General Security definition

General Security or under any other credit, loan or security agreement to which the Borrower and/or any guarantor is a party;

General Security means a general security over the assets of the Company given under a General Security Agreement in the Auckland District Law Society’s standard form.

General Security entitlement means an entitlement under the Water Act 1912 which contains a condition specifying that an amount of water taken under the licence is “low security”.

Examples of General Security in a sentence

• A General Security Agreement with a floating charge on land registered in Alberta is held as collateral by the bank.

• Such further Notes, if constituted as a General Series, shall be secured on, and only on, the General Charged Assets and on terms that provide for the extinction of all claims in respect of such Notes after application of the proceeds of enforcement of the General Security (or arrangements have been entered into that, to the satisfaction of the Trustee, have a like result).

• The credit facility is secured by a General Security Agreement constituting a first ranking security interest in all personal property of the Company, with a conventional rate of interest.

• Claims in respect of any difference between the amount of the net proceeds of the General Security after enforcement thereof and the amount which would otherwise have been payable under the Notes and Coupons (if any) of any General Series (a “shortfall”) shall be extinguished and failure to make any payment in respect of any such shortfall shall in no circumstances constitute a General Event of Default.

• The Mortgage was subject to interest, at a rate of 12% per annum, calculated monthly, and a General Security Agreement against the High River Property, including all physical improvements but excluding intellectual property.

More Definitions of General Security

General Security on page 7 of the Commitment Letter shall secure Credit no.: 01 under the Commitment Letter (being the non-revolving credit (the "Non-Revolving Credit") in the principal amount of $20,000,000) and not Credit nos.: 02 and 03 (being the standby letters of credit facilities and herein referred to as the "Letter of Credit Facilities"). The Letter of Credit Facilities shall be secured only by the Specific Security (the "L/C Specific Security") referred to on pages 5 and 6 of the Commitment Letter, respectively, and the General Security shall not attach to the cash collateral which forms part of the L/C Specific Security.

General Security means each and every Security Interest conferred by the Security Documents other than the Asset Option Security, CTA Bond Security and the Revenue Security.

General Security. Where applicable, the General Security Agreement to be executed by the Borrower in relation to the Trade Financing Facilities granted to the Borrower by the Bank herein upon terms and conditions contained therein acceptable to the Bank and referred to in Section 5.01 hereof.

General Security or under any other credit, loan or security agreement to which the Borrower is a party which shall have continued for a period of 10 days after written notice thereof has been provided to the Borrower and MDS Inc.;

General Security means an unconditional undertaking for $400,000 as at the date of this Agreement adjusted annually in accordance with clause 24.3.

General Security. You understand the importance of your role in preventing misuse of your account(s) and you agree to promptly examine your eStatement as soon as you receive it. You agree to protect the confidentiality of your account(s) and account numbers, and your personal identification information. If you suspect that your security code has been compromised, you agree to access the system and change it, or contact us as soon as possible. Password Security: For security reasons, we will require the use of an individualized password to gain access to your account statement(s) through eStatements. Your password requirements are:

General Security or under any other credit, loan or security agreement to which the Borrower is a party;