Common use of Creation of additional security Clause in Contracts

Creation of additional security. The value of any additional security which the Borrower offers to provide to remedy all or part of a shortfall in the amount of the Security Value will only be taken into account for the purposes of determining the Security Value if and when: (a) that additional security, its value and the method of its valuation have been approved by the Lenders; (b) a Security Interest over that security has been constituted in favour of the Security Agent or (if appropriate) the Finance Parties in an approved form and manner; (c) this Agreement has been unconditionally amended in such manner as the Agent requires in consequence of that additional security being provided; and (d) the Agent, or its duly authorised representative, has received such documents and evidence it may reasonably require in relation to that amendment and additional security including documents and evidence of the type referred to in Schedule 3 in relation to that amendment and additional security and its execution and (if applicable) registration.

Creation of additional security. The value of any additional security which the Borrower offers Borrowers offer to provide to remedy all or part of a shortfall in the amount of the Security Value will only be taken into account for the purposes of determining the Security Value if and when: (a) that additional security, its value and the method of its valuation have been approved by the Majority Lenders; (b) a Security Interest over that security has been constituted in favour of the Security Agent or (if appropriate) the Finance Parties in an approved form and manner; (c) this Agreement has been unconditionally amended in such manner as the Agent requires in consequence of that additional security being provided; and (d) the Agent, or its duly authorised representative, has received such documents and evidence it may reasonably require in relation to that amendment and additional security including documents and evidence of the type referred to in Schedule 3 in relation to that amendment and additional security and its execution and (if applicable) registration.

Creation of additional security. The value of any additional security which the Borrower offers to provide to remedy all or part of a shortfall in the amount of the Security Value will only be taken into account for the purposes of determining the Security Value if and when: (a) that additional security, its value and the method of its valuation have been approved by the Lenders; (b) a Security Interest over that security has been constituted in favour of the Security Agent or (if appropriate) the Finance Parties in an approved form and manner; (c) this Agreement has been unconditionally amended in such manner as the Agent requires in consequence of that additional security being provided; and (d) the Agent, or its duly authorised representative, has received such documents and evidence it may reasonably require in relation to that amendment and additional security including documents and evidence of the type referred to in Schedule 3 in relation to that amendment and additional security and its execution and (if applicable) registration.

Creation of additional security. The value of any additional security which the Borrower offers Borrowers offer to provide to remedy all or part of a shortfall in the amount of the Security Value will only be taken into account for the purposes of determining the Security Value if and when: (a) that additional security, its value and the method of its valuation have been approved by the Majority Lenders; (b) a Security Interest over that security has been constituted in favour of the Security Agent or (if appropriate) the Finance Parties Trustee in an approved form and manner; (c) this Agreement has been unconditionally amended in such manner (if any) as the Agent requires in consequence of that additional security being provided; and (d) the Agent, or its duly authorised representative, has received such documents and evidence it may reasonably require in relation to that amendment and additional security (including documents and evidence of the type referred to in Schedule 3 legal opinions) in relation to that amendment and additional security and its execution and (if applicable) registration.