Crystallisation by notice. The Security Agent may at any time by notice in writing to the relevant Company convert the floating charge created by Clause 3.3 (Floating Charge) with immediate effect into a fixed charge as regards any property or assets specified in the notice if an Event of Default has occurred and is continuing.
Crystallisation by notice. The Security Trustee may at any time by notice in writing to the Chargor convert the floating charge referred to in Clause 3.3 into a fixed charge with immediate effect as regards any Charged Property specified in the notice which the Security Trustee shall consider to be in danger of seizure, distress, diligence or other legal process or otherwise for any reason whatsoever in jeopardy.
Crystallisation by notice. The Security Agent may at any time immediately ------------------------- upon or at any time after the occurrence of an Event of Default by notice in writing to the Company and notwithstanding any delay or waiver of any previous default, convert any charge created under this Deed which then operates as a floating charge to a fixed charge in respect of any of the Security Assets specified in the notice.
Crystallisation by notice. The floating charge created by the Chargor in Clause 3.3 (Creation of floating charge) may be crystallised into a fixed charge by notice in writing given at any time by the Security Trustee to the Chargor (or to the Issuer on its behalf) if:
Crystallisation by notice. The floating charge created by each Chargor in Clause 3.3 (Creation of floating charge) may, subject to Clauses 4.5 (Moratorium Assets) and 4.6 (Crystallisation exceptions), be crystallised into a fixed charge by notice in writing given at any time by the Security Agent to the relevant Chargor (or to the Parent on its behalf) if:
(a) a Declared Default has occurred and is continuing; or
(b) the Security Agent reasonably considers that any of the Assets expressed to be charged to the Security Agent by this Debenture is in danger of being seized or sold pursuant to any form of legal process; or
(c) a circumstance envisaged by paragraph (a) of Clause 4.2 (Automatic Crystallisation) occurs and the Security Agent in good faith considers that such crystallisation is necessary in order to protect the priority of its security constituted by the floating charge created by Clause 3.3 (Creation of floating charge). Such crystallisation shall take effect over the Floating Charge Assets or class of Assets specified in the notice. If no Floating Charge Assets are specified, it shall take effect over all Floating Charge Assets of the relevant Chargor.
Crystallisation by notice. The Agent may at any time convert the floating charge created by the Company in Clause 3.3 (Floating charge) into a fixed charge with immediate effect:
(a) if a Termination Event has occurred;
(b) by notice in writing to the Company as regards any Security Asset specified in such notice if the Agent considers that:
(i) any Security Asset may be in danger of being seized or sold pursuant to any form of legal process or otherwise in jeopardy; or
(ii) it is desirable to protect the priority of the Security.
Crystallisation by notice. 6 6.2 Automatic Crystallisation ............................................ 6
Crystallisation by notice. The European Agent may at any time by notice in writing to the Chargor convert the floating charge created by the Chargor in Clause 3.3 (Floating charge) into a fixed charge with immediate effect as regards any Secured Asset specified in the notice if:
Crystallisation by notice. The Chargee may at any time by notice in writing to the Chargor convert (i) any security interest created pursuant to Clause 3.2 (Security) which takes effect, or is recharacterised as a floating security interest or (ii) any floating security interest effected pursuant to Clause 3.3 (Floating security interest), with immediate effect into a fixed security interest if:
(a) an Enforcement Event has occurred;
(b) the Chargee considers that an Account or any credit balance on that Account may be in jeopardy or in danger of being seized pursuant to any form of legal process;
(c) the Chargee considers that it is desirable in order to protect the priority of the security; or
(d) the Chargor requests the Chargee to exercise any of its powers under this Deed.
Crystallisation by notice. The Security Holder may at any time by notice in writing (including by email) to the Company convert the floating charge created by clause 3.1 (Floating Charge) with immediate effect into a fixed charge as regards any property or assets specified in the notice if:
4.1.1 an Event of Default has occurred and is continuing;
4.1.2 the Security Holder reasonably considers that any of the Charged Property may be in jeopardy or in danger of being seized or sold pursuant to any form of legal process; or
4.1.3 the Security Holder reasonably considers that it is desirable in order to protect the priority of the security.
