Floating Charge Assets definition

Floating Charge Assets means the assets, property and undertaking of the Company over which a Secured Creditor has a floating charge as at the Appointment Date under the terms of a Security granted by the Company to the Secured Creditor;

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Floating Charge Assets means those assets which are from time to time the subject of Clause 3.3 (Floating charge).

Floating Charge Assets means the assets of each Chargor from time to time expressed to be charged by this Deed by way of floating charge pursuant to Clause 3.4 (Floating Charge);

Examples of Floating Charge Assets in a sentence

Such crystallisation shall take effect over the Floating Charge Assets or class of Assets specified in the notice.
Such crystallisation shall take effect over such Floating Charge Assets or class or classes of Floating Charge Assets as shall be specified in the notice.
If no Floating Charge Assets are specified, it shall take effect over all Floating Charge Assets of the relevant Chargor.
If the floating charge over the Floating Charge Assets becomes automatically converted into a fixed charge in accordance with this Clause, it shall again become a floating charge over the Floating Charge Assets if the Bank gives a notice in writing to that effect to the Borrower.
The Security Trustee shall, at the request and cost of any Chargor, execute such letters of non-crystallisation as may be reasonably necessary to permit any Permitted Disposal of the Floating Charge Assets.

More Definitions of Floating Charge Assets

Floating Charge Assets has the meaning given to it in Clause 5.1 (Creation of Floating Charge).

Floating Charge Assets any part or parts of the Charged Assets subject to the floating charges contained in Clause 3.3 or Clause 3.4;

Floating Charge Assets means those assets of the Company from time to time subject to a floating charge pursuant to this Guarantee and Debenture;

Floating Charge Assets means any part or parts of the Charged Assets subject to the floating charge contained in Clause 6.5 (Floating Charge);

Floating Charge Assets acquired after Crystallisation: Except as otherwise stated in any notice given under clause 3.4 (Crystallisation of Floating Charge) or unless such notice relates to all Floating Charge Assets, Floating Charge Assets acquired by any Charging Company after crystallisation has occurred under clause 3.4 (Crystallisation of Floating Charge) or 3.5 (Automatic Crystallisation) shall continue subject to the floating charge created by clause 3.1(n) (Charging Clause), so that the crystallisation shall be effective only as to its Floating Charge Assets in existence at the date of crystallisation.

Floating Charge Assets by way of floating charge: (i) all Assets now or in the future owned by such Charging Company except to the extent that such Assets are for the time being effectively charged by any fixed charge contained in the preceding provisions of this clause 3.1 (Charging Clause) or effectively assigned by clause 3.2 (Assignment of Rights), including any Assets comprised within a charge which is reconverted under clause 3.7 (Decrystallisation of Floating Charge); and (ii) without exception all Assets insofar as they are for the time being situated in Scotland; but in each case so that such Charging Company shall not create any mortgage or any fixed or floating charge or other security over any Floating Charge Asset (whether having priority over, or ranking pari passu with or subject to, this floating charge) or take any other step referred to in clause 6.1 (Negative Pledge and other Restrictions) with respect to any Floating Charge Asset and such Charging Company shall not, without the prior written consent of the Security Agent, sell, transfer, part with or dispose of any Floating Charge Asset except by way of sale in the ordinary course of its business.

Floating Charge Assets the assets of such company from time to time expressed to be charged by this Charge by way of floating charge;