Additional Secured Obligations. (a) Any Lien Grantor may from time to time designate any indebtedness constituting a Capital Markets Event as an additional Secured Obligation by delivering to the Collateral Agent a certificate signed by a financial officer that (i) identifies such indebtedness and the material terms thereof and (ii) states that the obligations thereunder are designated as Secured Obligations; provided that no such designation shall be effective unless and until, and solely to the extent that, the commitments under the Credit Agreements shall have been reduced and the loans outstanding thereunder shall have been repaid, in each case to the extent required by the terms of the Credit Agreements as a result of such Capital Markets Event ; provided further that if a designation of indebtedness constituting a Capital Markets Event shall have been made pursuant to (and in accordance with the terms of) (x) Section 22(b) of the U.S. Security Agreement or (y) Section 21(b) of the Canadian Security Agreement, then such designated indebtedness shall constitute a Secured Obligation of each Lien Grantor without any further action on the part of any Lien Grantor.
(b) Any Lien Grantor that is a Material Subsidiary of NNL may from time to time designate any indebtedness for borrowed money (other than indebtedness constituting a Capital Markets Event) owed by any Material Subsidiary of NNL or NNI to any Bank or any wholly-owned subsidiary of any Bank or any other financial institution and outstanding on December 20, 2001 or incurred pursuant to a commitment to extend credit in effect on such date or any extensions, renewals, replacements and refinancings thereof as an additional Secured Obligation by delivering to the Collateral Agent a certificate signed by a financial officer that (i) identifies such indebtedness and the material terms thereof and (ii) states that the obligations thereunder are designated as Secured Obligations; provided that the aggregate amount of indebtedness (without duplication) designated as "Designated Bank Debt" under this Agreement and any other security or guarantee document entered into by NNL, NNI and their Material Subsidiaries for the benefit of the Secured Parties will not exceed $300,000,000 in aggregate principal amount; provided further that if a designation of indebtedness for borrowed money shall have been made pursuant to (and in accordance with the terms of) (x) Section 22(c) of the U.S. Security Agreement or (y) Section 21(c) of the Canadian Secur...
Additional Secured Obligations. 31 SECTION 19. Notices ..........................................................32 SECTION 20. No Implied Waivers; Remedies Not Exclusive .......................33 SECTION 21. Successors and Assigns ...........................................33 SECTION 22.
Additional Secured Obligations. All amounts due under this Section shall be payable within 10 days of written demand therefor. If any amount payable by any Debtor under this Agreement is not paid when due, such amount shall (i) thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws and (ii) be additional Secured Obligations secured hereby and by the other Loan Documents to which a Debtor is a party.
Additional Secured Obligations. On or after the Issue Date and so long as permitted by the Indenture, the Company may from time to time designate additional Obligations of the Company or any Guarantor permitted to be Incurred under the Indenture and to be secured by a Lien on the Collateral as additional Obligations hereunder (“Additional Secured Obligations”) by delivering to the Collateral Agent and each Authorized Representative (a) a certificate signed by an Authorized Officer of the Company (i) identifying the obligations so designated and the aggregate principal amount or face amount thereof, stating that such obligations are designated as Additional Secured Obligations for purposes hereof, (ii) representing that such designation of such obligations as Additional Secured Obligations complies with the terms of the Indenture Documents and the applicable Additional Secured Debt Documents and (iii) specifying the name and address of the Authorized Representative for such obligations, (b) a fully executed Additional Secured Party Consent (in the form attached as Annex C); and (c) an Opinion of Counsel to the effect that the designation of such obligations as “Additional Secured Obligations” is in compliance with the terms of the Indenture and the Notes. Each Authorized Representative agrees that upon the satisfaction of all conditions set forth in the preceding sentence, the Collateral Agent shall act as agent under and subject to the terms of this Agreement for the benefit of all Secured Parties, including without limitation, any Secured Parties that hold any such Additional Secured Obligations, and each Authorized Representative agrees to the appointment, and acceptance of the appointment, of the Collateral Agent as agent for the holders of such Additional Secured Obligations as set forth in each Additional Secured Party Consent and agrees, on behalf of itself and each Additional Secured Party it represents, to be bound by this Agreement. [SIGNATURE PAGES FOLLOW]
Additional Secured Obligations. 30 SECTION 20. Notices ................................................. 31
Additional Secured Obligations. If the Company at any time Incurs any Indebtedness secured by a Lien on the Collateral, the Trustee and the Notes Collateral Agent are empowered to enter into such security, collateral, intercreditor and other similar agreements as are necessary to set forth the relative rights and obligations of the Trustee and the Notes Collateral Agent, on the one hand, and the agent or representative for the lenders of such Indebtedness, on the other hand, in the Collateral.
Additional Secured Obligations. All amounts due under this Section shall be payable within ten days of written demand therefor. If any amount payable by the Pledgor under this Agreement is not paid when due, such amount shall (i) thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate set forth in the Credit Agreement and (ii) be additional Secured Obligations secured hereby and by the other Loan Documents.
Additional Secured Obligations. Notwithstanding anything to the contrary contained herein or in any other Loan Document, Secured Cash Management Agreement or any Secured Hedge Agreement, if at any time there shall be insufficient Approved Cash Collateral (or other collateral security acceptable to the Lender) to secure all Additional Secured Obligations, and the Borrower fails to deposit into the Cash Collateral Account or other account maintained with the Lender (pursuant to cash collateral arrangements satisfactory to the Lender) in an amount sufficient to eliminate such deficiency within one (1) Business Day after demand by the Lender or its Affiliates party to such Secured Cash Management Agreement or Secured Hedge Agreement, then each of the Lender and its Affiliates party to any such Secured Cash Management Agreement or Secured Hedge Agreement shall have the option to terminate such Secured Cash Management Agreement or Secured Hedge Agreement, to the extent of the Additional Secured Obligations that are not collateralized in a manner satisfactory to the Lender and/or each Affiliate of the Lender party thereto, as applicable.
Additional Secured Obligations. (a) The Borrower may from time to time designate any of its or any other Grantor's obligations under any Secured Hedge Agreement as Secured Obligations for the purposes hereof by delivering to the Administrative Agent a certificate signed by a Responsible Officer that (i) identifies such Secured Hedge Agreement, specifying the names and address of the other party thereto, the notional principal amount thereof and the expiration date thereof and (ii) states that the Borrower's or such Grantor's obligations thereunder are designated as a Secured Obligation for the purpose hereof (the obligations in respect of any such designated Secured Hedge Agreement, "Secured Hedging Obligations").
(b) The Borrower may from time to time designate any of its or any other Grantor's obligations with respect to any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds as Secured Obligations for the purpose hereof by delivering to the Administrative Agent a certificate signed by a Responsible Officer that (i) specifies the name and address of the Person to which such obligations are owed and (ii) states that such obligations are designated as Secured Obligations for the purpose hereof (such designated obligations, "Cash Management Obligations").
Additional Secured Obligations. The Company may from time to time designate its obligations under any Rate Protection Agreement as an additional Secured Obligation for purposes hereof by delivering to the Collateral Agent a certificate signed by a Financial Officer of the Company that (i) identifies such Rate Protection Agreement, specifying the name and address of the other party thereto, the notional principal amount thereof and the expiration date thereof and (ii) states that the Company's obligations thereunder are designated as Secured Obligations for purposes hereof.
