CONVERSION BY NOTICE Clause Samples

CONVERSION BY NOTICE. The Security Agent may convert the floating charge over all or any of the Security Assets II into a fixed charge by notice to the Assignor specifying the relevant Security Assets II: (a) if it considers it desirable to do so in order to protect or preserve the Security Interests II over those Security Assets II and/or the priority of those Security Interests II; and/or (b) while an Event of Default is continuing.

CONVERSION BY NOTICE. Congress may by notice to any Chargor convert the floating charge created by this Deed into a fixed charge in relation to all or any of such Chargor’s assets specified in the notice if: (a) Congress has reasonable grounds for considering those assets to be in jeopardy, by legal process or otherwise; or (b) an Event of Default has occurred and is continuing; or (c) Congress becomes aware or has reason to believe that steps have been taken which would, in the reasonable opinion of Congress, be likely to lead to the presentation of a petition to appoint an administrator in relation to such Chargor (or that such a petition has been presented or such an administrator has been appointed) or to wind up such Chargor (or that such a petition has been presented).

CONVERSION BY NOTICE. ‌ The Security Agent may convert the floating charge created by any Chargor over all or any of its assets into a fixed charge by notice in writing to that Chargor specifying the relevant Security Assets (either generally or, in relation to paragraphs (b) and (c) below, in relation to the relevant Security Assets): (a) if a Declared Default has occurred; (b) if the Security Agent reasonably considers those Security Assets to be in danger of being seized or sold under any form of distress, attachment, extension or other legal process, or to be otherwise in jeopardy;‌ (c) if the Security Agent reasonably considers it is necessary in order to protect the priority, value or enforceability of the Security created or intended to be created by this Debenture; or‌ (d) any Chargor requests the Security Agent to exercise any of its powers under this Debenture.

CONVERSION BY NOTICE. The Collateral Agent may, by written notice to a Chargor, convert the floating charge created under this Deed into a fixed charge with immediate effect as regards all or any of the Security Assets subject to the floating charge and specified in the notice if: (a) an Event of Default has occurred and is continuing; or (b) it considers (acting reasonably) any Security Assets to be in danger of being seized or sold under any form of distress, attachment, execution or other legal process.

CONVERSION BY NOTICE. The Common Security Agent may by notice in writing to a Chargor convert the floating charge created by that Chargor pursuant to paragraph (a) of Clause 4.10 (Floating charge) with immediate effect into one or more fixed charges over all or any of that C▇▇▇▇▇▇’s assets, rights and property specified in that notice if: (a) an Event of Default has occurred; (b) the Common Security Agent considers, acting reasonably, that any Security Assets may be in danger of being seized or sold pursuant to any form of legal process or otherwise is in jeopardy; or (c) the Common Security Agent considers that it is necessary or desirable to protect the priority, value and enforceability of the security.

CONVERSION BY NOTICE. The Collateral Agent may by notice in writing to a Chargor convert the floating charge created by that Chargor pursuant to paragraph (a) of Clause 4.10 (Floating charge) with immediate effect into one or more fixed charges over all or any of that C▇▇▇▇▇▇’s assets, rights and property specified in that notice if: (a) an Event of Default has occurred; (b) the Collateral Agent considers, acting reasonably, that any Security Assets may be in danger of being seized or sold pursuant to any form of legal process or otherwise is in jeopardy; or (c) the Collateral Agent considers that it is necessary or desirable to protect the priority, value and enforceability of the security.

CONVERSION BY NOTICE. Burdale may by notice to any Chargor convert the floating charge created by this Deed into a fixed charge in relation to all or any of such Chargor's assets specified in the notice if: (a) an Event of Default has occurred and is continuing; or (b) Burdale becomes aware that steps have been taken to wind up such Chargor (or that such a petition has been presented).

CONVERSION BY NOTICE. The Collateral Agent may convert the floating Charge into a fixed Charge (either generally or specifically) by notice to the Company specifying the relevant Charged Assets: 3.5.1 if it considers (on reasonable grounds) it desirable to do so in order to protect or preserve the Charges over those Charged Assets and/or the priority of those Charges and/or 3.5.2 at any time after an Enforcement Event occurs.

CONVERSION BY NOTICE. The Security Trustee may convert the floating Charge over all or any of the Charged Property into a fixed Charge by notice to the Guarantor or, as applicable, the Issuer specifying the relevant Charged Property (either generally or specifically): (a) if it considers it desirable to do so in order to protect or preserve the Charges over that relevant Charged Property and/or the priority of those Charges; and/or (b) during an Enforcement Time.