any Exclusive Charge Sample Clauses
The 'any Exclusive Charge' clause defines a security interest or lien that is granted exclusively to a particular party, typically a lender or creditor, over specific assets or property. In practice, this means that the party holding the exclusive charge has priority over other creditors with respect to the charged assets, and no other security interests can be created over those assets without the exclusive charge holder's consent. This clause is essential for protecting the interests of the secured party by ensuring they have first claim to the specified assets in the event of default or insolvency, thereby reducing their risk and providing greater certainty regarding asset recovery.
any Exclusive Charge. The Beneficiary shall, not later than 60 days prior to the commencement of an Accounting Year (except in relation to the First Year) notify the Station Facility Owner of the estimate of the number of occasions upon which the permission to use will be exercised and so far as it is able to do so in advance, the Exclusive Station Services the Beneficiary requires in relation to the Station for that Accounting Year.