Common use of General floating charge Clause in Contracts

General floating charge. As security for payment of the Secured Liabilities, the Owner charges in favour of the Lender, by way of first floating charge and (where applicable) with full title guarantee, all its undertaking and all its assets whatsoever and wheresoever, both present and future, except those assets mortgaged or charged by Clause 3.1 or by any other Finance Document to which the Owner is a party.