Debenture Security definition
Examples of Debenture Security in a sentence
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.
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.
Sections 93 and 103 of the Act shall not apply to the Debenture Security.
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.
Subject to applicable laws and regulations affecting creditors generally, the Debenture Security will once registered have first ranking priority and is not subject to any prior ranking or pari passu ranking Security other than Permitted Security.
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.
All notices to the holders of Debentures will be mailed to registered holders of Debentures at their registered addresses as the same shall appear in the Debenture Security Register on the day fifteen days prior to such mailing.
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.
The Chargor, by way of security, irrevocably and severally appoints the Lender, each Receiver and any Delegate to be its attorney to take any action whilst an Event of Default is continuing or enforcement of the Debenture Security has occurred which the Chargor is obliged to take under this Deed, including under clause 21 (Further assurances) or, if no Event of Default is continuing, which the Chargor has failed to take within any applicable grace period.
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.