Examples of PP&E Collateral in a sentence
During the Liquidation Period, the Financing Agent may use and occupy the PP&E Collateral without force or process of law and without any obligation to pay rents, royalties or other fees to the Collateral Agent, the Trustee or any Noteholder, except for payment or reimbursement of costs and expenses as set forth in Section 19(D).
The Financing Agent shall not contest the validity, perfection, priority or enforceability of any security interest or lien in the PP&E Collateral granted to the Collateral Agent by any Credit Party under the Indenture Debt Documentation.
Notwithstanding the foregoing, the Collateral Agent agrees that it shall not exercise any remedies available to it under the applicable security documents or any other remedies otherwise permitted by applicable law with respect to the PP&E Collateral during (a) any Liquidation Period (as defined in Section 19) or (b) any period commencing on the date of the receipt by the Financing Agent of a written notice from the Collateral Agent pursuant to Section 17 and ending ninety (90) days thereafter.
The license to use and occupy the PP&E Collateral during the Liquidation Period shall apply to and for the benefit of the Financing Agent and any agents, brokers, appraisers, auctioneers or liquidators retained by the Financing Agent.
Without derogating the provisions of subsection 2.4B(iii)(f), in connection with the sale of all or any portion of the Refinery Assets, prior to the consummation of any such sale, Borrowers shall provide Agent with the proposed allocation of the consideration to be received as between PPE Collateral, Pari Passu Collateral and Working Capital Collateral, which proposed allocation shall be subject to Agent's reasonable approval.
Coverage shall be written for the then current Stipulated Loss Value for the Equipment and for replacement cost value in an amount acceptable to Lessor for the PPE Collateral.
Lessor shall be entitled, upon reasonable advance notice, to review Lessee's insurance policies carried and maintained with respect to the Equipment and the PPE Collateral and Lessee's obligations under this Section 19.01.
Lessee shall maintain all risk property insurance covering each and every component of the Equipment and the tangible PPE Collateral against physical loss or damage, including but not limited to fire and extended coverage, collapse, flood, earth movement and comprehensive boiler and machinery coverage (including electrical malfunction and mechanical breakdown).
The foregoing notwithstanding, if any replacement part shall have been PPE Collateral, the replaced part, upon release from this Lease, shall be subject to the Security Agreement and constitute PPE Collateral.
Lessee shall maintain a system of identification number tagging on each Component and each item of tangible PPE Collateral which will identify the asset number as set forth in Schedule 1 to the Bxxx of Sale or in Exhibit A to the Security Agreement, as the case may be.