Fixed Security Clause Samples
The Fixed Security clause establishes a legal interest or charge over specific assets of a borrower in favor of a lender or creditor. This type of security is attached to identifiable assets, such as property, equipment, or inventory, and typically prevents the borrower from selling or disposing of these assets without the lender's consent. By clearly designating certain assets as collateral, the clause ensures that the lender has a priority claim over them in the event of default, thereby reducing the lender's risk and providing assurance of repayment.
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Fixed Security. (a) Each Member, with full title guarantee (subject only to Permitted Security), as security for the payment or discharge of all Secured Sums, charges by way of fixed charge in favour of the Security Agent (as trustee for the Beneficiaries):
(i) all of its LLP Interests from time to time; and
(ii) all Derivative Rights relating to each such LLP Interests,
(b) Each Chargor, with full title guarantee, as security for the payment or discharge of all Secured Sums, charges in favour of the Security Agent (as trustee for the Beneficiaries):
(i) by way of legal mortgage, all Land (other than Floating Charge Property) in England and Wales now vested in it and registered at the Land Registry or which will be subject to first registration at the Land Registry upon the execution and delivery of this Debenture, in each case as described in Schedule 2 (Registered Land to be Mortgaged);
(ii) by way of fixed charge:
(1) with the exception of any Restricted Land and any Floating Charge Property, all other Land which is now, or in the future becomes, its property;
(2) all Land (other than, for the avoidance of doubt, any Floating Charge Property) which has ceased to fall within the definition of Restricted Land by virtue of receipt of the relevant landlord's consent to charge that Land, but only with effect from the date on which that consent is obtained;
(3) all other interests and rights in or relating to Land or in the proceeds of sale of Land now or in the future belonging to it (other than in relation to any Floating Charge Property or Restricted Land);
(4) all plant and machinery now or in the future attached to any Land which, or an interest in which, is charged by it under the preceding provisions of this Clause (b);
(5) all rental and other income and all debts and claims now or in the future due or owing to it under or in connection with any lease, agreement or licence relating to Land;
(6) all Specified Investments which are on the date of this Debenture its property, including all proceeds of sale derived from them;
(7) all Specified Investments in which that Chargor may in the future acquire any interest (legal or equitable), including all proceeds of sale derived from them;
(8) all Derivative Rights of a capital nature now or in the future accruing or offered in respect of its Specified Investments;
(9) all Derivative Rights of an income nature now or in the future accruing or offered at any time in respect of its Specified Investments;
(10) all insurance or ...
Fixed Security. The Chargor, with full title guarantee, as security for the payment or discharge of all Secured Obligations, charges to the Chargee the following:
(a) by way of legal mortgage, all Land in England and Wales now vested in it and registered at the Land Registry or which will be subject to first registration at the Land Registry upon the execution and delivery of this Debenture, including the Land (if any) described under its name in Schedule 1 (Registered Land to be Mortgaged);
(b) by way of legal mortgage, all other Land in England and Wales now vested in it and not registered at the Land Registry;
(c) by way of first fixed charge:
(i) all other Land which is now, or in the future becomes, its property;
(ii) all interests and rights in or relating to Land or the proceeds of sale of Land now or in the future belonging to it;
(iii) all plant and machinery now or in the future attached to any Land which, or an interest in which, is charged by it under the preceding provisions of this clause 4.2;
(iv) all income of any kind whatsoever and all debts and claims now or in the future due or owing to it under or in connection with any lease, agreement or licence relating to Land;
(v) all Specified Investments which are now, or in the future become, its property;
(vi) all Derivative Rights now or in the future accruing in respect of its Specified Investments;
(vii) all Investments (other than Specified Investments) which are now, or in the future become, its property, and all Derivative Rights now or in the future accruing in respect of those Investments;
(viii) where Investments are held in a Relevant System, all its rights against the operator of the Relevant System or any participant in respect of such Investments;
(ix) all insurance or assurance contracts or policies now or in the future held by or otherwise benefiting it which relate to Fixed Security Assets or which are now or in the future deposited by it with the Chargee, together with all its rights and interests in such contracts and policies (including the benefit of all claims arising and all money payable under them) apart from any claims which are otherwise subject to a fixed charge or assignment (at law or in equity) in this Debenture;
(x) all its goodwill and uncalled capital for the time being;
(xi) all Specified Intellectual Property belonging to it;
(xii) all other Intellectual Property presently belonging to it, including any Intellectual Property to which it is not absolutely entitled or to which...
Fixed Security. The Chargor charges all of its title and interest from time to time in the following assets, and, in each case, all Related Rights, by way of a first fixed charge:
(a) the Subsidiary Shares;
(b) the Accounts;
(c) the Intellectual Property;
(d) to the extent not effectively assigned by Clause 3.3 (Security assignments), the Intra-Group Loans.
Fixed Security. As a continuing security for the payment and discharge of the Secured Liabilities, the Company with full title guarantee charges and agrees to charge to each of the Secured Parties separately, by way of first fixed charge all the Company's right, title and interest from time to time in and to:
(a) all Properties acquired by the Company in the future;
(b) all present and future interests of the Company not effectively mortgaged or charged under the preceding provisions of this Clause 3 in, or over, freehold or leasehold property;
(c) all present and future rights, licences, guarantees, rents, deposits, contracts, covenants and warranties relating to the Properties;
(d) all licences, consents and Authorisations (statutory or otherwise) held or required in connection with the Company's business or the use of any Charged Assets, and all rights in connection with them;
(e) all present and future goodwill and rights in relation to uncalled capital for the time being of the Company;
(f) all the Equipment;
(g) all the Intellectual Property;
(h) all the Book Debts;
(i) all the Investments; and
Fixed Security. [ *** Incorporate in the execution copy of the deed of accession the final text from Clause 3.2 of the Principal Deed with consequential changes. Note: where the New Chargor has real property, intercompany debts or IP it will be scheduled and a definition included of Specified Intellectual Property and Intra-Group Loans. ***]
Fixed Security. The Chargor, as beneficial owner and as security for the payment of all the Secured Liabilities, charges in favour of the Agent:-
(a) by way of a first equitable mortgage all Shares held by it and/or any nominee on its behalf and all Related Rights accruing to the Shares; and
(b) by way of first fixed charge:- (i) (to the extent not effectively mortgaged under paragraph (a) above) its interest in all the Shares and their Related Rights; (ii) to the fullest extent permitted by law, all moneys standing to the credit of any account (including the Security Accounts) with any person and the debts represented by them; (iii) all of the Chargor's book and other debts, the proceeds of the same and all other moneys due and owing to the Chargor and the benefit of all rights, securities and guarantees of any nature enjoyed or held by it in relation to any of the foregoing; and (iv) to the extent that they are able to be the subject of any Security Interest, the benefit of all licences, consents and authorisations (statutory or otherwise) held in connection with its business or the use of any Security Asset specified in any other sub-paragraph in this Clause and the right to recover and receive all compensation which may be payable to it in respect of them. The Agent may convert the equitable mortgage created in paragraph (a) above into a legal mortgage if a Default is outstanding. The mortgages and charges created by this Clause 2 are made with full title guarantee.
Fixed Security. (a) The Chargor, as security for the payment of all the Secured Liabilities, charges in favour of the Security Agent:- by way of first fixed charge:-
(i) its interest in all the Shares and their Related Rights;
(ii) to the fullest extent permitted by law, all moneys standing to the credit of the Security Accounts;
(iii) all of the Chargor's book and other debts (including all Inter-Company Loans), the proceeds of the same and all other moneys due and owing to the Chargor; and
(iv) to the extent it is not assigned as expressed under paragraph (b) below the benefit of any guarantee, letter of credit or other credit enhancement granted to the Company in respect of an Inter-Company Loan in accordance with Clause 11.2 (Debt Service Reserve Account) of the Credit Agreement (in each case, "CREDIT ENHANCEMENT").
(b) The Chargor, as security for the payment of all the Secured Liabilities, assigns to the Security Agent by way of security all of the Inter-Company Loans and the benefit of any Credit Enhancement or the benefit of any guarantee from the Parent of the Inter-Company Loans.
(c) The mortgages and charges and assignments created by this Clause 2 are made with full title guarantee.
Fixed Security. The Chargor, as beneficial owner, with full title guarantee, as security for the payment or discharge of all Secured Obligations, charges to the Security Trustee:
Fixed Security. Each Chargor charges the Charged Assets legally and/or beneficially owned or held by it to the Security Trustee for the benefit of the Secured Parties by way of first fixed charge as continuing security for the payment and discharge of the Secured Obligations.
Fixed Security. The Chargor, as security for the payment of all Secured Obligations (whether now existing or hereafter incurred):