Security Term definition

Security Term means the period commencing on the date of the disbursement of the Initial Amount and ending on the earliest of the date on which (i) the Company has paid all principal and interest due under the Note pursuant to the terms of this Agreement and the Unit; (ii) the OOGEDT has fully exercised the Right to Purchase under the Unit; and (iii) the OOGEDT’s Right to Purchase expires pursuant to the terms of the Unit.
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Security Term means the period during which any of the Collateral Units are held pursuant to the Security Agreement or any amount is held in the Collateral Account.
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Security Term has the meaning stated in Paragraph 9 of Appendix B.
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Examples of Security Term in a sentence

  • The Company has no subsidiaries as of the Effective Date and the Company hereby covenants and agrees that it shall not, without the prior written consent of the OOGEDT (such consent to be granted or withheld in the sole discretion of the OOGEDT), create or acquire any subsidiary during the Security Term.

  • The Company shall promptly provide the OOGEDT with an amended Schedule 2.06(J) to reflect any change with respect to any such subsidiary that occurs during the Security Term.

  • During the Security Term, the Holder shall not pledge, mortgage, hypothecate, encumber or create or suffer to exist a security interest in the Collateral Units or sell, assign or otherwise transfer such Units to or in favor of anyone other than pursuant to Section 2 of the Security Agreement, and the Holder shall not file or permit to be filed any financing statement or other security instrument with respect to the Collateral Units.

  • Until the expiration of the Security Term, the OOGEDT's interests in the Collateral shall continue in full force and effect.

  • Until the expiration of the Security Term, the OOGEDT’s interests in the Collateral shall continue in full force and effect.

  • Unless sooner terminated by the Authority, the Vendor may only terminate this Agreement in writing by email at least ninety (90) days prior to the: (i) expiration of the Initial Term or , if applicable, the Renewal Term; or (ii) the expiration or termination of the Hosting Term and Security Term.

  • The term of this Agreement shall commence on the Effective Date and shall continue in effect for one (1) year after the Go-Live Date of the Website, (the “Initial Term”), provided however, that, except for Section 2 of this Agreement, the terms and conditions set forth in this Agreement shall survive and continue to apply through the duration of the Hosting Term and Security Term.

  • All distributions paid or made with respect to the Collateral Units during the Security Term shall be paid by the General Partner directly to the Collateral Account.

  • During the Security Term, the Company shall promptly provide the OOGEDT with written notice of all commercial tort claims in which it is the plaintiff, such notice to contain the case title together with the applicable court and a brief description of the claim(s).

  • Following the occurrence, and during the continuance, of an Event of Default during the Security Term and in addition to other rights and remedies available to the OOGEDT, the OOGEDT may take such steps as the OOGEDT deems necessary to protect the OOGEDT's interest in and to preserve the Collateral.

Related to Security Term

  • restricted security term means each of the terms “non-voting security”, “subordinate voting security”, and “restricted voting security”;

  • Security Tests means conduct tests of the processes and countermeasures contained in the Security Plan.

  • Security Period means the period commencing on the date hereof and terminating upon discharge of the security created by the Security Documents by payment of all moneys payable thereunder;

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • Security freeze means a notice, at the request of the consumer and subject to certain exceptions,