Security Protection Notice definition

Security Protection Notice shall have the meaning given to that term in clause 5.1 (Crystallisation by notice) of the Deed of Charge and Assignment.

Security Protection Notice means a notice in, or substantially in, the form of the document so named set out in Schedule 5 to this Note Trust Deed Supplement; Series 2023-1 (A1) means the Note Series designated as such in accordance with the relevant Final Terms/Drawdown Prospectus; Series 2023-1 (A1) Charged Accounts means (i) the Series 2023-1 (A1) Distribution Ledger in respect of the Issuer Distribution Account; (ii) the Call Protection Accumulation Deposit Account in respect of Series 2023-1 (A1); and (iii) any bank account or other account in which the Issuer may at any time acquire a Benefit in relation to Series 2023-1 (A1) and over which the Issuer has created an Encumbrance in favour of the Note Trustee pursuant to the Note Trust Deed or this Note Trust Deed Supplement in respect of Series 2023-1 (A1); Series 2023-1 (A1) Documents means, in relation to Series 2023-1 (A1) only, the Class A1 (2023-1) Loan Note Supplement to the Global Loan Note No. 1 and this Note Trust Deed Supplement; Series 2023-1 (A1) Secured Creditors means, in respect of Series 2023-1 (A1), the Note Trustee in its own capacity and as Note Trustee (on behalf of the Noteholders), each of the Agents, the Account Bank, the Bank Account Operator and any Receiver; Series 2023-1 (A1) Secured Obligations means all amounts due to the Series 2023-1 (A1) Secured Creditors in accordance with the Series 2023-1 (A1) Documents and any other amounts payable by the Issuer under the Note Trust Deed which the Note Trustee determines in its sole discretion are referable or allocable to Series 2023-1 (A1); Series 2023-1 (A1) Secured Property means, with respect to Series 2023-1 (A1), the property of the Issuer from time to time subject, or expressed to be subject, to the Series 2023-1 (A1) Security created pursuant to this Note Trust Deed Supplement and any part of that property of the Issuer which is subject to the security created pursuant to the Note Trust Deed to the extent it is not subject to a prior Encumbrance; Series 2023-1 (A1) Security means the security created or intended to be created, or which may at any time be intended to be created, in favour of the Note Trustee with respect to Series 2023-1 (A1), by or pursuant to this Note Trust Deed Supplement; Series 2023-1 (A1) Security Documents means, in relation to Series 2023-1 (A1), the Note Trust Deed (including the Conditions) and this Note Trust Deed Supplement (including the Conditions);

Security Protection Notice has the meaning given to it in clause 11.1 of the Issuer Deed of Charge.

Examples of Security Protection Notice in a sentence

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• Any floating charge which has crystallised under clause 5.1 (Crystallisation by notice) or5.3 (Automatic crystallisation) may, by notice in writing given at any time by the Security Trustee to the Issuer (and so far as permitted by applicable law), be reconverted into a floating charge in relation to the assets specified in that notice in the event that the events which give rise to the Security Protection Notice are cured, waived or otherwise cease to apply.

• Any floating charge which has crystallised under Clause 5.1 (Crystallisation by notice) or5.3 (Automatic crystallisation) may, by notice in writing given at any time by the Security Trustee to the Issuer (and so far as permitted by applicable law), be reconverted into a floating charge in relation to the assets specified in that notice in the event that the events which give rise to the Security Protection Notice are cured, waived or otherwise cease to apply.

• If a Security Protection Notice is delivered pursuant to Clause 9.1 (Crystallisation: By Notice), the Bond Trustee may (with no obligation to do so), during any time other than an Enforcement Period, by notice in writing to the Obligors, withdraw a Security Protection Notice, the effect of which is to confirm that the OFCA Floating Security has ceased to be crystallised.

• The Trustee may at any time, unless an Enforcement Notice has been delivered, by notice in writing to the Issuer withdraw an English Security Protection Notice.

More Definitions of Security Protection Notice

Security Protection Notice means a notice in, or substantially in, the form of the document so named set out in Schedule 5 to this Note Trust Deed Supplement; Series 2020-1 (A2) means the Note Series designated as such in accordance with the relevant Final Terms/Drawdown Prospectus; Series 2020-1 (A2) Charged Accounts means (i) the Series 2020-1 (A2) Distribution Ledger in respect of the Issuer Distribution Account; (ii) the Call Protection Accumulation Deposit Account in respect of Series 2020-1 (A2); and (iii) any bank account or other account in which the Issuer may at any time acquire a Benefit in relation to Series 2020-1 (A2) and over which the Issuer has created an Encumbrance in favour of the Note Trustee pursuant to the Note Trust Deed or this Note Trust Deed Supplement in respect of Series 2020-1 (A2); Series 2020-1 (A2) Documents means, in relation to Series 2020-1 (A2) only, the Class A2 (2020-1) Loan Note Supplement to the Global Loan Note No. 1 and this Note Trust Deed Supplement; Series 2020-1 (A2) Secured Creditors means, in respect of Series 2020-1 (A2), the Note Trustee in its own capacity and as Note Trustee (on behalf of the Noteholders), each of the Agents, the Account Bank, the Bank Account Operator and any Receiver;

Security Protection Notice means a notice in, or substantially in, the form of the document so named set out in Schedule 5 to this Note Trust Deed Supplement; Series 2023-1 (A2) means the Note Series designated as such in accordance with the relevant Final Terms/Drawdown Prospectus; Series 2023-1 (A2) Charged Accounts means (i) the Series 2023-1 (A2) Distribution Ledger in respect of the Issuer Distribution Account; (ii) the Call Protection Accumulation Deposit Account in respect of Series 2023-1 (A2); and (iii) any bank account or other account in which the Issuer may at any time acquire a Benefit in relation to Series 2023-1 (A2) and over which the Issuer has created an Encumbrance in favour of the Note Trustee pursuant to the Note Trust Deed or this Note Trust Deed Supplement in respect of Series 2023-1 (A2); Series 2023-1 (A2) Documents means, in relation to Series 2023-1 (A2) only, the Class A2 (2023-1) Loan Note Supplement to the Global Loan Note No. 1 and this Note Trust Deed Supplement;

Security Protection Notice means a notice in, or substantially in, the form of the document so named set out in Schedule 5 to this Note Trust Deed Supplement; Series 2023-2 (A2) means the Note Series designated as such in accordance with the relevant Final Terms/Drawdown Prospectus; Series 2023-2 (A2) Charged Accounts means (i) the Series 2023-2 (A2) Distribution Ledger in respect of the Issuer Distribution Account; (ii) the Call Protection Accumulation Deposit Account in respect of Series 2023-2 (A2); and (iii) any bank account or other account in which the Issuer may at any time acquire a Benefit in relation to Series 2023-2 (A2) and over which the Issuer has created an Encumbrance in favour of the Note Trustee pursuant to the Note Trust Deed or this Note Trust Deed Supplement in respect of Series 2023-2 (A2);

Security Protection Notice means a notice in, or substantially in, the form of the document so named set out in the Deed of Charge;

Security Protection Notice means a notice in, or substantially in, the form set out in schedule 2 (Form of Security Protection Notice) of the Deed of Charge;

Security Protection Notice means an English Security Protection Notice and/or an Irish Security Protection Notice, as applicable;

Security Protection Notice means in the case of the English Chargor Security a notice given in accordance with Clause 10.1 (Delivery of Security Protection Notice) of the English Deed of Charge or, in the case of the Issuer Security, a notice given in accordance with Clause 10.1 (Delivery of a Security Protection Notice) and in the form set out in Schedule 4 to the Issuer Deed of Charge;