Common use of Fixed and floating charge Clause in Contracts

Fixed and floating charge. a) in consideration of the Supplier selling to the Customer Goods on credit, the Customer as beneficial owner does hereby charge all and every undertaking and all of its assets (including rights, titles and interests) of whatsoever nature and wheresoever situate both present and future with the payment to the Supplier of all moneys now or hereafter to become owing or payable to the Supplier by the Customer or enforcement of these Terms. b) the charge hereby created (“the Charge”) shall operate as: (1) a fixed charge as regards to freehold and leasehold property, uncalled capital, engines, machinery, plant, stock, books of account, debts, vouchers and other documents relating in any way to the business transactions of the Customer and all securities negotiable or otherwise, shares and documents evidencing title to or right to possession of any property and whether or not deposited with the Supplier by the Customer and the property mentioned in any such documents; and (2) as a floating charge in respect of all other assets hereby charged. c) the Customer shall immediately upon demand made on it by the Supplier execute in favour of the Supplier a deed of fixed and floating charge containing such covenants as the Supplier may reasonably require including without limitation the provisions of the Supplier’s standard form of deed of fixed and floating charge.

Fixed and floating charge. a) in 19.1 In consideration of the Supplier selling to the Customer Goods on credit, the Customer as beneficial beneficial owner does hereby charge all and every undertaking and all of its assets (including rights, titles and interests) of whatsoever nature and wheresoever situate both present and future with the payment to the Supplier of all moneys now or hereafter to become owing or payable to the Supplier by the Customer or enforcement of these Terms. b) the 19.2 The charge hereby created (“the Charge”) shall operate as: (1a) a fixed fixed charge as regards to freehold and leasehold property, uncalled capital, engines, machinery, plant, stock, books of account, debts, vouchers and other documents relating in any way to the business transactions of the Customer and all securities negotiable or otherwise, shares and documents evidencing title to or right to possession of any property and whether or not deposited with the Supplier by the Customer and the property mentioned in any such documents; and (2b) as a floating floating charge in respect of all other assets hereby charged. c) the 19.3 The Customer shall immediately upon demand made on it by the Supplier execute in favour of the Supplier a deed of fixed fixed and floating floating charge containing such covenants as the Supplier may reasonably require including without limitation the provisions of the Supplier’s standard form of deed of fixed fixed and floating floating charge.