Luxembourg Collateral definition

Luxembourg Collateral means, in respect of a Series issued by a Luxembourg Issuer and in relation to the relevant Compartment, all the present and future assets, rights and claims such Luxembourg Issuer has or will have in relation to the Luxembourg Accounts, including, for the avoidance of doubt, securities, cash and other rights and the property held therein or credited thereto and the proceeds and products thereof and property received, receivable or otherwise distributed in respect of the Luxembourg Accounts and the property held therein and any assets from time to time subject, or expressed to be subject, to the pledge created or expressed to be created by or pursuant to Clause 6.2 of the Trust Deed or any part of those assets

Luxembourg Collateral means any and all assets and interests in assets and proceeds thereof now owned or hereafter acquired by any Luxembourg Loan Party in or upon which a Lien is granted, or purported to be granted, by such Person in favor of Agent or the Lenders under any of the Loan Documents to secure, either directly or indirectly, any of the Obligations; provided, that, the Luxembourg Collateral shall not include any Excluded Assets.

Luxembourg Collateral means, in respect of a Series issued by a Luxembourg Issuer and in relation to the relevant Compartment, all the present and future assets, rights and claims such Luxembourg Issuer has or will have in relation to the Luxembourg Accounts, including, for the avoidance of doubt, securities, cash and other

Examples of Luxembourg Collateral in a sentence

• All security rights granted in the form of a pledge over monetary claims qualify as financial collateral arrangements under the Luxembourg law on financial collateral arrangements dated August 5, 2005, as amended (the "Luxembourg Collateral Law") and the Luxembourg Collateral Law governs the creation, validity, perfection and enforcement of the Issuer Account Pledge Agreement.

• Generally, according to paragraph 2(4) of the Luxembourg Collateral Law, a security (financial collateral) may be provided in favour of a person acting on behalf of the collateral taker, a fiduciary or a trustee in order to secure the claims of third party beneficiaries, whether present or future, provided that these third party beneficiaries are determined or may be determined.

• Under the Luxembourg Collateral Law, the perfection of security interests depends on certain registration, notification and acceptance requirements.

• According to the Luxembourg Collateral Law, foreign law security interests over claims or financial instruments granted by a Luxembourg obligor will be valid and enforceable as a matter of Luxembourg law notwithstanding any Luxembourg Insolvency Proceedings (as defined below), if such foreign law security interests are similar in nature to Luxembourg security interests falling within the scope of the Luxembourg Collateral Law, where the collateral giver is located in Luxembourg.

• In addition, netting arrangements governed by the Luxembourg Collateral Act remain valid and enforceable against third parties despite the opening of insolvency proceedings.

• Regarding the possibility to grant security to securefuture obligations, the Luxembourg Collateral Act expressly provides for such possibility.

• Each of the Swing Line Loans shall be repaid in accordance with the terms of this Agreement and the Belgian Swing Line Loans shall be secured by the Belgian Collateral, the Luxembourg Swing Line Loans shall be secured by the Luxembourg Collateral and the US Swing Line Loans shall be secured by the US Collateral.

• There are no such requirements under Luxembourg law for security interests governed by the provisions of the Luxembourg Collateral Act nor for most civil law/commercial law pledges.

• Such pledges are governed by the Luxembourg Collateral Act and can be created under written private seal.

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