Security & Collateral · glossary
The lender giving up its security once everything is paid and nothing more can be drawn. Under clause 14.1 the Bank must act, at the Company's request and cost, in four places: Companies House, HM Land Registry, the insurer and the deeds. A payment later undone revives the security. Debenture §14.1 · Debenture §14.2 · Chapter 10
Explained in Chapter 10, Release, Priority and the File You Keep, of Security & Collateral.
On 30 April 2031 the Company makes its last payment to the Bank, and both facilities end. The Company now wants its assets back free of any claim, and giving them back is a release. A release does not happen by itself, because the Bank must act, at the Company's request and cost. The security sits in four places, so the release takes four steps.Read Chapter 10, Release, Priority and the File You Keep →
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