Retention of Collateral definition

Retention of Collateral. Provided that the Secured Party gives notice to the Debtor, and the Debtor fails to object within twenty-one (21) days of receipt of such notice, the Secured Party may retain in satisfaction of Debtor's obligation that portion of the Collateral that has a "fair value," as defined in Paragraph 3.3, equal to the amount of indebtedness that the Debtor has failed to pay in accordance with the terms of the Promissory Note and this Agreement.
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Examples of Retention of Collateral in a sentence

  • Nowka, Validating a Debtor’s Retention of Collateral by Continuing Performance: Removing the Obstructions of 11 USC § 521(2)(A) and Ipso Facto Clauses, 6 J.

  • Rapson, Default and Enforcement of Security Interests Under Revised Article 9 879 4.1 Secured Party's Retention of Collateral and 6 Del.

  • Revised Article 9 grants a secured party several basic remedies: (1) Collection and Enforcement;(2) Repossession and Disposition of Collateral; (3) Retention of Collateral; or (4) an action for the Debt.

  • In addition, the Plans Engineer's signature shall be placed above the District Executive's signature, see Chapter 15, Section 15.2, Plate B-VIII.

  • Debtor has received Notice of Retention of Collateral from Secured Party dated November 11, 1998, a copy of which is attached hereto as Exhibit 4 (the "Notice") and desires to relinquish all rights, claims and interests in and to the Collateral in consideration of any claims for a deficiency judgment, $ 10 and other good and valuable consideration, the receipt and sufficiency of which is acknowledged by the parties.

Related to Retention of Collateral

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • 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.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

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

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

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

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • 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.

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

  • Control Collateral means any Collateral consisting of any Certificated Security (as defined in Section 8-102 of the Uniform Commercial Code), Investment Property, Deposit Account, Instruments and any other Collateral as to which a Lien may be perfected through possession or control by the secured party, or any agent therefor.

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

  • 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.

  • Schedule of Collateral Obligations means the list or lists of Collateral Obligations attached to each Asset Approval Request and each Reinvestment Request. Each such schedule shall identify the assets that will become Collateral Obligations, shall set forth such information with respect to each such Collateral Obligation as the Borrower or the Facility Agent may reasonably require and shall supplement any such schedules attached to previously-delivered Asset Approval Requests and Reinvestment Requests.

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

  • U.S. Collateral Agreement means the U.S. Guarantee and Collateral Agreement, as amended, supplemented or otherwise modified from time to time, in the form of Exhibit E, among Holdings, Intermediate Holdings, the U.S. Borrower, each Domestic Subsidiary Loan Party and the Collateral Agent.

  • Combined Collateral LLC: Combined Collateral LLC, a Delaware limited liability company.

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

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

  • 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.

  • 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.

  • Primary Collateral With respect to any Cross-Collateralized Mortgage Loan, any Mortgaged Property (or portion thereof) designated as directly securing such Cross-Collateralized Mortgage Loan and excluding any Mortgaged Property (or portion thereof) as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such Cross-Collateralized Mortgage Loan.

  • UCC Collateral is defined in Section 3.03.

  • Account Collateral means, with respect to each Account, such Account, together with all cash, securities, Financial Assets and investments and other property from time to time deposited or credited to such Account and all proceeds thereof, including, with respect to the Reserve Fund, the Reserve Fund Deposit and the Reserve Fund Amount.

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

  • Request regarding a list of collateral means a record authenticated by a debtor requesting that the recipient approve or correct a list of what the debtor believes to be the collateral securing an obligation and reasonably identifying the transaction or relationship that is the subject of the request.

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