The following Banking & Finance precedent provides comprehensive and up to date legal information covering:
This Deed is made on [insert day and month] 20[insert year]
[insert name of Chargor], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (the Chargor); and
[insert name of Lender] of [insert address] (the Lender).
The Lender has agreed to make available a loan facility to the Chargor on the terms and conditions set out in the Facility Agreement (as defined below).
It is a condition precedent to the availability of the loan facility that the Chargor enter into this Deed for the purpose of providing security in favour of the Lender in respect of the Secured Obligations (as defined below).
It is Agreed as follows:
Definitions and interpretation
In this Deed, unless otherwise provided:
Blocked Bank Account
means the bank account designated the ‘Blocked Bank Account’ with account number [insert account number] and sort code [insert sort code] and maintained by the Chargor with the Lender (and any replacement account or subdivision or subaccount of that account);
means all money at any time standing to the credit of the Blocked Bank Account, whether in Sterling or any other currency and whether in addition to or by way of renewal or replacement for any sums previously deposited or otherwise, together with all interest accruing from time to time
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