Security & Collateral · glossary
A bank account the customer may draw on only with the bank's consent, given withdrawal by withdrawal. Under the waiver, the Collection Account became one from 16 March 2028. The Bank then treated its charge over the book debts as fixed, though whether practice alone can do that is unsettled. Debenture §8.3 · Chapter 8
Explained in Chapter 8, The Breach, the Waiver and the Blocked Account, of Security & Collateral.
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