Permitted Security Sample Clauses

Permitted Security. For the avoidance of doubt, nothing in this Section 2 (Creation of Security) will prevent the Grantors from permitting to subsist or granting any other Permitted Security.

Permitted Security amend the definition of “Permitted Security Interest” to include Security Interests in addition to the existing “Permitted Security Interests” on (a) proceeds from the offering of any debt securities or other Financial Indebtedness (and accrued interest thereon) paid into escrow accounts with an independent escrow agent on the date of the applicable offering or incurrence pursuant to escrow arrangements that permit the release of amounts on deposit in such escrow accounts upon satisfaction of certain conditions or the occurrence of certain events for the benefit of the related holders of debt securities or other Financial Indebtedness (or the underwriters or arrangers thereof) or (b) cash set aside at the time of the incurrence of any Financial Indebtedness or government securities purchased with such cash, in either case, to the extent such cash or government securities prefund the payment of interest on such Financial Indebtedness and are held in escrow accounts or similar arrangement to be applied for such purpose.

Permitted Security amend the definition of “Permitted Security Interest” to include in addition to the existing “Permitted Security Interests”: (a) Security Interests on receivables and any assets related thereto including, without limitation, all Security Interests securing such receivables, all contracts and all guarantees or other obligations in respect of such accounts receivable, the proceeds of such receivables and other assets which are customarily transferred, or in respect of which Security Interests are customarily granted, in connection with asset securitisations involving receivables and any hedging obligations entered into by any member of the Group in connection with such receivables that arise in connection with an asset securitisation programme or receivables factoring transactions, and Security Interests on investments in Asset Securitisation Subsidiaries; (b) Security Interests in respect of (i) any facilities or services related to cash management, cash pooling, treasury, depository, overdraft, credit or debit card, p-cards (including purchasing cards or commercial cards), electronic funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade financial services or other cash management and cash pooling arrangements and (ii) daylight exposures of the Group in respect of banking and treasury arrangements entered into in the ordinary course of business; (c) Security Interests on Cash, Cash Equivalents or other property arising in connection with the defeasance, discharge or redemption of indebtedness; provided that such defeasance, discharge or redemption is permitted hereunder; (d) Security Interests or any other matters of record that have been placed by any government, statutory or regulatory authority, developer, landlord or other third party on property or assets over which any member of the Group has easement rights or on any leased property and subordination or similar arrangements relating thereto (including, without limitation, the right reserved to or vested in any governmental authority by the terms of any lease, license, franchise, grant or permit acquired by that member of the Group or by any statutory provision to terminate any such lease, license, franchise, grant or permit, or to require annual or other payments as a condition to the continuance thereof); (e) any Security Interest in respect of any condemnation or eminent domain p...

Permitted Security. (a) At paragraph (k) of the definition of Permitted Security Interest in Clause 1.1 (Definitions), insert the words “or any Refinancing Indebtedness in respect of such Finance Leases, sale and leaseback arrangements or Vendor Financing Arrangements” after reference to “Clause 21.13(b)(xviii) (Restrictions on Financial Indebtedness)”.

Permitted Security amend Clause 23.8 (Negative Pledge) as follows: a. add the words “after the relevant goods were or are to be acquired or the relevant services were or are to be supplied, or after the relevant invoice date” at the end of Paragraph (b)(v); and b. in Paragraph (b)(xviii) thereof, permit the Company to secure Financial Indebtedness on a pari passu or junior-ranking basis provided that the Senior Net Debt to Annualised EBITDA ratio would not be greater than 4.50:1.00.

Permitted Security. Tenant shall provide the Security Deposit to Landlord in the form of one or more letters of credit (“LC”) meeting the criteria set forth in Section 3(E)(7) (“Permitted Security”); provided that, the aggregate number of LCs forming a part of the security Deposit shall at no time exceed four (4). Tenant shall immediately notify Landlord in writing if Tenant acquires actual knowledge (from a source other than Landlord) that any LC provided to Landlord no longer constitutes Permitted Security.

Permitted Security. For the avoidance of doubt, nothing in this Agreement will prevent the Pledgor from permitting to subsist or granting any other security interest in the Collateral under the Membership Interests First Lien Pledge Agreement.

Permitted Security. The Issuer shall not and shall cause each of its Subsidiaries not to create or permit to exist any Encumbrance on any property, revenues or other assets, present or future, of the Issuer, except for (collectively, the “Permitted Security”): (a) the Security; (b) Encumbrance to secure any Financial Debt of the Issuer permitted to be availed under the terms of this Deed and availed in the ordinary course of business; (c) any tax or other Encumbrance arising by operation of Law while the obligation underlying that the Encumbrance is not yet due, or if due, is being contested in good faith by appropriate proceedings and so long as the Issuer has set aside adequate reserves sufficient to promptly pay in full any amounts that the Issuer may be ordered to pay on final determination of any such proceedings; and (d) Encumbrance which the Issuer is required to constitute with or in favor of any Authority pursuant to the Financial Regulations and other statutory preferences which are generally applicable to non-banking financial institutions.

Permitted Security. Notwithstanding any other provision of the Loan Documents, any reference in any of the Loan Documents to a Lien which is permitted thereunder is not intended to subordinate or postpone, and shall not be interpreted as subordinating or postponing, or as any agreement to subordinate or postpone, any Lien created by any of the Loan Documents to any Lien permitted thereunder.