Funding 2 Security definition

Funding 2 Security means the security granted by Funding 2 under or pursuant to the Funding 2 Deed of Charge in favour of the Funding 2 Security Trustee for the benefit of the Funding 2 Secured Creditors or any of them including the security granted by Funding 2 under or pursuant to any Deed of Accession;
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Funding 2 Security means the security to be granted by Funding 2 under or pursuant to the Funding 2 Deed of Charge.
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Funding 2 Security has become enforceable in accordance with Clause 8.5 (Enforceable), the Security Trustee may, at its discretion and without notice, take such steps as it may think fit to enforce the security created pursuant to this Deed.
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Examples of Funding 2 Security in a sentence

  • Provided the Custodian is not in receipt of a Notice of Discharge delivered prior to the relevant Secured Party Notice, such Secured Party Notice shall become effective upon the delivery by the Custodian of the Form of Acknowledgment which the Custodian agrees to deliver to Funding 2, the Funding 2 Security Trustee and the Security Provider by 4:00 p.m. on the date of receipt of the Secured Party Notice.

  • Funding 2 Security will remain in force as continuing security for Funding 2 Secured Liabilities notwithstanding any settlement of account or the existence at any time of a credit balance on any Funding 2 Account or other account or any other act, event or matter.

  • In the event that the Custodian receives a Secured Party Notice from Funding 2 (in its capacity as Secured Party) and/or a Notice of Discharge on the same day on which the Custodian receives an Enforcement Notice from the Funding 2 Security Trustee, Funding 2 and the Funding 2 Security Trustee agree that the Custodian shall be under no obligation to provide an acknowledgement in respect of the Secured Party Notice and shall be under no obligation to act in accordance with the Notice of Discharge.

  • If required by the Funding 2 Security Trustee, Funding 2 will as soon as practicable notify each of the other Funding 2 Secured Creditors in accordance with this Deed of any modification, authorisation or waiver made under this Clause.

  • Funding 2 represents to the Funding 2 Security Trustee that this Deed creates those Security Interests it purports to create and is not liable to be amended or otherwise set aside on its liquidation or administration or otherwise, except that Security Interests expressed to be fixed may take effect as floating charge security.

  • As soon as reasonably practicable and in any case no later than 4:00 p.m. on such date, the Custodian shall send an acknowledgement in, or substantially in, the form attached at annex 1 of the Secured Party Notice to Funding 2, the Funding 2 Security Trustee and the Security Provider (the “Form of Acknowledgment”).

  • Funding 2 represents to the Funding 2 Security Trustee that any amounts retained by Funding 2 (other than those retained by way of profit) will be reasonably required to provide for losses or expenses arising from Funding 2's business or to maintain or enhance its creditworthiness.

  • The Funding 2 Security Trustee will not be liable to Funding 2 or any other person for any loss, costs, claims or liabilities arising in connection with its acting upon a request made under this Clause and/or any release made under this Clause.

  • This Deed will remain valid and enforceable notwithstanding any change in the name, composition or constitution of the Funding 2 Security Trustee or Funding 2 or any merger, amalgamation or consolidation by the Funding 2 Security Trustee or Funding 2 with any other corporation.

  • Each of the Security Provider, the Secured Party and (for the purposes of the delivery of the Enforcement Notice) the Funding 2 Security Trustee, shall ensure that their respective Authorised Persons treat applicable user and authorisation codes, passwords and authentication keys with due care.

Related to Funding 2 Security

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Loan Payment Date means any date on which any Bond Service Charges are due and payable.

  • Subordinate Optimal Principal Amount For any Distribution Date and any Loan Group, the sum for each Mortgage Loan in such Loan Group of (i) the Subordinate Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each such Mortgage Loan on the related Due Date, (b) the principal portion of the Purchase Price of each such Mortgage Loan to the extent it was repurchased by the Transferor pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan related to such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds (including Insurance Proceeds) allocable to recoveries of principal of Mortgage Loans related to such Loan Group that are not yet Liquidated Loans, received during the calendar month preceding the month of such Distribution Date, (ii) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the portion of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan that was not included in clause (ii) of the definition of "Senior Optimal Principal Amount" for such Distribution Date, (iii) the Subordinate Prepayment Percentage of the sum of (a) all Principal Prepayments in Full of Mortgage Loans in such Loan Group received during the related Prepayment Period and (b) all partial Principal Prepayments of Mortgage Loans in such Loan Group and applied during the related Prepayment Period and (iv) with respect to any Distribution Date prior to the Cross-Over Date only, the Subordinate Prepayment Percentage related to such Group of the Recoveries received during the related Prepayment Period; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan in such Loan Group that is not a Liquidated Loan, the Subordinate Optimal Principal Amount will be reduced on the related Distribution Date by the Subordinate Percentage of the principal portion of such Bankruptcy Loss.

  • Tranche B Note means a promissory note of the Borrower payable to any Tranche B Lender and its registered assigns, delivered pursuant to a request made under Section 2.16 in substantially the form of Exhibit A-3 hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Tranche B Loans made by such Lender to the Borrower.

  • Principal Funding Account Balance means, with respect to any date of determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Principal amount financed means the unpaid cash price balance after deducting the down payment, adding the cost of any insurance premiums required or obtained as security for or by reason of the sale of a motor vehicle under an installment sale contract, and adding other costs necessary or incidental to the sale of the motor vehicle under the contract that the seller contracts to pay on behalf of the buyer and for the amount of which the seller agrees to extend credit to the buyer and for which the buyer contracts voluntarily.

  • Equipment Note means and includes any equipment notes issued under the Indenture in the form specified in Section 2.01 thereof (as such form may be varied pursuant to the terms of the Indenture) and any Equipment Note issued in exchange therefor or replacement thereof pursuant to Section 2.07 or 2.08 of the Indenture.

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Floating Rate Security means a Debt Security that provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index specified pursuant to Section 2.03.

  • Class B Note means any of the 0.00% Asset Backed Notes, Class B, issued under the Indenture substantially in the form attached thereto as Exhibit A-3.

  • Bid Security (BS) means Earnest Money Deposit / monetary or financial guarantee to be furnished by a bidder along with its tender.

  • RMB Note means a Note denominated in Renminbi.

  • Interest Free Security Deposit/ Performance Security means interest free amount to be deposited by the Licensee with NMRC as per terms and conditions of License Agreement as a security against the performance of the License Agreement.

  • Class A-1 Interest Rate means [ ]% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Global Preferred Security means a Preferred Securities Certificate evidencing ownership of Book-Entry Preferred Securities.

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Asset-backed security means a security that is primarily serviced by the cash flows of a discrete pool of mortgages, receivables or other financial assets, fixed or revolving, that by their terms convert into cash within a finite period and any rights or other assets designed to assure the servicing or the timely distribution of proceeds to securityholders;