Certain Limits on Collateral Sample Clauses
The 'Certain Limits on Collateral' clause defines specific restrictions on the types or amounts of assets that can be used as collateral in a contractual arrangement. Typically, this clause may set maximum values for collateral, exclude certain asset classes, or require that collateral meet particular quality or liquidity standards. By establishing these boundaries, the clause helps manage risk for both parties and ensures that the collateral provided is appropriate and sufficient to secure the obligations under the agreement.
Certain Limits on Collateral. Notwithstanding anything in this Indenture or any other Security Document, it is understood and agreed that:
(a) Liens required to be granted from time to time pursuant to this Indenture shall be subject to exceptions and limitations set forth in the Security Documents as in effect on the Issue Date;
(b) control agreements or other control or similar arrangements shall not be required with respect to deposit accounts, securities accounts, commodities accounts or other assets specifically requiring perfection by control agreements (other than certain certificated securities);
(c) no perfection actions shall be required with respect to Vehicles and other assets subject to certificates of title;
Certain Limits on Collateral. Notwithstanding anything in this Indenture or any other Security Document, it is understood and agreed that:
(a) Liens required to be granted from time to time pursuant to this Indenture shall be subject to exceptions and limitations set forth in the Security Documents;
(b) [reserved];
(c) no perfection actions shall be required with respect to Vehicles and other assets subject to certificates of title (except to the extent a security interest therein can be perfected by a UCC filing);
(d) [reserved];
(e) no actions in any non-U.S. jurisdiction or required by the laws of any non-U.S. jurisdiction shall be required to be taken to create any security interests in assets located or titled outside of the United States (including any Equity Interests of any Foreign Subsidiaries and foreign intellectual property) or to perfect or make enforceable any security interests in any such assets (it being understood that there shall be no security agreements or pledge agreements governed under the laws of any non-U.S. jurisdiction);
(f) no actions shall be required to perfect a security interest in letter of credit rights (other than the filing of UCC financing statements); and
(g) neither the Company nor any Guarantor shall be required to deliver or obtain any landlord lien waivers, estoppel certificates or collateral access agreements or letters.
Certain Limits on Collateral. Notwithstanding anything in this Indenture or any other Security Document, it is understood and agreed that:
(a) Liens required to be granted from time to time pursuant to this Indenture shall be subject to exceptions and limitations set forth in the Security Documents as in effect on the Issue Date;
(b) control agreements or other control or similar arrangements shall not be required with respect to deposit accounts, securities accounts, commodities accounts or other assets specifically requiring perfection by control agreements (other than certain certificated securities);
(c) no perfection actions shall be required with respect to Vehicles and other assets subject to certificates of title;
(d) no perfection actions shall be required with respect to commercial tort claims with a value less than $15,000,000 and no perfection shall be required with respect to promissory notes evidencing debt for borrowed money in a principal amount of less than $15,000,000;
(e) no actions in any non-U.S. jurisdiction or required by the laws of any non-U.S. jurisdiction shall be required to be taken to create any security interests in assets located or titled outside of the United States (including any Equity Interests of any Foreign Subsidiaries and foreign intellectual property) or to perfect or make enforceable any security interests in any such assets (it being understood that there shall be no security agreements or pledge agreements governed under the laws of any non-U.S. jurisdiction);
(f) no actions shall be required to perfect a security interest in letter of credit rights (other than the filing of UCC financing statements); and
(g) neither the Company nor any Guarantor shall be required to deliver or obtain any landlord lien waivers, estoppel certificates or collateral access agreements or letters.