Cession in Security definition

Cession in Security means the Cession in Security entered into or to be entered into among the Finance Parties and the Original Borrower before the Demerger Date pursuant to which the Original Borrower will cede in securitatem debiti all of its rights, title and interest in and to the Indemnity Agreement in favour of the Finance Parties, jointly and severally, as security for its obligations under the Finance Documents to which it is a party;
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Cession in Security means the Cession in Security Agreement concluded on or about 20 November 2013 between the Debt Guarantor and Accelerate pursuant to which Accelerate cedes in securitatem debiti its rights in and to the Lease Agreements, the Lease Payments, the Insurance Policies and the Insurance Proceeds (all as defined therein) to the Debt Guarantor as security for the obligations of Accelerate under the Counter Indemnity Agreement;
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Cession in Security means the cession in security agreement amongst the Security Agent, the Company and the Guarantors in terms of which the Company and the Guarantors cede in securitatem debiti the Secured Assets (as defined therein) in accordance with the terms of the agreement;
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Examples of Cession in Security in a sentence

  • Cession in Security Secured property consists of bank account, insurances, trade receivables and related rights to the preceding.

  • PSC is characterized by a risk of a number of malignancies (particularly cholangiocarcinoma and colorectal carcinoma), as well as a risk chronic liver disease and its sequelae; liver transplantation is the only definitive treatment for the condition.

  • Suretyships 42 Chapter 28: Mortgage, Pledge and Cession in Security 46 1.

  • Notwithstanding any term of this Agreement or any other Finance Document (save for the Cession in Security), nothing in this Agreement or in any Finance Document (save for the Cession in Security) will result in Pyramid BVI (whether as Guarantor, Borrower or otherwise) being liable to apply assets not located in South Africa in respect of this Agreement or under any other Finance Document (save for the Cession in Security).

  • This Subclause is subject to the payment of any claims having priority over the security under the Cession in Security Agreement.

  • South African Subordination Agreement and Cession in Security Agreement.....................................

  • The GFL Obligors consent to any splitting of claims that may arise pursuant to any cession, assignment and/or delegation effected in accordance with the provisions of the Senior Cession in Security and the Mezz SPV Reversionary Cession in Security..

  • The Obligors will not and will not permit any Subsidiary to amend, modify or waive any provision in the South African Subordination Agreement or the Cession in Security Agreement without prior written consent of the Required Holders.

  • The Parties shall use all reasonable endeavours to obtain the written consent of the Standard Bank of South Africa Limited to the entry by the parties into the Borrower Cession in Security in respect of the Proceeds Account and creation of the security cession pursuant thereto within 30 (thirty) days of the Transaction Implementation Date (the Initial Period).


More Definitions of Cession in Security

Cession in Security means the South African law governed cession in security agreement amongst, inter alios, the Intercreditor Agent, the Security SPV, the Management Company and each Mining Company, in terms of which each Mining Company and the Management Company cedes in securitatem debiti the rights in and to certain of its assets listed therein in accordance with the terms of that agreement (including, inter alia, onshore bank accounts, claims and receivables, insurance proceeds, cash and cash equivalents, certain offtake agreements and in respect of the Management Company, its proceeds account and amounts standing to the credit thereof).
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Cession in Security means the written agreement entitled “Cession in Security” to be concluded between Pyramid Freight SA and the Finance Parties pursuant to which Pyramid Freight SA cedes its rights in respect of the loan agreements listed in Schedule 1 thereto in favour of the Finance Parties as security for the obligations of Pyramid Freight SA under the Finance Documents.
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Cession in Security means the written agreement titled “Cession in Security”, with SAB (as cessionary) in terms of which, inter alia, the Company cedes in security to SAB, all of its rights, title and interests in and to the Company Account (as defined therein), as security for the payment and performance obligations or indebtedness at any time due, owing, scheduled or contracted to be paid, performed or incurred by the Company to SAB under or in connection with any Finance Document (as defined in the SAB Zenzele Kabili Preference Share Subscription Agreement); “CIPC” means the Companies and Intellectual Property Commission, established pursuant to section 185 of the Companies Act, or its successor body; “Codes” means the Codes of Good Practice on Broad-Based Black Economic Empowerment published by the Minister of Trade and Industry in terms of Section 9 of the BBBEE Act under Government Notice 1019 in Government Gazette 36928 of 11 October 2013 and Government Notice 408 in Government Gazette 38766 of 6 May 2015, as amended from time to time; “Common Monetary Area” means, collectively, South Africa, the Republic of Namibia and the Kingdoms of Lesotho and eSwatini; “Company Secretary” or “William Radcliffe” means Rilapax Proprietary Limited trading as William Radcliffe, a company incorporated in accordance with the laws of South Africa, under registration number: 2013/068456/07; “Companies Act” means the Companies Act, No. 71 of 2008, as amended from time to time; “Companies Regulations” means the Companies Regulations, 2011, as promulgated in terms of section 223 of the Companies Act, as amended from time to time; “Contribution Agreement” means the Contribution Agreement entered into between SAB Zenzele Kabili and SAB on or about 6 February 2020, in terms of which SAB agrees to contribute the Discount Shares to SAB Zenzele Kabili; “Controlled Client” means a controlled client of a JSE Member as contemplated under the JSE Equities Rules and Directives; “CSDP” means a central securities depository participant, being a “participant” as defined in section 1 of the Financial Markets Act; “Custody Entity” means the person designated by SAB from time to time to act in such capacity, the Custody Entity initially being Investec Share Plan Services Proprietary Limited; “Dematerialise” means the process whereby shares are recorded by electronic records of ownership in the Strate system in the sub-register of the Company maintained by a CSDP or broker, “Dematerialised” and “Dematerialisa...
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Cession in Security means the written agreement titled “Cession in Security”, with SAB (as
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Related to Cession in Security

  • Accession Letter means a document substantially in the form set out in Schedule 6 (Form of Accession Letter).

  • the obligors on a note means "the obligor or obligors on a note"). "Until [something occurs]" does not imply that it must occur, and will not be modified by the word "unless." The word "due" and the word "payable" are each used in the sense that the stated time for payment has passed. The word "accrued" is used in its accounting sense, i.e., an amount paid is no longer accrued. In the calculation of amounts of things, differences and sums may generally result in negative numbers, but when the calculation of the excess of one thing over another results in zero or a negative number, the calculation is disregarded and an "excess" does not exist. Portions of things may be expressed as fractions or percentages interchangeably.

  • Accession Deed means a document substantially in the form set out in Schedule 6 (Form of Accession Deed).

  • Property Loss Event means any loss of or damage to property of Group or any Subsidiary thereof that results in the receipt by such Person of proceeds of insurance in excess of $2,000,000 or any taking of property of Group or any Subsidiary thereof that results in the receipt by such Person of a compensation payment in respect thereof in excess of $2,000,000.

  • Additional First Lien Secured Party means the holders of any Additional First-Lien Obligations and any Authorized Representative with respect thereto, and shall include the Initial Additional First-Lien Secured Parties.

  • Guarantor Security Agreement means any security agreement executed by any Guarantor in favor of Agent securing the Obligations or the Guaranty of such Guarantor, in form and substance satisfactory to Agent.

  • Accession Agreement means an Accession Agreement substantially in the form of Annex I to the Guaranty.

  • Accession means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost.

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.

  • Insurance Add-On Amount means the premium charged to the Obligor in the event that the Servicer obtains Force-Placed Insurance pursuant to Section 4.4.

  • the London Bombings Relief Charitable Fund means the company limited by guarantee (number 5505072), and registered charity of that name established on 11th July 2005 for the purpose of (amongst other things) relieving sickness, disability or financial need of victims (including families or dependants of victims) of the terrorist attacks carried out in London on 7th July 2005;

  • Security Amount means an amount equal to:

  • Land Value means, at any time:-

  • Guarantor Subordinated Obligation means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Accession Number 20121026–5118. Comments Due: 5 p.m. e.t. 11/16/12. Docket Numbers: ER13–212–000.

  • LCR Security means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent under GAAP) within the meaning of Paragraph .32(e)(viii) of the final rules titled Liquidity Coverage Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014).

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Similar Security means a reference bond or reference bonds issued by the same issuer as the Reference Security having an actual or interpolated maturity comparable with the remaining term of the Notes that would be utilised, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the Notes.

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Security Value means the amount in Dollars (as certified by the Bank whose certificate shall, in the absence of manifest error, be conclusive and binding on the Borrowers and the Bank) which is, at any relevant time, the aggregate of (i) the market value of the Mortgaged Ships as most recently determined in accordance with clause 8.2.2 and (ii) the market value of any additional security for the time being actually provided to the Bank pursuant to clause 8.2;

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Property Value means the fair market value of the real property, as remediated, less

  • Loss Event means (A) an annual pre-tax loss at GS Inc. or (B) annual negative revenues in one or more reporting segments as disclosed in the Firm’s Form 10-K other than the Investing & Lending segment, or annual negative revenues in the Investing & Lending segment of $5 billion or more, provided in either case that you are employed in a business within such reporting segment.

  • Acceptable Collateral means: (i) a Letter of Credit; and/or (ii) a cash amount (in pounds) transferred to the credit of a Reserve Account;

  • Quasi-Security means an arrangement or transaction described in paragraph (b) below.

  • Discharge of First Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.