Intercompany Security definition

Intercompany Security means the security interest granted by the Applicant in favour of Holdco pursuant to the general security agreement dated May 1, 2013 and the hypothec granted by the Applicant in favour of Holdco pursuant to the hypothec agreement dated May 26, 2015.
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Intercompany Security means the following encumbrances, which shall be granted as security for all outstanding amounts under any Intercompany Loan granted by the Issuer to any of the Guarantors, and sub-pledged as direct Security for all outstanding amounts under the Finance Documents (to the extent applicable by law):
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Examples of Intercompany Security in a sentence

  • This Agreement has been, and each other Loan Document, the Intercompany Security Documents, the Intercompany Secured Loan Agreements and the Subordination Agreement when delivered hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto.

  • Each Borrower shall use the proceeds of such loans in accordance with the terms of the Credit Agreement and the Intercompany Security Documents.

  • Promptly upon request by the Administrative Agent or the Required Lenders, if an Event of Default occurs and is continuing and the Administrative Agent has exercised its rights and remedies pursuant to Section 8.02, (x) the Borrower will exercise its rights and remedies under the Intercompany Secured Loan Agreements and the Intercompany Security Documents and (y) the Subsidiary Guarantors will exercise their rights and remedies under the Subordination Agreement.

  • Create, incur, assume or suffer to exist any Lien upon (i) in the case of the Borrower, any of its assets and (ii) in the case of the Subsidiary Guarantors, any of the Eligible Loan Receivables or upon the Intercompany Secured Loans, other than Liens in favor of the Borrower pursuant to the Intercompany Security Documents.

  • This Agreement together with the Intercompany Security Documents represents the entire agreement of the parties and supersedes all prior agreements and understandings relating to the subject matter hereof.

  • Each Borrower has granted a first priority Lien on and pledges all of its rights, title and interest in its Eligible Loan Receivables, that, at any time of determination, are in the Borrowing Base to the Intercompany Lender as security for such loans granted under this Agreement and in connection with the Intercompany Security Documents.

  • Except for filings completed on or prior to the Closing Date and as contemplated by the Intercompany Security Documents, no filing or other action will be necessary to perfect such Liens.

  • The rights and obligations of each Subsidiary Borrower hereunder and each Grantor under the Intercompany Security Agreement shall remain in full force and effect notwithstanding the addition of any new Subsidiary Borrower as a party to this Agreement or the Intercompany Security Agreement.

  • The Company agrees that the liens and security interests of the Collateral Agent shall be senior and prior in right to the liens and security interest of Company in the Collateral (as defined in the Intercompany Security Agreement), and such priority is applicable irrespective of the order of creation, attachment or perfection of any such liens or security interests or any priority that might otherwise be available to the Collateral Agent or the Company.

  • Upon execution and delivery by the Company and a Subsidiary of an instrument in the form of Annex 1 hereto, such Subsidiary shall become a Subsidiary Borrower hereunder and a Grantor under the Intercompany Security Agreement, in each case with the same force and effect as if originally named as a Subsidiary Borrower herein or a Grantor under the Intercompany Security Agreement.

Related to Intercompany Security

  • Company Security means any class or series of equity or voting interest in the Company (but excluding any options, rights, warrants and appreciation rights relating to an equity or voting interest in the Company), including Common Shares and the Voting Share.

  • Intercompany Interest means an Interest in a Debtor held by another Debtor.

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

  • Intercompany Obligations as defined in the Guarantee and Collateral Agreement.

  • Company Security Agreement means the Company Security Agreement executed and delivered by Company on the Closing Date, substantially in the form of Exhibit XIV annexed hereto, as such Company Security Agreement may thereafter be amended, supplemented or otherwise modified from time to time.

  • Intercompany Interests means an Interest in a Debtor held by another Debtor and, for the avoidance of doubt, excludes the Existing Equity Interests.

  • Global Intercompany Note means the global intercompany note substantially in the form of Exhibit F pursuant to which intercompany obligations and advances owed by any Loan Party are subordinated to the Obligations.

  • Intercompany Loan shall have the meaning provided in Section 8.05(g).

  • Subordinated Intercompany Note means the Intercompany Subordinated Note, dated as of the Agreement Date, by and among Holdings, the Borrower and each Restricted Subsidiary of Holdings from time to time party thereto.

  • Intercompany Indebtedness means Indebtedness of Company or any of its Subsidiaries which is owing to Company or any of its Subsidiaries.

  • Permitted Intercompany Investments means Investments made by (a) a Loan Party to or in another Loan Party, (b) a Subsidiary that is not a Loan Party to or in another Subsidiary that is not a Loan Party and (c) a Subsidiary that is not a Loan Party to or in a Loan Party, so long as, in the case of a loan or advance made pursuant to this clause (c), the parties thereto are party to the Intercompany Subordination Agreement.

  • Deferred Intercompany Transaction has the meaning set forth in Treas. Reg. Section 1.1502-13.

  • 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.

  • Intercompany Receivables means all account, note or loan payables and all advances (cash or otherwise) or any other extensions of credit that are receivable by Seller or any of its Affiliates (other than the Company or its Subsidiaries) from the Bank, the Company or its other Subsidiaries.

  • Intercompany Loans shall have the meaning provided in Section 10.05(h).

  • Subordinated Intercompany Debt shall have the meaning assigned to such term in Section 6.01(e).

  • Intercompany Debt has the meaning specified in Section 7.02(d).

  • Intercompany Loan Agreement has the meaning set forth in the Purchase and Sale Agreement.

  • 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.

  • Intercompany Payables means all account, note or loan payables and all advances (cash or otherwise) or any other extensions of credit that are payable by Seller or any of its Affiliates (other than the Company or its Subsidiaries) to the Bank, the Company or its other Subsidiaries.

  • Subsidiary Stock means, with respect to any Person, the stock (or any options or warrants to purchase stock or other Securities exchangeable for or convertible into stock) of any Subsidiary of such Person.

  • Subsidiary Interests means, collectively, the issued and outstanding shares of stock of the Subsidiary Debtors as of the Petition Date and any options, warrants or other contractual rights to acquire any shares of stock of the Subsidiary Debtors as of the Petition Date.

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

  • Intercompany Claim means any Claim held by a Debtor against another Debtor.

  • Company Obligations means all Obligations of the Company.

  • Transaction Security means the Security created or expressed to be created in favour of the Security Agent pursuant to the Transaction Security Documents.