Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Deed constitute “financial collateral” and this Deed and the obligations of the Chargors under this Deed constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226)) the Collateral Agent shall have the right after this Security has become enforceable to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Obligations.
(b) For the purpose of paragraph (a) above, the value of the financial collateral appropriated shall be such amount as the Collateral Agent reasonable determines having taken into account advice obtained by it from an independent investment or accountancy firm of national standing selected by it.
Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Security Agreement constitute “financial collateral” and this Security Agreement and the obligations of a Chargor under this Security Agreement constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226)) the Collateral Agent will have the right after this Security has become enforceable to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Liabilities.
(b) Where any financial collateral is appropriated:
(i) if the financial collateral is listed or traded on a recognised exchange its value will be taken as the value at which it could have been sold on the exchange on the date of appropriation; or
(ii) in any other case, the value of the financial collateral will be such amount as the Collateral Agent reasonably determines, acting in good faith and in consultation with the relevant Chargor, having taken into account advice obtained by it from an independent investment or accountancy firm of national standing selected by it; and each Secured Party will give credit for the proportion of the value of the financial collateral appropriated to its use.
Financial Collateral. The parties agree and acknowledge that:
(a) the Financial Collateral Assets constitute financial collateral, and
(b) this Debenture and the obligations of the Chargor under this Debenture are a security financial collateral arrangement, (in each case) for the purposes of the Financial Collateral Regulations.
Financial Collateral. 1. To secure the above specified Secured Claims, the Client and AKCENTA hereby agree upon Financial Collateral within the meaning of the Financial Collateral Act, having the nature of a pledge over the Financial Collateral in favor of AKCENTA.
2. The financial collateral which is the subject of the agreed Financial Collateral are the Client's monetary funds deposited by the Client in the IPA in accordance with Art. I.(2) of this Schedule (“Financial Collateral”). For the avoidance of any doubts, any amount deposited by the Client in the IPA as security within the meaning of Art. V.3 of the GBTC, both at agreeing upon the Services and at replenishing the security, shall be deemed Financial Collateral. The Client shall be informed about the depositing, and the amount of, Financial Collateral in accordance with Art. V.3 GBTC.
Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Deed constitute “financial collateral” and this Deed and the obligations of the Pledgor under this Deed constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Law 2004 (Law 43(I)/ 2004) the Pledgee shall have the right after this Security has become enforceable to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Liabilities.
(b) For the purpose of paragraph (a) above, the value of the financial collateral appropriated shall be the Market Value.
Financial Collateral. In connection with arranging financial collateral, the Client in particular: a) shall not, without Citfin's prior written consent, transfer the Financial Collateral to another person if any of the events of default for financial collateral purposes has occurred or is threatened to occur (Article 9.11);
Financial Collateral. (a) To the extent that the Collateral constitutes “financial collateral” and this Deed and the obligations of a Chargor under this Deed constitute a “security financial collateral arrangement” (in each case, for the purpose of and as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003), the Notes Collateral Agent may (but shall not be obligated to) after this Security has become enforceable appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Obligations.
(b) Where the Notes Collateral Agent appropriates any financial collateral:
(i) if it is cash, its value will be the amount standing to the credit of the relevant account plus any accrued but uncredited interest on the date of appropriation;
(ii) if it is listed or traded on a recognised exchange, its value will be taken as the value at which it could have been sold on the exchange on the date of appropriation; and
(iii) in any other case, its value will be the amount that the Notes Collateral Agent reasonably determines having taken into account advice obtained by it from an independent investment or accountancy firm of national standing selected by it, and each Secured Party will give credit for the proportion of the value of the financial collateral appropriated to its use.
Financial Collateral. (a) To the extent that the Security Assets constitute “financial collateral” and this Deed and the obligations of the Chargor under this Deed constitute a “security financial collateral arrangement” (in each case, for the purpose of and as defined in the Financial Collateral Arrangements (No. 2) Regulations 2003), the Security Agent will have the right after this Security has become enforceable to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Obligations in accordance with the Interim Facility Agreement.
(b) Where any financial collateral is appropriated, the Parties agree that its value shall be determined as follows and in any event in a commercially reasonable manner:
(i) in the case of financial instruments which are publicly traded on a recognised exchange, the market price of those financial instruments shall be determined by the Security Agent by reference to the price quoted on the relevant public index at the time of appropriation;
(ii) in the case of cash denominated in the currency of denomination of the Secured Obligations, the amount thereof;
(iii) in the case of any other cash, the amount of the currency of denomination of the Secured Obligations that the Security Agent could purchase with the amount appropriated in the London foreign exchange market at its spot rate of exchange (or, if the Security Agent does not have an available spot rate of exchange) at any other publicly available spot rate of exchange selected by the Security Agent (acting reasonably), in each case at or about 11:00 a.m. on the date of appropriation; or
(iv) in any other case, such amount as the Security Agent reasonably determines having taken into account advice obtained by it from an independent investment bank or accountancy firm of national standing selected by it, and each Interim Finance Party will give credit for the proportion of the value of the financial collateral appropriated to its use.
Financial Collateral. (a) To the extent that the assets mortgaged or charged under this Deed constitute “financial collateral” and this Deed and the obligations of the Chargor under this Deed constitute a “security financial collateral arrangement” (in each case for the purpose of and as defined in the Financial Collateral Arrangements (No.2) Regulations 2003 (SI 2003 No. 3226)) the Collateral Agent shall have the right after this Security has become enforceable to appropriate all or any part of that financial collateral in or towards the satisfaction of the Secured Obligations.
(b) For the purpose of paragraph (a) above, the value of the financial collateral appropriated shall be (i) in the case of cash, the amount standing to the credit of each of the Security Accounts, together with any accrued but unposted interest, at the time the right of appropriation is exercised; and (ii) in the case of any other asset, such amount such amount as the Collateral Agent reasonable determines having taken into account advice obtained by it from an independent investment or accountancy firm of national standing selected by it. In each case, the parties agree that the method of valuation provided for in this Deed shall constitute a commercially reasonable method of valuation for the purposes of the Regulations.
Financial Collateral. 6.1. This section of the Framework Agreement has not been arranged.
