| 单词 | floating charge |
| 释义 | floating charge floating charge a security created by a COMPANY by DEBENTURE (in Scotland, a floating charge) over its whole assets and undertaking for the time being. The point of this form of security is that the compa- ny may continue to conduct its business, disposing of some assets and acquiring others without having to obtain the consent of the debenture holders for each disposal. In the event of a default, the charge crystallises and becomes fixed and enforceable over the assets held at that time. |
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