Then why is there a security over the LGES Convertible Notes of...

Then why is there a security over the LGES Convertible Notes of the magnitude it is, being;
"All of Liontown's issued shares in Kathleen Valley Holdings Pty Ltd (KV Holdings) and a featherweight security over all of the assets of Liontown."
If LGES is purportedly such a "friendly off-taker"?
https://announcements.asx.com.au/asxpdf/20240702/pdf/0655lybd50tx26.pdf

or this version of the security
"All of Liontown's issued shares in Kathleen Valley Holding Pty Ltd (KV Holdings) and limited security over all of the assets of Liontown."
https://announcements.asx.com.au/asxpdf/20240702/pdf/0655m2fgxt4g1g.pdf

What happens if FIRB don't approve the above conditions over the securities and/or assets?

re: "IF (not when) the debt cannot be repaid, they will take a share portion at 1,80 AUD share."
~ Are you suggesting that if LTR cannot service the LGES debt, then the friendly offtaker will buy shares at 1,80 AUD per share help them out? otherwise would it be too much to ask if you could explain what you mean?