SEA GENERATION (WALES) LTD

3.1 each company, as continuing security for the payment and discharge of the secured obligations, charges in favour of the lender, with full title guarantee all of its right, title and interest in and to the following assets which are from time to time owned by it or in which it has an interest by way of a fixed charge:. (A) all equipment;. (B) all the intellectual property;. (C) all its rights in the insurance policy, including all claims, the proceeds of all claims and all returns of premium in connection with the insurance policy, to the extent not effectively assigned under clause 3.2; and. (D) all the shares owned by it. And, in each case, all related rights.. 3.2 as a continuing security for the payment and discharge of the secured obligations, aouk with full title guarantee assigns to the lender absolutely, subject to a proviso for reassignment on irrevocable discharge in full of the secured obligations all its rights which are from time to time owned by it in the insurance policy, including all claims, the proceeds of all claims and all returns of premium in connection with the insurance policy and all related rights.. 3.4 as further continuing security for the payment and discharge of the secured obligations, each company with full title guarantee or, in relation to any assets situated in scotland or governed by scots law (“scottish assets”), absolute warrandice, charges in favour of the lender by way of floating charge:. (A) all the present and future undertaking, property, assets and rights of that company at any time not charged or assigned or not effectively charged or assigned, under clause 3.1 (fixed charges) and clause 3.2 (assignment); and. (B) all of that company’s scottish assets (if any), whether or not charged or assigned or effectively charged or assigned under clause 3.1 (fixed charges) and clause 3.2 (assignment).. Definitions:. Please refer to the debenture for a full list of definitions.