A floating charge definition

A floating charge means an equitable charge over Meaning of
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A floating charge means an equitable charge over the whole or a specified part of the company’ s undertakings and “assets” including cash and uncalled capital of the company both present and future, so that the charge shall not preclude the company from dealing with such assets until-
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A floating charge means an equitable charge over the whole or a specified part of the company’s undertakings and
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Examples of A floating charge in a sentence

  • A floating charge created by this section has priority to all other charges, whether they arose or were created before, or arise or are created after the coming into operation of this Act.

  • A floating charge on all other assets, present future of the Borrower including but not limited to goodwill and general undertaking of the Borrower in favour of the ,Lenders; 6.

  • A floating charge is a charge over a class of assets which are constantly being acquired and disposed of by the company, such as trading stock.

  • Miller Industries shall instruct the Designated Expert to keep confidential all submissions and contact with any Licensee seeking a determination, and shall instruct the Designated Expert not to disclose to Miller Industries or any third party, unless required to do so by law, anyinformation concerning the Licensee’s request for a determination on any proposed design.

  • A floating charge is held over CCD’s receivables in respect of the unfunded pension benefit promises made to executive directors and certain members of senior management affected by the reduced annual allowance to pension schemes introduced in 2011 under the UURBS.

  • A floating charge of all credit funds standing in the segregated account bank, of all rights in respect of each Transaction Document, each Borrower Loan Agreement, each Borrower Deed of Charge and each Financial Collateral Asset.

  • A floating charge only attaches to the assets (or ‘crystallises’) on the occurrence of certain events such as liquidation, and it is this event of crystallisation which ends the company’s ability to dispose of property covered by the charge without the permission of the charge holder.

  • A floating charge is a security arrangement that a company can enter into with a creditor which ‘floats’ above the company’s assets covered by the charge.

  • A floating charge applies to the second of these accounts to give effect to a contingent asset guarantee of £1,500,000 granted to the Trustees of the pension scheme by the Society as sponsoring employer.

  • If, however, for any reason additional testing, above the schedule, is required then the Senior Operator has the authority to change priorities or request additional resources in order to operate the plant effectively.

Related to A floating charge

  • Fixed Charge Coverage Ratio means with respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter reference period. In addition, for purposes of calculating the Fixed Charge Coverage Ratio: