The following Banking & Finance precedent provides comprehensive and up to date legal information covering:
This Deed is made on [insert date] 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 OR [insert name of third party bank]] (and any replacement account or subdivision or subaccount of that account);]
means the facility agreement entered into on [the date of this Deed OR [insert date]] between the Chargor as borrower and the Lender as lender;
Floating Charge Assets
means the assets for the time being comprised within the floating charge created by Clause 3.4 (Floating charge);
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