English fixed and floating charges
are created, perfected, prioritized, and enforced in essentially the same manner as American security interests.
The securities issued by Rolling Stock are secured by fixed and floating charges
over the Rolling Stocks assets which primarily consist of a secured loan to Porterbrook which is secured by a fixed and floating charge
over the leases and underlying rolling stock.
In a whole business securitization, simultaneously with the SPV making the loan, the corporate borrower grants the SPV fixed and floating charges
on all its corporate assets.
Tandis que la France et la Grande-Bretagne adaptent tant bien que mal leurs institutions traditionnelles (gage, mortgage, pledge, fixed et floating charges
) aux necessites du commerce moderne, les provinces canadiennes ont refondu les leurs en une institution synthetique et simplifiee (security interest en vertu des Personal Property Security Acts, hypotheque au Quebec) sur le modele de l'article 9 du Uniform Commercial Code americain.
After them comes the bank, with so-called floating charges
such as overdrafts.
The unique right of a company to create floating charges
is also discussed.
The notes benefit from a strong security package with first ranking fixed and qualifying floating charges
over the issuer's rights, all the assets and undertakings of the issuer.
The bill governing administration deals with issues such as when floating charges
on loans are transformed into fixed charges.
In theory, floating charges
crystallize upon the commencement of an insolvency proceeding and so become fixed charges.
The numbers of administrations will grow, as in time there will be no floating charges
which allow lenders to appoint an administrative receiver.
insolvency law, which allows holders of floating charges
on substantially the entire property of a borrower to appoint an administrative receiver, who effectively will be able to restrain the jurisdiction of the bankruptcy court over such assets.
They will rank pari passu with the existing GBP210 million floating rate notes due in 2022, and with the GBP176 million revolving credit facility extended to 2022 borrowed by Premier Foods Investments Limited and will share the same security package, which consists of fixed charges over certain real estate and intellectual property rights, floating charges
over all the assets of each guarantor, and a share pledge over capital stock of the issuer and each guarantor.