CONVERSION BY NOTICE. The Security Trustee may convert any floating charge created pursuant to Clause 4.1 into a fixed charge (either generally or specifically) by notice to the relevant Chargor specifying the relevant Collateral:
(a) if it (acting reasonably) considers it desirable to do so in order to protect or preserve the Security Interests over that Collateral and/or the priority of those Security Interests; and/or
(b) while an Event of Default is continuing.
CONVERSION BY NOTICE. The Security Agent may convert the floating charge over all or any of the Security Assets II into a fixed charge by notice to the Assignor specifying the relevant Security Assets II:
(a) if it considers it desirable to do so in order to protect or preserve the Security Interests II over those Security Assets II and/or the priority of those Security Interests II; and/or
(b) while an Event of Default is continuing.
CONVERSION BY NOTICE. The Agent may by notice in writing at any time to the Chargor convert the floating charge created by the Chargor pursuant to Clause 4.1 above with immediate effect into a fixed charge (either generally or specifically) as regards any assets of the Chargor specified in the notice if an Event of Default has occurred for so long as the same is continuing.
CONVERSION BY NOTICE. Burdale may by notice to the Company convert the floating charge created by this Deed into a fixed charge in relation to all or any of the Company' s assets specified in the notice if:
(a) Burdale has reasonable grounds for considering those assets to be in jeopardy, by legal process or otherwise; or
(b) an Event of Default has occurred; or
(c) Burdale becomes aware or has reason to believe that steps have been taken which would, in the reasonable opinion of Burdale, be likely to lead to the presentation of a petition to appoint an administrator in relation to the Company (or such an administrator has been appointed) or to wind up the Company (or that such a petition has been presented).
CONVERSION BY NOTICE. The Security Agent may by notice in writing to the Chargor convert the floating charge created by this Deed into a fixed charge in relation to all or any of the Chargor's assets specified in the notice if:
3.2.1 the Security Agent has reasonable grounds for considering those assets to be in jeopardy, by legal process or otherwise;
3.2.2 an Event of Default is continuing;
3.2.3 the Security Agent becomes aware or reasonably believes that all or any of the Chargor's assets specified in the notice may be sold or otherwise disposed of (other than in accordance with the Finance Documents);
3.2.4 the Security Agent has reasonable grounds for considering that converting the floating charge created by this Deed into a fixed charge is necessary in order to protect the priority of its Security in relation to all or any of the Chargor's assets specified in the notice;
3.2.5 the Security Agent becomes aware or reasonably believes that steps have been taken which would, in the reasonable opinion of the Security Agent, be likely to lead to the making of an application to appoint an administrator (whether out of court or otherwise) in relation to the Chargor (or that such an application has been made, or that such an administrator has been appointed) or the making of a petition to wind up the Chargor (or that such a petition has been presented or that a liquidator has been appointed); and/or
3.2.6 steps have been taken to appoint an administrator of the Chargor (whether out of court or otherwise).
CONVERSION BY NOTICE. Burdale may by notice to any Chargor convert the floating charge created by this Deed into a fixed charge in relation to all or any of such Chargor's assets specified in the notice if:
(a) an Event of Default has occurred and is continuing; or
(b) Burdale becomes aware that steps have been taken to wind up such Chargor (or that such a petition has been presented).
CONVERSION BY NOTICE. The Collateral Agent may convert the floating Charge into a fixed Charge (either generally or specifically) by notice to the Company specifying the relevant Charged Assets:
3.5.1 if it considers (on reasonable grounds) it desirable to do so in order to protect or preserve the Charges over those Charged Assets and/or the priority of those Charges and/or
3.5.2 at any time after an Enforcement Event occurs.
CONVERSION BY NOTICE. The Security Trustee may convert the floating Charge over all or any of the Charged Property into a fixed Charge by notice to the Guarantor or, as applicable, the Issuer specifying the relevant Charged Property (either generally or specifically):
(a) if it considers it desirable to do so in order to protect or preserve the Charges over that relevant Charged Property and/or the priority of those Charges; and/or
(b) during an Enforcement Time.
CONVERSION BY NOTICE. Congress may by notice to any Chargor convert the floating charge created by this Deed into a fixed charge in relation to all or any of such Chargor’s assets specified in the notice if:
(a) Congress has reasonable grounds for considering those assets to be in jeopardy, by legal process or otherwise; or
(b) an Event of Default has occurred and is continuing; or
(c) Congress becomes aware or has reason to believe that steps have been taken which would, in the reasonable opinion of Congress, be likely to lead to the presentation of a petition to appoint an administrator in relation to such Chargor (or that such a petition has been presented or such an administrator has been appointed) or to wind up such Chargor (or that such a petition has been presented).
CONVERSION BY NOTICE. The Collateral Agent may, by written notice to a Chargor, convert the floating charge created under this Deed into a fixed charge with immediate effect as regards all or any of the Security Assets subject to the floating charge and specified in the notice if:
(a) an Event of Default has occurred and is continuing; or
(b) it considers (acting reasonably) any Security Assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process.
