Successor Security definition

Successor Security of any particular Security means every Security issued after, and evidencing all or a portion of the same debt as that evidenced by, such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.7 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.

Successor Security of any particular Security means every Security issued after, and evidencing all or a portion of the same debt as that evidenced by, such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.

Successor Security has the meaning specified in Section 3.15(b)(i)b.

Examples of Successor Security in a sentence

• The Security Agent will continue to serve until the effective date of its resignation or until a Successor Security Agent accepts the appointment, whichever is the earlier, but will not be obligated to take any action hereunder during such period.

• Upon the appointment of the Successor Security Agent, the Security Agent will promptly arrange to hand-over or assign to the Successor all of its interest under the Security Agreements and in or to any Collateral and to transfer any funds or amounts held by it, in its capacity as Security Agent, together with a statement of account duly detailing all receipts and/or disbursements of any funds or proceeds received or made by the Security Agent.

• Successor Security has the meaning given to it under "Reference Obligation" above in Paragraph 1 (General Terms) of this Confirmation.

• The Loan Note Issuer shall thereupon be vested with the power to appoint such person as successor Security Trustee and shall promptly make such appointment as detailed in Clause 13.4 (Successor Security Trustee) by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Security Trustee and one copy to the successor Security Trustee.

• The Parties hereby give their consent for the assignment of all rights and obligations of the Security Trustee to any successor security trustee appointed pursuant to the Security Trust Agreement (the “Successor Security Trustee”), and the Parties, including without limitation the Security Trustee, shall execute any document necessary to assign the rights and obligations of the Security Trustee to the Successor Security Trustee.

More Definitions of Successor Security

Successor Security has the meaning specified in Section 3.15(b)(i)(B).

Successor Security has the meaning specified in Section 9.5.

Successor Security shall have the meaning specified in Section 3.15(b)(i)(B).

Successor Security of any particular Security means every Security issued after, and evidencing all or a portion of the same debt (subject to provisions, if any, in the Predecessor Security regarding payment of Special Interest) as that evidenced by, such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section

Successor Security means, with respect to any particular Security, each Security issued after, and evidencing all or a portion of the same debt as that evidenced by, such particular Security; and, for the purposes hereof, any Security authenticated and delivered pursuant to the terms of the Trust Indenture in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security. As used herein, the term “Regulation S Securities” means the Unrestricted Global Securities and their Successor Securities. Beneficial interests in the Global Securities may not be exchanged for Securities in physical certificated form except in the limited circumstances described below. Each Global Security and beneficial interests in each Global Security will be subject to restrictions on transfer as described under “Notice to Investors”.

Successor Security of any particular Security means every Security issued after, and evidencing all or a portion of the same debt as that evidenced by, such particular Security; and, for the purpose of this definition, any Security authenticated and delivered under Section 3.07 in exchange for or in lieu of a ---- mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.

Successor Security shall have the meaning set forth in Section 6.1(c).