Obligations Secured by the Security Sample Clauses

Obligations Secured by the Security. (1) The documents constituting the Security shall secure the present and future indebtedness, obligations and other liabilities of each of the applicable Loan Parties specified therein to the Secured Parties under the Loan Documents to which such Loan Party is a party, other than Excluded Swap Obligations (the “Secured Obligations”) and all such Secured Obligations shall rank pari passu with each other and any proceeds from any realization of the Collateral shall be applied to the Secured Obligations rateably in accordance with Section 10.03 (whether such Collateral is in the name of the Agent or in the name of any one or more of the Lenders, the Service Lenders or Hedge Lenders and without regard to any priority to which any Lender, the Service Lenders or Hedge Lender may otherwise be entitled under applicable law). Notwithstanding the rights of the Hedge Lenders and the Service Lenders to benefit from the Security, all decisions concerning the Security and the enforcement thereof shall be made by the Lenders or the Majority Lenders in accordance with this Agreement and the other Loan Documents. No Hedge Lender or Service Lender shall have any additional right to influence the Security or the enforcement thereof as long as this Agreement remains in force. (2) The Eligible Hedging Agreements shall not cease to be secured except in accordance with the terms of such agreements or with the prior written consent of the applicable Hedge Lender. If the Accommodations Outstanding have been indefeasibly paid and performed in full in cash and this Agreement and the Commitments have been terminated, the Hedge Lenders and the Service Lenders will release their interest in the Security upon receiving collateral to secure the present or future obligations under their respective Eligible Hedging Agreement or Other Secured Agreements, as applicable, in an amount and on terms satisfactory to such Hedge Lenders or Services Lenders, acting reasonably (or as otherwise provided in the applicable Eligible Hedging Agreement or Other Secured Agreement) and such Secured Obligations shall continue to rank pari passu with each other and such collateral shall be applied rateably to such Secured Obligations (and decisions concerning the Security shall be made by the Hedge Lenders and the Service Lenders as they may determine among themselves). The provisions of this Section 6.04(2) shall survive the termination of this Agreement and the repayment of the Accommodations Outstanding.
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Obligations Secured by the Security. (1) Unless otherwise agreed by the Lenders among themselves, the Security shall support the following obligations pari passu with each other: (a) the Obligations; and (b) the Other Secured Obligations. (2) Other Secured Obligations shall not cease to be guaranteed and secured by the Security without the prior written consent of the applicable Holder to whom the Other Secured Obligations are owed, although Other Secured Obligations shall cease to be such as contemplated in Section 1.1(97). If the Obligations have been indefeasibly paid in full and the Commitments have been cancelled, the Holders shall release their interest in the Security on receiving Cash Collateral to secure the Other Secured Obligations, in an amount satisfactory to the Holders to whom Other Secured Obligations are owed, acting reasonably. (3) Notwithstanding the rights of Holders to benefit from the Security in respect of the Other Secured Obligations, all decisions concerning the Security (including the enforcement and release thereof) shall be made by the Lenders or the Required Lenders in accordance with this Agreement and no Holder shall have any additional right to participate in decisions concerning the Security or their enforcement or release as a result of holding Other Secured Obligations as long as this Agreement remains in force. Notwithstanding the termination of this Agreement by reason of payment of the Credit, or for any other reason, the Other Secured Obligations shall continue to be guaranteed and secured by the Security. After the termination of this Agreement, decisions concerning the Security shall be made by the Holders as they may determine among themselves. (4) The Agent will also act as secured party (or, in Québec, hypothecary representative) to hold the Security for the benefit of the Holders and, by accepting the benefit of the Security, the Holders will accept such appointment under the terms and conditions of this Agreement (including the foregoing provisions on decisions and the provisions of Article 9 adapted accordingly).
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Obligations Secured by the Security. The Security shall secure the following obligations, pari passu with each other: (a) the Obligations; and (b) all other debts, liabilities and obligations of the Obligors to the Lender (other than under the Debentures), including those relating to Swaps.
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Obligations Secured by the Security. 3.2.1 Unless otherwise agreed by the Lenders among themselves (subject to Section 9.2.5 of this Agreement), the documents constituting the Security shall secure the following obligations: (a) the Obligations; (b) the present and future debts, liabilities and obligations of the Obligors (either as principal obligor or guarantor) under or in connection with (collectively, the “Other Secured Obligations”): (i) cash management transactions, provided that (A) any such transaction is entered into in the Ordinary Course, (B) any such transaction is entered into with the intention that any obligations arising thereunder be settled on the same day such obligations are incurred, (C) any such transaction is not entered with the intention of providing additional long term credit to ATS or any of its Subsidiaries, and (D) any such transaction has not been entered into on any day if any obligations arising under any such transactions entered into on any day prior thereto have not been settled; (ii) credit cards; (iii) Derivatives other than Excluded Swap Obligations; (iv) Bi-Lateral L/Cs; (v) the Obligors obligations to pay, discharge and satisfy the Erroneous Payment Subrogation Rights;
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Obligations Secured by the Security. The Security Documents shall secure the present and future Secured Liabilities and any proceeds from any realization of the Collateral shall be applied to the Secured Liabilities pursuant to Section 2.13(3).
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Obligations Secured by the Security. 4.4.1 Unless otherwise agreed by the Lenders among themselves, the Security Documents shall secure the Secured Obligations on a pari passu basis. 4.4.2 All decisions concerning the Security (including the enforcement and release thereof) shall be made by the Lenders or Required Lenders, as applicable, in accordance with Section 9.7 of this Agreement. 4.4.3 The Agent will also act as secured party (or, in Québec, hypothecary representative) to hold the Security granted pursuant to the Security Documents for the benefit of the Lenders and, by accepting the benefit of the Security, the Lenders will accept such appointment under the terms and conditions of this Agreement.
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Obligations Secured by the Security. Unless otherwise agreed by the Lenders among themselves, and except as provided in Section 6.1.2, the Security shall secure the following obligations pari passu with each other and in priority to any other debts, liabilities and obligations secured by the Security: (a) the Obligations; (b) the Intercompany Obligations to the extent they are assigned to the Agent for the benefit of the Lenders; (c) the present and future debts, liabilities and obligations of a Restricted Party to any Lender (collectively, the "Other Secured Obligations") under or in connection with (i) cash consolidation ("mirror netting") arrangements, credit cards and other transactions not made under this Agreement if it is agreed by the Restricted Parties and the Agent acting on the instructions of the Majority Lenders that such debts, liabilities and obligations shall be secured, and (ii) Swaps that: A. in the case of currency hedging transactions do not have a term of longer than 12 months and do not require delivery of an aggregate amount greater than US $75,000,000 or the equivalent amount in other currencies by all Restricted Parties under all such transactions that are outstanding at any time and otherwise comply with Section 10.6.1(d); B. in the case of interest rate hedging transactions, comply with Section 10.6.1(d); or C. are agreed to by the Agent acting on the instructions of the Majority Lenders. [Note: In Twelfth Amending Agreement the Agent (on the instructions of the Majority Lenders) agreed to CHC entering into a Swap with one or more Lenders. That consent was subsequently replaced by a consent of the Agent (on the instructions of the Majority Lenders) in a letter dated 27 April 2004. The Agent agreed to CHC entering into one or more Swaps with one or more Lenders, which shall constitute Other Secured Obligations, on the following terms:
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Related to Obligations Secured by the Security

  • Obligations Secured The obligations secured hereby are any and all obligations of the Company now existing or hereinafter incurred to the Secured Party, whether oral or written and whether arising before, on or after the date hereof including, without limitation, those obligations of the Company to the Secured Party under this Agreement, the Transaction Documents, and any other amounts now or hereafter owed to the Secured Party by the Company thereunder or hereunder (collectively, the "Obligations").

  • Obligations Under the Security Agreement The undersigned hereby agrees, as of the date first above written, to be bound as a Grantor by all of the terms and provisions of the Security Agreement to the same extent as each of the other Grantors. The undersigned further agrees, as of the date first above written, that each reference in the Security Agreement to an “Additional Grantor” or a “Grantor” shall also mean and be a reference to the undersigned.

  • The Obligations The security interest granted hereunder shall secure the payment of all indebtedness and the performance of all obligations of the Debtor to the Secured Party of every type and description, whether now existing or hereafter arising, fixed or contingent, as primary obligor or as guarantor or surety, acquired directly or by assignment or otherwise, liquidated or unliquidated, regardless of how they arise or by what agreement or instrument they may be evidenced, including without limitation all loans, advances and other extensions of credit and all covenants, agreements, and provisions contained in all loan and other agreements between the parties (the “Obligations”).

  • Security for Secured Obligations This Patent Security Agreement and the Security Interest created hereby secures the payment and performance of the Secured Obligations, whether now existing or arising hereafter. Without limiting the generality of the foregoing, this Patent Security Agreement secures the payment of all amounts which constitute part of the Secured Obligations and would be owed by Grantors, or any of them, to Agent, the other members of the Lender Group, the Bank Product Providers or any of them, whether or not they are unenforceable or not allowable due to the existence of an Insolvency Proceeding involving any Grantor.

  • The Security Agreement The security interest granted pursuant to this Trademark Security Agreement is granted in conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement and Grantor hereby acknowledges and affirms that the rights and remedies of the Collateral Agent with respect to the security interest in the Trademarks made and granted hereby are more fully set forth in the Security Agreement. In the event that any provision of this Trademark Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control unless the Collateral Agent shall otherwise determine.

  • Obligations Several Nothing contained in this Master AAU or any AAU constitutes you partners with the Manager or with the other Underwriters, and the obligations of you and each of the other Underwriters are several and not joint. Each Underwriter elects to be excluded from the application of Subchapter K, Chapter 1, Subtitle A, of the U.S. Internal Revenue Code of 1986. Each Underwriter authorizes the Manager, on behalf of such Underwriter, to execute such evidence of such election as may be required by the U.S. Internal Revenue Service.

  • Debt and Obligations Secured All property and Liens assigned, pledged or otherwise granted under or in connection with this Agreement (including, without limitation, those under Section 3.2 (Grant of Liens)) or any of the Financing Documents shall secure (a) the payment of all of the Obligations, and (b) the performance, compliance with and observance by the Borrower of the provisions of this Agreement and all of the other Financing Documents or otherwise under the Obligations.

  • Indemnity to the Security Agent (a) Each Obligor shall, on demand, indemnify the Security Agent and every Receiver and Delegate against any cost, loss or liability incurred by any of them: (i) in relation to or as a result of: (A) acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and appropriately authorised; (B) the taking, holding, protection or enforcement of the Finance Documents and the Transaction Security; (C) the exercise of any of the rights, powers, discretions, authorities and remedies vested in the Security Agent and each Receiver and Delegate by the Finance Documents or by law; (D) any default by any Transaction Obligor in the performance of any of the obligations expressed to be assumed by it in the Finance Documents; (E) any action by any Obligor which vitiates, reduces the value of, or is otherwise prejudicial to, the Transaction Security; and (F) instructing lawyers, accountants, tax advisers, surveyors or other professional advisers or experts as permitted under the Finance Documents. (ii) acting as Security Agent, Receiver or Delegate under the Finance Documents or which otherwise relates to any of the Security Property or the performance of the terms of this Agreement or the other Finance Documents (otherwise, in each case, than by reason of the relevant Security Agent’s, Receiver’s or Delegate’s gross negligence or wilful misconduct). (b) The Security Agent and every Receiver and Delegate may, in priority to any payment to the Secured Parties, indemnify itself out of the Charged Property in respect of, and pay and retain, all sums necessary to give effect to the indemnity in this Clause 14.6 (Indemnity to the Security Agent) and shall have a lien on the Transaction Security and the proceeds of the enforcement of the Transaction Security for all monies payable to it.

  • The Security Documents (a) None of the Collateral is subject to any Liens except Permitted Liens. (b) The security interests created under the Share Charge in favor of the Collateral Agent, as pledgee, for the benefit of the Secured Creditors, constitute perfected security interests in the Share Charge Collateral described in the Share Charge, subject to no security interests of any other Person. No filings or recordings are required in order to perfect (or maintain the perfection or priority of) the security interests created in the Share Charge Collateral under the Share Charge other than with respect to that portion of the Share Charge Collateral constituting a “general intangible” under the UCC. The filings on Form UCC-1 made pursuant to the Share Charge will perfect a security interest in the Collateral covered by the Share Charge to the extent a security interest in such Collateral may be perfected by such filings. (c) After the execution and registration thereof, the Vessel Mortgage will create, as security for the obligations purported to be secured thereby, a valid and enforceable perfected security interest in and mortgage lien on the Vessel in favor of the Collateral Agent (or such other trustee as may be required or desired under local law) for the benefit of the Secured Creditors, superior and prior to the rights of all third Persons (except that the security interest and mortgage lien created on the Vessel may be subject to the Permitted Liens related thereto) and subject to no other Liens (other than Permitted Liens related thereto). (d) After the execution and delivery thereof and upon the taking of the actions mentioned in the immediately succeeding sentence, each of the Security Documents will create in favor of the Collateral Agent for the benefit of the Secured Creditors a legal, valid and enforceable fully perfected first priority security interest in and Lien on all right, title and interest of the Credit Parties party thereto in the Collateral described therein, subject only to Permitted Liens. Subject to Sections 7.02, 8.04 and this Section 8.11 and the definition of “Collateral and Guaranty Requirements,” no filings or recordings are required in order to perfect the security interests created under any Security Document except for filings or recordings which shall have been made on or prior to the execution of such Security Document.

  • Subordination of Other Obligations Any Indebtedness of Borrower or any Guarantor now or hereafter held by any Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations, and any such Indebtedness collected or received by the Obligee Guarantor after an Event of Default has occurred and is continuing shall be held in trust for Administrative Agent on behalf of Beneficiaries and shall forthwith be paid over to Administrative Agent for the benefit of Beneficiaries to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision hereof.

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