Persons entitled
- Kbc Bank N.V
Amount secured
All present and future indebtedness and liabilities of the company at the date of the subordination deed or thereafter patyable or owing by the company to the subordinated lender under or in connection with any arrangement document or security or recorded in the books and accounts of the compnay and/or the suboardinated lender on inter-company or other loan account or by way of equity liability arising on account of shareholdings in the company and any other liabilities whatsoever of the compnay to the subordinated lender (all terms as defined)
Short particulars
Any payment or distribution shall until paid or delivered to the senior lender be held in trust by the subordinated lender for the benefit of the senior lender. In the event that prior to the payment and discharge in full of the senior indebtedness any payment or distribution or the benefit or proceeds therof is received or recovered by the subordinated lender upon or with respect to the subordinated indebtedness or any part thereof then the subordinated lender will forthwith deliver the same to the senior lender for application against or retention on account of the senior indebtedness.. See the mortgage charge document for full details.