Persons entitled
- Ge Capital Bank Limited as Trustee for the Secured Parties (The "Security Agent")
Brief description
The company: (I) grants, conveys, transfers and demises all that the lands and premises located at molesworth road, cookstown, county tyrone and comprised in folios 27365, 29983, 30516, TY94340, TY94342, TY94344 and TY94345 all county tyrone (the "property") other than the parts thereof the ownership of which is registered or registrable in the land registry pursuant to the provisions of the land registration act (northern ireland) 1970 to hold the same as to so much thereof as is of freehold tenure unto the security agent for the residue of the respective terms of years for which the company from time to time holds the same less the last three days of each such term, subject to the equity of redemption provided that the company hereby declares that it shall henceforth stand possessed of such of the said property as is of leasehold tenure for the last day or respective last days of the term or terms or years for which the same is held by it, and for any further or other interest which it now has or may hereafter acquire or become entitled to in the same or any part thereof by virtue of any act or acts of parliament or otherwise howsoever, in trust for the security agent and to be conveyed assigned or otherwise dealt with whether to the security agent or its nominee or otherwise as the security agent shall direct but subject to the same equity of redemption as may for the time being be subsisting in the said property, and the company further agrees that (subject as aforesaid) the security agent shall be entitled to the custody of all the title deeds of the said property, and the company hereby further authorises the security agent as mortgagee during the continuance of this security to remove it or any other person from being a trustee in respect of the trust hereinbefore declared and to appoint the security agent or any other person or persons to be a trustee or trustees in respect of the said property, and whereupon to make a declaration vesting all and any of its estate and interest in the said property in such new trustee or trustees, and so (but without prejudice to the generality of the foregoing) that any such trustee or trustees, may be any receiver and manager or any other receiver (whether appointed pursuant to the debenture or any statute, by a court or otherwise) of all or any of the assets, rights, title, interests and benefits of the company from time to time subject to the security created or intended to be created by the debenture ("receiver") or receivers of the said property appointed by the security agent under the powers herein contained provided further that the company doth hereby irrevocably appoint the secretary for the time being of the security agent to be its attorney, in its name and on its behalf, and as its act and deed to sign seal and deliver and otherwise perfect every or any deed of conveyance of the leasehold reversion which may be desired by the security agent, in order to vest in the security agent or in any person or persons in trust as agent for the security agent, subject as aforesaid, or in any purchaser of the said property or any part thereof, the said leasehold reversion and any further or other interest which the security agent now has or may hereafter acquire or become entitled to in the said leasehold premises or any part thereof by virtue of any act or acts of parliament or otherwise howsoever; (ii) charges by way of first fixed charge, the property which is registered or in the course of being registered under the land registration act (northern ireland) 1970; and (iii) charges by way of first fixed charge all the company's present and future right, title and interest in and to and the benefit of, to the extent not effectively mortgaged or charged pursuant to (I) and (ii) above, all estates or interests in any freehold, leasehold or other immovable property situated in northern ireland (whether such interests are freehold, leasehold or licences) vested in, or acquired by, it.
Contains floating charge.