Security Trust definition

Security Trust has the meaning it has in the Security Trust Deed.

Security Trust means the trust established under clause 2.2 of this Deed.

Security Trust means a trust account established with a Trustee for the purpose of securing the Reinsurer’s obligations to the Company in accordance with Article IX hereof.

Examples of Security Trust in a sentence

• Party B has power under the Trust Deed to enter into this Agreement and the Security Trust Deed in its capacity as trustee of the Trust.

• On the Initial Borrowing Date and to the extent that the Initial Syndication Date has occurred, the Security Trust Deed shall have been executed by the parties thereto and shall be in full force and effect.

• It has not assigned (whether absolutely, in equity or otherwise) or declared any trust over any of its rights under any Transaction (other than, in respect of Party B, the trusts created pursuant to the Trust Deed) and has not given any charge over its assets, in the case of Party A, or the assets of the Trust (other than as provided in the Security Trust Deed), in the case of Party B.

• Neither party may assign or transfer any of its rights or obligations under this agreement without the prior written consent of the other party or if the rating of the Notes would be withdrawn or reduced as a result of the assignment, except for the creation of a charge by the Trustee under the Security Trust Deed.

• Under the Note Trust Deed and the Security Trust Deed, each of the Note Trustee and the Security Trustee are entitled to be indemnified and/or secured and/or prefunded to its satisfaction and relieved from responsibility in certain circumstances and to be paid its remuneration, costs and expenses in priority to the claims of the Noteholders and the other Secured Parties.

More Definitions of Security Trust

Security Trust means each of the trusts, one for each Underlying Security, constituted under the Instalment Receipts Deed.

Security Trust shall have the meaning set forth in Sections 4.6 and 10.3(d).

Security Trust. Deed shall mean the Security Trust Deed dated 11 May 2003 executed and delivered by Koppers Australia Pty Ltd. to the Administrative Agent for the benefit of the Lenders. Shares shall have the meaning assigned to that term in Section 6.1.2. Solvent shall mean, with respect to any Person on a particular date, that on such date (i) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (ii) the present fair saleable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (iii) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business, (iv) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature, and (v) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged. In computing the amount of contingent liabilities at any time, it is intended that such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. Standard & Poor’s shall mean Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. Standby Letter of Credit shall mean a Letter of Credit issued to support obligations of one or more of the Loan Parties, contingent or otherwise, which finance the working capital and business needs of the Loan Parties incurred in the ordinary course of business, but excluding any Letter of Credit under which the stated amount of such Letter of Credit increases automatically over time. Subsidiary of any Person at any time shall mean (i) any corporation or trust of which more than 50% (by number of shares or number of votes) of the outstanding capital stock or shares of beneficial interest normally entitled to vote for the election of one or more directors or trustees (regardless of any contingency which...

Security Trust. The Grantor Trust created by this Trust Agreement, the corpus of which consists of (i) the Mortgage Security and all proceeds thereof and (ii) the Grantor Trust Account and all amounts held therein or credited thereto.

Security Trust means the trust constituted over the Collateral as referred to in sub-clause 14.1.1 of the Proceeds Deed.

Security Trust. Deed shall mean the Security Trust Deed dated 11 May 2003 executed and delivered by Koppers Australia Pty Limited to the Administrative Agent for the benefit of the Banks.

Security Trust. Deed means the deed entitled “Security Trust Deed for the Cobar Mezzanine Security Trust” dated on or about the date of this Agreement and made between, among others, the Company and the Security Trustee;