Persons entitled
- Caisse Nationale De Credit Agricole S.A.
Amount secured
All monies due or to become due from seawillow limited under the terms of any of the security documents (as defined) up to the bank maximum of £12,500,000 to the chargee.
Short particulars
The company as subordinated creditor agrees and declares it will hold anysums received in respect of any realisation of the property in respect of the subordinated liabilities (as defined) of seawillow prior to the bank liabilities up to the bank maximum being paid and satisfied in full, upon trust for the bank and forthwith pay the same to the bank. (Please see doc M395 for full details).