ASSIGNMENT, FLOATING CHARGE AND DECLARATION OF TRUST Clause Samples
The 'Assignment, Floating Charge and Declaration of Trust' clause establishes the rights and mechanisms by which a party may transfer its interests, create a security interest over assets, or hold assets on behalf of another. In practice, this clause allows a party to assign contractual rights or obligations to a third party, grant a floating charge over certain assets as collateral for obligations, and formally declare that certain assets are held in trust for another party. Its core function is to provide flexibility in managing contractual rights and obligations, facilitate secured lending, and clarify the legal status of assets, thereby reducing uncertainty and protecting the interests of involved parties.
ASSIGNMENT, FLOATING CHARGE AND DECLARATION OF TRUST. The Issuer with full title guarantee and as continuing security for all the moneys and other Liabilities payable or owing by the Issuer under this Deed hereby assigns absolutely by way of first fixed security to the Trustee all of the Issuer's right, title, and interest in and to, and the entire benefit of, the Programme Dealer Agreement and charges to the Trustee, by way of first floating charge, the whole of its undertaking and assets to the extent that such undertaking and assets are not effectively encumbered by the security created by or pursuant to any MTN Supplement or any Supplementary Security Document executed in relation to any Series and the Trustee shall hold the property so assigned or charged in this Clause 4.1 on trust for itself and the Secured Creditors of all Series, provided that such security may only be enforced and the floating charge shall crystallise in accordance with the provisions of Clause 6.
ASSIGNMENT, FLOATING CHARGE AND DECLARATION OF TRUST. The Issuer with full title guarantee and as continuing security for all the moneys and other Liabilities payable or owing by the Issuer under this Deed hereby assigns absolutely by way of first fixed security to the Trustee all of the Issuer's right, title, and interest in and to, and the entire benefit of, the Programme Dealer Agreement and charges to the Trustee, by way of first floating charge, the whole of its undertaking and assets to the extent that such undertaking and assets are not effectively encumbered by the security created by or pursuant to any MTN Supplement or any Supplementary Security Document executed in relation to any Series and the Trustee shall hold the property so assigned or charged in this Clause 4.1 on trust for itself and the Secured Creditors of all Series, provided that such security may only be enforced and the floating charge shall crystallise in accordance with the provisions of Clause 6.
4.1 ADDITIONAL SECURITY Additional security in respect of each Series or (provided that the Trustee consents to the same) in respect of any transaction entered into by the Issuer relating to or connected with any arrangement for the issue of any Series of Notes shall be created in accordance with this Deed, by the MTN Supplement relating to such Series and Supplementary Security Document (if any) as may be required.