Examples of Debenture Security in a sentence
Sections 93 and 103 of the Act shall not apply to the Debenture Security.
Each Grantor shall, at its own cost and expense, take any and all actions necessary to defend title to the Collateral against all persons and to defend the New Debenture Security Interest of the Collateral Agent, for the benefit of the New Secured Parties, in the Collateral and the priority thereof against any Lien which is not a Permitted Lien.
After this Debenture Security has become enforceable pursuant to clause 14.1 of this Deed, the Lender may in its absolute discretion enforce all or any part of the Debenture Security in such manner as it sees fit.
The New Debenture Security Interest is granted as security only and shall not subject the Collateral Agent or any other New Secured Party to, or in any way alter or modify, any obligation or liability of the Grantors with respect to or arising out of the Collateral.
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New Debenture Security Interest is and shall be prior to any other Lien on any of the Collateral, other than the Permitted Liens described in clauses (i) and (viii) of the definition thereof or as may arise nonconsensually by, and have priority solely by operation of applicable laws.
The obligations of the Chargor under, and the security intended to be created by, this Deed shall not be impaired by any forbearance, neglect, indulgence, extension or time, release, surrender or loss of securities, dealing, amendment or arrangement by the Lender which would otherwise have reduced, released or prejudiced this Debenture Security or any surety liability of the Chargor (whether or not known to it).
Any certificate or determination of the [Singapore Group Debenture] Security Trustee showing in reasonable details the calculations made by the Security Trustee as to any amount for the purposes of this Clause 13 shall, in the absence of manifest error, be conclusive and binding on each Chargor.
This Debenture Security shall become immediately enforceable upon the occurrence of an Event of Default and shall remain so for so long as such Event of Default is continuing.
Other than as set forth in the Subordinated Debenture Security Agreement, each Junior Creditor hereby represents, severally, and not jointly with the other Junior Creditors, that such Junior Creditor has not been granted or obtained any Liens in any assets of any Debtor or any other assets securing the Senior Debt.