Confirmed Material means (i) Hedged Inventory (other than Assigned Material or Assigned Material – Unassigned Hedge) which is not subject to any Lien other than the first priority perfected security interest granted to Agent on behalf of the Lenders, and is located at an Approved Depository or a Foreign Approved Depository (subject to satisfaction of the Foreign Collateral Lien Procedures), in each case, that has entered into, and is in compliance with the terms of, a Depository Letter; provided that for a period of ninety (90) days after the Closing Date, any such Hedged Inventory located at an Approved Depository or a Foreign Approved Depository (subject to satisfaction of the Foreign Collateral Lien Procedures) shall qualify as Confirmed Material notwithstanding the failure to obtain a Depository Letter or (ii) HSBC London Inventory.
Confirmed Material means (i) Hedged Inventory (other than Assigned Material or Assigned Material - Unassigned Hedge) which is not subject to any Lien other than the first priority perfected security interest granted to the Administrative Agent on behalf of the Secured Parties, and is located at an Approved Depository or a Foreign Approved Depository (subject to satisfaction of the Foreign Collateral Lien Procedures), in each case, that has entered into, and is in compliance with the terms of, a Depository Letter or (ii) HSBC London Inventory.
Confirmed Material means Precious Metals which constitute Hedged Inventory and which are owned by the Company and are not subject to any security interest other than the perfected security interest granted to the Agent on behalf of the Lenders, and are located at an Approved Depository or a Foreign Approved Depository that has entered into, and is in compliance with the terms of, a Depository Letter.
Examples of Confirmed Material in a sentence
The Borrower shall not permit Assigned Material, Assigned Material – Unassigned Hedge, Confirmed Material or CFC Collateral stored at any Approved Depository, Foreign Approved Depository or CFC Approved Depository at any one time which is included in the Borrowing Base as of any Report Date to exceed in the aggregate the limits provided for each Approved Depository, Foreign Approved Depository or CFC Approved Depository, as set forth on Schedule 1.1B, Schedule 1.1C or Schedule 1.1D, as applicable, hereto.
More Definitions of Confirmed Material
Confirmed Material means (i) Hedged Inventory (other than Assigned Material or Assigned Material - Unassigned Hedge) which is notsubject to any Lien other than the first priority perfected security 9 interest granted to Agent on behalf of the Lenders, and is located at an Approved Depository or a Foreign Approved Depository (subject to satisfaction of the Foreign Collateral Lien Procedures), in each case, that has entered into, and is in compliance with the terms of, a Depository Letter; provided that for a period of ninety (90) days after the Closing Date, any such Hedged Inventory located at an Approved Depository or a Foreign Approved Depository (subject to satisfaction of the Foreign Collateral Lien Procedures) shall qualify as Confirmed Material notwithstanding the failure to obtain a Depository Letter or (ii) HSBC London Inventory.
Confirmed Material means Hedged Inventory (other than Assigned Material or Assigned Material - Unassigned Hedge) which is (i) not subject to any Lien other than the first priority perfected security interest granted to the Administrative Agent on behalf of the Secured Parties, and is located at an Approved Depository or a Foreign Approved Depository (subject to satisfaction of the Foreign Collateral Lien Procedures), in each case, that has entered into, and is in compliance with the terms of, a Depository Letter or(ii) HSBC London Inventory.