Persons entitled
- Cumberland Building Society
Brief description
As a continuing security for the payment and discharge of the secured liabilities, the borrower with full title guarantee assigns to the lender absolutely, subject to a proviso for reassignment on irrevocable discharge in full of the secured liabilities:. (A) the benefit of each relevant agreement;. (B) the benefit of all other contracts, guarantees, appointments, warranties and other documents to which the borrower is a party, which are in its favour or of which it has the benefit (including, in each case, but without limitation, the right to demand and receive all monies whatsoever payable to or for its benefit under or arising from any of them, all remedies provided for in any of them or available at law or in equity in relation to any of them, the right to compel performance of any of them and all other rights, interests and benefits whatsoever accruing to or for its benefit arising from any of them), to the extent not effectively assigned under clause 3.1(a); and. (C) all authorisations (statutory or otherwise) held or required in connection with the use of any secured assets, and all rights in connection with them,. Provided that nothing in this clause 3.1 shall constitute the lender as a mortgagee in possession.
Contains fixed charge.
Contains negative pledge.