Shared Security definition

Shared Security has the meaning given to it in the second recital of the Security Sharing Agreement;

Shared Security means the Security created under the Security Documents, being the Security over which the creditors under the Super Senior RCF, the Super Senior Hedges, the Security Agent, the Bondholders (represented by the Agent), the Existing Bondholders (represented by the Agent) and the Agent are granted first priority Security.

Shared Security means any Security Interest, guarantee, indemnity or other form of assurance that by its terms secures both (on the one hand) the payment or repayment of any Mortgage Loan forming or to form part of the Assets of the Series Trust and (on the other hand) any Other Loan forming or to form part of the CBA Trust Assets.

Examples of Shared Security in a sentence

• In case of enforcement of the Shared Security, any enforcement proceeds will first be applied towards repayment of the Financial Indebtedness incurred by the Issuer under the Super Senior RCF and the Super Senior Hedges and secondly towards redemption of the Bonds.

• However, none of the JV Subsidiary Guarantors will provide a Security Document pledging the Capital Stock of its direct or indirect Subsidiaries as security in favor of the Shared Security Agent for itself and for the benefit of the Trustee and the Holders.

• The rights and protections provided to the Trustee in this Article 7 shall apply to the Shared Security Agent mutatis mutandis.

• The Trustee is hereby irrevocably authorized by each Holder of the Notes to, or instruct the Shared Security Agent to, effect any release of Liens or Collateral contemplated by Section 10.08 hereof or by the terms of the Security Documents.

• Under certain circumstances, Citicorp International Limited as the Trustee and as the Shared Security Agent may have obligations under the Security Documents or the Intercreditor Agreement that are in conflict with the interests of the holders of the Notes and/or of holders of Permitted Pari Passu Secured Indebtedness.

More Definitions of Shared Security

Shared Security has the meaning given to it in the Security Sharing Agreement; “Shortfall” has the meaning given to it under Clause 8.1 of the Trust Deed;

Shared Security means any Transaction Security which, at the election of the Parent, is to secure all or any part of the Senior Parent Liabilities.

Shared Security means the assets which are expressed to be the subject of the Security created or evidenced or expressed to be created or evidenced under or pursuant to the Security Documents.

Shared Security means the common security to be granted as part of the Recapitalisation Transaction for the benefit of the Super Senior Credit Facility Agreement, Senior Secured Credit Facility Agreement, the Senior Secured Notes, the Senior Secured Overdraft Facility Agreement, the Subordinated Bilateral Credit Facility Agreements and the Subordinated No and the Subordinated Notes consistent with the Recapitalisation Implementation Deed and subject to the terms of the Intercreditor Agreement

Shared Security means the Security created under the Security Documents, being the Security over which the Secured Parties are granted first priority Security.

Shared Security means any Right in Security granted prior to the Relevant Phase 2 Effective Time in respect of both:(c) Transferring Secured Liabilities; and(d) Remaining Secured Liabilities,and each such Right in Security shall include any Right in Security expressed tosecure present and future liabilities on an “all monies” or similar basis;

Shared Security means the Security created under the Security Documents (other than the pledge over the Escrow Account), being the Security over which the creditors under the Super Senior RCF, the creditors under any New Debt, the hedge counterparties under the Super Senior Xxxxxx, the Security Agent, the Bondholders (represented by the Agent) and the Agent are granted first priority Security.