Existing Security on Assets definition
Existing Security on Assets means any Security over any asset or any guarantee or indemnity in respect of any Relevant Debt incurred in connection with any asset acquired after 8 August 2019 (provided that such Security or guarantee or indemnity is existing on or prior to the date of the acquisition of the asset and was not created in contemplation of that acquisition) and any substitute Security or guarantee or indemnity created on that asset or indebtedness in connection with the refinancing of the Relevant Debt so secured or guaranteed (but the principal, nominal or capital amount guaranteed or secured and outstanding at the time of acquisition may not be increased without the prior written consent of the Trustee).