Persons entitled
- Lloyd's
Amount secured
A sum equal to the undischarged underwriting obligations incurred at any time by any controlled company as an underwriting member of lloyd's and including any obligation to lloyd's and any undischarged obligation arising at any time under (I) the bye laws, regulations, rules, directions or other requirements of lloyd's; (ii) any deed, contract, instrument or other arrangement of any kind approved by lloyd's; but not including obligations arising in respect of any letter of credit, guarantee or other security given to secure the performance of any such underwriting obligation in favour of the person giving such guarantee or other security ("lloyd's obligations"), or if less, the aggregate amount of stockton's share of the company's profits throughout the period during which the agreement is in force
Short particulars
Subject to any charge over and assignment by the company of the future profits of its underwriting business at lloyd's contained in any trust deed or other instrument to which the company is or becomes a party pursuant to the requirements of lloyds relating to the provision of funds at lloyd's the company charges all of its right title interest and expectancy in and to the trust funds held at any time under any premiums trust deed to which it is a party. See the mortgage charge document for full details.