First Floating Charge Sample Clauses

First Floating Charge. For the consideration aforesaid, the Borrower as beneficial owner HEREBY CHARGES and agrees to charge in favour of the Bank as continuing security for the payment of all moneys and the discharge of all obligations and liabilities whatsoever hereby covenanted to be paid or discharged or otherwise hereby secured by way of a FIRST FLOATING CHARGE free from all liens charges and other encumbrances, all its present and future rights, title, interests, benefits, advantages, permits, licences and remedies in under or arising out of all the Receivables and benefits rights and remedies of the Borrower under or arising from all guarantees, bills of exchange, promissory notes and other securities with respect to the Receivables, all the Contracts of Sale, all the Contract Rights, all the Moneys and all claims for moneys payable or to become payable, including without limitation damages, arising out of the foregoing, the benefit of any securities for the time being held by the Borrower in respect of any of the foregoing; and all its present and future rights, title, interest, benefits, advantages, permits, licences and remedies in under or arising out of all the Goods (the property, assets and rights comprised within the floating charge created by this clause hereinafter called “the Floating Charge Assets”).
Sample 1
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First Floating Charge. The Company hereby charges by way of first floating charge and by way of further continuing security to and in favour of the Agent for the discharge and payment of the Secured Obligations all its right, title, interest and benefit from time to time, present and future, in, to, under and in respect of all Eligible Inventory and Eligible In-Transit Inventory (including all stock in trade).
Sample 1
First Floating Charge. For the consideration aforesaid, the Borrower as beneficial owner XXXXXX CHARGES and agrees to charge in favour of the Bank as continuing security for the payment of all moneys and the discharge of all obligations and liabilities whatsoever hereby covenanted to be paid or discharged or otherwise hereby secured by way of a FIRST FLOATING CHARGE free from all liens charges and other encumbrances, all its present and future rights, title, interests, benefits, advantages, permits, licences and remedies in under or arising out of all the Receivables and benefits rights and remedies of the Borrower under or arising from all guarantees, bills of exchange, promissory notes and other securities with respect to the Receivables, all the Contracts of Sale, all the Contract Rights, all the Moneys and all claims for moneys payable or to become payable, including without limitation damages, arising out of the foregoing, the benefit of any securities for the time being held by the Borrower in respect of any of the foregoing; and all its present and future rights, title, interest, benefits, advantages, permits, licences and remedies in under or arising out of all the Goods (the property, assets and rights comprised within the floating charge created by this clause hereinafter called “the Floating Charge Assets”) PROVIDED THAT in relation to any and all Floating Charge Assets already subject to first fixed charges and/or first priority assignments pursuant to any and all other security documents made between the Borrower and the Bank, this clause shall operate to create the first floating charge referred to herein only if and in so far as the charges on such Floating Charge Assets shall for any reason be ineffective as fixed charges or (as the case may be) the assignments thereof shall for any reason be ineffective as first priority assignments.
Sample 1

Related to First Floating Charge

  • Floating Charge (a) The Chargor charges by way of a first floating charge all its assets not at any time otherwise effectively mortgaged, charged or assigned by way of fixed mortgage, charge or assignment under this Clause.

  • Parking Charges Any parking charges or other costs levied, assessed or imposed by, or at the direction of, or resulting from statutes or regulations, or interpretations thereof, promulgated by any governmental authority or insurer in connection with the use or occupancy of the Building or the Project.

  • No Outstanding Charges There are no defaults in complying with the terms of the Mortgage, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable. The Seller has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day which precedes by one month the related Due Date of the first installment of principal and interest;

  • Fixed Charge Ratio Maintain a Fixed Charge Ratio as determined as of each Calculation Date of not less than 1.50:1. The Fixed Charge Ratio covenant shall be tested by the Administrative Agent as of each Calculation Date with results based upon the results for the most recent Calculation Period, such calculation and results to be verified by the Administrative Agent.

  • Fixed Charge Coverage Ratio The Borrower will not permit its Fixed Charge Coverage Ratio to be less than 1.10 to 1.00 as of each fiscal quarter end.

  • Minimum Fixed Charge Coverage Ratio The Borrowers shall not permit the Fixed Charge Coverage Ratio to be less than 1.05 to 1.00, measured as of the last day of each Fiscal Quarter for the prior four fiscal quarters subject to adjustments to such measurement period as set forth in the definition of Fixed Charge Coverage Ratio.

  • Fixed Charges Coverage Ratio The Company will not permit the Consolidated Fixed Charge Coverage Ratio to be less than 2.00 to 1.00.

  • Fixed Charge Coverage 45 SECTION 5.10.

  • Continuing Security Interest; Assignment This Agreement shall create a continuing security interest in the Pledged Collateral and shall (i) be binding upon the Pledgors, their respective successors and assigns and (ii) inure, together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent and the other Secured Parties and each of their respective successors, transferees and assigns. No other persons (including any other creditor of any Pledgor) shall have any interest herein or any right or benefit with respect hereto. Without limiting the generality of the foregoing clause (ii), any Secured Party may assign or otherwise transfer any indebtedness held by it secured by this Agreement to any other person, and such other person shall thereupon become vested with all the benefits in respect thereof granted to such Secured Party, herein or otherwise, subject however, to the provisions of the Indenture. Each of the Pledgors agrees that its obligations hereunder and the security interest created hereunder shall continue to be effective or be reinstated, as applicable, if at any time payment, or any part thereof, of all or any part of the Secured Obligations is rescinded or must otherwise be restored by the Secured Party upon the bankruptcy or reorganization of any Pledgor or otherwise.

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