Crystallization of Floating Charge. The floating charge created by Section 2.2(b) shall become a fixed charge immediately upon the earlier of:
(a) the Holder giving notice to that effect to the Corporation; or
(b) the Holder taking any step to accelerate or demand payment of any amount owing under this debenture or giving notice of its intention or taking any steps to enforce the Security.
Crystallization of Floating Charge. Without limiting its rights hereunder to crystallize and fix the floating charge created by Section 4.1.4 in any other manner or the powers, rights and remedies of the Lender hereunder in respect of the Collateral, the Lender may, at any time and from time to time, crystallize and fix such floating charge in respect of all or a portion of the property subject thereto by giving notice to the Borrower thereof, without any requirement for further intervention by the Lender (whether by the taking of possession, the appointment of a Receiver or otherwise). To the extent permitted by applicable law, but not in limitation of any occurrences that at law cause a floating charge security to crystallize or become fixed, the Borrower agrees that the floating charge security created by Section 4.1.4 shall crystallize and become fixed immediately and without any requirement for any notice or intervention on the part of the Lender, if an Event of Default occurs. The Borrower shall execute such further documents, make all filings and registrations, provide such legal opinions and do all acts reasonably requested by the Lender to give effect to the foregoing. The Borrower shall, forthwith on demand being made by the Lender, pay all reasonable fees, costs and expenses incurred by the Lender or its agents in connection with the filing, registering and depositing of this Agreement and all such supplementary and corrective instruments and all additional mortgage and security documents. The fees, costs and expenses incurred by the Lender or its agents hereunder shall be secured hereby and shall become part of the Obligations.
Crystallization of Floating Charge. The floating charge created by subsection 1.01(1) of Section 1.01 will become a fixed charge on the property, assets, effects and undertaking of the Company charged thereby upon the earlier of:
(1) the Obligations becoming due and payable in accordance with Section 6.01 of this Security Agreement, if instructed to do so by Holders' Action, and the Secured Party giving written notice to the Company that such floating charge has become a fixed charge on the property, assets, effects and undertaking of the Company charged thereby; and
(2) the occurrence of any other event which, by operation of law, would result in such floating charge becoming a fixed charge on the property, assets, effects and undertaking of the Company charged thereby.
Crystallization of Floating Charge. Without limiting its rights hereunder to crystallize the Charge in any other manner, the Collateral Agent, upon the occurrence of and during the continuance of an Event of Default, may to the extent permitted by applicable law crystallize and fix the Charge in respect of all or a portion of the Charged Property by notice in writing to the applicable Obligor without any requirement for further intervention by the Collateral Agent (whether by the taking of possession, the appointment of a Receiver or otherwise), but without in any way limiting the powers, rights and remedies of the Collateral Agent hereunder in respect of the Charged Property.
Crystallization of Floating Charge. Without limiting its rights hereunder to crystallize the Charge set forth in Section 3.1(b) above in any other manner, the Secured Creditor, upon the occurrence of and during the continuance of an Event of Default, may to the extent permitted by Applicable Law crystallize and fix the Charge set forth in Section 3.1(b) above in respect of all or a portion of the Charged Property by notice in writing to the Chargor without any requirement for further intervention by the Secured Creditor (whether by the taking of possession, the appointment of a Receiver or otherwise), but without in any way limiting the powers, rights and remedies of the Secured Creditor hereunder in respect of the Charged Property.
Crystallization of Floating Charge
