This excerpt taken from the SYT 20-F filed Mar 16, 2005.
Permitted Security Interest means:
(a)
a Security Interest over assets acquired after the Signing Date or assets of a company which becomes a Subsidiary after the Signing Date provided that:
(i)
such Security Interest was in existence prior to the date of the acquisition of the asset or company concerned and was not created in contemplation of the acquisition;
(ii)
the amount secured by such Security Interest as at the date of acquisition is not thereafter increased and is amortised or redeemed in accordance with scheduled repayments or reductions in effect immediately prior to the
date of acquisition; and
(iii)
such Security Interest is discharged within six months of the acquisition in question unless the Majority Banks agree in writing otherwise;
(b)
a Security Interest created in the ordinary course of business by a member of the Group by means of a retention of title provision contained in a contract for the supply of goods to that member of the Group;
(c)
liens and other Security Interests created or arising in the ordinary course of business (other than in respect of Borrowings) consistent with past practice of the Group;
(d)
any Security Interest arising in the ordinary course of cash management activities by virtue of any right on the part of any bank to apply any part of any credit balance(s) representing any moneys standing to the credit of
any bank account of any member of the Group in the books of such bank in discharge or satisfaction of any part of any debit balance(s) of any bank account of any member of the Group in the books of such bank;
(e)
any Security Interest created over shares in a single purpose company or over the assets of such a company securing Project Finance Borrowings of that company incurred to finance the project undertaken by that
company;
(f)
any other Security Interest to which the Agent, acting on the instructions of the Majority Banks, has given its prior written consent; and
(g)
any Security Interest securing indebtedness the amount of which (when aggregated with the amount of any other indebtedness which has the benefit of a Security Interest not allowed under the preceding paragraphs) does not
exceed U.S.$500,000,000 or its equivalent at any time.
Bet you've never seen portfolio analytics like these.
