Secured Portion definition

Secured Portion means, at any time, a portion of the Obligations consisting of the obligation to deliver cash or property with a value, as determined by the Calculation Agent (as defined in the Securities Contract), equal to the value, as determined by the Calculation Agent in a consistent manner, of the Collateral then pledged to the Beneficiary under the Pledge Agreement.
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Secured Portion means the Sterling Equivalent Amount of the Applicable Collateral Percentage of the aggregate outstanding amount available to be drawn down under the Letters of Credit.
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Secured Portion means, as of any date of determination, the outstanding principal amount of loans equal to (a) with respect to the loans under all Credit Facilities, the sum of $1,005,000,000 minus the principal amount of the Secured Portion of loans under the Credit Facilities that have been repaid after the Amendment Effective Date, (b) with respect to Revolving Credit Loans (and excluding for the avoidance of doubt Letter of Credit Obligations, which are included in the Unsecured Portion), the sum of $487,500,000 minus the principal amount of the Secured Portion of Revolving Credit Loans that have been repaid after the Amendment Effective Date, and (c) with respect to Term Loans, the sum of $262,500,000 minus the principal amount of the Secured Portion of Term Loans that have been repaid after the Amendment Effective Date provided that from and after the occurrence of the Security Release Trigger, the Secured Portion shall equal zero (0) and none of the Obligations under this Agreement and the other Credit Facility shall constitute the Secured Portion.>
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Examples of Secured Portion in a sentence

  • Such security may be enforced if the Issuer defaults on certain obligations under the Notes and, in such circumstances, any net proceeds realised upon enforcement of the security will be applied in or towards satisfaction of the claims of, among others, the security trustee (the "Trustee") and any appointee and/or receiver appointed by the Trustee in respect of the relevant Secured Notes before the claims of the holders of the relevant Secured Notes in respect of the Secured Portion.

  • As can be seen in figure 5.1 the elucidated values differ from each other.

  • Certain Notes ("Secured Notes") have the benefit of security granted by the Issuer over a pool of collateral (a "Collateral Pool") (which may be comprised of cash and/or government bonds and/or senior or subordinated debt obligations of specified entities).If a Series of Notes is specified in the applicable Pricing Supplement as being Secured Notes, the applicable Pricing Supplement will also specify the proportion of such Note which is secured (the "Secured Portion").

  • If a Series of Notes is specified in the applicable Pricing Supplement as being Secured Notes, the applicable Pricing Supplement will also specify the proportion of such Note which is secured (the "Secured Portion").

  • On the Effective Date and in addition to the reimbursement described in Article V.R of this Plan, each holder of an Allowed Prepetition Term Loan Claim (Secured Portion) shall receive, in full satisfaction, settlement, discharge and release of, and in exchange for, such Allowed Class 5 Claim, its Pro Rata share of 100% of the New Equity Interests Pool (subject to dilution by the New Management Incentive Plan Equity).

  • Israel has agreed to pledge certain collateral as security for the repayment of the Unguaranteed Secured Portion, as more fully described in Note 4.

  • Class 5 consists of the Prepetition Term Loan Claims (Secured Portion).

  • Class 4 consists of the Prepetition Credit Agreement Claims (Secured Portion).

  • Certain Notes ("Secured Notes") have the benefit of security granted by the Issuer over a pool of collateral (a "Collateral Pool") (which may be comprised of cash and/or government bonds and/or senior or subordinated debt obligations of specified entities).If a Series of Notes is specified in the applicable Final Terms as being Secured Notes, the applicable Final Terms will also specify the proportion of such Note which is secured (the "Secured Portion").

  • In accordance with the Collateral Depository Agreement (the “Depository Agreement”) between Israel, the Trustee, and Chase Manhattan Bank, as depository (the “Depository”), and in order to provide security for the payment of the Unguaranteed Secured Portion, Israel has pledged certain collateral, consisting of non-callable securities issued or guaranteed by the United States Government (together with the proceeds thereof, the “Collateral”).


More Definitions of Secured Portion

Secured Portion means, in relation to any Covered Series, the portion of the Notes which have the benefit of the Security (as specified in the applicable Pricing Supplement or Final Terms);
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Secured Portion of the membership interests shall equal a percentage equal to 100 times (a) the original balance of the Promissory Note, less the sum of amounts paid in cash by Pledgor under the Promissory Note and the amount of gross cash proceeds received by Secured Party through sales of common stock obtained as payment or upon conversion of the Promissory Note, divided by (b) the original balance of the Promissory Note; provided however, that the Secured Portion shall not be adjusted downward below 10% until the time the Earnout Reconciliation has been finalized (the “Earnout Security Portion”). For example, if the original principal amount of the promissory note is $500 million, and $100 million has been paid in cash, then the Secured Party shall have a security interest solely in 80% of the membership interests in each of New Rise Renewables, LLC and New Rise Renewables Reno, LLC, calculated as 80% = 100* (500-100)/500. Notwithstanding the foregoing the Secured Portion of the membership interests in New Rise Renewables, LLC, a Delaware limited liability company and New Rise Renewables Reno, LLC, a Delaware limited liability company shall be all of the membership interests in New Rise Renewables, LLC, a Delaware limited liability company and New Rise Renewables Reno, LLC, a Delaware limited liability company until the initial payment is made under the Note. Upon completion of the Earnout Reconciliation, the remainder Earnout Security Portion and corresponding Collateral shall be released if it is determined that the Pledgor does not owe any further payment to the Secured Party as a result of the Earnout Reconciliation. If the Pledgor owes an additional payment pursuant to the Earnout Reconciliation, the security interest shall remain in the Earnout Security Portion and corresponding Collateral until such time it is paid by Pledgor and following such payment, released.
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Secured Portion means, with respect to any Indebtedness under Section 6.01(a)(viii), either of the following as applicable: for 'European Options', up to the present value of the put strike; or, for 'American Options', up to the strike price."
Sample 1
Secured Portion means, as of any date of determination, the outstanding principal amount of loans equal to (a) with respect to the loans under all Credit Facilities, the sum of $1,005,000,000 minus the principal amount of the Secured Portion of loans under the Credit Facilities that have been repaid after the Amendment Effective Date and (b) with respect to the Loan, the sum of $255,000,000 minus the principal amount of the Secured Portion of the Loan that has been repaid after the Amendment Effective Date, provided that from and after the occurrence of the Security Release Trigger, the Secured Portion shall equal zero (0) and none of the Obligations under this Agreement and the Other Credit Facility shall constitute the Secured Portion.
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Related to Secured Portion

  • Secured Promissory Note is defined in Section 2.4.

  • Secured Property means the assets that are the subject of the security constituted by the Security Documents.

  • Senior Secured Loan Any assignment of or Participation Interest in a Loan that: (a) is not (and cannot by its terms become) subordinate in right of payment to any other obligation of the obligor of the Loan (other than with respect to trade claims, capitalized leases or similar obligations); (b) is secured by a valid first-priority perfected security interest or lien in, to or on specified collateral securing the obligor’s obligations under the Loan (subject to customary exceptions for permitted liens, including, without limitation, tax liens); (c) the value of the collateral securing the Loan at the time of purchase together with other attributes of the obligor (including, without limitation, its general financial condition, ability to generate cash flow available for debt service and other demands for that cash flow) is adequate (in the commercially reasonable judgment of the Collateral Manager) to repay the Loan in accordance with its terms and to repay all other Loans of equal seniority secured by a first lien or security interest in the same collateral; and (d) is not secured solely or primarily by common stock or other equity interests; provided that if such Loan is made to a parent entity that is secured solely or primarily by the stock of one or more of the subsidiaries of such parent entity to the extent that the granting by any such subsidiary of a lien on its own property would violate law or regulations applicable to such subsidiary (whether the obligation secured is such Loan or any other similar type of indebtedness owing to third parties), then the limitation set forth in this clause (d) shall not apply with respect to such Loan.

  • Secured Loan has the meaning specified in Section 2(e) hereof.

  • Secured Amounts means all money and amounts, including interest or payments in the nature of interest, that the Customer is or may become liable at any time to pay to or for the account of the Secured Party and includes money and amounts:

  • Exercise Any Secured Creditor Remedies or “Exercise of Secured Creditor Remedies” shall mean:

  • 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.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Senior Secured Parties means the Credit Agreement Secured Parties and any Additional Senior Debt Parties.

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

  • Financing Period means the number of calendar days from, but excluding, the immediately preceding Reset Date to, and including, the current Reset Date.

  • Secured Rate Contract means any Rate Contract between Borrower and the counterparty thereto, which (i) has been provided or arranged by GE Capital or an Affiliate of GE Capital, or (ii) Agent has acknowledged in writing constitutes a “Secured Rate Contract” hereunder.

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

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • Secured Party as used in this Annex means only Party B, (b) the term “Pledgor” as used in this Annex means only Party A, (c) only Party A makes the pledge and grant in Paragraph 2, the acknowledgement in the final sentence of Paragraph 8(a) and the representations in Paragraph 9.

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

  • ABL Secured Parties means the ABL Representative, the ABL Creditors and any other holders of the ABL Obligations.

  • Secured Promissory Note Record is a record maintained by each Lender with respect to the outstanding Obligations owed by Borrower to Lender and credits made thereto.

  • Senior Secured Credit Facilities means the amended and restated senior secured credit facilities dated November 30, 2016 among Studio City Company Limited, the guarantors named therein, the financial institutions named as lenders therein and the agent for such lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as such facilities may be amended, restated, modified, renewed, supplemented, replaced or refinanced from time to time.

  • Additional First Lien Secured Party means the holders of any Additional First-Lien Obligations and any Authorized Representative with respect thereto, and shall include the Initial Additional First-Lien Secured Parties.

  • Senior Secured Credit Agreement means that certain Credit Agreement, dated as of September 27, 2018, among the Borrowers, the lenders from time to time party thereto, JPMCB as administrative agent, JPMCB as collateral agent, and the other parties thereto, as amended, restated, amended, restated, extended, supplemented, refinanced or otherwise modified from time to time.

  • Senior Secured Obligations means (a) with respect to the Revolving Facility Obligations (to the extent such Obligations are secured by the Noteholder First Lien Collateral), the Noteholder Obligations, and (b) with respect to Noteholder Obligations (to the extent such Obligations are secured by the Revolving Facility First Lien Collateral), the Revolving Facility Obligations.

  • Issuer Secured Obligations means all amounts and obligations which the Issuer may at any time owe to or on behalf of the Indenture Trustee for the benefit of the Indenture Trustee and the Noteholders under this Indenture, the Notes or the other Basic Documents.

  • Senior Secured Leverage Ratio means, on any date of determination, the ratio of (i) Consolidated Senior Secured Net Debt on such date to (ii) Consolidated EBITDA for the Test Period most recently ended on or prior to such date; provided that for all purposes of this Agreement, Consolidated EBITDA for purposes of the Senior Secured Leverage Ratio shall be determined on a Pro Forma Basis.

  • 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.

  • Initial Financing Spread means 0.50% per annum.