Debenture: single company chargor—bilateral—all monies
Debenture: single company chargor—bilateral—all monies

The following Banking & Finance precedent provides comprehensive and up to date legal information covering:

  • Debenture: single company chargor—bilateral—all monies
  • Recitals:
  • 1 Definitions and interpretation
  • 2 Covenant to pay
  • 3 Fixed and floating security
  • 4 Crystallisation of floating charge
  • 5 Representations and warranties
  • 6 Undertakings
  • 7 Shares and Investments: voting rights and dividends
  • 8 Perfection of security
  • More...

This Deed is made on [insert date] 20[insert year]

Parties

  1. 1

    [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

  1. 2

    [insert name of Lender] of [insert address] (the Lender).

Recitals:

    1. (A)

      The Lender provides facilities to the Chargor under various financing arrangements.

    1. (B)

      It is a condition of the Lender making the facilities available to the Chargor that the Chargor enter into this Deed in favour of the Lender.

IT IS AGREED as follows:

    1. 1

      Definitions and interpretation

      1. 1.1

        Definitions

        In this Deed, unless otherwise provided:

        [Blocked Bank Account

        1. 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 OR [insert name of third party bank]] (and any replacement account or subdivision or subaccount of that account);]

        Business Day

        1. means a day, other than a Saturday, Sunday or public holiday, on which banks are open for business in London;

        Financial Indebtedness

        1. means indebtedness arising from:

          1. (a)

            borrowing (including overdrafts) and amounts raised that have the commercial effect of borrowing;

          2. (b)

            any issued bonds, notes, debentures or similar instruments;

          3. (c)

            any liabilities under finance or capital leases;

          4. (d)

            any sold or discounted receivables;

          5. (e)

            [the marked to market value of liabilities under any hedging arrangements (or if any amount is actually

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