Examples of Deed of Floating Charge in a sentence
The Trustee is entitled to enforce the security created by the Deed of Floating Charge only if an Event of Default referred to in Condition 11(iii) of the Notes of any Series, or the analogous provision in the terms and conditions of any Series of Alternative Investments, has occurred and the security in respect of all Series of Notes and Alternative Investments then outstanding constituted by the relevant Trust Instrument and/or Additional Security Documents has become enforceable.
The Trustee is entitled to enforce the security created by the Deed of Floating Charge only if an Event of Default referred to in Condition 9(c) of the Notes of any Series, or the analogous provision in the terms and conditions of any Series of Alternative Investments, has occurred and the security in respect of all Series of Notes and Alternative Investments then outstanding constituted by the relevant Constituting Instrument and/or Additional Charging Instrument has become enforceable.
The Trustee shall not be responsible for monitoring or enquiring whether any rights have become exercisable by the Issuer in its capacity as the holder of any Charged Assets or the property of the Issuer secured pursuant to the Deed of Floating Charge (if any) and shall not be liable to any person for any failure by the Issuer to exercise those rights.
As a result, there is no benefit to the Replacement Trustee becoming the beneficiary of the rights granted to Deutsche Trustee Company Limited as Trustee under the Deed of Floating Charge or pursuant to an equivalent instrument.
Therefore, the ability of Deutsche Trustee Company Limited as Trustee under the Deed of Floating Charge, if an administration application were to be made in respect of the Issuer, to appoint an administrative receiver and, by the appointment of such a receiver prior to the grant of such application, would have entitled Deutsche Trustee Company Limited as Trustee to prevent the appointment of the administrator.
As the Issuer is not so registered, it is not possible for any party to appoint an administrative receiver to the Issuer, whether under the Deed of Floating Charge or otherwise.
The Trustee is entitled to enforce the security created by the Deed of Floating Charge only if an Event of Default referred to in General Condition 10.3 of the Securities of any Series has occurred and the security in respect of all Series of Securities then outstanding constituted by the relevant Trust Instrument and/or Additional Security Documents has become enforceable.
Deed of Floating Charge The obligations of the Issuer in relation to all Series of Securities will also be secured pursuant to the Deed of Floating Charge over the whole of its undertaking and assets to the extent that such undertaking and assets are not subject to any other security created by the Issuer in relation to any Series.
This is because at the time the Deed of Floating Charge was entered into, it was arguable that the floating charge granted to Deutsche Trustee Company Limited as Trustee by virtue of the Deed of Floating Charge gave Deutsche Trustee Company Limited as Trustee the ability to appoint an administrative receiver over the assets of the Issuer pursuant to the Deed of Floating Charge.
As a result, the obligations of the Issuer in relation to all Series of Instruments in relation to which the Replacement Trustee is the Trustee pursuant to, in accordance with and on the terms of, the Series Instrument constituting such Series will not be secured pursuant to the Deed of Floating Charge.