A floating charge definition

A floating charge means an equitable charge over Meaning of
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A floating charge means an equitable charge over the whole or a specified part of the company’s undertakings and
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A floating charge means an equitable charge over the whole or a specified part of the company’ s undertakings and “assets” including cash and uncalled capital of the company both present and future, so that the charge shall not preclude the company from dealing with such assets until-
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Examples of A floating charge in a sentence

  • A floating charge over all the assets of Subco and of each Material Group Entity and any additional Subsidiaries and Associated Partnerships to the extent necessary to meet the 95% test referred to in Positive Covenants (v) below; NB: TCN has confirmed that it will not be necessary for any additional Subsidiaries or Associated Partnerships to accede to the security package in order to meet such 95% test.

  • A floating charge on all the Company's assets, property (current and fixed) and its present and future rights (with the exception of the Additional Shares) and a first-ranking fixed charge on the share capital of the Company, which has not yet been realized and/or which has been exercised and not yet realized, on the Company's goodwill and its rights to a tax exemption and/or relief and/or dispensation under Law, all in accordance with the Debenture a copy of which is attached hereto as Appendix 22.1.2.

  • 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.

  • A floating charge in the first degree over all of the assets and rights of any type whatsoever, which you now have or may shall have in the future, at any time, subject to the existing rights of the OCS and the BIRD Foundation.

  • The Financial Statements have been prepared from and are consistent with the accounting records of the Sellers.

  • To secure the debt of Comsec Ltd., the debtor provided the Bank, among other things, with the following securities: - Charge No. 3 registered with the Registrar of Companies: A floating charge over all the company’s assets, including rights and proceeds derived from the assets; a fixed charge on the share capital and goodwill; a charge on funds and insurance rights.

  • A floating charge which has been converted into a fixed charge pursuant to Clause 3.4 (Automatic Conversion of Floating Charge) may be reconverted to into a floating charge by notice given by the Chargee to the Chargor in relation to the assets specified in such notice.

  • A floating charge will take effect subject to third party rights or interests (including rights of set off) unless the third party concerned had express notice that a term in the Debenture prohibited the type of transaction which the relevant Company entered into with him or that the floating charge had crystallised, and subject also to any execution, distress or attachment completed before crystallisation.

Related to A floating charge

  • Floating Charge means a charge that, as created, was a floating charge;

  • Parking Charge means the charge paid by drivers to leave a vehicle in a parking place;

  • Fixed Charge , in relation to a tenancy, means—

  • Monthly Recurring Charge refers to the sum that the Requesting Licensee shall pay for the service on a monthly basis computed from the beginning of the month as specified in Schedule 15;

  • FIXED CHARGE PER MONTH means the fixed charge per month payable by company which is inclusive of depreciation, parking fee if applicable, all applicable taxes & duties including VAT, insurances, wages and other emoluments of Operator/Driver(s) / Helper(s) /Jugalees and other operation staff/crew excluding GST.