Security Agreement Obligations definition

Security Agreement Obligations means (a) the Bank Agreement Obligations, (b) the due and punctual payment and performance of all obligations of each Loan Party (as defined in each of the Term Loan Credit Agreement and the Revolving Credit Agreement) under each Swap Agreement that (i) was in effect on April 3, 2007 with a counterparty that was a Revolving Facility Lender or an Affiliate of a Revolving Facility Lender of April 3, 2007 or (ii) is (or was) entered into after April 3, 2007 with any counterparty that is (or was) a Revolving Facility Lender or an Affiliate of a Revolving Facility Lender at the time such Swap Agreement is (or was) entered into, and (c) the due and punctual payment and performance of all obligations of each Bank Agreement Borrower and any of their Subsidiaries in respect of overdrafts and related liabilities owed to a Revolving Facility Lender or any of its Affiliates (or any other Person designated by the Issuer as a provider of cash management services and entitled to the benefit of the Security Agreement) and arising from cash management services (including treasury, depository, overdraft, credit or debit card, electronic funds transfer, ACH services and other cash management arrangements).

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Security Agreement Obligations shall have the meaning assigned thereto in the Security Agreement but shall in any event include the Obligations.

Security Agreement Obligations means (a) the Bank Agreement Obligations, (b) the due and punctual payment and performance of all obligations of each Loan Party (as defined in each of the Term Loan Credit Agreement and the Revolving Credit Agreement) under each Swap Agreement that (i) was in effect on April 3, 2007 with a counterparty that was a Revolving Facility Lender or an Affiliate of a Revolving Facility Lender of April 3, 2007 or (ii) is (or was) entered into after April 3, 2007 with any counterparty that is (or was) a Revolving Lender or an Affiliate of a Revolving Facility Lender at the time such Swap Agreement is (or was) entered into, and (c) the due and punctual payment and performance of all obligations of each Bank Agreement Borrower and any of their Subsidiaries in respect of overdrafts and related liabilities owed to a Revolving Facility Lender or any of its Affiliates (or any other Person designated by the Issuer as a provider of cash management services and entitled to the benefit of the Security Agreement) and arising from cash management services (including treasury, depository, overdraft, credit or debit card, electronic funds transfer, ACH services and other cash management arrangements).

Examples of Security Agreement Obligations in a sentence

• All Obligations outstanding under the Existing Loan and Security Agreement immediately prior to the amendment and restatement thereof as contemplated hereby (such Obligations, the "Existing Loan and Security Agreement Obligations") shall, unless and until paid, continue to remain outstanding under this Agreement and shall not constitute new Obligations incurred by the Borrower on or after the Closing Date.

• The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations or Loan and Security Agreement Obligations, as the case may be.

• The Borrower hereby confirms that all Existing Loan and Security Agreement Obligations are due and owing without offset, defense, counterclaim or recoupment of any kind or nature.

• Neither the Borrower nor any of its Subsidiaries shall voluntarily prepay, or amend, supplement or otherwise modify the terms of, any Debt, except (i) the Obligations in accordance with the terms of this Agreement and (ii) the Loan and Security Agreement Obligations in accordance with the terms of the Loan and Security Agreement.

• Pledge and Security Agreement Obligations shall be paid over to the Pledgor or to whomsoever may be lawfully entitled to receive such surplus.

• Lender may at any time grant to one or more banks or other financial institutions (each a “Participant”) participating interests in the Secured Obligations, the Second Mortgage Secured Obligations, the Third Mortgage Secured Obligations and the Pledge and Security Agreement Obligations owing to Lender.

• At all times until repayment in full of the Secured Obligations, the Second Mortgage Secured Obligations, the Third Mortgage Secured Obligations and the Pledge and Security Agreement Obligations, Borrowers shall cause Guarantor to satisfy the Guarantor Minimum Net Worth Requirement and Guarantor Minimum Available Liquidity Requirement.

• The provisions of this Section 10.19 shall survive the expiration and termination of this Agreement and the repayment of the Secured Obligations, the Second Mortgage Secured Obligations, the Third Mortgage Secured Obligations and the Pledge and Security Agreement Obligations.

• Notwithstanding anything herein to the contrary, after the occurrence and during the continuation of any Specified Event of Default, interest on all overdue Uniti – Bridge Loan and Security Agreement Obligations shall accrue at the applicable Default Rate to the fullest extent permitted by Applicable Law.

• In no event shall any Borrower, whether directly or indirectly, acquire any property or asset other than the Property nor commence any income generating activity not contemplated to be conducted by such Borrower as set forth in this Agreement until all Secured Obligations, Second Mortgage Secured Obligations, Third Mortgage Secured Obligations and Pledge and Security Agreement Obligations have been indefeasibly paid in full.

More Definitions of Security Agreement Obligations

Security Agreement Obligations means the “Obligations” as defined in the Security Agreement.