LCP Proudreed PLC - Irish Stock Exchange

(d) requirements relating to (i) the exercise by the Borrower Security Trustee of its rights, powers and
discretions, (ii) the making of modifications to, granting consent under or granting of waivers in
respect of any breach or proposed breach of the Transaction Documents, (iii) the giving of any Loan
Enforcement Notice or acceleration of any Obligor Secured Obligation, and (iv) the release from
the Obligor Security will be set out.
Fixed and floating security granted by the Borrower
Pursuant to the Borrower Deeds of Charge, each Borrower shall grant to the Borrower Security Trustee,
as security for the Obligor Secured Obligations, the following security interests over its present and future
assets including, to the extent applicable to such Borrower and such assets:
(i) a first charge by way of legal mortgage over any of the Secured Properties belonging to it;
(ii) a first fixed charge over any Secured Properties belonging to it and not included in (i);
(iii) a first fixed charge over all plant, machinery and other chattels owned by it and situated in or at the
Secured Properties;
(iv) a first fixed charge over its Borrower Accounts;
(v) an assignment by way of security of all its rights to and in all Gross Rental Income (including all its
rights under any guarantee of Gross Rental Income contained in or relating to any Occupational
Leases and any rental deposits made in connection therewith) derived from the Secured Properties
belonging to it;
(vi) an assignment by way of security of all proceeds receivable by the Borrower under the Insurance
Policies and of all related rights in respect of those Insurance Policies;
(vii) an assignment over its rights under the relevant Sale and Purchase Agreement and any agreement
relating to the purchase of any Additional Secured Properties;
(viii) a first fixed charge over all rights, title and interest, present and future, in Intellectual Property used
by it in connection with its Secured Properties;
(ix) a first fixed charge over any Eligible Investments held by it;
(x) a first fixed charge over all of its goodwill;
(xi) a first fixed charge over all of its uncalled share capital;
(xii) a first fixed charge over all its book debts and other monetary claims and all related rights;
(xiii) an assignment by way of security of its rights, title and interest in the Transaction Documents to
which it is a party;
(xiv) an assignment by way of security of its rights, title and interest in the reports prepared at the time
of acquisition of each Secured Property in its Property Portfolio as at the Closing Date to which it
was an addressee; and
(xv) a first floating charge over the whole of its undertaking, assets, property and rights whatsoever and
wheresoever, present and future (save to the extent covered by (i) to (xiv) above).
In addition, each Borrower will covenant and undertake to execute, at the Borrower Security Trustee’s
request, further security by way of legal mortgage over any Secured Property subsequently acquired by
it and such Secured Property will be brought into the relevant Borrower’s Property Portfolio in
accordance with the conditions set out in the applicable Commercial Mortgage Loan Agreement and
upon execution of further security.
Prohibition against assignments
The Borrower Deeds of Charge shall provide that the Borrowers are prohibited from assigning or
purporting to assign to any person other than the Borrower Security Trustee the rights, title, interest or
benefit of any Borrower Account, any Transaction Document to which it is a party, any Occupational
Lease or any rights arising thereunder (including as to Gross Rental Income) or any Insurance Policy.
Trust for Obligor Secured Creditors
The Borrower Security Trustee will hold the benefit of all the security created in its favour and the
covenants to pay on trust for the benefit of itself and the other Obligor Secured Creditors.
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