Secondary Collateral definition

Secondary Collateral means all property (whether real or personal) with respect to which any security interests have been granted (or purported to be granted) pursuant to any Secondary Security Document, including, without limitation, all Secondary Pledge Agreement Collateral, all Secondary Earnings and Insurance Collateral, all Secondary Collateral Vessels and all cash and Cash Equivalents at any time delivered as collateral thereunder or under the Other Credit Agreement.

Secondary Collateral shall have the meaning set forth in Section 4.02(c) herein. "Special Conditions" shall mean those conditions, if any, set forth in Section 13 of the Loan Authorization Agreement.

Secondary Collateral means all Collateral other than ABL Primary Collateral.

Examples of Secondary Collateral in a sentence

• Notwithstanding the foregoing, if any Lien on any Secondary Collateral or any Guarantor Collateral is not intended to be a first priority Lien, all references herein to a first priority Lien with respect to such Secondary Collateral or Guarantor Collateral shall be to a Lien in the priority set forth in Sections 6.E. and F.

• The Secondary Collateral Volume is made up of other collateral that fulfils the requirements according to section 2.1, which is valued in accordance with section 3.1.

• If the recipient refuses to restrict the property use to affordable housing; or fails to meet the terms in the grant agreement, Ecology will use its lien authority (Section 5.3) to recover costs incurred and will require repayment of the funds with interest.

• For such credits, a Primary Collateral Volume and a Secondary Collateral Volume can be applied (see below).

• Secondary Collateral: Any other assets of Borrower in which Lender is receiving a Lien to secure any other financial accommodations provided by Lender to such Borrower.

More Definitions of Secondary Collateral

Secondary Collateral is fully defeased in accordance with the terms thereof or is also secured by cash or Cash Equivalents in an amount (determined at the lesser of (i) carrying value in accordance with GAAP or (ii) fair market value) at least equal to the outstanding principal amount of such Secured Debt, such Secondary Collateral shall be deemed not to secure any portion of such Secured Debt for purposes of this definition.

Secondary Collateral means all of the following property and interests in property of the Revolving Loan Parties, whether now owned or existing, or hereafter created, acquired or arising and wherever located:

Secondary Collateral means (i) all goods, inventory, equipment, fixtures, furniture, use permits, liquor licenses, improvements and other personal property of Grantor, presently, or which may hereafter be, situated in or on the Premises (as such term is defined in that certain Lease Agreement by and between Grantor and Ramparts, Inc. dated as of March 23, 2017) (the “Lease Agreement”), (ii) all tangible personal property of Grantor which is now or may hereafter serve and be located in the Premises, and (iii) all proceeds therefrom. Notwithstanding the foregoing, the following shall be excluded from the Secondary Collateral (but included in the Primary Collateral): any name, copyright, trademark or other intellectual property of Grantor and equipment such as copiers, computers and point-of-sale systems with a value of not more than $10,000 that are customarily leased or financed). “Primary Collateral” means all Collateral that is not Secondary Collateral.

Secondary Collateral means “Second Lien Collateral” as defined in the Intercreditor Agreement.

Secondary Collateral means all Collateral other than the Export-Related Collateral.

Secondary Collateral means the security provided in addition to the primary security, in connection with the credit facility extended by a lending institution with no personal liability to the borrower.

Secondary Collateral means (i) second lien Mortgage Notes Collateral (ii) securities issued by REMICs, mortgage-backed debt obligation, collateralized mortgage obligations, mortgage pass-through certificates, mortgage participation certificates, and other mortgage-backed securities (other than those included within the definition of Securities Collateral); (iii) demand deposit accounts held with the FHLBNY (iv) obligations issued or guaranteed by any agency of the United States (other than those included within the definition of Securities Collateral); (v) obligations issued by any state, county, municipality or other political subdivision or any agency thereof; (vi) corporate debt securities; (vii) Federal Home Loan Mortgage Corporation and Federal National Mortgage Corporation (or their respective legal successors’) preferred stock and all other common and preferred corporate stock; (viii) promissory obligations secured by collateral other than real estate, including but not limited to automobile, co-operative and mobile home loans; and (ix) unsecured Instruments.