New Security. To the extent that:
New Security. Within 10 Banking Days after a Subsidiary is designated as a Restricted Subsidiary pursuant to Section 15.1, the Borrower will cause such Restricted Subsidiary to execute and deliver to the Agent the applicable Security together with a certificate of a senior officer of such Harvest Party confirming that all authorizations and actions have been taken by such Harvest Party to authorize, execute and deliver such Security and that such Harvest Party is at the time of granting of such Security a wholly-owned Subsidiary of the Trust. The Borrower will also deliver or cause to be delivered such other documentation relating thereto, including legal opinions of the Borrower's Counsel, all in form and content acceptable to the Agent, acting reasonably.
New Security. First ranking and second ranking security documents necessary to give effect to the new security arrangements outlined below and in the Intercreditor Term Sheet; (e)
New Security. (i) Within 10 Banking Days after the creation or acquisition of a new Material Subsidiary or the designation of an existing Subsidiary as a new Material Subsidiary pursuant to Section 15.1, the Borrower will cause such Material Subsidiary to execute and deliver to the Agent the applicable Security together with a certificate of a senior officer of such Harvest Party confirming that all authorizations and actions have been taken by such Harvest Party to authorize, execute and deliver such Security.
(ii) Concurrently with the delivery of the applicable Security and other documents required pursuant to paragraph (i) of this Section 14.3(k), the Borrower will also deliver or cause to be delivered such other documentation relating thereto, including legal opinions of the Borrower's Counsel, all in form and content acceptable to the Agent, acting reasonably.
New Security. 5 NYSE........................................................................ 3
New Security. (a) To the extent any Senior Secured Notes Creditor Refinancing Liabilities cannot be secured pari passu with the then existing Senior Secured Liabilities under the existing Security Documents (the “Initial Security Documents”) without the Security under such Initial Security Documents first being released, the Parties agree that such Senior Secured Notes Creditor Refinancing Liabilities will (to the extent permitted by applicable law) be secured pursuant to the execution of additional security documents (the “Additional Security Documents”) on a second or lesser ranking basis.
(b) Notwithstanding paragraph (a) above, to the extent permitted by applicable law, any Senior Secured Notes Creditor Refinancing Liabilities which do not benefit from the Initial Security Documents on a pari passu basis will nonetheless be deemed and treated for the purpose of this Agreement and Clause 13 (Application of Proceeds) as secured by the Initial Security Documents and the Additional Security Documents pari passu with other Liabilities which would otherwise have the same ranking as contemplated by Clause 15.1 (Senior Secured Notes Creditor Refinancing Liabilities), subject to Clause 3.6 (Security and guarantees).
New Security. If:
(a) the Company has not procured any SIDF Facilities by the SIDF Longstop Date;
(b) at any time prior to the SIDF Longstop Date, the Company decides to no longer seek financing from SIDF for the Project; or
(c) SIDF has irrevocably released the Security granted to it pursuant to the SIDF Assignment of Technology Rights, the SIDF Assignment of Insurances and the SIDF Mortgages after the Company has discharged all of its obligations under each SIDF Facility Agreement (the "SIDF Release Event"), the Company, subject to Clause 8.2 (New Security Coverage), shall as soon as reasonably practicable and in any event within one hundred and twenty (120) days of the earlier to occur of (a), (b) and (c) above, execute security documents and deliver the same to, the Security Trustee and Agent in a form reasonably acceptable to the Security Trustee and Agent, and provide any other document as may be reasonably required by the Security Trustee and Agent, so as to:
(i) assign by way of first ranking security all of the Company's rights to receive Insurance Proceeds in favour of the Security Trustee and Agent (the "Company's Assignment of Insurances") ;
(ii) subject to clause 28.9 (Market availability) of the Common Terms Agreement:
(A) procure the assignment, by way of first ranking security, of all of the Insurers' rights to receive any re-insurance proceeds relative to the Project in favour of the Company (the "Insurers' Assignment of Re- insurances"); and
(B) assign by way of first ranking security all of the Company's rights to receive re-insurance proceeds relative to the Project in favour of the Security Trustee and Agent (the "Company's Assignment of Re- insurances");
(iii) assign by way of first ranking security all of the Company's rights under each Technology Rights Agreement in favour of the Security Trustee and Agent (the "Company's Assignment of Technology Rights"); and
(iv) pledge certain commercial assets comprising the Project Facilities (the "Commercial Pledge") in favour of the Security Trustee and Agent. together (i),(ii), (iii) and (iv) (the "New Security"). and as soon as is reasonably practicable thereafter perfect such New Security in a manner reasonably required by the relevant Security Trustee and Agent. 560734-v2\BAHDMS
New Security. Any new security created (and guarantees and indemnities granted), in respect of any Secured Obligation shall be extended to and shared between the Secured Parties on a pro rata basis and in accordance with the ranking and priority set forth above.
New Security. (i) Within 10 Banking Days after a Subsidiary (other than a JV Partnership) is designated as a Restricted Subsidiary pursuant to Section 15.1, the Borrower will cause such Restricted Subsidiary to execute and deliver to the Agent the applicable Security together with a certificate of a senior officer of such Harvest Party confirming that all authorizations and actions have been taken by such Harvest Party to authorize, execute and deliver such Security and that such Harvest Party is at the time of granting of such Security a wholly-owned Subsidiary of the Borrower.
(ii) Within 10 Banking Days after a JV Partnership becomes a wholly-owned Restricted Subsidiary, the Borrower will cause such Restricted Subsidiary to execute and deliver to the Agent the applicable Security together with a certificate of a senior officer of such Harvest Party confirming that all authorizations and actions have been taken by such Harvest Party to authorize, execute and deliver such Security and that such Harvest Party is at the time of granting of such Security a wholly-owned Subsidiary of the Borrower.
(iii) Concurrently with the delivery of the applicable Security and other documents required pursuant to paragraphs (i) and (ii) of this Section 14.2(m), the Borrower will also deliver or cause to be delivered such other documentation relating thereto, including legal opinions of the Borrower's Counsel, all in form and content acceptable to the Agent, acting reasonably.
New Security. An Authorized Pool Representative may by written order require the Depository to pledge additional or other Permissible Securities at any time it is determined to be advisable or necessary for the protection of the Pool. If for any reason the Total Pool Balance on deposit with the Depository exceeds the market value of pledged security, the Depository shall immediately pledge additional Permissible Securities to the Pool. The Pool may at any time investigate the value of securities pledged by the Depository to secure the Pool funds. Should the Depository fail to pledge the required Permissible Securities within five (5) days after the date the Depository is served with a copy of said order, the Pool's Board of Trustees may select a new depository and terminate this Agreement without any further obligation to the Depository.
