Security Trust. 17 21. AMENDMENT, WAIVER AND SEVERABILITY.............................. 17 22. MISCELLANEOUS................................................... 18 23. ASSIGNMENT...................................................... 18 24. NOTICES......................................................... 19 25.
Security Trust. 4 3. Creation of Master Issuer Security...................................4 4.
Security Trust. 5 3. Creation of Funding 2 Security ......................................................................................................... 6 4.
Security Trust. (a) Each of the Secured Parties has irrevocably appointed the European Collateral Agent to act as its trustee in connection with this Debenture.
Security Trust. If (x) all of the Obligations and all other obligations secured by the Loan Documents have been fully and finally discharged and (y) none of the Lenders is under any commitment, obligation or liability (actual or contingent) to make advances or provide other financial accommodation to any Loan pursuant to the Loan Documents the trusts set out in this Agreement and the U.K. Security Documents in relation to the U.K. Security Documents shall be wound up and the Administrative Agent shall release, without recourse or warranty, all of the Liens created under the U.K. Security Documents and the rights of the Administrative Agent under each of the U.K. Security Documents. (b) U.K. Powers Supplemental. Solely with respect to the U.K. Security Documents, the rights, powers and discretions conferred upon the Administrative Agent by this Agreement in respect of the U.K. Security Documents shall be supplemental to the Trustee Xxx 0000, and the Trustee Xxx 0000 and the Trusts (Scotland) Xxx 0000 and in addition to any which may be vested in the Administrative Agent by general law or otherwise. (c) U.K.
Security Trust. Definitions
Security Trust. (i) Establishment of the Trust Account. Within thirty (30) calendar days of the Company’s delivery to the Reinsurer of an Election Notice requiring that the Reinsurer secure the Reinsured Liabilities ceded by the Company with a Security Trust, the Reinsurer shall execute the Security Trust Agreement and deposit into an account with the Trustee (the “Security Trust”), naming the Company as the sole beneficiary thereof, assets having a market value in an amount no less than the Required Balance, for the purpose of securing the Reinsured Liabilities under Secured Policies. The Security Trust Agreement shall be substantially in the form of Exhibit B hereto.
Security Trust. The Security Agent accepts its appointment under Clause 23.1 (Appointment of the Agent and the Security Agent) as trustee of the Trust Property (as defined in Clause 23.1.3) and shall hold the Trust Property with effect from the date of this Agreement on trust for itself and the other Finance Parties on and subject to the terms set out in the Finance Documents.
Security Trust. The ABL Agent holds the benefit of this Deed on trust for the Secured Parties on the terms of this Deed and the other Loan Documents.
Security Trust. The Collateral Trustee holds the benefit of this Deed on trust for the Secured Parties on the terms of the Collateral Trust Agreement, this Deed and the other Priority Lien Documents.
