Persons entitled
- Bhf-Bank Ag
Amount secured
The liabilities of the company under clause 2.1 of the guarantee to, following receipt from bhf-bank ag (the agent) of written notice that any cost overrun which 552 kings road limited (the borrower) is not entitled to fund from the proceeds of the facility has occurred (together with a certificate of the project monitor settin out in reasonable detail the amount of such cost overrun), pay to the person to whom such costs should be paid or, at the request of the agent, to the agent such cost overrun immediately as it falls due for payment
Short particulars
Any monies at any time standing to the credit of the interest bearing deposit account maintained by the company with the agent designated "european land collateral account" account number 065748 into which the sum of £10,000,000 shall be paid.