Excepted Collateral definition

Excepted Collateral shall have the meaning set forth in Section 8.1(i).
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Excepted Collateral means, as determined by the Agent in its reasonable discretion, Collateral (i) for which a Lien cannot be timely "perfected" under applicable law other than by filing a financing statement in the District of Columbia or (ii) for which the costs of perfecting a Lien under applicable law are disproportionately high compared to the value of such Collateral for purposes of this Agreement, or (iii) otherwise specifically designated as Excepted Collateral by the Agent for whatever reason.
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Excepted Collateral. The Property, Plant and Equipment.
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Examples of Excepted Collateral in a sentence

  • At the option of the Agent, there shall be a Commitment reduction in the sole discretion of the Banks of 100% of the net cash proceeds (after payment of related taxes and expenses) from the sale of assets (other than the Excepted Collateral) received by a Borrower or a Subsidiary that results in net cash proceeds in excess of $250,000; provided, however, that entering into a sale-leaseback transaction shall not be considered a sale of assets for purposes of this provision.


More Definitions of Excepted Collateral

Excepted Collateral means (i) those assets and properties that the Administrative Agent shall have determined in its reasonable discretion that the cost of obtaining a security interest is excessive in relation to the value of the security to be afforded thereby, (ii) those assets and properties that the grant of a security interest therein is prohibited by applicable law or anti-assignment provisions that are not ineffective as a result of the application of Article 9 of the relevant UCC, (iii) vehicles and other equipment subject to a certificate of title statute, (iv) rolling stock, (v) any Building or Mobile Home located within an area having special flood hazards, (vi) Equity Interests in Foreign Subsidiaries, (vii) Equity Interests in any Unrestricted Subsidiary, joint venture or Minority Ownership Entity to the extent that such Equity Interests have been pledged as permitted under Section 8.01(r) to secure Permitted Project Debt, (viii) Equity Interests in any Unrestricted Subsidiary, joint venture or Minority Ownership Entity whose Organization Documents prohibit pledging Equity Interests in such Unrestricted Subsidiary, joint venture or Minority Ownership Entity, as applicable, (ix) a portion of the Equity Interests in each JV Holdco equal to the remainder of (A) 100% of the Equity Interests in such JV Holdco less (B) the MLP’s direct or indirect ownership interest in such JV Holdco, (x) a portion of the Equity Interests in each Secured Joint Venture equal to the remainder of (A) 100% of the Equity Interests in such Secured Joint Venture less (B) MLP’s Adjusted Proportionate Ownership Interest in such Secured Joint Venture, (xi) undivided interests in the real and personal Property owned by each Secured Joint Venture in an amount equal to the remainder of (A) 100% of the Equity Interests in such Secured Joint Venture less (B) MLP’s Adjusted Proportionate Ownership Interest in such Secured Joint Venture, and (xii) those assets and properties owned by an OpCo Entity that the Controlling Agent shall have determined in its reasonable discretion that the cost of obtaining a security interest is excessive in relation to the value of the security to be afforded thereby.
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Excepted Collateral means (a) Collateral listed on Schedule 1.01(f) hereto; (b) Engines and Equipment which the Security Agent determines to include in the Asset Base as part of the $*** basket for unperfected Collateral (provided in the definition of “Asset Base”) or which is specifically approved in writing by the Majority Banks notwithstanding that the Security Agent will not receive a perfected first priority security interest therein; and (c) Collateral other than Engines and Equipment as to which perfection is effected by any means other than by filing a UCC financing statement.
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Excepted Collateral shall have the meaning set forth in Section 8.1(i). "EXISTING DEBT" shall mean the existing Debt (excluding guarantees) of the Borrowers or any of their Restricted Subsidiaries to certain Persons described on Schedule 1 to this Agreement. "FACILITY TERMINATION DATE" shall mean the date upon which the Borrowers have repaid all principal, interest, fees and other expenses related to all Revolving Loans and all, if any, Term Loans, and all other Obligations have been satisfied in full. "FAIR MARKET VALUE" shall mean the fair market value of Equipment as determined by an appraisal made by an appraiser arranged by the Appraisal Agent under the terms of this Agreement. "FEDERAL FUNDS RATE" shall mean the daily rate of interest announced from time to time by the Board of Governors of the Federal Reserve System in publication H. 15 as the "Federal Funds Rate," or if such publication is unavailable, such rate as is available to the Administrative Agent on such day. "FISCAL QUARTER" shall mean a fiscal quarter of the Borrowers, which shall be any quarterly period ending on March 31, June 30, September 30 or December 31 of any year.
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Excepted Collateral shall have the meaning set forth in Section 8.1(j). * This redacted material has been omitted pursuant to a request for confidential treatment, and the material has been filed separately with the Commission.
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Related to Excepted Collateral

  • Permitted Collateral Liens means any Lien on the Collateral:

  • As-Extracted Collateral means “as-extracted collateral” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York.

  • Excepted Property has the meaning specified in the Granting Clauses of this Indenture.

  • Posted Collateral means all Eligible Collateral, other property, Distributions, and all proceeds thereof that have been Transferred to or received by the Secured Party under this Annex and not Transferred to the Pledgor pursuant to Paragraph 3(b), 4(d)(ii) or 6(d)(i) or released by the Secured Party under Paragraph 8. Any Interest Amount or portion thereof not Transferred pursuant to Paragraph 6(d)(ii) will constitute Posted Collateral in the form of Cash.

  • Excepted Liens means: (i) Liens for taxes, assessments or other governmental charges or levies not yet due or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (ii) Liens in connection with workmen's compensation, unemployment insurance or other social security, old age pension or public liability obligations not yet due or which are being contested in good faith by appropriate action and for which adequate reserves have been maintained in accordance with GAAP; (iii) operators', vendors', carriers', warehousemen's, repairmen's, mechanics', workmen's, materialmen's, construction or other like Liens arising by operation of law in the ordinary course of business or incident to the exploration, development, operation and maintenance of Oil and Gas Properties or customary landlord's liens, each of which is in respect of obligations that have not been outstanding more than 90 days or which are being contested in good faith by appropriate proceedings and for which adequate reserves have been maintained in accordance with GAAP; (iv) any Liens reserved in leases or farmout agreements for rent or royalties and for compliance with the terms of the farmout agreements or leases in the case of leasehold estates, to the extent that any such Lien referred to in this clause does not materially impair the use of the property covered by such Lien for the purposes for which such property is held or materially impair the value of such property subject thereto; (v) encumbrances (other than to secure the payment of borrowed money or the deferred purchase price of property or services), easements, restrictions, servitudes, permits, conditions, covenants, exceptions or reservations in any rights of way or other property for the purpose of roads, pipelines, transmission lines, transportation lines, distribution lines for the removal of gas, oil, coal or other minerals or timber, and other like purposes, or for the joint or common use of real estate, rights of way, facilities and equipment, and defects, irregularities, zoning restrictions and deficiencies in title of any rights of way or other property which in the aggregate do not materially impair the use of such rights of way or other property for the purposes of which such rights of way and other property are held or materially impair the value of such property subject thereto; (vi) deposits of cash or securities to secure the performance of bids, trade contracts, leases, statutory obligations and other obligations of a like nature incurred in the ordinary course of business; and (vii) Liens (including "Excepted Liens") permitted by or created pursuant to the Senior Credit Agreement and Liens permitted by or created pursuant to the Subordinated Credit Agreement.

  • Combined Collateral LLC: Combined Collateral LLC, a Delaware limited liability company.

  • Excluded Collateral shall have the meaning assigned to such term in the Security Agreement.

  • Contested Collateral Lien Conditions means, with respect to any Permitted Lien of the type described in clauses (a), (b), (e) and (f) of Section 6.02, the following conditions:

  • Pledged or Controlled Collateral has the meaning assigned to such term in Section 5.05(a).

  • Pledged Collateral has the meaning assigned to such term in Section 2.01.

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • Patent Collateral means all Patents, whether now owned or hereafter acquired by the Company that are associated with the Business.

  • Equivalent Collateral means, with respect to any security constituting Posted Collateral, a security of the same issuer and, as applicable, representing or having the same class, series, maturity, interest rate, principal amount or liquidation value and such other provisions as are necessary for that security and the security constituting Posted Collateral to be treated as equivalent in the market for such securities;

  • UCC Collateral is defined in Section 3.03.

  • Threshold Event Collateral shall have the meaning assigned to such term in Section 5(g).

  • U.S. Collateral means any and all property owned, leased or operated by a Person covered by the U.S. Collateral Documents and any and all other property of any U.S. Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Secured Obligations.

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Collateral has the meaning set forth in Section 2.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Control Collateral means any Collateral consisting of any Certificated Security (as defined in Section 8-102 of the Uniform Commercial Code), Investment Property, Deposit Account, Instruments and any other Collateral as to which a Lien may be perfected through possession or control by the secured party, or any agent therefor.

  • Account Collateral means, with respect to each Account, such Account, together with all cash, securities, Financial Assets and investments and other property from time to time deposited or credited to such Account and all proceeds thereof, including, with respect to the Reserve Fund, the Reserve Fund Deposit and the Reserve Fund Amount.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • Primary Collateral With respect to any Cross-Collateralized Mortgage Loan, any Mortgaged Property (or portion thereof) designated as directly securing such Cross-Collateralized Mortgage Loan and excluding any Mortgaged Property (or portion thereof) as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such Cross-Collateralized Mortgage Loan.

  • Personal Property Collateral means all Collateral other than Real Property.

  • Swap Collateral means all right, title and interest of Party B in this Agreement, each Transaction hereunder, and all present and future amounts payable by Party A to Party B under or in connection with this Agreement or any Transaction governed by this Agreement, including, without limitation, any transfer or termination of any such Transaction.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.