A farmer1 may, notwithstanding any provision in his contract of tenancy to the contrary2, by instrument in writing3 create in favour of a bank4 an agricultural charge on all or any of his farming stock5 and other agricultural assets6 as security for sums on short term credit advanced to him or paid on his behalf under any guarantee by the bank, and interest, commission, and charges thereon7.
An agricultural charge may be either a fixed charge or a floating charge, or both
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Codicils may be used for making any alteration in a Will such as to alter the executors or make changes in legacies, whether by addition or deletion but that is by no means their only use. As a general rule, substantial changes are best achieved by means of a new Will and codicils are more
Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes to prevent the legal owner from unconscionably denying the beneficial interest of another (known as the institutional constructive trust)•the
This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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