Closing Security definition

Closing Security means the unconditional, irrevocable, on-demand bank guarantee or letter of credit (and any replacement guarantee or letter of credit) in favour of the Government in a form reasonably acceptable to the Government on or before signing of this Agreement and issued by a financial institution acceptable to the Government in an amount of [redacted information], to secure the Concessionaire's obligation under Clause 2.2 and the Concessionaire’s obligation to achieve the Effective Date and otherwise satisfy the conditions set forth in Clause 2.2 that the Concessionaire is responsible for, by the Required Effective Date;
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Closing Security is defined in Section 65.
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Closing Security means [e.g. the temporary global bond];
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Examples of Closing Security in a sentence

  • The occurrence of the Commercial Closing Date is subject to (i) the Closing Security having been executed and delivered to the Authority and having become fully effective in accordance with its terms and (ii) Developer’s compliance with Sections 1.3.1 and 1.4.2 of Attachment GC6 to the General Conditions.

  • The Administrative Agent shall have received each of the Credit Agreement, the U.S. Security Agreements, the Dutch Closing Security Documents, the Intercreditor Agreements, a Mortgage in respect of each Closing Date Mortgaged Property and the Intellectual Property Security Agreements, in each case, executed and delivered by each applicable Loan Party.

  • The Collateral Agent shall have received a fully executed copy of each Dutch Closing Security Document (other than any notarial deed of pledge of shares), fully executed notices and/or other documents required to be delivered in order to ensure the validity and perfection of each Dutch Closing Security Document.

  • If any of the Section Developer's conditions precedent are not satisfied or waived by the Financial Close deadline, MDOT may: (A) draw and retain the full amount of the Closing Security, and (B) terminate the Section P3 Agreement and may have recourse against the Phase Developer as set out in the Phase P3 Agreement.

  • As continuing collateral security for the delivery, payment and performance of the Obligations, each of the Borrowers hereby pledges and assigns to the Bridge Lender and grants to the Bridge Lender (and its agents and designees), a continuing security interest in the Collateral (as defined in the Closing Security Agreement and any other Security Agreements).

  • On the Commercial Closing Date, the Section Developer shall deliver to MDOT an irrevocable standby letter of credit or demand guarantees in the aggregate amount of $10 million (the "Closing Security").

  • The Closing Security designates the Smithsonian as the 808 beneficiary.

  • Seven fields are calculated for purposes of editing, loan and pool accounting, and Pool Summary data (i.e., HUD form 11710-A in Appendix VI-5).Fields “calculated” by RFS, but not reported by the Issuers, include Opening Security RPB, Scheduled Principal, Interest Due Security Holder, and Cash Due Security Holder.RFS examines the “Calculated” Closing Security Balance Field.

  • As consideration for the covenants set forth in this Section 4.5(a) and subject to compliance by each such Principal with such covenants prior to the Closing, at the Closing Security Capital will pay to each Principal, by transfer of immediately available funds in accordance with the wire instructions provided to Security Capital prior to the date hereof, the amount set forth opposite each such Principal’s name on Schedule C under the heading “Restrictive Covenant Consideration”.

  • Within ten (10) days following receipt of such notice in accordance with this PPA, and so long as no Party is disputing pursuant to Article 30 (Dispute Resolution Procedures) whether the other Party has the right to terminate this PPA, the Department shall return the Closing Security to the Development Entity.


More Definitions of Closing Security

Closing Security means a Letter of Credit in favor of the Authority, in form and substance reasonably acceptable to the Authority, providing that it is payable only in accordance with Section 3.3(f) in the amount of $1,000,000.
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Closing Security has the meaning set forth in Section 2.3.
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Closing Security means an irrevocable standby letter of credit in the amount of $40,000,000 and substantially in the form set out in Form 5 (Form of Closing Security).
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Closing Security means the security issued by a bank in favor of the Contracting Authority in respect to the Concessionaire’s obligations during the Interim Period to be provided by the Concessionaire to the Contracting Authority in the agreed form, in compliance with the requirements of Clause 30.1 (Closing Security).
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Related to Closing Security

  • Closing Securities shall have the meaning ascribed to such term in Section 2.1(a)(ii).

  • Existing Security means any Security granted by any Person over its Assets in respect of any Relevant Indebtedness and which is existing at the relevant Issue Date or at the time any such Person becomes a Material Subsidiary or whose business and/or activities, in whole or in part, are assumed by or vested in the Issuer or a Material Subsidiary after the relevant Issue Date (other than any Security created in contemplation thereof) or any substitute Security created over those Assets (or any part thereof) in connection with the refinancing of the Relevant Indebtedness secured on those Assets provided that the principal, nominal or capital amount secured on any such Security may not be increased;

  • Underlying Security means a security issued or transferred, or to be issued or transferred, in accordance with the terms of a convertible security, an exchangeable security or a multiple convertible security;

  • participating security means a security title to units of which is permitted by an operator to be transferred by means of a relevant system;

  • Existing Securities means, collectively, the Equity Securities and the Debt Securities.

  • voting security means a security of the Company that:

  • APM Qualifying Securities means, with respect to an Alternative Payment Mechanism or any Mandatory Trigger Provision, one or more of the following (as designated in the transaction documents for any Qualifying Capital Securities that include an Alternative Payment Mechanism or a Mandatory Trigger Provision, as applicable):

  • Existing Secured Notes means the previously issued debt securities of the Issuers outstanding on the date hereof.

  • Controlling Securities means (i) the Class A Notes so long as the Class A Notes are outstanding, (ii) after the Class A Notes are no longer outstanding, the Class B Notes so long as the Class B Notes are outstanding and (iii) after the Class B Notes are no longer outstanding, the Class C Notes so long as the Class C Notes are outstanding.

  • Controlling Secured Parties means, with respect to any Shared Collateral, the Series of First Lien Secured Parties whose Authorized Representative is the Applicable Authorized Representative for such Shared Collateral.

  • Qualifying Securities means securities issued by the Issuer that:

  • Closing Purchase Price shall have the meaning ascribed to such term in Section 2.1(b), which aggregate purchase price shall be net of the underwriting discounts and commissions.

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

  • Buyer Closing Certificate has the meaning set forth in Section 7.03(d).

  • Seller Closing Certificate has the meaning set forth in Section 7.02(d).

  • Non-Controlling Secured Parties means, with respect to any Shared Collateral, the First Lien Secured Parties which are not Controlling Secured Parties with respect to such Shared Collateral.

  • Existing Security Agreement has the meaning set forth in the recitals hereto.

  • Seller's Closing Certificate means the certificate of Seller in the form of Exhibit C attached hereto.

  • Closing Payment Amount has the meaning specified in Section 1.5.

  • Closing Consideration shall have the meaning set forth in Section 2.1(b).

  • Company Voting Securities means the combined voting power of all outstanding voting securities of the Company entitled to vote generally in the election of directors to the Board.

  • Closing Stock Price means the average closing price of one share of Common Stock for the twenty consecutive trading days that include and immediately precede the last day of the Performance Period.

  • Continuing ownership interest means ownership of or entitlement to more than twenty five per cent of shares or capital or profits of the company;

  • Closing Notice Has the meaning specified in the NPA. Company: Has the meaning specified in the first paragraph of this Trust Supplement.

  • Closing Merger Consideration has the meaning set forth in Section 3.2(a)(ii).

  • Outstanding Company Voting Securities means outstanding voting securities of the Company entitled to vote generally in the election of directors; and any specified percentage or portion of the Outstanding Company Voting Securities (or of other voting stock or voting securities) shall be determined based on the relative combined voting power of such securities;