Provision of Collateral. 1.1 The BRP shall provide collateral ("Collateral") to eSett as security against the risk ("Counterparty Risk") that the BRP is unable to fulfill its obligations towards eSett in the Imbalance Settlement, such as the payment of outstanding and future Settlement Amounts, or any other obligations of the BRP in the Imbalance Settlement.
1.2 The BRP shall provide the collateral in the form of cash ("Cash Collateral") or on-demand guarantee issued by a financial institution ("On-Demand Guarantee"), or a combination thereof.
1.3 Any Cash Collateral shall be held on a cash account (“Collateral Account”) in a bank that fulfils eSett’s requirements and is approved by eSett for use in the Imbalance Settlement ("Settlement Bank"). Prior to the provision of Cash Collateral, the BRP shall pledge the Collateral Account to eSett and grant eSett unconditional and irrevocable disposal rights to the Collateral Account by signing a Pledged Cash Account Agreement, the terms of which shall be defined by eSett.
1.4 Any On-Demand Guarantee shall be unconditional, irrevocable and payable on first demand, and issued by a financial institution that fulfils eSett’s requirements and is approved by eSett for use in the Imbalance Settlement (“Guarantor”). The terms of the On-Demand Guarantee shall be defined by eSett. The On-Demand Guarantee shall be delivered to eSett for safekeeping.
1.5 Cash Collateral and On-Demand Guarantees provided by the BRP and meeting the requirements set out herein are collectively referred to as "Deposited Collateral".
1.6 Sufficient Deposited Collateral, as specified in this Appendix, shall be provided by the BRP for it to be entitled to act as a Balance Responsible Party.
1.7 If the Settlement Bank where the Cash Collateral is held or the Guarantor that has issued the On- Demand Guarantee no longer fulfils eSett’s requirements, including but not limited to eSett’s requirements on credit ratings, or if the Deposited Collateral becomes unenforceable for any reason, the BRP shall, when so demanded by eSett, without delay provide a new Collateral that meets the requirements set out herein.
Provision of Collateral. The Company is currently party to several convertible debentures issued to Cornell Capital Partners, LP, Xxxxxxx Xxxxxxx, and Xxxxxxx Xxxxxxxx ("Debenture Holders"). These debentures are currently secured by the stock of the DRVW Subsidiaries used in connection with the prior business of the Company. The Company shall use its best efforts to provide the Debenture Holders with sufficient collateral to obtain the release of the stock of the DRVW Subsidiaries used as collateral for the Debenture Holders.
Provision of Collateral. Subject to UBS’s rights under clause 10.2, Collateral which is required by UBS pursuant to clause 5, if provided to the Custodian, will be held by the Custodian as bare trustee for the Customer subject to the Security. Any other Collateral provided to UBS in accordance with clause 5 will be provided to UBS in accordance with the terms and conditions of the ASLA and with the Rules. Securities delivered by the Custodian to UBS under clause 10.2 will be deemed to be provided by the Customer to UBS in accordance with the terms and conditions of the ASLA and with the Rules. UBS will become the legal and beneficial owner of those securities upon taking delivery of them from the Custodian.
Provision of Collateral. Subject to Global Prime’s rights under clause 11.2, Collateral if provided to the Custodian, will be held by the Custodian as bare trustee for Client subject to the Security. Securities delivered by the Custodian to Global Prime under clause 11.2 will be deemed to be provided by Client to Global Prime in accordance with the MSLA and with the Rules. Global Prime will become the legal and beneficial owner of those securities upon taking delivery of them from the Custodian.
Provision of Collateral. 6.1.1. The Guarantee shall be issued against the Collateral unless the Parties have agreed otherwise.
6.1.2. The following shall serve as the Collateral for the Guarantee:
6.1.2.1. Right of claim pledge agreement over Cover Amount;
6.1.2.2. other security agreed by the Parties.
Provision of Collateral. 1.1. The Borrower agrees to provide the Collateral and create the first priority mortgage with the maximum secured amount over the Collateral in favor of the Collateral Agent. The Detailed Terms and Conditions of Land and Building Mortgage Agreement (in the form of Exhibit 7), Detailed Terms and Conditions of Building Mortgage Agreement (in the form of Exhibit 8), and Chattel Mortgage Agreement (in the form of Exhibit 9) contained herein shall be used for the filing for registration or creation of, in favor of the Collateral Agent, the first priority mortgage with the maximum secured amount over the real estate, and the first priority mortgage with the maximum secured amount over the chattel.
Provision of Collateral. As continuing collateral and security to secure the full, final and complete payment of all the Secured Obligations and the Gazit Canada Secured Obligations owing and/or which may be owed by the Borrower or any other Obligor to the Lender (including all commissions and costs, to the extent included in the Secured Obligations or the Gazit Canada Secured Obligations), the Borrower shall procure the provision of the Collateral as contemplated under the Security Documents as referred to in clauses 1.1.81(a)-(k) (inclusive) above.
Provision of Collateral. Each BRP shall provide collateral securing the imbalance settlement. The collateral shall be posted to eSett Oy in accordance with the Imbalance Settlement Agreement. Statnett may demand extraordinary collateral from the BRP within the existing collateral regime handled by eSett Oy.
Provision of Collateral. The Borrower’s debt, obligations and liabilities under the Finance Documents shall be secured by the Collateral. The Collateral shall be documented to the satisfaction of the Bank.
Provision of Collateral. If the repayment of the loan specified in Article 2 or the payment of interest specified in Article 3 is not made, Party B shall provide collateral equivalent to the loan amount to Party A in the manner requested by Party A, with all related costs to be borne by Party B.
