Examples of Onshore Security Documents in a sentence
The Notes will be secured by the security interest provided in the Offshore Security Documents and the Onshore Security Documents.
When each of the Onshore Security Documents is filed with, and approved by, the relevant Governmental Authority pursuant to the terms specified therein, the security interests represented thereby will be perfected.
Security Documents shall have been executed and delivered by the parties thereto and the Collateral Agent shall have received a fully executed original (or clearly legible facsimile copy) of the Offshore Security Documents and the Onshore Security Documents.
The deficiencies in the Onshore Security Documents, such as those described above, from which the Senior Participants (including the Issuer) benefit could mean that, following the occurrence of an Instructing Event and the enforcement of the Security, fewer proceeds of enforcement may be available in which the Senior Participants can share.
In addition, due to the absence of judicial precedent, it is uncertain whether a court in the Kingdom would enforce the Onshore Security Documents, such enforcement being dependent upon a court in the Kingdom determining that the underlying obligations being secured are enforceable under Saudi law and that the security which is purported to be created under the Onshore Security Documents is of a nature recognised by the laws of the Kingdom.