Persons entitled
- Bear, Stearns International Limited (The Security Trustee)
Amount secured
All monies due or to become due from any obligor to a finance party on any account whatsoever under the terms of the aforementioned instrument creating or evidencing the charge
Short particulars
If the company receives a payment or distribution in respect of any of the subordinated debt from an obligor or any other source other than as allowed under the subordination agreement or the company receives the proceeds of any enforcement of any security interest or guarantee or other assurance against financial loss for any subordinated debt the company must hold the amount received by it on trust for the secured parties and immediately pay it to the security trustee for application against the senior debt.