Acceptable Security Interest. Prior to the Investment Grade Date, the Administrative Agent and the Lenders shall fail to have an Acceptable Security Interest in the Collateral;
Acceptable Security Interest. The Administrative Agent and the Banks shall fail to have an Acceptable Security Interest in the Collateral;
Acceptable Security Interest. Each of the Eligible Revenue Equipment, the Treadco Shares and the Eligible Receivables shall be subject to an Acceptable Security Interest in favor of the Agent for the benefit of the Banks until the Liens held by the Agent for the benefit of the Banks upon the Collateral have been released pursuant to Section 2.17(f).
Acceptable Security Interest. The Administrative Agent for the benefit of the Secured Parties shall have an Acceptable Security Interest in substantially all of the assets of the Credit Parties pursuant to the Interim Order.
Acceptable Security Interest. The Security Agreement is effective to create in favor of the Bank a valid Lien on all right, title and interest of each Credit Party, as applicable, in the Collateral, as security for the Obligations, prior and superior in right to any other Lien (except for Liens permitted by Section 8.01). All financing statements have been filed that are necessary to perfect any security interest created pursuant to the Security Agreement that can be perfected by the filing of such financing statements and all actions necessary to provide control to the Bank, with respect to any Collateral for which control can be established in favor of the Bank, have been taken, including delivery of such Collateral to the Bank to the extent such Collateral is certificated or for which possession can provide perfection with respect thereto.
Acceptable Security Interest. Cause an Acceptable Security Interest to exist in all Collateral until the Collateral Release Date.
Acceptable Security Interest. Cause an Acceptable Security Interest to exist at all times in all Collateral, except as to the Excluded Collateral and as otherwise contemplated by Section 5.1(g). Notwithstanding the foregoing, if the Borrower and its Subsidiaries, as applicable, have not entered into and duly executed a purchase and sale agreement (the "Sale Agreement") for the Refineries on or before December 31, 2002, with an agreed closing date of no later than March 31, 2003, then the Borrower shall grant an Acceptable Security Interest over any part of the Refineries to the extent owned by the Borrower or any of its Subsidiaries within 15 Business Days of the earlier of (i) December 31, 2002, if the Sale Agreement in connection with such part of the Refineries has not been executed by December 31, 2002, and (ii) March 31, 2003, if the sale in connection with such part of the Refineries has not been fully and duly consummated and closed by March 31, 2003, and all filing fees, expenses, mortgage taxes and any other costs and expenses of the Collateral Agent or Collateral Trustee incurred in connection therewith shall be payable by the Borrower on demand.
Acceptable Security Interest. Cause an Acceptable Security Interest to exist at all times in all Collateral, except as to the Excluded Collateral and as otherwise contemplated by Section 5.01(g).
Acceptable Security Interest. (i) The Administrative Agent shall fail to have an Acceptable Security Interest in any material portion of the Collateral or (ii) any Security Instrument shall at any time and for any reason cease to create the Lien on the Property purported to be subject to such agreement in accordance with the terms of such agreement, or cease to be in full force and effect, or shall be contested by the Borrower or any of its Restricted Subsidiaries except as a result of the sale or other Asset Disposition of the applicable Collateral permitted under the Loan Documents. Notwithstanding the foregoing, if an Event of Default specified in clause (d) above shall have occurred and be continuing, such Event of Default and any consequential acceleration (to the extent not in violation of any applicable law or in conflict with any judgment or decree of a court of competent jurisdiction) shall be automatically rescinded if (i) the Indebtedness that is the subject of such Event of Default has been repaid or (ii) if the default relating to such Indebtedness is waived by the holders of such Indebtedness or cured and if such Indebtedness has been accelerated, then the holders thereof have rescinded their declaration of acceleration in respect of such Indebtedness, in each case within 20 days after the declaration of acceleration with respect thereto, and (iii) any other existing Events of Default, except nonpayment of principal, premium or interest on the Loans that became due solely because of the acceleration of the Loans, have been cured or waived.
Acceptable Security Interest in any Property, a Lien which (a) exists in favor of Lender for the benefit of the Secured Parties, (b) is superior to all Liens or rights of any other Person in the Property encumbered thereby (other than Permitted Liens), (c) secures the Obligations, and (d) is perfected and enforceable.
