failure of security definition

failure of security means failure of the Insured’s hardware, software or firmware (including firewalls, filters, computer virus protection software, intrusion deletion and the electronic use of passwords or similar identification of authorised users) whose purpose is to prevent a computer attack, unauthorised access, unauthorised use and/or disclosure of confidential or private information and/or the transmission of a computer virus into or from the Insured’s computer system to actually prevent any of the foregoing events. Failure of security shall also mean the theft of a password or access code by non-electronic means in violation of the Insured’s written security policies and procedures which theft actually results in a computer attack, unauthorised access, unauthorised use and/or disclosure of confidential or private information and/or the transmission of a computer virus into or from the Insured’s computer system. For the avoidance of doubt, unintentional programming and/or operational errors shall, in no event, constitute failure of security.
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failure of security means: a. the actual failure and inability of the security of computer system to mitigate loss from or prevent computer data infiltration; physical theft of hardware or firmware controlled by the Merchant (or components thereof) on which electronic data is stored, or through which electronic data passes, from a premises occupied and controlled by the Merchant. Failure of security shall also include such actual failure and inability above, resulting from the theft of a password or access code by non-electronic means; or b. physical loss of information (including loss of receipts, employee theft and stolen databases).
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failure of security means the occurrence of either of the following: any Collateral Document ceases to be in full force and effect, or is declared by a court of competent jurisdiction to be null and void, invalid or unenforceable in any respect; or the Agent shall not have or shall cease to have a valid and perfected Lien of first priority (other than Liens expressly permitted to be prior to such Lien pursuant to Section 7.01) in the Collateral purported to be covered thereby, in each case for any reason other than (i) as provided in such Collateral Document, or (ii) the agreement of all the Lenders or satisfaction in full of all the Obligations secured by such Collateral Document.
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More Definitions of failure of security

failure of security any of the following shall occur: (i) the security in and/or liens created on the Collateral of the Borrower or the Grantors (as defined in the Security Agreement) by the Security Agreement or any other Loan Document shall at any time cease to constitute valid and perfected security and/or liens on any material portion of the Collateral of Borrower or Grantor, as applicable, intended to be covered thereby, except for any Collateral as to which Lender shall have released such security interest in accordance with the terms herein or contained in the Security Agreement; (ii) except for expiration in accordance with its terms, the Security Agreement or any other Loan Document pursuant to which a lien is granted by Borrower or the Grantors (as defined in the Security Agreement) in favor of the Lender shall for whatever reason be terminated or shall cease to be in full force and effect; (iii) the enforceability of the Security Agreement, the Guarantee or any other Loan Document pursuant to which a lien is granted by Borrower in favor of the Lender shall be contested by or on behalf of Borrower, the Grantors (as defined in the Security Agreement), the Guarantors or any of their respective Subsidiaries; (iv) Borrower, any Grantor (as defined in the Security Agreement) or any Guarantor shall assert that its obligations under this Note or any other Loan Document shall be invalid or unenforceable; or (v) a loss, theft, damage or destruction occurs with respect to a material portion of the Collateral of Borrower or any Grantor (as defined in the Security Agreement).”
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failure of security means the actual failure and inability of the security of an Association’s Computer System to mitigate loss from or prevent a Computer Attack, including such failure resulting from the theft of a password or access code by non-electronic means in direct violation of the Association’s specific written security policies or procedures.
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failure of security means: the actual failure and inability of the security of the merchant’s computer system to mitigate loss from or prevent computer data infiltration; physical theft of hardware or firmware controlled by the merchant (or components thereof) on which electronic data is
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failure of security means: a. the actual failure and inability of the security of computer system to mitigate los s from or prevent computer data infiltration; physical theft of hardw are or firmw are controlled by the Merchant (or components thereof) on w hich electronic data is stored, or through w hich electronic data passes, from a premises occupied and controlled by the Merchant. Failure of security shall also include such actual failure and inability above, resulting from the theft of a passw ord or access code by non-electronic means; or b. physical loss of information (including loss of receipts, employee theft and stolen databases).
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failure of security means: (a.) the actual failure and inability of the security of computer system to mitigate loss from or prevent computer data infiltration; physical theft of hardware or firmware controlled by the merchant (or components thereof) on which electronic data is stored, or through which electronic data passes, from a premises occupied and controlled by the merchant. Failure of security shall also include such actual failure and inability above, resulting from the theft of a password or access code by non-electronic means; or (b.) physical loss of information (including loss of receipts, employee theft and stolen databases),
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failure of security means the actual failure or inability:
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Related to failure of security

  • Breach of Security means the occurrence of unauthorised access to or use of the Premises, the Services, the Contractor system or any ICT or data (including the Authority’s Data) used by the Authority or the Contractor in connection with this Contract.

  • Exercise of Secured Creditor Remedies means, except as otherwise provided in the final sentence of this definition:

  • holder of Securities “registered holder”, or other similar term, means the Person or Persons in whose name or names a particular Security is registered on the Security Register kept for that purpose in accordance with the terms of this Indenture.

  • LCR Security means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent under GAAP) within the meaning of Paragraph .32(e)(viii) of the final rules titled Liquidity Coverage Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014).

  • Unlawful means not specifically authorized by law.

  • Series of Secured Debt means, severally, each Series of Priority Lien Debt and each Series of Parity Lien Debt.

  • Series of Securities means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.

  • Race or sex scapegoating means assigning fault, blame, or bias to a race or sex, or to members of a race or sex because of their race or sex; and

  • or "Security means any debt securities or debt security, as the case may be, authenticated and delivered under this Indenture.

  • of a Security means the principal of the Security plus the premium, if any, payable on the Security which is due or overdue or is to become due at the relevant time.

  • Quasi-Security means an arrangement or transaction described in paragraph (b) below.

  • of a debt security means the principal of the security plus, when appropriate, the premium, if any, on the security.

  • Breach of system security means unauthorized acquisition of computerized data that compromises the security, confidentiality, or integrity of sensitive personal information maintained by a person, including data that is encrypted if the person accessing the data has the key required to decrypt the data. Good faith acquisition of sensitive personal information by an employee or agent of the person for the purposes of the person is not a breach of system security unless the person uses or discloses the sensitive personal information in an unauthorized manner. Business and Commerce Code 521.053(a)

  • Permitted Cure Security means an equity security of the Borrower having no mandatory redemption, repurchase or similar requirements prior to 91 days after the Latest Maturity Date of all Classes of Loans or Commitments, and upon which all dividends or distributions (if any) shall be payable solely in additional shares of such equity security.

  • Holders of Secured Obligations means the holders of the Secured Obligations from time to time and shall include their respective successors, transferees and assigns.

  • Applicable Lending Office means, with respect to each Lender, such Lender’s Domestic Lending Office in the case of a Base Rate Advance and such Lender’s Eurocurrency Lending Office in the case of a Eurocurrency Rate Advance.

  • Form of Note means the “Form of Note” attached hereto as Exhibit A.

  • of a Note means the principal of the Note plus the premium, if any, payable on the Note which is due or overdue or is to become due at the relevant time.

  • Nonpayment of premium means the failure or inability of the named insured to discharge any obligation in connection with the payment of premiums on a policy of insurance subject to this section, whether such payments are payable directly to the insurer or its agent or indirectly payable under a premium finance plan or extension of credit;

  • of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.

  • Successor Security of any particular Security means every Security issued after, and evidencing all or a portion of the same debt as that evidenced by, such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.7 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, destroyed, lost or stolen Security.

  • Race or sex stereotyping means ascribing character traits, values, moral and ethical codes, privileges, status, or beliefs to a race or sex, or to an individual because of his or her race or sex.

  • Debt Security or "Debt Securities" has the meaning stated in the first recital of this Indenture.

  • Minor political party means a political party that has qualified as a minor political party

  • Registered Security means any Security which is registered in the Security Register.

  • Lending Office means, as to any Lender, the office or offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent.