Mexican Security Agreements Clause Samples
The Mexican Security Agreements clause establishes the terms under which security interests are created and governed in accordance with Mexican law. It typically outlines the types of collateral involved, the process for perfecting security interests, and the obligations of the parties to ensure compliance with local legal requirements. This clause is essential for ensuring that lenders or secured parties have enforceable rights over assets located in Mexico, thereby mitigating the risk of unenforceable security interests due to jurisdictional issues.
Mexican Security Agreements. Core Molding and each Domestic Guarantor of Payment with assets in Mexico shall have executed and delivered to Agent, for the benefit of the Lenders, a Mexican Security Agreement, and such other documents or instruments as may be required by Agent to create or perfect the Liens of Agent, for the benefit of the Lenders, in the assets of such Company, all to be in form and substance satisfactory to Agent.
Mexican Security Agreements. Notwithstanding anything to the contrary contained herein, the Mexican Parties will grant to the Notes Collateral Agent and/or the applicable Common Representative, as the case may be, and their respective successors and permitted assigns, for the benefit of the Secured Notes Secured Parties, on the terms of and pursuant to the Mexican Security Agreements, a continuing security interest in all of its right in, and title and interest to and under all of the Pledged Assets and/or Pledged Equity Interests (to be defined in the Mexican Security Agreements). Any such Collateral owned by the Mexican Parties and secured under the Mexican Security Agreements, shall be secured exclusively under such Mexican Security Agreements. NOTICES SECTION