Persons entitled
- United Trust Bank Limited
Brief description
Definitions of all of the terms here are found in the deed attached.. 1. covenant to pay: the company shall on demand pay to the bank or discharge, as the case may be, all the secured liabilities when the secured liabilities become due. 2. by way of continuing security in favour of the bank for the payment and discharge of the secured liabilities, the company with full title guarantee hereby assigns to the bank by way of absolute assignment: 2.1. all the company’s rights, title, interest and benefit in, to or arising under the contracts (contracts means all the agreements short particulars of which are set out in schedule 2 as from time to time modified, amended, varied, supplemented or novated with the full benefit of all negotiable or non-negotiable instruments, guarantees, indemnities, debentures, mortgages, charges, liens and other security in respect of the same) whatsoever present and future whether proprietary, contractual or otherwise (including but not limited to, all claims for damages or other remedies in respect of any breach thereof); 2.2. and all book and other debts, revenues and claims both present and future (including things in action) which may give rise to debt, revenue or claim due or owing or which may become due or owing to the company under or by virtue of the contracts or in connection with the rights of the company evidenced thereby, without limitation, all claims against insurers) and all present and future rights and remedies relating to or for enforcing the contracts in the name of the company or otherwise (including, but not limited to, all reservation of proprietary rights, rights of tracing and all other rights and remedies of whatsoever nature now or hereafter held by the company in respect of all or any of the foregoing) and all money from time to time become due or owning thereunder or in connection therewith but so that the bank shall not in any circumstances incur any liability whatsoever in respect of any of the foregoing. (This assignment is in absolute assignment for the purposes of section 136 of the lpa (legal assignments of things in action) and is not made by way or charge only).
Contains fixed charge.
Contains negative pledge.