Security Beneficiaries definition

Security Beneficiaries means any person who may benefit from the Secured Property other than the Secured Creditors and, in respect of a Series, shall mean those persons specified in the relevant Loan Note Supplement.

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Security Beneficiaries means the persons defined as "Security Beneficiaries" in the Security Trust Deed and "Security Beneficiary" means each of them;

Security Beneficiaries means the Agents and the Issuer Account Bank;

Examples of Security Beneficiaries in a sentence

No Costs incurred in respect of any Series will, save as specifically provided herein, be deducted from any amount payable to the Secured Creditors or Security Beneficiaries in respect of any other Series, nor will any such Costs specifically referable to one Series be in any way charged to any Secured Creditors or Security Beneficiaries of another Series.
Such supplement or variation may be made without the consent of the Secured Creditors (or any of the Security Beneficiaries) and the interests of any Secured Creditor (or any Security Beneficiary) shall be subject to any supplement or variation so made.
Debtors hereby acknowledge that the Secured Obligations are owed to the various Security Beneficiaries and that each Security Beneficiary is entitled to the benefits of the Liens given under this Agreement.
The powers conferred on the Lender and the other Security Beneficiaries hereunder are solely to protect the Lender's and the Security Beneficiaries' interests in the Collateral and shall not impose any duty upon the Lender or any Security Beneficiary to exercise any such powers.
This Agreement creates a continuing security interest in the Collateral and (a) shall be binding on Debtors and their successors and assigns and (b) shall inure, together with all rights and remedies of Secured Party hereunder, to the benefit of Secured Party and Security Beneficiaries and their respective successors, transferees, substitutes and assigns.
Each Debtor hereby acknowledges that such power of attorney and proxy are coupled with an interest, are irrevocable, and are to be used by Secured Party for the sole benefit of Security Beneficiaries.
The Lender and the Security Beneficiaries shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct.
No amendment of any provision of this Guaranty shall be effective unless it is in writing and signed by Guarantors, Guaranty Trustee and Security Beneficiaries, and no waiver of any provision of this Guaranty, and no consent to any departure by any Guarantor therefrom, shall be effective unless it is in writing and signed by Guaranty Trustee and Security Beneficiaries, and then such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.
The Strengthening Protections for Social Security Beneficiaries Act of 2018 (H.R. 4547, Pub.
Guaranty Trustee, Security Beneficiaries, and Guarantors intend to contract in strict compliance with applicable usury law from time to time in effect.

More Definitions of Security Beneficiaries

Security Beneficiaries means all Secured Parties (as defined in the Collateral Agency and Intercreditor Agreement), in their capacities as Secured Parties under such agreement.

Security Beneficiaries in respect of Series 2015-1, for the purposes of the definition of the same in the Security Trust Deed and Cash Management Agreement, shall include the Receivables Trustee, the Servicer, the Cash Manager, the Loan Note Issuer Account Bank, the Receivables Trustee Account Bank, the Calculation Agent, any Qualifying Swap Provider in respect of Series 2015-1 and, in respect of the Issuer Costs Amount and the Issuer Profit Amount, the Issuer.

Security Beneficiaries means the persons defined as "Security Beneficiaries" in the Security Trust Deed and Security Beneficiary means each of them;

Security Beneficiaries means the Agent, the Banks, the Working Capital Bank, the Hedging Counterparty (provided the Hedging Counterparty is Bank of Scotland or Bank of Scotland Treasury Services plc );

Security Beneficiaries in respect of the Originator VFN Series, for the purposes of the definition of the same in the Security Trust Deed and Cash Management Agreement, shall include the Receivables Trustee, the Servicer, the Cash Manager, the Loan Note Issuer Account Bank, the Receivables Trustee Account Bank and any Qualifying Swap Provider in respect of the Originator VFN Series.