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.
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. 6.1.1. The Guarantee shall be issued against the Collateral unless the Parties have agreed otherwise.
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. 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. 21.1.1. 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. 21.1.2. Among the Collateral, the land, building and affiliated facilities shall be appraised based on the amounts stated in the appraisal report issued by professional appraisal firms recognized by the Facility Agent. The secured loan value for land shall be calculated based on eighty percent (80%) of the appraised value deducted by the land value increment tax based on the announced current land value, and that for building and affiliated facilities shall be calculated based on eighty percent (80%) of the appraised value deducted by depreciation. The first priority mortgage with the maximum secured amount over the abovementioned Collateral shall be created in favor of the Collateral Agent based on the appraised value within ten (10) Bank Business Days from the First Drawdown Date (or within the period agreed on by the Collateral Agent). 21. Collateral 21.1.
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. (a) THE GUARANTORS AGREE THAT THEY WILL FROM TIME TO TIME, AT THE REQUEST OF BBL, PROVIDE TO BBL THE GUARANTORS' MOST RECENT AUDITED AND UNAUDITED BALANCE SHEETS AND RELATED STATEMENTS OF INCOME AND CASH FLOWS (PREPARED ON A CONSOLIDATED BASIS WITH EACH GUARANTOR'S SUBSIDIARIES, IF ANY) AND SUCH OTHER INFORMATION RELATING TO THE BUSINESS AND AFFAIRS OF THE GUARANTORS AS BBL MAY REASONABLY REQUEST. THE GUARANTORS AGREE TO DO ALL SUCH THINGS AND EXECUTE ALL SUCH DOCUMENTS AS BBL MAY REASONABLY CONSIDER NECESSARY OR DESIRABLE TO GIVE FULL EFFECT TO THIS GUARANTY AND TO PERFECT AND PRESERVE THE RIGHTS AND POWERS OF BBL HEREUNDER. THE GUARANTORS ACKNOWLEDGE AND CONFIRM THAT THE GUARANTORS THEMSELVES HAVE ESTABLISHED THEIR OWN ADEQUATE MEANS OF OBTAINING FROM THE FRANCHISEE ON A CONTINUING BASIS ALL INFORMATION DESIRED BY THE GUARANTORS CONCERNING THE FINANCIAL CONDITION OF THE FRANCHISEE AND THAT THE GUARANTORS WILL LOOK TO THE FRANCHISEE AND NOT TO BBL IN ORDER FOR THE GUARANTORS TO KEEP ADEQUATELY INFORMED OF CHANGES IN THE FRANCHISEE'S FINANCIAL CONDITION.
Provision of Collateral. (a) The Guarantors agree that they will from time to time, at the request of BBL, provide to BBL the Guarantors' most recent audited and unaudited balance sheets and related statements of income and cash flows (prepared on a consolidated basis with the Guarantor's subsidiaries, if any) and such other information relating to the business and affairs of the Guarantors as BBL may reasonably request. The Guarantors agree to provide BBL promptly after the execution and delivery of this Guaranty, with a list of Franchisees who the Guarantors believe qualify as Approved Franchisees in accordance with the criteria set forth on the attached EXHIBIT D and to update such list from time to time to keep BBL informed of any additions and deletions of Franchisees who meet such requirements. The Guarantors also agree to do all such things and execute all such documents as BBL may reasonably consider necessary or desirable to give full effect to this Guaranty and to perfect and preserve the rights and powers of BBL hereunder. The Guarantors acknowledge and confirm that the Guarantors themselves have established their own adequate means of obtaining from the Approved Franchisees on a continuing basis all information desired by the Guarantors concerning the financial condition of the Approved Franchisees and that the Guarantors will look to the Approved Franchisees and not to BBL in order for the Guarantors to keep adequately informed of changes in the Approved Franchisees' financial condition.
Provision of Collateral. 20. The Customer expressly understands and acknowledges that the Company has prescribed measures in minimising risk as to its business of agency/brokerage in trading of Securities; as a consequence, the Company may require the Customer to place a collateral. In the event the Customer shall place a promissory note(s), money, negotiable certificate of deposits issued by financial institutions, cash deposits in commercial banks, investment units, Securities, or any other collateral of the similar nature against its obligations hereunder, the Customer expressly understands and acknowledges that the Company’s acting as a coordinator with those financial institutions, commercial banks or any other relevant entities only provides convenience for the Customer to place such collateral and the Customer shall consider and assume its own risks in placing such collateral. Notwithstanding any procurement of collateral by the Customer, the Company shall have the rights to consider such collateral as to be provided by the Customer.
