Common use of Reconversion Clause in Contracts

Reconversion. Any charge which has crystallised under Clause 4.1 (Crystallisation by notice) or Clause 4.2 (Automatic crystallisation) may, by notice in writing given at any time by the Security Agent to the relevant Chargor (or to the Parent on its behalf), be reconverted into a floating charge in relation to the Assets specified in such notice.

Reconversion. Any charge which has crystallised under Clause 4.1 (Crystallisation by notice) or Clause 4.2 (Automatic crystallisation) may, by notice in writing given at any time by the Security Agent Trustee to the relevant Chargor (or to the Parent on its behalf)Chargor, be reconverted into a floating charge in relation to the Assets specified in such notice.

Reconversion. Any charge which has crystallised under Clause 4.1 (Crystallisation by notice) or Clause 4.2 (Automatic crystallisation) may, by notice in writing given at any time by the Security Agent Trustee to the relevant Chargor (or to the Parent on its behalf)Chargor, be reconverted into a floating charge in relation to the Assets specified in such notice.

Reconversion. Any charge which has crystallised under Clause 4.1 clause 5.1 (Crystallisation by notice) or Clause 4.2 5.2 (Automatic crystallisation) may, by notice in writing given at any time by the Security Agent Chargee to the relevant Chargor (or to the Parent on its behalf)Chargor, be reconverted into a floating charge in relation to the Assets specified in such notice.