Security SPV definition

Security SPV means Bowwood and Main No. 335 Proprietary Limited (to be renamed Bowwood and Main No. 335 (RF) Proprietary Limited), a private company duly incorporated according to the company laws of South Africa with registration number 2021/855813/07.

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Security SPV means any of the Plateau Security SPV and the Opco Security SPV.

Security SPV. ’ means Main Street 1535 Proprietary Limited, an insolvency remote special purpose vehicle company organized in accordance with the laws of South Africa under registration number 2017/211422/07;

Examples of Security SPV in a sentence

• Each Party acknowledges that the Plateau Security SPV and the Opco Security SPV have been established to hold the Transaction Security and that the taking of any enforcement action by the Plateau Security SPV or the Opco Security SPV in relation thereto shall be taken in accordance with the Plateau Intercreditor Agreement and the Global Intercreditor Agreement (as the case may be).

• The ProjectCo shall cause the Security SPV and the Purchaser to be added and maintained as a named insured with respect to property damage insurance and comprehensive general liability insurance.

• The Senior Agent and each Security SPV may (with the consent of the Obligor or in accordance with clause 30 (Set-Off)) apply any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents or in or towards purchase of any amount of any currency to be so applied.

• We shall not be obliged to return any packaging materials to you.

• Notwithstanding any other provision of any Finance Document to the contrary, a Security SPV is not obliged to disclose to any other person (i) any confidential information or (ii) any other information if the disclosure would or might in its reasonable opinion constitute a breach of any law or a breach of a fiduciary duty.

• The Borrower shall, within 3 Business Days of demand, pay the relevant Security SPV the amount of all costs and expenses (including legal fees) reasonably incurred and properly evidenced by it in connection with the administration or release of any Security created pursuant to any Transaction Security Document.

• Notwithstanding any other provision of any Finance Document, any Transaction Document, the Transaction Security or this Agreement to the contrary, a Security SPV is not obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation, or a breach of a fiduciary duty or duty of confidentiality.

• If an Obligor requests an amendment, waiver or consent Plateau shall, within 3 (three) Business Days of demand, reimburse each Finance Party for the amount of all costs and expenses (including legal fees) reasonably incurred by each Finance Party (or in the case of the Security Agent and/or the Plateau Security SPV and/or the Opco Security SPV, by any Delegate) in responding to, evaluating, negotiating or complying with that request or requirement.

• Each Lender shall deal with each Security SPV exclusively through the Senior Agent or the Security Agent and shall not deal directly with either Security SPV.

• Finance Parties shall be made to such account of that Security SPV as that Security SPV may have specified for this purpose from time to time, so as to be received by 11:00 a.m. on the due date for each such payment.

More Definitions of Security SPV

Security SPV means the special purpose company to be registered and incorporated with the sole purpose of: 1.75.1 holding the Security; and 1.75.2 issuing the Guarantee(s) and, if required, making payment under the Guarantees;

Security SPV. Redink Rentals Security SPV (RF) Proprietary Limited (registration number 2015/065286/07), a private company with limited liability, duly registered and incorporated in accordance with the laws of South Africa;