Creation of Security definition

Creation of Security create any mortgage, charge, lien (other than a lien arising in the ordinary course of trading) or encumbrance on any assets (other than pursuant to the Finance Documents);
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Examples of Creation of Security in a sentence

  • The Trustee shall hold the Security (Clause 8 (Creation of Security)) as a security trustee (Clause 7 (Appointment as Trustee)) for security purposes (Clause 9 (Security Purpose)).

  • Issuer Security Deed, Security Trustee and Enforcement Pursuant to the Master Security Trust Deed and the Notice of Creation of Security Trust, the Security Trustee holds the Security Trust Fund on trust for the Noteholders and the other Transaction Creditors on the terms of the Master Security Trust Deed and the Issue Supplement.

  • The security interests created pursuant to Clause 8 (Creation of Security) except for Clause 8.1.1(ii)), pursuant to the other provisions of this Agreement and pursuant to the Deed of Security Assignment (collectively, the "Security") shall serve as security for the Trustee Claim.

  • For the avoidance of doubt, nothing in this Section 2 (Creation of Security) will prevent the Grantors from permitting to subsist or granting any other Permitted Security.

  • Creation of Security Interest 12 4.1 Grant of Security Interest 12 4.2 Authorization to File Financing Statements 13 5.

  • Creation of Security Interests over Cover Assets The ACS Act provides that an Institution may not create a security interest in respect of any Cover Assets in the Pool if Asset Covered Securities are outstanding or if a cover assets hedge contract is in existence and if such security interest would, but for Part 7 of the ACS Act, adversely affect the priority conferred by Part 7 of the ACS Act on preferred creditors.

  • This is a critical concept to avoid having a system with hidden liens due to the lack of publicity of some of them.2.3 Creation of Security Interests Formal requirements for creating security interests should be kept minimal.

  • Section 11.1 Assignment 36 Section 11.2 Creation of Security 36 Section 11.3 Delivery of Financing Documents; Evaluation of Principal Repayment Schedule 38 ARTICLE XII RESTRICTIONS ON ACQUISITIONS AND TRANSFERS OF SHARES AND ASSETS .......................................................................................................................................

  • This decrease was mainly due to a decrease in other components of equity of ¥50,339 million caused mainly by foreign currency translation adjustments.NIDEC finalized the provisional accounting treatment for the business combination in the year ended March 31, 2020.

  • Creation of Security Operation Center (SOC) is in progress.Multimedia ApplicationsVideo Conference facility at six locations of Finance Department has been provisioned.

Related to Creation of Security

  • Breach of Security means the occurrence of unauthorised access to or use of the Premises, the Services, the Contractor system or any ICT or data (including the Authority’s Data) used by the Authority or the Contractor in connection with this Contract.

  • Series of Secured Debt means, severally, each Series of Priority Lien Debt and each Series of Parity Lien Debt.

  • holder of Securities “registered holder”, or other similar term, means the Person or Persons in whose name or names a particular Security is registered on the Security Register kept for that purpose in accordance with the terms of this Indenture.

  • Exercise of Secured Creditor Remedies means, except as otherwise provided in the final sentence of this definition:

  • Series of Securities means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.

  • or "Security means any debt securities or debt security, as the case may be, authenticated and delivered under this Indenture.

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

  • Debt Security or “Debt Securities” has the meaning stated in the first recital of this Indenture and more particularly means any debt security or debt securities, as the case may be, of any series authenticated and delivered under this Indenture.

  • of a Security means the principal of the Security plus the premium, if any, payable on the Security which is due or overdue or is to become due at the relevant time.

  • of a debt security means the principal of the security plus, when appropriate, the premium, if any, on the security.

  • Trust Security means any one of the Common Securities or the Preferred Securities.

  • Redemption Provisions Initial Redemption Date: Initial Redemption Percentage: Annual Redemption Percentage Reduction, if any: Repayment Provisions: Optional Repayment Date(s):

  • Successor Security of any particular Security means every Security issued after, and evidencing all or a portion of the same debt as that evidenced by, such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.6 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.

  • Holders of Secured Obligations means the holders of the Secured Obligations from time to time and shall include their respective successors, transferees and assigns.

  • Permitted Subordinated Debt means unsecured Indebtedness incurred by the Borrowers and any Subsidiary Guarantors (a) that is subordinated to the obligations of the Borrowers to pay principal of and interest on the Loans, Reimbursement Obligations, fees and other amounts payable hereunder and under the other Loan Documents, (b) that does not mature or have scheduled amortization or payments of principal prior to the date that is ninety-one (91) days after the Latest Maturity Date at the time such Indebtedness is incurred, (c) the terms of which do not require the Borrowers or any of their Subsidiaries to repurchase, repay or redeem such Indebtedness (or make an offer to do any of the foregoing) upon the happening of any event (other than as a result of an event of default thereunder or pursuant to customary “change of control” provisions or asset sale offers) prior to the 91st day following the Latest Maturity Date at the time such Indebtedness is incurred and (d) the documentation for which provides for covenants, events of default and terms that the Borrowers determine are market for similar financings at the time such Indebtedness is issued; provided that in no event shall such documentation contain any financial maintenance covenant (which term does not apply to incurrence-based financial tests that may be included in such documentation); provided, further, that at the time of incurrence, on a pro forma basis after giving effect to the incurrence of such Indebtedness, Borrowers shall be in compliance with Section 8.10 as of the last day of the most recent fiscal quarter of the Borrowers for which financial statements are available.

  • 144A Global Security means a permanent Global Security in the form of the Security attached hereto as Exhibit A-1, and that is deposited with and registered in the name of the Depositary, representing Securities sold in reliance on Rule 144A under the Securities Act.

  • Junior Security of a Person means, when used with respect to the Securities of any series, any Qualified Capital Stock of such Person or any Indebtedness of such Person that is subordinated in right of payment to the Securities of such series and has no scheduled installment of principal due, by redemption, sinking fund payment or otherwise, on or prior to the Stated Maturity of the Securities of such series.

  • Subordinated Security or “Subordinated Securities” means any Security or Securities designated pursuant to Section 301 as a Subordinated Security.

  • 101 ( Outstanding") (a)(1)(A)....................... 502, 512 (a)(1)(B)....................... 513 (b).............................. 508 Sec. 317(a)(1).......................... 503 (a)(2)........................... 504 Sec. 318(a)............................. 111 (c)..............................

  • Description of Notes means the “Description of the Notes” section of the Final Offering Memorandum.

  • Registered Security means any Security established pursuant to Section 201 which is registered in the Security Register.

  • Form of Note means the “Form of Note” attached hereto as Exhibit A.