triple cocktail

triple cocktail
Form of security document used by lenders when taking security over a cash deposit held by them, containing:
• A charge (in favour of the lender) over the depositor's claims for payment of the cash deposit;
• A contractual right to set-off the cash deposit against the liabilities in respect of which the security is being taken; and

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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