IRB Collateral definition

IRB Collateral means any assets or facilities of the Borrower or any Restricted Subsidiary, the acquisition, lease, construction, repair or improvement of which are financed by IRBs, together with all proceeds and products thereof, contracts in relation thereof and assets ancillary thereto.
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IRB Collateral means the machinery and equipment located at the Company premises in 00 Xxxxxxx Xxxx, Xxxxx, Xxxxx Xxxxxxxx as described on Schedule VI hereto, which machinery and equipment is subject to the security interest in favor of First Union Bank now known as Wachovia Bank of North Carolina pursuant to the IRB Transaction.
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IRB Collateral means property included in the IRB Collateral as may be approved by the Collateral Agent, pursuant to the terms of the Credit Agreement.
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Examples of IRB Collateral in a sentence

  • The respective mortgagor, grantor, pledgor, or assignor, as the case may be, has good and marketable title to all of the IRB Collateral free and clear of all Liens other than Permitted Liens.

  • Each policy of insurance pertaining to any IRB Collateral shall comply with the provisions of the documents pertaining to the IRB Collateral.

  • The Parties hereby acknowledge that the security interest and liens granted to the Collateral Agent in the Collateral (except with respect to the IRB Collateral) pursuant to the Security Documents secure, first and foremost, the Seasonal Line of Credit Obligations and, second and subordinate, but equally and ratably, the Bank Obligations, the Note Obligations, and the Old Kent L/C Obligations.

  • All rights and remedies under the Security Documents and IRB Collateral Documents may be exercised by the Collateral Agent for the benefit of the Co-Agents and the Lenders and the other beneficiaries thereof upon the terms thereof.

  • All rights and remedies under the Security Documents and IRB Collateral Documents may be exercised by the Collateral Agent for the benefit of the Domestic Agent and the Lenders and the other beneficiaries thereof upon the terms thereof.

  • The Parties hereby further acknowledge that, with respect to the IRB Collateral, such collateral secures, first and foremost, the IRB Obligations; second, the Seasonal Line of Credit Obligations, and third and subordinate, but equally and ratably, the Bank Obligations, the Note Obligations, and the Old Kent L/C Obligations.

  • No consent or authorization of, or filing with, any Person (including, without limitation, any governmental authority), is required in connection with the execution, delivery or performance by any Credit Party, or the validity or enforceability against any Credit Party, of the Credit Documents, other than (i) such consents, authorizations or filings which have been made or obtained, and (ii) customary filings to perfect the Liens in favor of the Collateral Agent granted in the IRB Collateral Documents.

  • Nothing herein shall be deemed to constitute a waiver by any Creditor Party of any right it may have to challenge the perfection or priority of the security interest of the holders of the IRB Obligations in the IRB Collateral.


More Definitions of IRB Collateral

IRB Collateral means, collectively, all real property, fixtures, and personal property (tangible and intangible) comprising a project of an L/C Account Party financed in whole or in part by industrial development revenue bonds issued in respect of such project.
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IRB Collateral means property included in the IRB Collateral (as defined in the Credit Agreement) as may be approved by the Credit Agreement Agent pursuant to the terms of the Credit Agreement.
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IRB Collateral means the collateral mortgaged, pledged or otherwise encumbered to secure the IRB Obligations pursuant to (i) that certain Deed of Trust dated as of July 1, 1984 granting security interest in certain real property located in Hollx Xxxge, Onslow County, North Carolina; (ii) that certain Security Agreement dated as of July 1, 1984 granting security interests in certain tangible personal property and fixtures then or thereafter located at the Company's facility in Hollx Xxxge, North Carolina; (iii) that certain Mortgage dated July 13, 1993 granting a security interest in certain real property located in the City of Forrxxx Xxxy, St. Franxxx Xxxnty, Arkansas, (iv) that certain Financing Statement and Security Agreement granting security interests in certain equipment, machinery, furnishings, fixtures and personalty then owned or thereafter acquired with the proceeds of certain of the IRB Obligations, and (v) that certain Mortgage and Security Agreement dated as of July 1, 1993 granting security interests in certain real property located in the City of Forrxxx Xxxy, St. Franxxx Xxxnty, Arkansas and in certain specified items of machinery and equipment.
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Related to IRB Collateral

  • U.S. Collateral means any and all property owned, leased or operated by a Person covered by the U.S. Collateral Documents and any and all other property of any U.S. Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Secured Obligations.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • Shared Collateral means, at any time, Collateral in which the holders of two or more Series of First-Lien Obligations hold a valid and perfected security interest at such time. If more than two Series of First-Lien Obligations are outstanding at any time and the holders of less than all Series of First-Lien Obligations hold a valid and perfected security interest in any Collateral at such time, then such Collateral shall constitute Shared Collateral for those Series of First-Lien Obligations that hold a valid security interest in such Collateral at such time and shall not constitute Shared Collateral for any Series which does not have a valid and perfected security interest in such Collateral at such time.