Common use of Notice of Security Clause in Contracts

Notice of Security. Pursuant to clause 3.1 (Grant of Security and Declaration of Trust) of the Deed of Charge and Assignment, as continuing security for the payment or discharge of the Secured Obligations, the Issuer with full title guarantee in favour of the Security Trustee (for its own account and as trustee for the Transaction Creditors), inter alia: - assigned by way of first fixed security the Benefit of all of its present and future rights, title and interests to, in and under the Charged Transaction Documents; - charged by way of first fixed charge the Benefit of the Accumulation Account, the Cash Collateral Account, the Counterparty Downgrade Collateral Account, the Distribution Account and each account of the Issuer other than any such accounts situated outside England and Wales(and any replacement thereof) and for all its other book debts, present and future, the proceeds of the same and all other moneys due and payable to it and the benefit of all rights, securities and guarantees of any nature enjoyed or held by it in relation to the foregoing. - The Issuer hereby gives notice to the Account Bank of the creation of the security created in accordance with the provisions of the Trust Agreement. The Account Bank hereby acknowledges the receipt of such notice.

Notice of Security. Pursuant to clause 3.1 (Grant of Security and Declaration of Trust) of the Deed of Charge and Assignment, as continuing security for the payment or discharge of the Secured Obligations, the Issuer with full title guarantee in favour of the Security Trustee (for its own account and as trustee for the Transaction Creditors), inter alia: - assigned by way of first fixed security the Benefit of all of its present and future rights, title and interests to, in and under the Charged Transaction Documents; - charged by way of first fixed charge the Benefit of the Accumulation Account, the Cash Collateral Account, the Counterparty Downgrade Collateral AccountAccount (once opened), the Distribution Account and each account of the Issuer other than any such accounts situated outside England and Wales(and any replacement thereof) and for all its other book debts, present and future, the proceeds of the same and all other moneys due and payable to it and the benefit of all rights, securities and guarantees of any nature enjoyed or held by it in relation to the foregoing. - The Issuer hereby gives notice to the Account Bank of the creation of the security created in accordance with the provisions of the Trust Agreement. The Account Bank hereby acknowledges the receipt of such notice.