Collateral. On the Amendment Effective Date, the payment obligations of the Issuer under the Notes and the payment obligations of the Guarantors under the Note Guarantees will be secured by Liens over the collateral as set forth in Annex 1 hereto (the "Collateral"), in each case subject to and in accordance with the Intercreditor Agreement. The Collateral shall be granted in favor of the Security Trustee for the benefit of the Noteholders and neither the Noteholders' Representative nor any Noteholder may directly and independently enforce or otherwise realize (verwerten) the Collateral. The Collateral also secures the payment obligations of the Issuer under the Reinstated 2022 Notes, the Super Senior Notes and the payment obligations of the Guarantors under the Note Guarantees as set out in the Intercreditor Agreement. The rights and duties of the Security Trustee and the relationship of the holders of the Secured Notes, in each case represented by their respective noteholders' representative, with regards to the Collateral are governed by the Intercreditor Agreement to which the Noteholders' Representative is a party. Any rights of the Noteholders under the Intercreditor Agreement are exercised by the Noteholders' Representative with effect for and against all Noteholders. The Collateral will be held, administered and enforced by the Security Trustee in accordance with the Intercreditor Agreement for the benefit of, inter alios, the holders of the Super Senior Notes, the holders of the Reinstated 2022 Notes and the Noteholders. Upon an enforcement of the Collateral in whole or in part, all net proceeds from such enforcement shall be applied in accordance with relevant provisions of the Intercreditor Agreement, which provides for a priority of the claims of the holders of the Super Senior Notes over the claims of the Noteholders and the holders of the Reinstated 2022 Notes with respect to such proceeds.
Collateral. TheKnot is entitled to collateral of normal type and scope for receivables even if they are conditional and limited.
Collateral. To cover the Issuer’s interest payment and redemption obligations under the Notes for the benefit of the Noteholders, all dividend claims of the Issuer against AustriaEnergy Spain, S.L.U- are pledged as first ranking security by way of a pledge agreement under Spanish law in favour of the Security Agent and the Noteholders (the Pfandvertrag nach spanischem Recht zugunsten des Sicherheitentreuhänders und der Anleihegläubiger verpfändet (die „Verpfändung“). Die Verpfändung erfolgt spätestens mit Wirkung zum 30. Juni 2023. Die Ansprüche aus der Verpfändung bestehen nur zugunsten des Sicherheitentreuhänders und der Anleihegläubiger, und nur nach Maßgabe der folgenden Absätze 4 und 5 sowie nur für den Fall, dass die Emittentin ihre Verpflichtungen auf Rückzahlung der Schuldverschreibungen und Zinszahlungen sowie die Zahlung von sonstigen Beträgen unter den Schuldverschreibungen nicht erfüllt. Die Verpfändung begründet keine Ansprüche, die selbständig neben dem Anspruch aus den Schuldverschreibungen gegen die Emittentin oder einen Dritten bestehen oder geltend gemacht werden können. “Pledge”). The Pledge shall be made with effect as of 30 June 2023 at the latest. Any claims arising from the Pledge shall exist only for the benefit of the Security Agent and the Noteholders and exclusively subject to paragraphs 4 and 5 below as well as subject to the proviso that the Issuer fails to comply with its obligations to redeem the Notes and pay interest and other amounts payable under the Notes. There shall be no claims under the Pledge that exist independently besides the claims arising from the Notes or claims that may be asserted separately against the Issuer or any third party.
Collateral. The obligations under the Notes will be secured by first-ranking pledges to the Security Agent over (i) all the shares of the Issuer, (ii) the Underlying Bonds (with the Issuer being authorized to collect any payments thereunder and otherwise deal with the Underlying Bonds in accordance with, and subject to the restrictions set forth in, these Terms and Conditions) and (iii) the bank accounts ("Pledged Accounts") of the Issuer (with the Issuer maintaining the sole signing rights in respect of its general accounts and the Security Agent and the Issuer having joint signing rights in relation to any other bank account of the Issuer, including the bank account holding the proceeds of the Notes) (together the "Collateral").