Collateral Swap definition
Collateral Swap shall have the meaning assigned to such term in Section 10.18(b).
Collateral Swap means the substitution of a security interest in Collateral granted by, or with respect to, one or more Guarantors with a first-ranking security interest (including, without limitation, any mortgages, vessel mortgages or deeds of covenants) granted in favor of the Security Agent for the benefit of the Note Secured Parties over
Collateral Swap means a release of any assets which comprise Charged Property from the Transaction Security and the taking of Transaction Security over other Liquid Securities in accordance with Clause 16.8 (Charged Property Collateral Swaps).
Examples of Collateral Swap in a sentence
Upon a Collateral Swap, the Collateral Agent without any recourse to or representation by it, shall promptly (and the Lenders hereby authorize the Collateral Agent to) take such action and execute any such documents as may be reasonably requested by the Borrower pursuant to this Agreement to effect such Collateral Swap.
Any and all provisions of the Indenture and the Notes as well as the schedules attached to the Indenture are hereby deemed to be amended to reflect the intentions of the 2025 Collateral Swap provided for in this Supplemental Indenture.
More Definitions of Collateral Swap
Collateral Swap means the substitution of a security interest in Collateral granted by, or with respect to, one or more Guarantors with a first-ranking security interest (including, without limitation, any mortgages, vessel mortgages or deeds of covenants) granted in favor of the Security Agent for the benefit of the Note Secured Parties over (i) all assets of one or more Restricted Subsidiaries that the Issuer causes to provide a Note Guarantee as described in Section 4.15(a) (such Restricted Subsidiaries, “Collateral Swap Guarantors”), other than certain excluded assets as set forth in the Security Documents, (ii) each of the Vessels owned or operated by such Collateral Swap Guarantors at the effective date of the Collateral Swap and from time to time thereafter, and, in each case, assignments of insurances and earnings in respect thereof, in each case except to the extent prohibited by applicable law or contract, and (iii) all shares or other equity interests in such Collateral Swap Guarantors.