Scope of Security Interest. (a) The Security Interest with respect to the trade-marks constitutes a security interest in, and a charge, hypothecation and pledge of, such Collateral in favor of the Agent, but does not constitute an assignment or mortgage of such Collateral to the Agent or any Vendors. Until the Security Interest becomes enforceable, the grant of the Security Interest in the Intellectual Property will not affect in any way the Corporation’s rights to commercially exploit it or defend or enforce the Corporation’s rights in it or with respect to it.
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with any agreement, licence, permit or quota of the Obligor (each, a "Restricted Asset") is prohibited by the terms thereof, the Security Interest created hereunder will constitute a trust created in favour of the Collateral Agent and the Secured Creditors pursuant to which the Obligor shall hold as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent on the following basis:
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with, or the grant of a security interest in any agreement, licence, permit or quota of the Obligor would result in the termination of such agreement, licence, permit or quota (each, a “Restricted Asset”), the Security Interest with respect to each Restricted Asset will constitute a trust created in favour of the Security Agent, for the benefit of the Finance Parties, pursuant to which the Obligor holds as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Security Agent, for the benefit of the Finance Parties, on the following basis:
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with, or the grant of a security interest in any agreement, licence, lease, permit or quota of any Obligor would constitute a default under or a breach of or would result in the termination of such agreement, licence, lease, permit or quota (each, a “Restricted Asset”), the Security Interest with respect to each Restricted Asset will constitute a trust created in favour of the Collateral Agent, for the benefit of the Secured Parties, pursuant to which the applicable Obligor holds as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent, for the benefit of the Secured Parties, on the following basis:
Scope of Security Interest. (1) To the extent that the creation of the Security Interest would constitute a breach or permit the acceleration or termination of any agreement, right, licence or permit of the Obligor (each, a "RESTRICTED ASSET"), the Security Interest shall not attach to the Restricted Asset but the Obligor shall hold its interest in the Restricted Asset in trust for the Agent and the Lenders, and shall assign such Restricted Asset to the Agent for the benefit of the Agent and the Lenders or as the Agent may direct immediately upon obtaining the consent of the other party.
Scope of Security Interest. (a) The Collateral does not include and the Security Interest will not extend to consumer goods.
Scope of Security Interest. (1) Notwithstanding anything to the contrary contained in Section 1.02, the Security Interest created hereunder shall not extend to, and the term “Collateral” shall not include, the following assets (collectively, the Excluded Assets and each, an Excluded Asset):
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with, or the grant of a security interest in any agreement, licence, permit or quota of any Obligor would result in the termination of such agreement, licence, permit or quota and such termination is otherwise enforceable under applicable law (each, a “Restricted Asset”), the Security Interest with respect to each Restricted Asset will constitute a trust created in favour of the Collateral Agent, for the benefit of the Secured Creditors, pursuant to which such Obligor holds as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent, for the benefit of the Secured Creditors, on the following basis:
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with, or the grant of a security interest in any agreement, licence, permit or quota of the Grantor, or the grant of any licence as contemplated in Section 2.7, would result in the termination of such agreement, licence, permit or quota (each, a “Restricted Asset”), the Grantor shall hold as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Canadian Agent, for the benefit of the Secured Parties, and the Security Interest will constitute a trust created in favour of the Canadian Agent, for the benefit of the Secured Parties, on the following basis:
Scope of Security Interest. (1) Notwithstanding Section 2.1, no security interest is or will be granted pursuant hereto in any right, title or interest of the Obligor under or in (each of (a) - (f) below, collectively, the “Excluded Collateral”):
