Interest as a Security Sample Clauses
The 'Interest as a Security' clause establishes that a party's interest in a contract or asset serves as collateral to secure the fulfillment of obligations under the agreement. In practice, this means that if the obligated party fails to meet their commitments, the other party may claim or enforce rights over the secured interest, such as property, shares, or other assets. This clause is primarily used to reduce risk by providing a tangible guarantee for performance, ensuring that the party owed has a means of recourse if the agreement is breached.
Interest as a Security. An Interest in the Company shall constitute a security for all purposes of Article 8 of the Uniform Commercial Code promulgated by the National Conference of Commissioners on Uniform State Laws, as in effect in Delaware or any other applicable jurisdiction. Delaware law shall constitute the local law of the Company’s jurisdiction in its capacity as the issuer of Interests.
Interest as a Security. A Common Unit evidenced by a Certificate shall constitute a security for all purposes of Article 8 of the Uniform Commercial Code promulgated by the National Conference of Commissioners on Uniform State Laws, as in effect in Utah or any other applicable jurisdiction. Utah law shall constitute the local law of the Company’s jurisdiction in its capacity as the issuer of Common Units.
Interest as a Security. A Common Unit evidenced by a Certificate shall constitute a security for all purposes of Article 8 of the Uniform Commercial Code promulgated by the National Conference of Commissioners on Uniform State Laws, as in effect in Delaware or any other applicable jurisdiction. Delaware law shall constitute the local law of the Company's jurisdiction in its capacity as the issuer of Common Units. ARTICLE V
Interest as a Security. A Common Unit evidenced by a Certificate shall constitute a security for all purposes of Article 8 of the Uniform Commercial Code promulgated by the National Conference of Commissioners on Uniform State Laws, as in effect in Texas or any other applicable jurisdiction. Texas law shall constitute the local law of the Company's jurisdiction in its capacity as the issuer of Common Units.
Interest as a Security. A Unit in the Company evidenced by a Certificate shall constitute a security for all purposes of Article 8 of the Uniform Commercial Code promulgated by the National Conference of Commissioners on Uniform State Laws, as in effect in Delaware or any other applicable jurisdiction. Delaware law shall constitute the local law of the Company's jurisdiction in its capacity as the issuer of Units.
Interest as a Security. A membership interest of a ---------------------- Member in the Company evidenced by a Certificate shall constitute a security for all purposes of Article 8 of the Uniform Commercial Code promulgated by the National Conference of Commissioners on Uniform State Laws, as in effect in Delaware or any other applicable jurisdiction. Delaware law shall constitute the local law of the Company's jurisdiction in its capacity as the issuer of membership interests of a Member in the Company.
2. Upon the execution and delivery of this Amendment, the LLC Agreement shall be amended in accordance herewith and this Amendment shall form a part of the LLC Agreement for all purposes, and Huntsman and every Member (as defined in the LLC Agreement) shall be bound by the LLC Agreement, as so amended.
Interest as a Security. A membership interest of a Member in the Company evidenced by a Certificate shall constitute a security for all purposes of Article 8 of the Uniform
Interest as a Security. Each Share shall constitute a "security" within the meaning of, and shall be governed by, (i) Article 8 of the Uniform Commercial Code (including Section 8-102(a)(15) thereof) as in effect from time to time in the State of Delaware and (ii) the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995.
Interest as a Security. An interest in the Trust evidenced by a Certificate shall constitute a security for all purposes of Article 8 of the Uniform Commercial Code promulgated by the National Conference of Commissioners on Uniform State Laws, as in effect in Delaware or any other applicable jurisdiction. Delaware law shall constitute the local law of the Trust's jurisdiction in its capacity as the issuer of Trust Interests. ARTICLE