Security & Collateral · glossary
How long the security lasts: until everything owed is paid and no facility can still be drawn. The second condition matters because a revolving facility repaid one day can be drawn again the next. At the end of the loan both conditions are met together. Definition: Security Period · Chapter 5 · Chapter 10
Explained in Chapter 5, Shares, Receivables, Accounts and Insurances, of Security & Collateral.
The Bank holds them for the Security Period, which lasts until the debt is paid in full and nothing more can be drawn. Meanwhile the Company stays on the register as the owner. If the Bank has to sell, it fills in the buyer's name and the date and hands both over. The Company cannot block a sale it has already signed for.Read Chapter 5, Shares, Receivables, Accounts and Insurances →
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Security & Collateral and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
the period beginning on the date of this Debenture and ending on the day on which all of the Secured Liabilities have been paid in full and no facility under the Facility Agreement remains available to be drawn;Read the definition in the document →
Related terms
Where this term lives
This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Security & Collateral → · All terms A–Z →