Security Termination means such time at which each of the following events shall have occurred: (a) the indefeasible payment in full of all Obligations in cash and all other amounts payable under the Loan Documents, (b) the termination or expiration of all Letters of Credit, (c) the termination of all Hedge Contracts with the Credit Parties, and (d) the termination of all the Commitments.
Security Termination means Payment in Full and the expiration or termination of all Secured Swap Agreements and payment in full of all obligations owing by any Loan Party thereunder (other than Secured Swap Agreements as to which arrangements satisfactory to the applicable Secured Swap Provider shall have been made).
Security Termination has the meaning set forth in Section 8.7(b).
Examples of Security Termination in a sentence
Document the termination on AF Form 2587, Security Termination Statement, and ensure JPAS is updated.
Failure on the part of such personnel to execute a Security Termination Statement shall be reported imme- diately to the Deputy Under Secretary of Defense for Policy.[52 FR 11219, Apr.
Office of the Secretary of Defense § 154.67 (2) When an individual refuses to exe- cute a Security Termination State- ment, that fact shall be reported imme- diately to the security manager of the cognizant organization concerned.
When individuals are unable to execute a Security Termination Statement (e.g., death, incapacitation, could not be located), make a notation reflecting the individual’s status on the Security Termination Statement, report to the supporting adjudication facility, and record in JPAS.
Document any variations in Remarks/Reason for Security Termination section, above.
More Definitions of Security Termination
Security Termination means such time as when (a) all Commitments have been terminated or expired, (b) all Obligations have been paid in full in cash (other than indemnification obligations and other contingent obligations not then due and payable and as to which no claim has been made as at the time of determination) and (c) all Letters of Credit have terminated or expired without any pending drawing thereon (other than Letters of Credit as to which cash collateral has been provided to the applicable Issuing Bank in an amount equal to 105% of the amount of such outstanding Letters of Credit or other arrangements satisfactory to the applicable Issuing Bank (in the sole discretion of such Issuing Bank) have been made).
Security Termination means such time at which each of the following events shall have occurred on or prior to such time: (a) all Commitments have terminated or expired, (b) the Credit Agreement has terminated, (c) all Indebtedness (other than obligations under any Secured Swap Agreement and other than indemnities and other contingent obligations not then due and payable and as to which no claim has been made as of the time of determination) have been paid in full in cash, (d) all Secured Swap Agreements have been novated, terminated or the Borrower or its applicable Subsidiary has provided substitute collateral to the Secured Hedge Provider thereunder to the extent provided under the applicable Secured Swap Agreement (or as to which other arrangements satisfactory to the applicable Secured Hedge Provider shall have been made), and (e) all Letters of Credit have expired or terminated or the LC Exposure has been cash collateralized (or as to which other arrangements satisfactory to the Borrower and the Issuing Bank shall have been made), as provided for in the Credit Agreement.
Security Termination means such time at which each of the following events shall have occurred on or prior to such time: (a) termination of the Credit Agreement, (b) termination of all Hedge Contracts with Swap Counterparties (other than Hedge Contracts with any Swap Counterparty with respect to which other arrangements satisfactory to such Swap Counterparty and the Borrower have been made), (c) termination of all Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to the Administrative Agent and the Issuing Lender shall have been made), and (d) the indefeasible payment in full in cash of all outstanding Advances, Letter of Credit Obligations (other than Letters of Credit as to which other arrangements satisfactory to the Administrative Agent and the Issuing Lender shall have been made) and all other Obligations (other than (i) contingent indemnification obligations for which no notice of claim has been received by any Grantor and (ii) obligations under a Hedge Contract not yet due and payable with respect to which other arrangements satisfactory to such Swap Counterparty and the Borrower have been made) payable under the Credit Agreement and under any other Loan Document. Form of Mortgage (Oklahoma) (Isramco Onshore, LLC – 2015)
Security Termination means such time as when (a) all Commitments have been terminated or expired and (b) all Term Loan Obligations have been paid in full in cash (other than indemnification obligations and other contingent obligations not then due and payable and as to which no claim has been made as at the time of determination).
Security Termination means such time as when all Obligations have been paid in full in cash (other than indemnification obligations and other contingent obligations not then due and payable and as to which no claim has been made as at the time of determination).
Security Termination means the occurrence of each of the following: (1) the indefeasible payment in full in cash of all Obligations (other than (a) contingent indemnification obligations and (b) obligations and liabilities under Secured Hedging Contracts described in clause (2) below), the expiration or termination of all Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to the Administrative Agent and the Issuers shall have been made) and the termination of all Commitments and (2) the expiration or termination of all Secured Hedging Contracts with Approved Counterparties and the indefeasible payment in full in cash of all Obligations in respect of such Secured Hedging Contracts (or cash collateralization or other arrangements made with respect to such Secured Hedging Contacts, in each case, on terms reasonably satisfactory to the applicable Approved Counterparty).
Security Termination means the occurrence of each of the following: (a) termination of the Commitments, (b) termination or expiration of all Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to the Administrative Agent and the Issuing Bank have been made), (c) termination of all Hedge Contracts with Swap Counterparties (other than Hedge Contracts as to which other arrangements satisfactory to the respective Swap Counterparty have been made), and (d) the payment in full in cash of all Obligations (other than (i) Banking Services Obligations with respect to which other arrangements satisfactory to the respective Banking Service Provider have been made and (ii) Swap Obligations with respect to which other arrangements satisfactory to the respective Swap Counterparty have been made).