Secured Period definition

Secured Period means the period included between the date of execution of this Deed and the date when:

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Secured Period means the period beginning on the date of this Agreement and ending on the date upon which the Secured Obligations have been unconditionally and irrevocably paid and discharged in full to the Lender or to any other entity indicated the Lender.

Secured Period means the period beginning on the Closing Date or a Collateral Trigger Date, as applicable, and ending on the earlier of (a) the applicable Collateral Trigger Termination Date and (b) the date on which all Liens held by the Administrative Agent for the benefit of the Secured Parties are released pursuant to Section 9.19.

Examples of Secured Period in a sentence

• Upon failure by the Company punctually to pay or perform any Guaranteed Obligation when due, after the expiration of any applicable grace period, the Secured Period may make demand upon the Guarantor for the payment or performance of such Guaranteed Obligation and the Guarantor binds and obliges itself to make such payment or performance forthwith upon such demand.

• Create or suffer to exist any Lien, or cause any other Person to create or suffer to exist any Lien, upon (i) during the Unsecured Period, the Unencumbered Shares and (ii) during the Secured Period, any of the Collateral, other than Liens granted to the Lender to secure the obligations hereunder.

• So long as a Secured Period is then in effect, subject to the Intercreditor Agreement, the Company shall not take or omit to take (or permit to be taken or omit to be taken) any action that would adversely affect or impair in any material respect the Liens in favor of the Collateral Agent with respect to the Collateral.

• During any Secured Period, the Grantors will advise the Trustee promptly, but in any case not later than 20 days after learning of the existence thereof (or after the commencement of such Secured Period, if later), in reasonable detail, of any Lien (other than Permitted Liens) or claim made or asserted against any of the Collateral.

• The period of time during which a Letter of Credit is required to remain in effect under this Agreement is herein called the "Secured Period." If the Company does not establish or renew a Letter of Credit as required by Section 1 and this Section 6, the payment of all amounts described in Section 1 shall be accelerated in accordance with Section 8 hereof.

More Definitions of Secured Period

Secured Period means the period commencing on the date that the Extension Conditions have been satisfied to Lender’s satisfaction and ending on the Extended Maturity Date.

Secured Period means the period beginning on the Closing Date or a Collateral Trigger Date, as applicable, and ending on the earlier of (a) the applicable Collateral Trigger Termination Date and (b) the date on which all Liens held by the Administrative Agent for the benefit of the Secured Parties are released pursuant to Section 9.19 .

Secured Period means the period beginning on the date hereof and ending on the first anniversary of the full and unconditional discharge of the Secured Liabilities described under paragraph (a) of the definition of Secured Liabilities, provided that if in the meantime the Assignor or any third party who has made payments discharging the Secured Liabilities described under paragraph (a) of the definition of Secured Liabilities, on behalf of the Assignor is adjudicated bankrupt or submitted to any insolvency proceedings which may trigger the applicability of article 65 or article 67 of the Insolvency Law (or any similar provision under any applicable law), such term shall be extended until no revocatory action can be exercised;

Secured Period means (i) the period commencing on the Issue Date, if any, and ending on such date, if any, as the Note Liens on all of the Collateral are, or are required to be, released pursuant to Section 11.06(a), and (ii) any subsequent period commencing on any subsequent Lien Attachment Date, if any, and ending on such date, if any, as the Note Liens on all of the Collateral are, or are required to be, released pursuant to Section 11.06(a). Notwithstanding anything to the contrary in the immediately preceding sentence, no Secured Period shall arise following the release of any Note Liens pursuant to Section 11.06(b).

Secured Period means (i) the period commencing on the initial Lien Attachment Date, if any, and ending on such date, if any, as the Note Liens on all of the Collateral are, or are required to be released pursuant to Section 11.6(a), and (ii) any subsequent period commencing on any subsequent Lien Attachment Date, if any, and ending on such date, if any, as the Note Liens on all of the Collateral are, or are required to be released pursuant to Section 11.6(a).

Secured Period means the period of time commencing on the date of this Indenture and continuing until the latest date specified in a Supplemental Indenture under which obligations of BC Ferries exist.

Secured Period means the period beginning on the date of the Proceeds Deed and ending on the date upon which the whole of the Secured Liabilities have been unconditionally and irrevocably paid and discharged in full.