Security for Guarantee. The Guarantor acknowledges that this Guarantee is intended to secure payment of the Guaranteed Obligations and that the payment of the Guaranteed Obligations and the other obligations of the Guarantor under this Guarantee are secured pursuant to the terms and provisions of the Guarantor Security Documents.
Security for Guarantee. As security for the obligation of the Builder to remedy defects under Article 10.3(a) or to reimburse the Owner for replacement or repair expenses under Article 10.3(b), Builder shall deliver to Owner a bank guarantee, in a form and with a first class bank reasonably acceptable to Owner, in the amount of five percent (5%) of the Contract Price of the Vessel. Such warranty bank guarantee shall be delivered to Owner on or before the Delivery Date and shall be effective for a term of the Guarantee Period plus six months from the expiration of the Guarantee Period. Owner may refuse to accept delivery of the Vessel and make the final installment payment unless and until Builder delivers said warranty bank guarantee.
Security for Guarantee. The Guarantor authorizes the Administrative Agent, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security Documents, (a) to take and hold security for the payment of this Guarantee Agreement and the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (b) to apply such security and direct the order or manner of sale thereof as the Administrative Agent in its reasonable discretion may determine in accordance with the other Financing Documents and (c) to release or substitute any one or more endorsees, other guarantors or other obligors. The Administrative Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy available to it against the Borrower, any Other Credit Party or the Guarantor, or any security, without affecting or impairing in any way the liability of the Guarantor hereunder, except to the extent the Guaranteed Obligations have been indefeasibly paid in full in cash.
Security for Guarantee. 4.1 This Guarantee is secured by the Circus Deeds of Trust pertaining to the real and personal property described therein (the “Collateral”). In the event that the Enforcement Collateral Agent exercises its rights with respect to the Collateral as provided herein and in the Circus Deeds of Trust, the parties agree, without in any manner limiting the scope of this Completion Guaranty or the rights in the Collateral, that the proceeds of the Collateral shall be deemed to be applied first to satisfy Completion Guarantor’s obligations under this Guarantee with respect to the first $300,000,000 of Completion Costs required to be paid under the provisions of this Guarantee and then, to satisfy the remaining Completion Costs. Without limiting the generality of the other provisions of this Guarantee, in the event of the occurrence of any event of default under the Circus Deeds of Trust that, in the reasonable judgment of the Enforcement Collateral Agent, impairs the value of the Collateral in an amount not less than $25,000,000, the Beneficiaries shall be deemed to have an accelerated obligation under this Guarantee in the amount of the Enforcement Collateral Agent’s estimate of Completion Guarantor’s liability under this Guarantee (which in no circumstances shall be less than (a) $300,000,000 prior to the final resolution, whether via adjudication pursuant to a final and nonappealable order or judgment of a court of competent jurisdiction, payment, or settlement, of all claims at issue in the Perini Lawsuit (“Perini Lawsuit Resolution”) and (b) $50,000,000 subsequent to the Perini Lawsuit Resolution), and the Enforcement Collateral Agent shall be entitled, but not obligated, and may act (or refrain from acting) as it determines in its sole and absolute discretion, to pursue a foreclosure of the Circus Deeds of Trust (and/or any of them or any combination of them) if the Release of the Circus Deeds of Trust has not occurred and/or to pursue any other rights, powers, and/or remedies under the Circus Deeds of Trust (if the Release of the Circus Deeds of Trust has not occurred), this Guarantee, and/or applicable law.
4.2 Upon the final resolution, whether by adjudication pursuant to a final and nonappealable order or judgment of any court of competent jurisdiction, payment, or settlement of (a) all Pending Mechanics Lien Claims, (b) all Other Pending Construction Claims, and (c) all Remaining Construction Costs, Completion Guarantor may obtain the release of the Circ...
Security for Guarantee. Each Canadian Guarantor party hereto authorizes the Collateral Agent in accordance with the terms and subject to the conditions set forth in the Collateral Documents, (i) to take and hold security consisting of Collateral for the payment of the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (ii) to apply such security and direct the order or manner of sale thereof as the Collateral Agent in its sole discretion may determine and (iii) to release or substitute any one or more endorsees, other Canadian Guarantors or Other Loan Parties, in each case, as set forth in any Loan Document. The Collateral Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Collateral Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy available to it against any Loan Party, or any security, without affecting or impairing in any way the liability of any Canadian Guarantor hereunder.
Security for Guarantee. This Agreement secures, and the Collateral is security for, the indefeasible payment in full when due, whether at stated maturity, by acceleration or otherwise, and performance of all obligations, whether now or hereafter existing, of the Guarantors pursuant to the guarantee set forth in Article I hereto, whether for principal, premium, interest, fees, expenses, or otherwise.
Security for Guarantee. The Guarantor acknowledges that the payment of the Obligations is also secured pursuant to the terms and provisions of the Security Documents.
Security for Guarantee. The Guarantor authorizes the Administrative Agent, in accordance with the terms and subject to the conditions set forth in the Collateral Documents, (a) to take and hold security for the payment of this Agreement and the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (b) to apply such security and direct the order or manner of sale thereof as the Administrative Agent in its sole discretion may determine and (c) to release or substitute any one or more endorsees, other guarantors or other obligors. The Administrative Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Collateral Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy available to it against any Credit Party, or any security, without affecting or impairing in any way the liability of the Guarantor hereunder, except to the extent the Guaranteed Obligations have been indefeasibly paid in full in cash.
Security for Guarantee. 11 Section 3.14 Right of Set-off...................................... 11 Section 3.15 Interest Act (Canada)................................. 11 Section 3.16
Security for Guarantee. (a) To secure the prompt and timely payment and performance of Guarantor’s obligations hereunder, (I) Guarantor hereby grants and conveys to Lender a first priority continuing security interest in and lien upon all now owned and hereafter acquired (i) Accounts and all rights of Borrower to receive payment or any other consideration including, without limitation, pursuant to invoices, contract rights, leases, accounts receivable, general intangibles, choses‑in‑action, notes, drafts, acceptances, instruments, and all other debts, obligations and liabilities in whatever form owing to Borrower from any Person, and all of Borrower’s rights to receive payments for goods sold (whether delivered, undelivered, in transit or returned) or assets leased or services rendered (whether or not earned by performance), which may be represented thereby, or with respect thereto, and all property pledged as collateral security for any of the foregoing, and all rights as an unpaid vendor (including stoppage in transit, replevin or reclamation), and all additional amounts due from any Account Debtor, whether or not invoiced, (ii) Chattel Paper, (iii) Commercial Tort Claims, (iv) Deposit Accounts and Securities Accounts, (v) Documents, (vi) Electronic Chattel Paper, (vii) Equipment and all other equipment, machinery, furniture, computer equipment, telephone equipment, molds, tools, dies, partitions, tooling, transportation equipment, rolling stock, all other tangible assets used in connection with the manufacture, sale or lease of goods or rendition of services, and Borrower’s interests in any leased equipment, and all repairs, modifications, alterations, additions, controls and operating accessories, attachments and parts thereof or thereto, and all substitutions and replacements therefor, (viii) Farm Products, (ix) General Intangibles, (x) Fixtures, (xi) Goods, (xii) Instruments, (xiii) Inventory, (xiv) Investment Property, (xv) letters of credit and Letter-of-Credit Rights, (xvi) money, (xvii) Payment Intangibles, (xviii) Promissory Notes, (xix) Securities, (xx) Software, (xxi) Tangible Chattel Paper, and all products and Proceeds of the foregoing, including but not limited to, all insurance proceeds (which property, assets and Proceeds as described in (I) of this Section 21 are referred to herein collectively as the “Guarantor Personal Property Collateral”), and (II) pursuant to the Mortgages, Guarantor has granted a first priority continuing lien and security interest in the...
