Partial Crystallization. Without prejudice to the effect of Clauses 7.1 and 7.4, if the Chargor mortgages, charges, pledges or otherwise encumbers (whether by way of fixed or floating security or otherwise howsoever) any of the Charged Assets or attempts so to do without the prior consent in writing of the Security Trustee, or is otherwise in breach of any of the provisions in Clause 6.1(a) or Clause 6.1(b) hereof, or if any person levies or attempts to levy any distress, execution, sequestration or other process against any of the Charged Assets, the floating charge hereby created over the Charged Assets shall automatically, without notice or any other formality or process whatsoever, crystallize and operate as a fixed charge instantly on the occurrence of such event.
Appears in 4 contracts
Samples: Subscription Agreement, Subscription Agreement, Subscription Agreement
