Common use of Creation of Floating Charge Clause in Contracts

Creation of Floating Charge. The Grantor, with full title guarantee and as further continuing security for the payment and discharge of the Secured Obligations, charges the Collateral in favor of the Secured Party by way of first floating charge.

Appears in 2 contracts

Sources: Loan Agreement (Endo Pharmaceuticals Holdings Inc), Loan Agreement (Vernalis PLC)