Direct Collateral definition

Direct Collateral means, with respect to any Borrower, all property, assets and/or rights on or in which a Lien is now or hereafter granted by such Borrower to the Administrative Agent (or to any agent, trustee or other party acting on behalf of the Administrative Agent) for the benefit of the Banks, pursuant to the Pledge Agreement and any other instruments or documents provided for herein or therein or delivered hereunder or thereunder or in connection herewith or therewith.
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Direct Collateral means, with respect to any Borrower, all property, assets and/or rights on or in which a Lien is now or hereafter granted by such Borrower to the Administrative Agent (or to any agent, trustee or other party acting on behalf of the Administrative Agent) for the benefit of the Banks, pursuant to the Pledge Agreement, the Subordinated Pledge Agreement Re 1997 Shares, the AC Pledge Agreement, the Subordinated Pledge Agreement Re 1999 Shares, and any other instruments or documents provided for herein or therein or delivered hereunder or thereunder or in connection herewith or therewith.
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Direct Collateral means all of the Company’s and each Guarantor’s right, title and interest in, to and under the Shared Direct Collateral and the Primary Direct Collateral, in each case, whether now owned or hereafter acquired.
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Examples of Direct Collateral in a sentence

  • Nothing contained in this Section 8.1.4 shall be deemed to limit in any way whatsoever the Administrative Agent's right, on behalf of the Banks, to calculate the Loan Value of Direct Collateral or the Loan Value of Indirect Collateral or the Collateral Ratio at any time it deems appropriate or necessary.

  • None of the Direct Collateral pledged by such Borrower is subject to any Lien (except for (a) the Lien of the Administrative Agent pursuant to the Pledge Agreement, (b) the Liens under any subordinated pledge agreement in favor of the administrative agent under any Other D&O Agreement, and (c) the Lien of the AC Collateral Agent under the AC Pledge Agreement).

  • None of the Direct Collateral pledged by such Borrower is subject to any Lien (except for the Lien of the Administrative Agent).

  • For purposes of monitoring Collateral requirements, the Trust Assets comprising the Direct Collateral Trust Account will be treated as partial collateral securing Insured’s Obligations under the Insurance Plans.

  • Dakota agrees to cause USMX promptly to grant to Rothschild liens on and security interests in the Dakota Direct Collateral (subject and subordinate to the liens and security interests of Dakota therein) pursuant to instruments substantially in the form of the USMX Pledge Agreement and the Thunder Mountain Assignment.

  • The Direct Collateral Trust Account required to be established and maintained pursuant to Article 7.A.1(i) of this Agreement will be funded with Trust Assets that will amount to at least $24,895,384 (subject to audit) during the term of this Agreement and shall consist only of the following those classes of Eligible Securities as set forth in the Collateral Trust Agreement establishing the Direct Collateral Trust Account.

  • Funding of the Direct Collateral Trust Account shall be made in four equal quarterly installments of $6,223,846 (payable on January 1, 2002, April 1, 2002, July 1, 2002 and October 1, 2002) and the Collateral Trust Agreement creating the Direct Collateral Trust Account shall reflect that such Collateral Trust Account is established and maintained for the sole benefit of Insurer to secure the Insured’s Obligations under the Insurance Plans.

  • Insured will increase the applicable Direct Collateral Trust Account and/or the sub-accounts comprising the Consolidated Collateral Trust Account or the bonds to the required amount within ten (10) days of notification thereof.

  • Insurer will have the right to require Insured to increase the amount of assets in the Direct Collateral Trust Account and/or the sub-accounts comprising the Consolidated Collateral Trust Account required as Collateral under the applicable Insurance Plans by an amount not to exceed the amount of the Maximum Incurred Losses (as defined in the Finance Agreement applicable to each of the Insurance Plans) if there is a Material Change In Ownership of Insured.

  • Insurer receives written notice from (i) the Issuing Institution, that the bond will not be renewed, or (ii) the Trustee, that the Collateral Trust Agreement applicable to either the Direct Collateral Trust Account and/or the Consolidated Collateral Trust Account will be terminated, and Insurer is not in possession of a satisfactory successor Trustee or -------------------------------------------------------------------------------- Staff Leasing, Inc.

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