Persons entitled
- Aib Group (UK) P.L.C. Whose Registered Office is at 92 Ann Street, Belfast BT1 3HH
Brief description
The assignors as legal and beneficial owners of the property hereby assign to the bank free so far as competent under any lease of the property of all liens, charges and other encumbrances, rights of set-off or counter-claim and others, all right, title and benefit of the assignors to or in the rental income of the property held pursuant or supplemental to the current leases or other occupancy agreements of the property or any part thereof, all as the current leases are detailed in part 2 of the schedule annexed and executed as relative hereto ("the schedule") or any leases or other occupancy agreements to be granted in respect of the property or any part thereof (hereinafter referred to as “the leases”) to hold the same unto the bank absolutely in such account (“the rental income account”) as the bank shall nominate.. The bank will advance certain sums (hereinafter referred to as “the advance” which expression shall also include any further sums to be advanced by the bank after the date hereof) to the assignors all in terms of facility agreement between the bank and the assignors constituted by letter of offer by the bank dated 9TH march 2016 and accepted by the assignors (hereinafter together referred to as “the agreement”) and which expression shall mean the facility agreement as extended, amended, varied, supplemented, novated, restated, replaced or renewed from time to time and the assignors have executed a first ranking legal charge in favour of the bank dated of even date herewith and to be registered in the land registry over property known as meadlowlane shopping centre, moneymore road, magherafelt, county londonderry, all as more particularly described in the legal mortgage (hereinafter referred to as “the property”);.