Qualifying Additional Security Sample Clauses

Qualifying Additional Security. (a) Any "Qualifying Additional Security" as defined in the Participation Agreement (P1).
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Qualifying Additional Security. By May 30th and November 30th of each year during the Facility Sublease Term, Oglethorpe will provide the Owner Participant and RMLC with a certificate of a Responsible Officer setting forth (a) a computation in accordance with GAAP as of a date no more than 60 days prior to May 30 or November 30, as the case may be, of Oglethorpe's then current assets minus its current liabilities, defined as the difference between (1) cash, marketable securities (including cash or marketable securities then held by consolidated subsidiaries of Oglethorpe to the extent they exceed the sum of claims against such consolidated subsidiaries not fully economically defeased), accounts receivable that are due and payable within 30 days of such computation and not overdue and lines of credit then available to pay current liabilities and (2) current liabilities due and payable or to be due and payable within 30 days of the date of such computation (the "Liquidity Amount"), (b) whether the Oglethorpe Mortgage Bonds are then rated at least mid-"B" investment grade ("BBB" by S&P, "Baa2" by Xxxxx'x and "BBB" by Fitch's) by at least two of such rating services and (c) whether its senior long-term unsecured indebtedness, if any and if rated, is then rated at least investment grade ("BBB-" by S&P, "Baa3" by Xxxxx'x, "BBB-" by Fitch's) by at least two of such rating services. If (x) as of such a date of computation set forth in any such certificate, the Liquidity Amount shall not equal or exceed $50,000,000 or (y) at any time the Oglethorpe Mortgage Bonds shall not be rated at least the above-described mid-"B" investment grade by at least two of such three rating services or (z) at any time the senior long-term unsecured indebtedness, if any and if rated, of Oglethorpe shall not be rated at least such above-described investment grade by at least two of such three rating services, Oglethorpe shall, within 60 days of the receipt of a request from the Owner Participant (with respect to Oglethorpe's obligations under the Head Lease) or RMLC (with respect to Oglethorpe's obligations under the Facility Sublease), provide additional security ("Qualifying Additional Security") for its obligations under the Head Lease and the Facility Sublease in accordance with this Section 8.8. Qualifying Additional Security shall consist of surety bonds issued by a Qualifying Surety Bond Provider or a Qualifying Letter of Credit in favor of the Co-Trustee and the Owner Participant (in the case of Qualifying Add...
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Related to Qualifying Additional Security

  • Additional Security This guarantee is in addition to and is not in any way prejudiced by any other guarantee or security now or subsequently held by any Finance Party.

  • Valuation of additional security For the purpose of this clause 8.2, the market value of any additional security provided or to be provided to the Bank shall be determined by the Bank in its absolute discretion without any necessity for the Bank assigning any reason thereto.

  • Further Assurances; Additional Security (a) Execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements, fixture filings, Mortgages and other documents and recordings of Liens in stock registries), that may be required under any applicable law, or that the Collateral Agent may reasonably request, to satisfy the Collateral and Guarantee Requirement and to cause the Collateral and Guarantee Requirement to be and remain satisfied, all at the expense of the Loan Parties and provide to the Collateral Agent, from time to time upon reasonable request, evidence reasonably satisfactory to the Collateral Agent as to the perfection and priority of the Liens created or intended to be created by the Security Documents.

  • Agreement Not to Offer or Sell Additional Securities During the period commencing on the date hereof and ending on the Closing Date, the Company will not, without the prior written consent of the Representatives (which consent may be withheld at the sole discretion of the Representatives), directly or indirectly, sell, offer, contract or grant any option to sell, pledge, transfer or establish an open “put equivalent position” within the meaning of Rule 16a-1(h) under the Exchange Act, or otherwise dispose of or transfer, or announce the offering of, or file any registration statement under the Securities Act in respect of, any debt securities of the Company similar to the Notes or securities exchangeable for or convertible into debt securities similar to the Notes (other than as contemplated by this Agreement with respect to the Notes).

  • Organizational Security (a)Responsibility - State Street shall assign responsibility for information security management to senior personnel only.

  • Additional Securities If such Pledgor shall receive by virtue of its being, becoming or having been the owner of any Pledged Collateral, any (i) certificate, including without limitation, any certificate representing a dividend or distribution in connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares or membership or equity interests, stock splits, spin-off or split-off, promissory notes or other instrument; (ii) option or right, whether as an addition to, substitution for, or an exchange for, any Pledged Collateral or otherwise; (iii) dividends payable in securities; or (iv) distributions of securities or other equity interests in connection with a partial or total liquidation, dissolution or reduction of capital, capital surplus or paid-in surplus, such Pledgor shall receive such certificate, instrument, option, right or distribution in trust for the benefit of the Administrative Agent, shall segregate it from such Pledgor’s other property and shall deliver it forthwith to the Administrative Agent in the exact form received together with any necessary endorsement and/or appropriate stock power duly executed in blank, substantially in the form provided in Exhibit 4(a), to be held by the Administrative Agent as Pledged Collateral and as further collateral security for the Secured Obligations.

  • Issuance of Additional Securities Such Grantor will not permit or suffer the issuer of an Equity Interest constituting Pledged Collateral owned by it to issue additional Equity Interests, any right to receive the same or any right to receive earnings, except to such Grantor.

  • Additional Security Documents If at any time requested by the Agent or the Required Banks, the Borrowers shall execute and deliver such additional documents, and shall take such other action, as the Agent or the Required Banks may reasonably consider necessary or proper to evidence or perfect the liens and security interests described in Section 5.1 hereof.

  • Additional Security Deposit No additional security deposit shall be required in connection with this Amendment.

  • Accrual of Additional Interest (i) If, at any time during the six (6) month period beginning on, and including, the date that is six (6) months after the Last Original Issue Date of any Note,

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