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floating charge |
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floating charge n (Economics) Chiefly Brit an unsecured charge on the assets of an enterprise that allows such assets to be used commercially until the enterprise ceases to operate or the creditor intervenes to demand collateral How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The facility bears interest at 8% per annum, and is secured by a floating charge on all the assets of Imperial plus guarantees by it subsidiaries, Mount Polley Mining Corporation and Mount Polley Holding Company Limited, and floating charges on all their assets. Amendments in the Rights of Priority Act and new legislation on floating charges in Sweden The issuer will grant fixed and floating charges over most of its property, undertakings and assets for the benefit of the note-holders through a deed of sub-charge. |
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