Perfection Action definition

Perfection Action means (i) in the case of any Lease, the actions required to perfect the Security Trustee’s interest in such Lease (which, in respect of an Allegiant Lease, shall be as set forth in Section 7.03(i)), and (ii) in the case of any Aircraft, the actions required to perfect the Security Trustee’s interest in such Aircraft (which, in respect of an Aircraft registered with the FAA, shall be as set forth in Section 7.03(i)).
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Perfection Action means the delivery of possession of items of (or evidencing) Collateral, causing other Persons to execute and deliver Perfection Documents as appropriate, the filing or recordation of Perfection Documents, the establishment of control over items of Collateral, and the taking of such other actions as may be necessary or advisable in the determination of the Collateral Agent to create, enforce, protect, perfect, or establish or maintain the priority of, the security interest of the Collateral Agent for the benefit of the Secured Creditors in the Collateral.
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Perfection Action has the meaning given such term in Section 4.
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Examples of Perfection Action in a sentence

  • Notwithstanding anything in this Section 7.13, no Credit Party shall be required to take any Excluded Perfection Action.

  • Notwithstanding anything in this clause (vii), no Credit Party shall be required to take any Excluded Perfection Action.

  • Nothing contained herein shall be deemed to require the Revolving Administrative Agent to request any Perfection Action with respect to any Deposit Account or certificate of deposit.

  • Without limiting the generality of the foregoing, in the case of a certificate of deposit described in clause (x) above, such Perfection Action may (in the reasonable discretion of, and upon request by, the Revolving Administrative Agent) include a requirement that such certificate of deposit be issued as or converted to a negotiable instrument and that such certificate be delivered to the Revolving Administrative Agent together with a duly executed undated assignment in blank affixed thereto.

  • Without limiting the generality of the foregoing, in the case of a certificate of deposit described in clause (x) above, such Perfection Action may (in the reasonable discretion of, and upon request by, the Administrative Agent) include a requirement that such certificate of deposit be issued as or converted to a negotiable instrument and that such certificate be delivered to the Administrative Agent together with a duly executed undated assignment in blank affixed thereto.

  • Nothing contained herein shall be deemed to require the Administrative Agent to request any Perfection Action with respect to any Deposit Account or certificate of deposit.

  • Notwithstanding anything to the contrary herein, no Perfection Action will be required with respect to any Collateral for which the cost of perfecting the security interest in such Collateral exceeds the practical benefit to the Secured Parties as reasonably determined in good faith by the Secured Parties.

  • At the Agent’s request, each Loan Party shall also promptly execute or cause to be executed and shall deliver to the Agent any and all documents, instruments and agreements deemed necessary by the Agent to give effect to or carry out the terms or intent of the Loan Documents, provided that no Loan Party shall be required to take any Excluded Perfection Action.

  • Notwithstanding anything to the contrary contained herein, the Pledgors shall not be required to provide physical Collateral or to otherwise perfect a security interest in any Collateral to the extent constituting an Excluded Perfection Action.

  • In the case of electronic Chattel Paper (including the electronic components of hybrid Chattel Paper), no Grantor shall create or acquire any such Chattel Paper unless, prior to such acquisition or creation, it shall have taken such Perfection Action as the Collateral Agent may require to perfect by control the security interest of the Collateral Agent for the benefit of the Secured Creditors in such Collateral.

Related to Perfection Action

  • Collection Action means any of the following:

  • UCC Filing Collateral means any Collateral, including Collateral constituting investment property, for which a security interest can be perfected by filing a UCC-1 financing statement.

  • Perfection Certificate is defined in Section 5.1.

  • Excluded Perfection Assets means, collectively:

  • Enforcement Action means any action to enforce any Obligations or Loan Documents or to exercise any rights or remedies relating to any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment, exercise of any right to vote or act in a Loan Party’s Insolvency Proceeding, or otherwise), in each case solely to the extent permitted by the Loan Documents.

  • Perfection Certificates is defined in Section 5.1.

  • Perfection Requirements means the making or procuring of filings, stampings, registrations, notarisations, endorsements, translations and/or notifications of any Finance Document (and/or any Security created under it) necessary for the validity, enforceability (as against the relevant Obligor or any relevant third party) and/or perfection of that Finance Document.

  • Perfection Representations means the representations, warranties and covenants set forth in Schedule 1 attached hereto.

  • Agent’s Liens means the Liens granted by each Loan Party or its Subsidiaries to Agent under the Loan Documents and securing the Obligations.

  • Collateral and Guarantee Requirement means, at any time, the requirement that:

  • Perfection Requirement or “Perfection Requirements” shall have the meaning set forth in Section 4(j) of this Agreement.

  • Second Priority Collateral Documents means the Initial Second Priority Collateral Documents and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any Grantor for purposes of providing collateral security for any Second Priority Debt Obligation.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • Transaction Liens means the Liens granted by the Lien Grantors under the Security Documents.

  • ABL Collateral Documents means all “Security Documents” as defined in the Original ABL Credit Agreement, and all other security agreements, mortgages, deeds of trust and other collateral documents executed and delivered in connection with any ABL Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed, in each case as the same may be amended, supplemented, waived or modified from time to time.

  • Pledge Agreement Collateral means all "Collateral" as defined in the Pledge Agreement.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Delaware UCC means the Uniform Commercial Code as in effect in the State of Delaware from time to time.

  • Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien Debt Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or pursuant to which any such Lien is perfected.

  • First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.

  • Supplemental Perfection Certificate means a certificate substantially in the form of Exhibit G or any other form approved by the Administrative Agent.

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

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Perfection Certificate Supplement means a certificate supplement in the form of Exhibit L-2 or any other form approved by the Collateral Agent.