Common use of Procedure for Investment Clause in Contracts

Procedure for Investment. (a) Unless held for the account of the Relevant Obligor and secured by first ranking fixed charge in favour of the Security Agent pursuant to a Transaction Security Document, the Relevant Obligors shall ensure that all Permitted Investments are made in the name of the Relevant Obligor and secured by a first ranking fixed lien in favour of the Security Agent in such form and on such terms as the Agent may reasonably require.

Procedure for Investment. (a) Unless held for the account of the Relevant an Obligor and secured by first ranking fixed charge in favour of the Security Agent pursuant to a Transaction Security Document, the Relevant Obligors shall ensure that all Permitted Investments are made in the name of the Relevant an Obligor and secured by a first ranking fixed lien security interest in favour of the Security Agent (which Security shall be in such form and on such terms as substance substantially similar to any fixed first ranking account Transaction Security or otherwise in form and substance reasonably satisfactory to the Agent may reasonably requireand the Security Agent).