Physical Possession Collateral definition

Physical Possession Collateral is defined in Section 3.5 below.
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Examples of Physical Possession Collateral in a sentence

  • Notwithstanding the foregoing, Customer may not use or dispose or all or part of Physical Possession Collateral or the proceeds thereof, except upon the De-Pledging of such Physical Possession Collateral in accordance with Section 3.6 below.

  • Seattle Bank may require such arrangements irrespective of whether the Eligible Collateral has been designated as Listed Collateral or Physical Possession Collateral under Sections 3.4 or 3.5 below.

  • At such other times as Seattle Bank may request, Customer will deliver to Seattle Bank periodic status reports and accompanying schedules, in form and content acceptable to Seattle Bank, describing the status of the Physical Possession Collateral.

  • At Seattle Bank’s sole discretion, all proceeds the Physical Possession Collateral, including without limitation all payments made under the loans or securities constituting Physical Possession Collateral, shall be held separate from Customer’s other monies in one or more designated Accounts maintained at Seattle Bank.

  • Until Physical Possession Collateral is De-Pledged in accordance with Section 3.6 below, such physical possession by Seattle Bank or its approved custodian shall be maintained with respect to such Physical Possession Collateral.

  • Seattle Bank may apply such monies to the payment of Indebtedness as it becomes due, or hold such monies as part of its Physical Possession Collateral, subject to De-Pledging under the terms and conditions of Section 3.6 below.

Related to Physical Possession Collateral

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

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • UCC Collateral is defined in Section 3.03.

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • Personal Property Collateral means all Collateral other than Real Property.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • 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.

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Guarantor Collateral all of the property (tangible or intangible) purported to be subject to the lien or security interest purported to be created by any security agreement, pledge agreement, assignment, mortgage, deed of trust or other security document heretofore or hereafter executed by any Guarantor as security for all or part of the Obligations or the Guarantees.

  • Loan Collateral With respect to any Mortgage Loan, the related Mortgaged Property and any personal property securing the related Mortgage Loan, including any lessor’s interest in such property, whether characterized or recharacterized as an ownership or security interest, and including any accounts or deposits pledged to secure such Mortgage Loan, and any Additional Collateral.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Second Lien Collateral means all “Collateral”, as defined in any Second Lien Document, and any other assets of any Grantor now or at any time hereafter subject to Liens which secure, but only to the extent securing, any Second Lien Obligations.

  • Security Property means all right, title and interest in, to and under any Security Document, including:

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit S, with such amendments, modifications or supplements as may be approved by Collateral Agent.

  • As-Extracted Collateral means “as-extracted collateral” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York.

  • Negotiable Collateral means all of Borrower’s present and future letters of credit of which it is a beneficiary, drafts, instruments (including promissory notes), securities, documents of title, and chattel paper, and Borrower’s Books relating to any of the foregoing.

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

  • Canadian Collateral means any and all property of any Canadian Loan Party covered by the Collateral Documents and any and all other property of any Canadian 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 Canadian Secured Obligations.

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

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

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