First Ranking Security definition

First Ranking Security means the first ranking security interests created by the Chargor over the Secured Assets in favour of the Security Agent pursuant to the First Ranking Security Agreement;
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First Ranking Security means any security granted by the Borrower for the purposes of traditional reserve based or PDP lending against the Secured Assets.
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First Ranking Security means the charges and security interests granted in favour of Purchaser pursuant to the First Ranking Security Documents;
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Examples of First Ranking Security in a sentence

  • Furthermore, all the outstanding and issued Shares of such Subsidiary shall be pledged to the Lender as a First Ranking Security Interest for the Obligations.

  • In case of conflict between the First Ranking Security Documents and this Agreement, the provisions of this Agreement shall prevail, provided however that this will not in any way be interpreted or applied to prejudice the legality, validity or enforceability of any First Ranking Security Document.

  • Ensure that the Security granted by any Loan Party to the Lender remains legal, valid, binding and enforceable, as a First Ranking Security Interest over the Collateral, in accordance with its terms (subject to Applicable Laws affecting the rights of creditors generally and rules of equity of general application).

  • The Pledgor shall ensure that such registration of the variation of the Pledge continues to be a first in time priority in any and all registers or records of the Independent Registrar and at the BVI Registry, to secure the first ranking of the Pledge as contemplated in Section 3.04 (First Ranking Security) and Section 5.01 (First Ranking Pledge) of the Participation Interest Pledge Agreement.

  • The issue of these shares was the subject of the shareholder approvals which were obtained at the Company’s general meeting on 21 January 2014.▪ The release of the Secured Creditor’s registered security interest created by a General Security Deed executed on, or about, 2 May 2014 (First Ranking Security) upon completion of the repayment of the Secured Creditor through the issue of the shares referred to above.

  • Following the occurrence of an Enforcement Event, the Pledgee shall, subject to rights under the First Ranking Security, be entitled to receive and retain all Dividends and Related Assets.

  • However, the Company continues to carry on the business of renting of storage tank, trading in commodities including gold and silver and also shares and securities.Industry Structure and developmentsThere are very few organised players in the field of commodities trading and renting of storage tank.

  • The Secured Parties agree that, except as otherwise expressly provided herein, the First Ranking Security, to the extent of the First Priority Debt, including the Notes and the Bank Liabilities, shall rank in all respects prior to the Second Ranking Security.

  • This paragraph (d) shall not apply to any legal or arbitration proceeding relating to the perfection, preservation or protection of rights under the First Ranking Security Documents or the enforcement of the Security created under the First Ranking Security Documents.

  • Furthermore, upon request by the Lender, all the outstanding and issued Shares of such Material Subsidiary shall be pledged to the Lender as a First Ranking Security Interest for the Obligations.


More Definitions of First Ranking Security

First Ranking Security means any security granted by the Borrower for the purposes of
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First Ranking Security means (i) the Note Security, (ii) the Bank Security to the extent it secures First Priority Debt and (iii) each and every security now or hereafter granted in respect of all other First Priority Debt and includes all contracts and documents pursuant to which such security is now or hereafter granted or which are accessory to the granting of same;
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First Ranking Security means the pledge over the Pledged Assets to Sberbank (Switzerland) AG as a continuing first ranking security, in accordance with a share pledge agreement dated 3 February 2014.
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First Ranking Security means the first ranking security created by the First Ranking Security Documents.
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Related to First Ranking Security

  • Existing Security means any Security granted by any Person over its Assets in respect of any Relevant Indebtedness and which is existing at the relevant Issue Date or at the time any such Person becomes a Material Subsidiary or whose business and/or activities, in whole or in part, are assumed by or vested in the Issuer or a Material Subsidiary after the relevant Issue Date (other than any Security created in contemplation thereof) or any substitute Security created over those Assets (or any part thereof) in connection with the refinancing of the Relevant Indebtedness secured on those Assets provided that the principal, nominal or capital amount secured on any such Security may not be increased;

  • voting security means a security of the Company that:

  • Existing Secured Notes means the previously issued debt securities of the Issuers outstanding on the date hereof.

  • Existing Security Agreement has the meaning set forth in the recitals hereto.

  • Underlying Security means a security issued or transferred, or to be issued or transferred, in accordance with the terms of a convertible security, an exchangeable security or a multiple convertible security;

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

  • Existing Securities means, collectively, the Equity Securities and the Debt Securities.

  • Exempt Security means any security that is expressly exempted from the preclearance or reporting requirements of the Code, where applicable.

  • participating security means a security title to units of which is permitted by an operator to be transferred by means of a relevant system;

  • Bid Security means the bid security provided by the Contractor to the Authority in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security;

  • Relevant Security means the Stock, any other equity security of the Company or any of its subsidiaries and any security convertible into, or exercisable or exchangeable for, any Stock or other such equity security.

  • APM Qualifying Securities means, with respect to an Alternative Payment Mechanism or any Mandatory Trigger Provision, one or more of the following (as designated in the transaction documents for any Qualifying Capital Securities that include an Alternative Payment Mechanism or a Mandatory Trigger Provision, as applicable):

  • Controlling Secured Parties means, with respect to any Shared Collateral, the Series of First Lien Secured Parties whose Authorized Representative is the Applicable Authorized Representative for such Shared Collateral.

  • 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).

  • Outstanding Voting Securities means the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors.

  • Intercompany Note means a promissory note substantially in the form of Exhibit I.

  • Existing Senior Secured Notes means the Borrower’s $800,000,000 8.500% Senior Secured Notes due 2019, issued pursuant to the Existing Senior Secured Notes Indenture.

  • Outstanding Company Voting Securities means outstanding voting securities of the Company entitled to vote generally in the election of directors; and any specified percentage or portion of the Outstanding Company Voting Securities (or of other voting stock or voting securities) shall be determined based on the relative combined voting power of such securities;

  • Existing Senior Notes means the Existing 2020 Senior Notes and the Existing 2021 Senior Notes, collectively.

  • Controlling Securities means (i) the Class A Notes so long as the Class A Notes are outstanding, (ii) after the Class A Notes are no longer outstanding, the Class B Notes so long as the Class B Notes are outstanding and (iii) after the Class B Notes are no longer outstanding, the Class C Notes so long as the Class C Notes are outstanding.

  • Permitted Convertible Indebtedness Call Transaction means any Permitted Bond Hedge Transaction and any Permitted Warrant Transaction.

  • Intercompany Notes means, with respect to each Pledgor, all intercompany notes described in Schedule 11 to the Perfection Certificate and intercompany notes hereafter acquired by such Pledgor and all certificates, instruments or agreements evidencing such intercompany notes, and all assignments, amendments, restatements, supplements, extensions, renewals, replacements or modifications thereof to the extent permitted pursuant to the terms hereof.

  • Underlying Securities Indenture As set forth in Schedule I.

  • Subsidiary Security Agreement means the Subsidiary Security Agreement executed and delivered by existing Subsidiary Guarantors and Administrative Agent on the Closing Date and to be executed and delivered by any additional Subsidiary Guarantors from time to time thereafter in accordance with subsection 6.8, substantially in the form of Exhibit XVII annexed hereto, as such Subsidiary Security Agreement may be amended, supplemented or otherwise modified from time to time.

  • majority of the outstanding voting securities shall have the meaning set forth for such terms in the 1940 Act.

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