Alternative Collateral definition

Alternative Collateral means Collateral having a Market Value equal to the Collateral delivered pursuant to paragraph 5 and provided by way of substitution in accordance with the provisions of paragraph 5.3;

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Alternative Collateral means Collateral of a Value equal to the Collateral delivered pursuant to Clause 6 and provided by way of substitution for Collateral originally delivered or previously substituted in accordance with the provisions of Clauses 6(F) or 6(G);

Alternative Collateral means Collateral of a value equal to or greater than the Collateral delivered pursuant to Clause 42 and provided by way of substitution for Collateral originally delivered or previously substituted in accordance with the provisions of Clause 42;

Examples of Alternative Collateral in a sentence

Borrower may from time to time call for the repayment of Cash Collateral or the redelivery of Collateral equivalent to any Collateral delivered to Lender prior to the date on which the same would otherwise have been repayable or redeliverable provided that at the time of such repayment or redelivery Borrower shall have delivered or delivers Alternative Collateral acceptable to Lender and Borrower is in compliance with paragraph 5.4 or paragraph 5.5, as applicable.
Borrower may from time to time call for the repayment of Cash Collateral or the Delivery of Collateral equivalent to any Collateral delivered to Lender prior to the date on which the same would otherwise have been repayable or deliverable provided that at or prior to the time of such repayment or Delivery Borrower shall have delivered Alternative Collateral acceptable to Lender and Borrower is in compliance with paragraph 5.4 or paragraph 5.5, as applicable.
At the time of such redelivery the Borrower shall deliver Alternative Collateral acceptable to the Lender.
Borrower, prior to the date of maturity of the Bank Instrument lent, may have delivered or delivers Alternative Collateral acceptable to Lender or cash in the amount of the aggregate market value of the lent Instrument on the same business day.
For avoidance of any doubt, the documentation relating to the Alternative Collateral shall be communicated to the Issuer upon request of the latter.
The Parties agree that the Issuer shall receive the Alternative Collateral additionally to the Pledged Shares, in case of Event of Default, if the sale of the Pledge Shares does not provide enough liquidity to reimburse the Loan.
The Parties agree that after the listing of the Borrower on the Nasdaq if the total market value of the Pledged shares held in the Escrow falls below twice the value of the Loan based on the last traded price in a recognized market, the Issuer shall receive the Alternative Collateral.
Therefore, the Parties Agree that the Alternative Collateral granted to the Issuer shall be a first rank mortgage.
For avoidance of any doubt, in this, case, the Parties agree the Alternative Collateral shall replace the Escrow to secure the Loan.
Notwithstanding anything to the contrary in this Agreement (i) any obligation of Lender to deliver Securities in respect of any Loan to Borrower is conditional upon Lender having received the Collateral agreed to be provided in respect of such Loan and (ii) any obligation of Lender to repay or deliver (as the case may be) Equivalent Collateral upon the termination of a Loan or upon the substitution of Alternative Collateral is conditional upon Lender verifying receipt of Equivalent Securities.

More Definitions of Alternative Collateral

Alternative Collateral means Collateral having a Collateral Value equal to the Collateral delivered pursuant to Condition 7 and provided by way of substitution for Collateral originally delivered or previously substituted in accordance with Condition 7.5 or 7.6;

Alternative Collateral means Collateral having a Market Value equal to the Collateral delivered pursuant to clause 4 and provided by way of substitution in accordance with the provisions of clause 4.3;

Alternative Collateral means Collateral of a value equal to or greater than the Collateral delivered pursuant to Clause 41 and provided by way of substitution for Collateral originally delivered or previously substituted in accordance with the provisions of Clause 41;

Alternative Collateral means either a bond or other ---------------------- collateral, in form, substance and amount reasonably satisfactory to ▇▇▇▇▇▇▇▇▇, securing payment by STS of all Contingent Secured Obligations.

Alternative Collateral means Collateral of a Value equal to the Collateral delivered pursuant to Clause 6 and provided by way of substitution for Collateral or Cash Collateral originally delivered or previously substituted in accordance with the provisions of Clauses 6(B), 6(C), 6(E) or 6(F);