Persons entitled
- The Governor and Company of the Bank of Ireland
Brief description
The borrower as beneficial owner and as a continuing security for the payment and discharge of the secured liabilities charges in favour of the bank as security trustee for the secured parties by way of a first fixed charge the deposit and all the entitlements to interest the right to repayment and other rights and benefits accruing to or arising in connection with the deposit to the intent that such charge shall operate as a release of the deposit to the bank as security trust for the secured parties until the secured liabilities have been unconditionally and irrevocably paid and discharged in full.. Definitions. “Secured liabilities” means all monies obligations and liabilities whatsoever whether for principle interest or otherwise in whatever currency which may now or at any time in the future be due owing or incurred by the borrower to the secured partied whether actual or contingent and whether alone severally of jointly as principal guarantor surety or otherwise and in whatever name or style and whether on any current or other account or in any other manner whatsoever;. “Deposit” means the sum of £300,000 deposited in the security account and includes any other sum or sums which are deposited in the security account in addition to or by way or renewal of or replacement for such sum.