Security & Collateral · glossary
The money customers owe the Company on unpaid invoices, and what is paid on them: about £2,600,000 at any time. Clause 3.2(d) calls the charge over them fixed, and clause 8.3 sends every payment into the Collection Account. Whether the charge is really fixed depends on who controls that account. Definition: Book Debts · Debenture §3.2 · Debenture §8.3 · Chapter 2 · Chapter 3 · Chapter 5
Explained in Chapter 2, What the Company Owns, and Who Already Has a Claim, of Security & Collateral.
Book debts are the sums customers owe the Company on unpaid invoices. Most of the figures in the asset table in the first chapter are the Company's own. Only two come from outside it. A firm of surveyors valued the factory at £4,200,000, and the six new machines cost £3,700,000.Read Chapter 2, What the Company Owns, and Who Already Has a Claim →
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all book debts and other debts and monetary claims owed to the Company now or in the future, whether or not yet due, and the proceeds of them;Read the definition in the document →
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