Charging Companies definition
Examples of Charging Companies in a sentence
The Agent (acting on the instructions of the Lenders) may require that any Group Company becomes a Charging Company by giving to BMUK not less than 10 business days’ notice, provided that any Group Company which has acceded to this Agreement as an Additional Borrower shall, unless the Agent otherwise agrees, automatically be required to become a Charging Company without the need for the Agent to serve a notice under this Clause 4 (Additional Charging Companies).
Subject to the confidentiality undertakings set out in the Interim Documents, the Interim Security Agent shall be entitled to disclose such information concerning the Charging Companies and this Debenture as the Interim Security Agent (acting reasonably) considers appropriate to any actual or proposed direct or indirect successor or to any person to whom information may be required to be disclosed by any applicable law.
Each of the Charging Companies covenants with the Collateral Agent on behalf of the Beneficiaries that it will pay or discharge on demand the Secured Obligations as and when they fall due in the manner provided in the relevant Loan Documents and this Composite Debenture.
The Charging Companies shall collect and realise all Receivables in the ordinary and usual course of its business on behalf of the Lender and shall request in writing and shall otherwise take all reasonable steps to ensure that Receivables are paid into such account or accounts as the Lender may direct from time to time (together, the "COLLECTION ACCOUNT") all money which they may receive in respect of the Receivables immediately on receipt.
By its execution of this Accession Deed, the Acceding Company unconditionally and irrevocably undertakes to and agrees with the Security Trustee to observe and be bound by the Debenture and grants and creates the charges, mortgages, assignments and other security which are stated to be granted or created by the Debenture as if it had been an original party to the Debenture as one of the Charging Companies.
Subject to the confidentiality undertakings set out in the Secured Debt Documents, the Security Agent shall be entitled to disclose such information concerning the Charging Companies and this Debenture as the Security Agent (acting reasonably) considers appropriate to any actual or proposed direct or indirect successor or to any person to whom information may be required to be disclosed by any applicable law.
This Supplemental Deed is supplemental to a debenture dated • 200• and made between (1) the Charging Companies and (2) the Security Trustee (the “Debenture”).
The Charging Companies shall, pending such payment, hold all money so received upon trust for the Lender and in accordance with the Lender's instructions from time to time.
Unless the context otherwise requires, all covenants, agreements, representations and warranties on the part of the Charging Companies contained in this Debenture are given by them jointly and separately and shall be construed accordingly.
Unless the Lender otherwise agrees, the Charging Companies shall duly and promptly pay all costs, calls, instalments or other payments which from time to time become due in respect of any Securities.