Definition of Plenus Group Floating Charge

  1. Plenus Group Floating Charge Means the first rank floating charge created under that certain debenture floating charge, by the Company, in favour of the Plenus Group on November 11, 2005. Receiver A receiver, trustee, administrator, administrative receiver, custodian, conservator, special manager or other similar official appointed by or on application of the Creditor, pursuant to the terms of this Debenture. Secured Liabilities As defined in Section 2.1. Security Interest Any mortgage, pledge, lien, hypothecation, assignment by way of security, security interest or other charge or encumbrance over, of or in the relevant property. Venture Loan Agreement As defined in the First Recital. 1.2 Words and defined terms denoting the singular number include the plural and vice versa and the use of any gender shall be applicable to all genders. 1.3 The paragraph headings are for the sake of convenience only and shall not affect the interpretation of this Debenture. 1.4 The recitals, schedules, appendices, annexes and exhibits hereto form an integral part of this Debenture. 2. PURPOSE 2.1 Secured Liabilities The Security Interests created by this Debenture are created to secure the full and punctual payment and performance of all the Companys obligations pursuant to the Venture Loan Agreement together with all expenses and other amounts due or to become due from the Company under the terms of this Debenture including, without limitation, reasonable legal fees, the fees and costs of any Receiver and any other costs incurred in realizing the Security Interests granted hereunder (all such amounts, the Secured Liabilities). 2.2 Prepayment Except as expressly set forth in Section 4.4 of the Venture Loan Agreement or any other provisions thereof: (i) the Company shall not be entitled to discharge any amount of the Secured Liabilities prior to the agreed date for payment thereof; and (ii) neither the Company nor any third party having a right liable to be affected by the charges hereby created or the realisation thereof shall have any right under Section 13(b) of the Pledge Law, 5727-1967 or any other statutory provisions in substitution therefor.

Definition of Plenus Group Floating Charge in Agreement

Plenus Group Floating Charge Means the first rank floating charge created under that certain debenture floating charge, by the Company, in favour of the Plenus Group on November 11, 2005. Receiver A receiver, trustee, administrator, administrative receiver, custodian, conservator, special manager or other similar official appointed by or on application of the Creditor, pursuant to the terms of this Debenture. Secured Liabilities As defined in Section 2.1. Security Interest Any mortgage, pledge, lien, hypothecation, assignment by way of security, security interest or other charge or encumbrance over, of or in the relevant property. Venture Loan Agreement As defined in the First Recital. 1.2 Words and defined terms denoting the singular number include the plural and vice versa and the use of any gender shall be applicable to all genders. 1.3 The paragraph headings are for the sake of convenience only and shall not affect the interpretation of this Debenture. 1.4 The recitals, schedules, appendices, annexes and exhibits hereto form an integral part of this Debenture. 2. PURPOSE 2.1 Secured Liabilities The Security Interests created by this Debenture are created to secure the full and punctual payment and performance of all the Companys obligations pursuant to the Venture Loan Agreement together with all expenses and other amounts due or to become due from the Company under the terms of this Debenture including, without limitation, reasonable legal fees, the fees and costs of any Receiver and any other costs incurred in realizing the Security Interests granted hereunder (all such amounts, the Secured Liabilities). 2.2 Prepayment Except as expressly set forth in Section 4.4 of the Venture Loan Agreement or any other provisions thereof: (i) the Company shall not be entitled to discharge any amount of the Secured Liabilities prior to the agreed date for payment thereof; and (ii) neither the Company nor any third party having a right liable to be affected by the charges hereby created or the realisation thereof shall have any right under Section 13(b) of the Pledge Law, 5727-1967 or any other statutory provisions in substitution therefor.