CRYSTALLISATION OF OFCA FLOATING SECURITY. 9.1 Crystallisation: By Notice 9.1.1 a Loan Event of Default has occurred and is continuing; or 9.1.2 the Bond Trustee acting reasonably considers that the Charged Property or any part thereof is in danger of being seized or sold under any form of distress, diligence or execution levied; or 9.1.3 the Borrower Security Trustee acting reasonably considers it desirable in order to protect the priority of the Borrower Security, and, to effect the conversion thereof, the relevant Obligor shall forthwith on demand execute and deliver to the Issuer a first fixed charge or security over any such assets in such form as is satisfactory to the Bond Trustee.
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Sources: Obligor Floating Charge Agreement, Obligor Floating Charge Agreement