Covenants for the Security Parties Sample Clauses
The "Covenants for the Security Parties" clause sets out specific promises and obligations that the parties providing security in a transaction must adhere to. These covenants typically require the security parties to maintain the value of the secured assets, refrain from actions that could impair the security, and provide ongoing information or documentation to the lender. For example, a security party may be required to insure the secured property or obtain consent before transferring any interest in it. The core function of this clause is to protect the lender’s interests by ensuring that the collateral remains sufficient and enforceable throughout the life of the agreement.
Covenants for the Security Parties. Ensure and procure that all other Security Parties and each of them duly and punctually comply, with the covenants in Clauses 8.1 to 8.10 which are applicable to them mutatis mutandis.
Covenants for the Security Parties. 11.10.01. (Security Parties) ensure and procure that each of the Security Parties will duly and punctually comply with the covenants, conditions, undertakings, agreements or obligations on its or his part contained in any of the Security Documents or shall not in any other way be in breach of or do or cause to be done any act repudiating or evidencing an intention to repudiate any of the Security Documents or that there shall not occur any event which would or would with the passage of time render performance of any of the Security Documents impossible or unlawful or unenforceable by the Bank.
Covenants for the Security Parties. The Borrower undertakes that until all moneys, obligations and liabilities due, owing or incurred by the Borrower under this Agreement and the Security Documents have been paid in full, that will ensure and procure that all other Security Parties and each of them duly and punctually comply with the covenants in Clauses 8.1 to 8.12 which are applicable to them mutatis mutandis.
Covenants for the Security Parties. Ensure and procure that each of the other Security Parties and the Manager will duly and punctually comply, with the covenants which are applicable to them pursuant to the Security Documents to which it is a party and that each of the other Security Parties and the Manager will, duly and punctually perform each of the obligations expressed to be assumed by them under the Security Documents;
Covenants for the Security Parties. Ensure and procure that all other Security Parties and each of them duly and punctually comply, with the covenants in Clauses 8.1 to 8.9 which are applicable to them mutatis mutandis.