Floating Charge Property definition

Floating Charge Property has the meaning given to such term in Clause 5.1;

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Floating Charge Property means all Mortgaged Property that is not Fixed Charge Property or Mortgaged Agreements.

Floating Charge Property means the assets of the Company described in Clauses 3.1(k) to 3.1(m) inclusive;

Examples of Floating Charge Property in a sentence

If no assets or class of assets are specified in the Notice, the Notice shall take effect over all the Floating Charge Property.
If the Charge has become a fixed charge under clause 1.6 in relation to all or part of a Chargor’s Floating Charge Property, the Chargees may restore the licence under clause 1.5(a) by notice to the relevant Chargor, so that the Charge will again operate as a floating charge and not as a fixed charge in relation to that Floating Charge Property.
No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Debtor and the Secured Parties holding a Majority in Interest or more of the principal amount of Notes then outstanding, or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought.
A floating charge will automatically crystallise and convert into a fixed charge over the relevant Floating Charge Property if a liquidator, administrative receiver, Receiver, administrator or other similar officer is appointed in respect of MTIX or all or a material part of its assets.

More Definitions of Floating Charge Property

Floating Charge Property means the assets of the Company described in clause 4.5 (Floating Charge);

Floating Charge Property means, in respect of the Chargor, the property of the Chargor charged by way of floating charge pursuant to clause 3.3 of this Charge; ‘Insurances’ means, in respect of the Chargor, all present and future contracts and policies of insurance and re-insurance of any kind taken out or, as the context requires, to be taken out and maintained by or on behalf of the Chargor in connection with the Secured Assets and all claims, proceeds and returns of premiums of each such contract and policy;

Floating Charge Property has the meaning given to that term in Clause 3.1 (Creation of Floating Charge).

Floating Charge Property means the assets, rights, property and undertaking subject to the Floating Charge.