed charge solely by reason of: (i) the obtaining of a moratorium; or (ii) anything done with a view to obtaining a moratorium, under the Insolvency ▇▇▇ ▇▇▇▇. (d) The floating charge created by this Subclause will automatically convert into a fixed charge over all of the Chargor’s assets on the convening of any meeting of the members of the Chargor to consider a resolution to wind-up the Chargor (or not to wind up the Chargor). (e) The giving by the Security Agent of a notice under paragraph (b) above in relation to any asset of the Chargor will not be construed as a waiver or abandonment of the Security Agent’s rights to give any other notice in respect of any other asset or of any other right of any other Secured Party under this Deed or any other Finance Document. (f) The floating charge created by this Subclause is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 to the Insolvency ▇▇▇ ▇▇▇▇.

Floating Charge. (a) The Chargor charges by way of a first floating charge all its of those assets purported to be charged under Clauses 2.2 to 2.4 that are not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment assigned under this ClauseDeed. (b) Except as provided below, the Security Collateral Agent may by notice to the Chargor convert the floating charge created by the Chargor under this Subclause Deed into a fixed charge as regards any of the Chargor’s assets specified in that notice, if: (i) an Event of Default is subsisting; orcontinuing; (ii) the Security Collateral Agent considers those assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process or to be otherwise in jeopardy; or (iii) the Chargor fails to comply, or takes or threatens to take any action which, in the reasonable opinion of the Collateral Agent, is likely to result in it failing to comply with its obligations under paragraph (a) of Clause 4 (Restrictions on Dealing). (c) The floating charge created by under this Subclause Deed may not be converted into a fixed charge solely by reason of: (i) the obtaining of a moratorium; or (ii) anything done with a view to obtaining a moratorium, under section 1A of the Insolvency ▇▇▇ ▇▇▇▇. (d) The floating charge created by under this Subclause Deed will (in addition to the circumstances in which the same will occur under general law) automatically convert into a fixed charge over all of the Chargor’s assets that are subject to the floating charge: (i) if an administrator is appointed or the Collateral Agent receives notice of an intention to appoint an administrator; or (ii) on the convening of any meeting of the members of the Chargor to consider a resolution to wind-up wind the Chargor up (or not to wind up the ChargorChargor up); or (iii) upon the occurrence of any analogous event in any jurisdiction. (e) The floating charge created under this Deed is a qualifying floating charge for the purpose of paragraph 14 of Schedule Bl to the Insolvency ▇▇▇ ▇▇▇▇. (f) The giving by the Security Collateral Agent of a notice under paragraph (b) above in relation to any asset of the Chargor will not be construed as a waiver or abandonment of the Security Collateral Agent’s rights to give any other notice in respect of any other asset or of any other right of any other Secured Party under this Deed or any other Finance Loan Document. (fg) The Any charge which has been converted into a fixed charge in accordance with paragraphs (b) or (d) above may, by notice in writing given at any time by the Collateral Agent to the Chargor, be reconverted into a floating charge created by this Subclause is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 in relation to the Insolvency ▇▇▇ ▇▇▇▇Security Assets specified in such notice.

Floating Charge. (a) The Chargor charges in favour of the Security Agent by way of a first floating charge all its assets rights in respect of any amount standing to the credit of the Security Account and the debt represented by it not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment under this Clause. (b) Except as provided below, the The Security Agent may by notice to the Chargor convert the floating charge created by the Chargor under this Subclause Deed into a fixed charge as regards any of the Chargor’s 's assets specified in that notice, if: (i) an Event of Default is subsisting; orcontinuing; (ii) the Security Agent considers those assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process or to be otherwise in jeopardy; or (iii) the Chargor fails to comply, or takes or threatens to take any action which, in the reasonable opinion of the Security Agent, is likely to result in the Chargor failing to comply with its obligations under Clause 4 (Restrictions on dealings), and upon issue of such notice by the Security Agent to the Chargor in respect of any asset of the Chargor, the floating charge over that asset shall immediately crystallise and become a fixed charge. (c) The floating charge created by under this Subclause may not be converted into Deed will (in addition to the circumstances in which such a fixed charge solely by reason of: (iconversion will occur under general law) the obtaining of a moratorium; or (ii) anything done with a view to obtaining a moratorium, under the Insolvency ▇▇▇ ▇▇▇▇. (d) The floating charge created by this Subclause will automatically convert into a fixed charge over all of the Chargor’s assets Security Assets on the convening of any meeting of the members of the Chargor to consider a resolution to wind-wind up the Chargor (or not to wind up the Chargor). (ed) The giving by the Security Agent of a notice under paragraph (b) above in relation to any asset of the Chargor will not be construed as a waiver or abandonment of the Security Agent’s 's rights to give any other notice in respect of any other asset or of any other right of any other Secured Finance Party under this Deed or any other Finance Document. (f) The floating charge created by this Subclause is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 to the Insolvency ▇▇▇ ▇▇▇▇.

Floating Charge. (a) The Each Chargor charges by way of a first floating charge all of its assets whatsoever and wheresoever not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment under this ClauseDeed. (b) Except as provided below, the Security Collateral Agent may by notice in writing to the a Chargor convert the floating charge created by that Chargor under this Subclause Deed into a fixed charge as regards any of the that Chargor’s assets specified in that notice, if: (i) an Event of Default is subsisting; orcontinuing; (ii) the Security Collateral Agent reasonably considers those assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process or to be otherwise in jeopardy; or (iii) that Chargor fails to comply, or takes or threatens to take any action which, in the reasonable opinion of the Collateral Agent, is likely to result in it failing to comply with its obligations under Clause 5(a) (Restrictions on dealing). (c) The floating charge created by under this Subclause Deed may not be converted into a fixed charge solely by reason of: (i) the obtaining of a moratorium; or (ii) anything done with a view to obtaining a moratorium, under section 1A to the Insolvency ▇▇▇ ▇▇▇▇. (d) The floating charge created by under this Subclause Deed will (in addition to the circumstances in which the same will occur under general law) automatically convert into a fixed charge over all of the each Chargor’s assets on if an administrator is appointed or the convening Collateral Agent receives notice of any meeting of the members of the Chargor an intention to consider a resolution to wind-up the Chargor (or not to wind up the Chargor).appoint an administrator (e) The floating charge created under this Deed is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 to the Insolvency ▇▇▇ ▇▇▇▇. (f) The giving by the Security Collateral Agent of a notice under paragraph (b) above in relation to any asset of the a Chargor will not be construed as a waiver or abandonment of the Security Collateral Agent’s rights to give any other notice in respect of any other asset or of any other right of any other Secured Party under this Deed or any other Finance Security Document. (f) The floating charge created by this Subclause is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 to the Insolvency ▇▇▇ ▇▇▇▇.

Floating Charge. (a) The Chargor charges by way of a first floating charge all of its assets not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment under this ClauseClause 2. (b) Except as provided below, the Security Agent may by notice to the Chargor convert the floating charge created by the Chargor under this Subclause Clause 2.12 into a fixed charge as regards any of the Chargor’s 's assets specified in that notice, if: (i) an Event of Default has occurred which is subsisting; orcontinuing; (ii) the Security Agent considers those assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process or to be otherwise in jeopardy; or (iii) the Chargor fails to comply, or takes or threatens to take any action which, in the reasonable opinion of the Security Agent, is likely to result in the Chargor failing to comply with its obligations under Clause 4 (Restrictions on Dealings), and upon issue of such notice by the Security Agent to the Chargor in respect of any asset of the Chargor, the floating charge over that asset shall immediately crystallise and become a fixed charge. (c) The floating charge created by under this Subclause may not be converted into Clause 2.12 will (in addition to the circumstances in which such a fixed charge solely by reason of: (iconversion will occur under general law) the obtaining of a moratorium; or (ii) anything done with a view to obtaining a moratorium, under the Insolvency ▇▇▇ ▇▇▇▇. (d) The floating charge created by this Subclause will automatically convert into a fixed charge over all of the Chargor’s 's assets on the convening of any meeting of the members of the Chargor to consider a resolution to wind-wind up the Chargor (or not to wind up the Chargor). (ed) The giving by the Security Agent of a notice under paragraph (b) above in relation to any asset of the Chargor will not be construed as a waiver or abandonment of the Security Agent’s 's rights to give any other notice in respect of any other asset or of any other right of any other Secured Party under this Deed or any other Finance Document. (f) The floating charge created by this Subclause is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 to the Insolvency ▇▇▇ ▇▇▇▇.

Floating Charge. (a) The Chargor charges by way of a first floating charge all its assets not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment under this Clause. (b) Except as provided below, the Security Agent The Chargee may by notice to the Chargor convert the floating charge created by the Chargor under this Subclause Deed into a fixed charge as regards any of the Chargor’s assets specified in that notice, if: (i) an Event of Default is subsisting; oroutstanding; (ii) the Security Agent Chargee considers those assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process or to be otherwise in jeopardy; (iii) the Chargor fails to comply, or takes or threatens to take any action which, in the reasonable opinion of the Chargee, is likely to result in the Chargor failing to comply with its obligations under Clause 4 (Restrictions on dealings), and upon issue of such notice by the Chargee to the Chargor in respect of any asset of the Chargor, the floating charge over that asset shall immediately crystallise and become a fixed charge. (c) The floating charge created by under this Subclause may not be converted into a fixed charge solely by reason of: Deed will (iin addition to the circumstances in which the same will occur under general law) the obtaining of a moratorium; or (ii) anything done with a view to obtaining a moratorium, under the Insolvency ▇▇▇ ▇▇▇▇. (d) The floating charge created by this Subclause will automatically convert into a fixed charge over all of the Chargor’s assets on the convening of any meeting of the members of the Chargor to consider a resolution to wind-wind up the Chargor (or not to wind up the Chargor). (ed) The giving by the Security Agent Chargee of a notice under paragraph (b) above in relation to any asset of the Chargor will not be construed as a waiver or abandonment of the Security AgentChargee’s rights to give any other notice in respect of any other asset or of any other right of any other Secured Finance Party under this Deed or any other Finance Document. (f) The floating charge created by this Subclause is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 to the Insolvency ▇▇▇ ▇▇▇▇.

Floating Charge. (a) The Chargor charges by way of a first floating charge all its of those assets purported to be charged under Clauses 2.2 to 2.4 that are not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment under this ClauseDeed. (b) Except as provided below, the Security Collateral Agent may by notice to the Chargor convert the floating charge created by the Chargor under this Subclause Deed into a fixed charge as regards any of the Chargor’s assets specified in that notice, if: (i) an Event of Default is subsisting; orcontinuing; (ii) the Security Collateral Agent considers those assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process or to be otherwise in jeopardy; or (iii) the Chargor fails to comply, or takes or threatens to take any action which, in the reasonable opinion of the Collateral Agent, is likely to result in it failing to comply with its obligations under paragraph (a) of Clause 4 (Restrictions on Dealing). (c) The floating charge created by under this Subclause Deed may not be converted into a fixed charge solely by reason of: (i) the obtaining of a moratorium; or (ii) anything done with a view to obtaining a moratorium, under section 1A of the Insolvency ▇▇▇ ▇▇▇▇. (d) The floating charge created by under this Subclause Deed will (in addition to the circumstances in which the same will occur under general law) automatically convert into a fixed charge over all of the Chargor’s assets that are subject to the floating charge: (i) if an administrator is appointed or the Collateral Agent receives notice of an intention to appoint an administrator; or (ii) on the convening of any meeting of the members of the Chargor to consider a resolution to wind-up wind the Chargor up (or not to wind up the ChargorChargor up); or (iii) upon the occurrence of any analogous event in any jurisdiction. (e) The floating charge created under this Deed is a qualifying floating charge for the purpose of paragraph 14 of Schedule Bl to the Insolvency ▇▇▇ ▇▇▇▇. (f) The giving by the Security Collateral Agent of a notice under paragraph (b) above in relation to any asset of the Chargor will not be construed as a waiver or abandonment of the Security Collateral Agent’s rights to give any other notice in respect of any other asset or of any other right of any other Secured Party under this Deed or any other Finance Loan Document. (fg) The Any charge which has been converted into a fixed charge in accordance with paragraphs (b) or (d) above may, by notice in writing given at any time by the Collateral Agent to the Chargor, be reconverted into a floating charge created by this Subclause is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 in relation to the Insolvency ▇▇▇ ▇▇▇▇Security Assets specified in such notice.

Floating Charge. (a) The Chargor charges by way of a first floating charge all its of those assets purported to be charged under Clause 2.2 that are not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment assigned under this ClauseDeed. (b) Except as provided below, the Security Collateral Agent may by notice to the Chargor convert the floating charge created by the Chargor under this Subclause Deed into a fixed charge as regards any of the Chargor’s assets specified in that notice, if: (i) an Event of Default is subsisting; orcontinuing; (ii) the Security Collateral Agent considers those assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process or to be otherwise in jeopardy; or (iii) the Chargor fails to comply, or takes or threatens to take any action which, in the reasonable opinion of the Collateral Agent, is likely to result in it failing to comply with its obligations under paragraph (a) of Clause 4 (Restrictions on Dealing). (c) The floating charge created by under this Subclause Deed may not be converted into a fixed charge solely by reason of: (i) the obtaining of a moratorium; or (ii) anything done with a view to obtaining a moratorium, under section 1A of the Insolvency ▇▇▇ ▇▇▇▇. (d) The floating charge created by under this Subclause Deed will (in addition to the circumstances in which the same will occur under general law) automatically convert into a fixed charge over all of the Chargor’s assets that are subject to the floating charge: (i) if an administrator is appointed or the Collateral Agent receives notice of an intention to appoint an administrator; or (ii) on the convening of any meeting of the members of the Chargor to consider a resolution to wind-up wind the Chargor up (or not to wind up the ChargorChargor up); or (iii) upon the occurrence of any analogous event in any jurisdiction. (e) The floating charge created under this Deed is a qualifying floating charge for the purpose of paragraph 14 of Schedule Bl to the Insolvency ▇▇▇ ▇▇▇▇. (f) The giving by the Security Collateral Agent of a notice under paragraph (b) above in relation to any asset of the Chargor will not be construed as a waiver or abandonment of the Security Collateral Agent’s rights to give any other notice in respect of any other asset or of any other right of any other Secured Party under this Deed or any other Finance Loan Document. (fg) The Any charge which has been converted into a fixed charge in accordance with paragraphs (b) or (d) above may, by notice in writing given at any time by the Collateral Agent to the Chargor, be reconverted into a floating charge created by this Subclause is a qualifying floating charge for the purpose of paragraph 14 of Schedule B1 in relation to the Insolvency ▇▇▇ ▇▇▇▇Security Assets specified in such notice.