Fully Secured definition

Fully Secured means either the Loan to Security Ratio does not exceed 80 per cent, or the Facility is fully mortgage insured with a lender’s mortgage insurer acceptable to ANZ and the Loan to Security Ratio does not exceed 90 per cent;

Fully Secured means, with respect to any Undrawn L/C Obligations as of any date, that, on or before such date, such Undrawn L/C Obligations shall have been secured by the grant to the Issuing Lender by the Borrower of a first priority, perfected security interest in, and Lien on, (a) cash or Cash Equivalents in an amount at least equal to the excess, if any, of the amount of such Undrawn L/C Obligations over the amount of the Total Revolving Credit Commitments on such date or (b) other collateral security which is acceptable to the Issuing Lender.

Fully Secured means, with respect to any Undrawn L/C Obligations as of any date, that, on or before such date, such Undrawn L/C Obligations shall have been secured by the grant to, or for the benefit of, the relevant Issuing Lender by the Company of a first priority, perfected security interest in, and Lien on, (a) cash or Cash Equivalents in an amount at least equal to the Equivalent in Dollars of 105% of the amount of such Undrawn L/C Obligations or (b) other collateral security which is acceptable to such Issuing Lender and the Administrative Agent.

Examples of Fully Secured in a sentence

• Arrearage Arrearage PaymentEnter Information3.2 Request for Valuation of Security, Payment of Fully Secured Claims, and Modification of Undersecured Claims (Complete if applicable and check “Yes” in Section 1.1. The following provisions will be effective only if there is a check in the “Yes” box in Section 1.1.)For each creditor listed in this section, the “Secured Amount” was calculated by valuing the creditor’s collateral and subtracting superior liens.

• John Deere Credit shall retain its liens in the equipment collateral described in the pre-petition loan and security agreements and in the proceeds thereof.This claim is Fully Secured.

• This Plan provides for the treatment of the Allowed Bank Group Claim of approximately $240 million of principal (plus accrued interest and reasonable fees and expenses) as a Fully Secured Claim.

• Amounts held in such Cash Collateral Account shall be applied by the Multi-Currency Administrative Agent (in such order as it shall elect) to the payment of the Payment Obligations on account of the Letters of Credit which are then or thereafter due and payable and to cause any then-outstanding Undrawn L/C Obligations to be Fully Secured.

• Again, a Fully Secured Loan (FSL) of Rs. 5 Crores was sanctioned on 30.12.2010.

More Definitions of Fully Secured

Fully Secured means a first priority charge on the property, the value of which is greater than or equal to the amount of the loan. A second charge may also be included where an Authorised Firm already has a first priority charge on the property concerned.

Fully Secured means that the Optionee shall have created in favor of the Corporation a perfected security interest in (i) the Shares acquired upon exercise of the Related Option as security for such portion of the Loan equal to the Margin Loan Amount and (ii) Other Collateral that has a Fair Market Value equal to the amount of the remaining portion of the Loan (including any portion attributable to Tax Payments).

Fully Secured means, with respect to any Letter of Credit as of any date, that, on or before such date, the Undrawn L/C Obligations with respect to such Letter of Credit shall have been secured by the grant to an Issuing Lender with respect to such Letter of Credit by the Borrower of a first priority, perfected security interest in, and Lien on, cash in an amount and pursuant to documentation satisfactory to such Issuing Lender with respect to such Letter of Credit.

Fully Secured. “100% secured,” “fully insured,” “secure,” “safe,” “backed by rated insurance company(s),” “backed by federal and/or state law,” or similar representations;

Fully Secured means the value of property should be greater than or equal to the value of the loan (ie maximum loan to value of 100%). There is no requirement to revalue properties on a regular basis, but where such a valuation has found that the loan to value ratio exceeds 100% such loans should be weighted at 100%. (However, if the shortfall in the security value is fully covered by a specific or individual provision, the net amount of the exposure may continue to be weighted at 50%.) Conversely, where revaluation indicates that the loan to value ratio has fallen to 100% the loan may be weighted at 50%. (b) … Part 2: amendments to Volume 2 of the Interim Prudential sourcebook for Banks Chapter LE LARGE EXPOSURES…4 KEY DEFINITIONS: LARGE EXPOSURES CAPITAL BASE, LARGE EXPOSURES AND EXPOSURES…4.4 Reducing an exposure…4.4.4 Bad debt provisions 11 An exposure reported at book value should be gross of specific/individual provisions for bad and doubtful debts. Similarly, where an exposure is marked to market the valuation is typically gross of any provisions. However, for monitoring against limits, a specific/individual provision made against a loan should be set off against the gross amount of the exposure.

Fully Secured means if the lender has taken security interests in all available fixed assets with a combined “net book value” up to the loan amount.

Fully Secured means, with respect to any Undrawn L/C Obligations as of any date, that, on or before such date, such Undrawn L/C Obligations shall have been secured by the grant to the relevant Issuer by Toy Biz of a first priority, perfected security interest in, and Lien on, (a) cash in an amount at least equal to the excess of the amount of such Undrawn L/C Obligations over the amount of the Aggregate Commitment on such date or (b) other collateral security which is acceptable to such Issuer and the Majority Banks;