Conversion to Revolving Assets. If any Collateral is not, or ceases to be, a Revolving Asset, and becomes subject to a fixed charge or transfer under this clause 3, the Secured Party may give the Grantor a notice stating that, from a date specified in the notice, the Collateral specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the Grantor. This may occur any number of times.
Appears in 3 contracts
Samples: General Security Agreement, General Security Agreement, General Security Agreement
Conversion to Revolving Assets. If any Collateral Collateral, is not, or ceases to be, a Revolving Asset, and becomes subject to a fixed charge or transfer under this clause 33.3, the Secured Party may give the each Grantor a notice stating that, from a date specified in the notice, the Collateral specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the relevant Grantor. This may occur any number of times.
Appears in 1 contract
Samples: General Security Deed (Broad Capital Acquisition Pty LTD)
Conversion to Revolving Assets. If any Collateral is not, or ceases to be, a Revolving Asset, and becomes subject to a fixed charge or transfer under this clause 3clause, the Secured Party may (at the direction of an Extraordinary Resolution of Voting Secured Creditors) give the Grantor a notice stating that, from a date specified in the notice, the Collateral specified in the notice is a Revolving Asset, or becomes subject to a floating charge or is transferred back to the Grantor. This may occur any number of times.
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