Examples of Bank Security Agreement in a sentence
Security over the Account Bank's rights in relation to the Custody Account and as against the Custodian will be granted by the Account Bank to the Issuer on terms set out in the Account Bank Security Agreement.
Pursuant to the Account Bank Security Agreement, the Security Trustee will be appointed as attorney for the Issuer to exercise all of the Issuer's rights under the Account Bank Security Agreement.
Charged Assets Under the Security Trust Deed, the Issuer will grant to theSecurity Trustee, among other things, an assignment by way of first fixed security of its rights, if any, in and to the credit balance from time to time of each Account, the security interests granted to it pursuant to the Account Bank Security Agreement and an assignment of its rights, if any, in respect of the Transaction Documents.
The Harbor Bank Security Agreement also required that Harbor Bank's security interest take priority over any other security interest, with the exception of any prior security interest held by Harbor Bank through another loan.
Elsewhere in the Amended Harbor Bank Security Agreement, Waterland expressly assigned to Harbor Bank the proceeds of any such insurance claim and "directs any insurer to make payments directly to [Harbor Bank]." Id. ,-r3(G).