Purchase Money Security. Interest shall mean Liens upon tangible personal property securing loans to a Loan Party or deferred payments by a Loan Party for the purchase of such tangible personal property.
Purchase Money Security means any Encumbrance given, reserved, created, assumed or arising by operation of law, whether or not in favour of the transferor, after the date hereof to provide or secure, or to provide the Company with funds to pay the whole or any part of, the consideration for the acquisition of tangible personal property other than Inventory where:
Purchase Money Security means any Security created or to be created by the Borrower or any Obligor over or affecting any asset described in paragraph (a)(i) of the definition of “Purchase Money Indebtedness” where:
Examples of Purchase Money Security in a sentence
In the absence of any payment allocation by the Contractor, payment will be deemed to be allocated in such manner as preserves the maximum value of the Contractor’s Purchase Money Security Interest (as defined in the PPSA) in the Materials.
In the absence of any payment allocation by the Seller, payment will be deemed to be allocated in such manner as preserves the maximum value of the Seller’s Purchase Money Security Interest (as defined in the PPSA) in the Goods.
Purchaser hereby grants Vendor a Purchase Money Security Interest (as defined in applicable statute) in the Goods and all proceeds thereof.
In the absence of any payment allocation by the Supplier, payment will be deemed to be allocated in such manner as preserves the maximum value of the Supplier’s Purchase Money Security Interest (as defined in the PPSA) in the Goods.
In the absence of any payment allocation by the Vendor, payment will be deemed to be allocated in such manner as preserves the maximum value of the Vendor's Purchase Money Security Interest (as defined in the PPSA) in the products.
More Definitions of Purchase Money Security
Purchase Money Security. Interest shall mean Liens upon tangible -------------------------------- personal property securing loans to a Loan Party or deferred payments by a Loan Party in either case, for the purchase of such tangible personal property. Purchase Price shall mean, with respect to any Permitted -------------- Acquisition by the Loan Parties, the sum of (i) cash paid at closing, (ii) the amount of any deferred payments, which are not contingent on the financial performance of the business being acquired, (iii) the projected amount of any deferred payments which are contingent on the financial performance of the business being acquired following the acquisition, provided that it shall be assumed for purposes of such projection that the cash flow and other financial performance of the acquired business in each year after the acquisition date shall be the same as the financial performance of such business during the twelve (12) months preceding such date, (iv) the amount of any debt assumed or guaranteed by any Loan Party, (v) if the Loan Parties are acquiring stock of another person (whether by purchase, merger or otherwise) the amount of debt of such person outstanding after the acquisition, plus (vi) the value of any stock, securities or other consideration given by any of the Loan Parties in connection therewith. If the consideration to be paid in connection with a Permitted Acquisition includes deferred payments which are contingent on the financial performance of the acquired business after the acquisition, the Loan Parties shall compare the amount of deferred payments which the Loan Parties actually pay (or which become ascertainable if the Loan Parties can ascertain the amount of any deferred payments before paying them) with the amount which the Loan Parties projected they would pay pursuant to clause (iii) in the preceding sentence. The Purchase Price in connection with such acquisition shall be deemed to increase by the amount of such excess for purposes of determining the aggregate Purchase Price paid by the Loan Parties in connection with Permitted Acquisitions pursuant to Sections 8.02(f)(iii)(v) and 8.02(f)(iv)(x). Purchasing Bank shall mean a Bank which becomes a party to this --------------- Agreement by executing an Assignment and Assumption Agreement.
Purchase Money Security. INTEREST:
(a) Seller reserves and Customer agrees that Seller shall have a purchase money security interest in all Products and Licensed Materials heretofore supplied or hereafter supplied to Customer by Seller under this Agreement until any and all payments and charges due Seller under this Agreement including, without limitation, shipping and installation charges, are paid in full. Seller shall have the right, at any time during the Term and without notice to Customer, to file in any state or local jurisdiction such financing statements (e.g., UCC-l financing statements) as Seller deems necessary to perfect its purchase money security interest hereunder. Upon request by Seller, Customer hereby agrees to execute all documents necessary to secure Seller's purchase money security interest including without limitation, UCC-1 or such other documents Seller deems reasonably necessary. Notwithstanding the foregoing obligation of Customer to execute required security interest documents, Customer hereby irrevocably appoints Seller as its attorney-in-fact for purposes of executing and filing such financing statements and such other documents prepared by Seller or its designated agent for purposes of perfecting Seller's security interest hereunder. Customer also agrees that this Agreement may be filed by Seller in any state or local jurisdiction as a financing statement (or as other evidence of the Seller's purchase money security interest).
(b) In addition to any other remedy available to Seller as provided herein, by common law and by statute, Seller may exercise its right to reclaim all Products and Licensed Materials sold to Customer pursuant to UCC-702 or such other applicable provision as it may exist from state to state, upon discovery of Customer's insolvency, provided Seller demands in writing reclamation of such goods before ten (10) days after receipt of such goods by Customer, or if such ten (10) day period expires after the commencement of a bankruptcy case, before twenty (20) days after receipt of such goods by the Customer. Lucent Technologies Proprietary
Purchase Money Security means any Security Interest created or assumed by an Obligor to secure PMSI Obligations that extends only to the Property that the Obligor acquired or leased in incurring or assuming those PMSI Obligations, and the identifiable or traceable proceeds of that Security Interest.
Purchase Money Security. INTEREST shall mean Liens upon tangible personal property securing loans to any Loan Party or Subsidiary of a Loan Party or deferred payments by such Loan Party or Subsidiary for the purchase of such tangible personal property, provided that such security interest does not encumber any asset not thereby purchased, and provided further that such security interest does not secure obligations in excess of such purchase price or deferred payments. PURCHASING LENDER shall mean a Lender which becomes a party to this Agreement by executing an Assignment and Assumption Agreement. RECEIVABLES ENTITY shall have the meaning assigned to such term in Section 7.2.17. REFERENCE CURRENCY shall have the meaning assigned to such term in the definition of Equivalent Amount.
Purchase Money Security. Interest shall mean Liens upon tangible -------------------------------- personal property securing loans to the Borrower or deferred payments by the Borrower for the purchase of such tangible personal property. Purchasing Bank shall mean a Bank which becomes a party to this --------------- Agreement by executing an Assignment and Assumption Agreement. Ratable Share shall mean the proportion that a Bank's Commitment ------------- bears to the Commitments of all of the Banks.
Purchase Money Security means any Encumbrance given, reserved, created, assumed or arising by operation of law, whether or not in favour of the transferor, after the date hereof to provide or secure, or to provide the Company with funds to pay the whole or any part of the consideration for the acquisition of tangible or personal property other than Inventory where:
Purchase Money Security. Interest shall be discharged upon, but only upon (i) at any time (x) prior to the commencement of the Enforcement Period, full indefeasible payment of the Minimum Satellite Purchase Price and all TT&C Fees owing as at the date of payment of the final instalment of the Minimum Satellite Purchase Price, or (y) on or after the commencement of the Enforcement Period, full indefeasible payment of the Obligations; or (ii) the transfer of the Shared Satellite Interest to TMI in accordance with Section 7.8 of the Satellite Purchase Agreement; and, in each case, (iii) the request in writing for such discharge and payment of all expenses in connection therewith by the Obligor. In furtherance thereof, TMI shall, at such time and at the Obligor's request and expense, execute and deliver to the Obligor such releases and discharges as the Obligor may reasonably require.