Financial Indebtedness and Security Clause Samples
Financial Indebtedness and Security. 19.10.1 No member of the Group has any Financial Indebtedness outstanding other than Financial Indebtedness which constitutes Permitted Financial Indebtedness.
19.10.2 No Security exists over the whole or any part of the assets of any member of the Group, other than Security which constitutes a Permitted Encumbrance.
19.10.3 Subject to filing and registration required by law (where applicable) with the appropriate statutory public register, each Security Document to which it is a party creates the security interests which it purports to create, and the Transaction Security so established:
(a) is valid and effective;
(b) constitutes first priority Security of the type described, over the assets referred to, in the relevant Security Document and those assets are not subject to any prior or pari passu Security in favour of any other person;
(c) is not subject to avoidance in the event of any winding-up, dissolution or administration involving any Obligor.
Financial Indebtedness and Security. 17.10.1. The Borrower does not have any Financial Indebtedness outstanding, except as expressly permitted under Clause 20.5 (Financial Indebtedness).
17.10.2. No Security exists over the whole or any part of the assets of the Borrower, except as expressly permitted under Clause 20.3 (Negative pledge).
17.10.3. Subject (on the Signature Date only) to filing and registration required by law (where applicable) with the appropriate statutory public register, each Security Document creates the security interests which it purports to create, and the Security so established:
17.10.3.1. is valid and effective;
17.10.3.2. constitutes first priority Security of the type described, over the assets referred to, in the relevant Security Document and those assets are not subject to any prior or pari passu Security in favour of any other person;
17.10.3.3. is not subject to avoidance in the event of any winding-up, dissolution or administration involving the Borrower.
Financial Indebtedness and Security. The following documents in relation to the Financial Indebtedness of, Security and guarantees granted by, the Additional Obligor:
(a) completion of searches in relation to the Additional Obligor dated no earlier than the date of the Accession Letter;
(b) evidence of registration of any Security; and
(c) evidence of discharge of any existing Financial Indebtedness or Security.
Financial Indebtedness and Security. (a) No Offshore Obligor has any Financial Indebtedness other than as permitted under the terms of this Agreement.
(b) No Offshore Obligor has any of its property or assets subject to any Security other than as permitted under the terms of this Agreement.
(c) No Security or Quasi-Security exists over all or any of the Charged Property other than as permitted by the Finance Documents.
Financial Indebtedness and Security. 19.10.1 No member of the Net1 Group has any Financial Indebtedness outstanding other than Financial Indebtedness which constitutes Permitted Financial Indebtedness.
19.10.2 No Security exists over the whole or any part of the assets of any member of the Net1 Group, other than Security which constitutes a Permitted Encumbrance.
19.10.3 Subject to filing and registration required by law (where applicable) with the appropriate statutory public register, each Security Document to which it is a party creates the security interests which it purports to create, and the Transaction Security so established:
(a) is valid and effective;
(b) constitutes first priority Security of the type described, over the assets referred to, in the relevant Security Document and those assets are not subject to any prior or pari passu Security in favour of any other person;
Financial Indebtedness and Security. (a) No member of the Group has any Financial Indebtedness outstanding other than as permitted under Clause 21.13 (Financial Indebtedness).
(b) No Security exists over all or any of the present or future assets of any member of the Group other than any Security permitted under Clause 21.4 (Negative pledge).
Financial Indebtedness and Security. (a) No member of the Group has any Financial Indebtedness outstanding except for any Permitted Financial Indebtedness.
(b) No Security or Quasi-Security exists over all or any of the present or future assets of any member of the Group except for any Permitted Security.
Financial Indebtedness and Security. Save as disclosed to the Lenders prior to the date of this Agreement, no Security or Quasi-Security exists over all or any of its present or future assets or the present or future assets of any of its Subsidiaries other than as permitted by this Agreement, and neither it nor any of its Subsidiaries has any Indebtedness outstanding other than as permitted by this Agreement.
Financial Indebtedness and Security. No member of the Group has incurred any Financial Indebtedness and no Security exists over the undertaking, property or assets of any of them except, in either case, to the extent (i) permitted by the terms of this Agreement or (ii) to be repaid or discharged on the Completion Date.
Financial Indebtedness and Security. 18.29.1. No Obligor has any Financial Indebtedness (including but not limited to contingent liabilities) outstanding which is not permitted by the terms of this Agreement.
18.29.2. No Security (or quasi security) exists over the whole or any part of its assets or the assets of any member of the Group other than as permitted in this Agreement.