Purpose of Security Clause Samples

Purpose of Security. (1) The securities included in this pool contract shall serve as collateral of all existing, future and contingent claims which the banks, including all their domestic and foreign branch offices, on the basis of the respective bank business relations as well as the foreign banking subsidiaries on the basis of the granting of credits pursuant to § 1 (1, 2), are entitled to claim from the firm. (2) In case the borrower assumed the liability for the liabilities of another customer of the respective bank (for instance as a guarantor), the respective security will only secure the debt resulting from the assumption of the liability from its due date on and only if the firm is also the party providing security at the same time.

Purpose of Security. 8.1 The Security Interest over the Security is granted for the purpose of securing the Trustee Claim. 8.2 The Trustee herewith acknowledges the existence of the security purposes agreements (Sicherungszweckabrede) entered into between the relevant Debtors and the Originator in connection with the Related Collateral relating to a Loan Agreement and undertakes to the Debtors in their capacity as security providers by way of a contract for the benefit of a third party pursuant to Section 328 para. 1 BGB (Vertrag zugunsten Dritter) to exercise its rights under the Related Collateral relating to a Loan Agreement as well as the rights and claims arising from the Purchased Receivables which qualify as Loan Receivables and the related Loan Agreements only if and to the extent permitted by the contractual arrangements (in particular the security purpose agreements) entered into between the Originator and the Debtors. 8.3 The Security Interest over the Swap Collateral Accounts secures the Trustee Claim only to the extent equivalent to the Issuer's claim to amounts (and securities) standing to the credit thereto pursuant to the terms of the Swap Agreements.

Purpose of Security. Each Security Interest over the Security Assets is granted for the purpose of securing the Trustee Claim. The Security Interest over the Related Collateral is subject to the security purpose agreement (Sicherungszweckvereinbarung) existing between the relevant Lessee and the Originator.

Purpose of Security. The Security is to be provided and maintained by the Interconnecting Party for the purpose of ensuring the due and proper performance by the Interconnecting Party of all of its obligations under this Agreement, and to allocate to the Interconnecting Party the risk in respect of claimed entitlements of SEA Gas under or in connection with this Agreement pending resolution of any claim or dispute in relation to such entitlement.

Purpose of Security. The security interests granted hereunder are granted to the Security Trustee only and for the purpose of securing the Aggregate Security Trustee Claim.

Purpose of Security. (a) The purpose of this clause 14 is to allocate the risk pending determination of any disputed entitlement and therefore nothing in this clause 14 confers a substantive right on the Council to avoid returning the General Security or the Defects Liability Security (or the value of any such security) it is not otherwise entitled to. (b) The Council is to hold: (i) the General Security as security for the Developer performing its obligations under this Agreement, and (ii) the Defects Liability Security as security for the Developer performing its obligations relating to the Defects Liability Period.

Purpose of Security. (1) The securities offered by WGMH according to Section 2 (1) and (2) as well as any other further securities offered by WGMH which are incorporated into this pool contract according to "2 (5) and (6) serve as securities against all existing, future and conditional claims which may be accorded to the banks and all their domestic and foreign branches from each corresponding business contact as well as the credit institutions referred from the provision of credit according to Section 1 (1, 2) as well as to cover and claims against WGR that ▇▇▇▇▇ might make based on the indemnity bond as mentioned in Section 1 (5). (2) The securities offered by WGMH according to Section 2 (3) a), b), c), d), e), (4) a) as well as any other securities offered by WGR which are incorporated into this pool contract according to Section 2 (5) and (6) serve equally as security for all existing, future and conditional claims by: -the banks from the credits provided according to Section 1 (1, 2) against the companies -the pool leaders from the redemption loan according to Section 1