Springing Collateral definition

Springing Collateral means the Pledged Equity and the Initial Excluded Collateral.
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Springing Collateral means all goods, securities, instruments, documents of title, chattel paper, intangibles and money, as such terms are defined in the Personal Property Security Act (British Columbia), acquired or developed by IDB with Advances hereunder used for purposes not permitted hereby, all as determined by an Audit, including all such items or kinds of personal property as IDB may from time to time agree in writing shall constitute Springing Collateral.
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Springing Collateral means, with respect to each Borrower, all of the following assets and properties of such Borrower:
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Examples of Springing Collateral in a sentence

  • When issued, the loans under the Term Loan Credit Facility were granted a security interest in all assets of iHC and the Debtor Guarantors except for certain “Excluded Assets,” which exclusion automatically falls away with respect to the Springing Collateral upon the occurrence of the Existing Notes Condition Trigger.28 The assets falling into the definition of “Excluded Assets” under the Term Loan Credit Facility included (a) Subsidiary Stock and (b) the Intercompany Notes.

  • On or before the applicable Springing Security Deadline for a Springing AssetCo Grantor, the Company and such Springing AssetCo Grantor shall cause the Collateral Trustee (for the benefit of the Trustee, the Holders and any other applicable Secured Party) to have valid and perfected Liens on the Springing Collateral, subject to Permitted Liens.

  • For the avoidance of doubt, the Bank shall not be permitted to file any UCC financing statements describing the Springing Collateral until after the occurrence of a Springing Lien Event.

  • The Company and the Subsidiary Guarantors shall also take all action required in order for all Additional Collateral and Springing Collateral to be pledged to the Collateral Agent for the benefit of the Holders as and when required by this Indenture.

  • The amount required to be maintained by Guarantor in the JV Springing Collateral Account shall be increased or decreased quarterly (on a calendar basis) to reflect any increases or decreases in the estimated purchase price of the JV Interests (including the Deferred JV Amounts) and the projected capital contributions to be made by the limited partners in the Joint Ventures to fund operating losses from the Properties during the applicable calendar quarter, each as determined by the Controlling Party.

  • Monies in the JV Springing Collateral Account shall be invested in Permitted Investments by Trustee pursuant to Section 3.11 hereof and interest thereon shall be credited to the JV Springing Collateral Account.

  • Within 45 days of the occurrence of the Springing Security Deadline for Olinda Star, the Company and Olinda Star shall cause the Collateral Trustee (for the benefit of the Trustee, the Holders and any other applicable Secured Party) to have valid and perfected fourth-priority Liens on the Springing Collateral, the Notes in accordance with the terms of the Intercreditor Agreement.

  • Guarantor hereby acknowledges that it has no further ownership of the JV Springing Collateral Account and funds therein and has no rights thereto, except as expressly provided herein.

  • Upon presentation to the Controlling Party of a Purchase of JV Interests Certificate (as hereinafter defined) executed by the Guarantor, the Controlling Party shall instruct Trustee to, and Trustee shall, disburse the applicable portion of the proceeds in the JV Springing Collateral Account (as specified in such Purchase of JV Interests Certificate) to the Controlling Party solely for the purpose of purchasing the JV Interests specified in such Purchase of JV Interests Certificate.

  • After a Springing Lien Event, Borrower shall be responsible for all fees and disbursements incurred by Bank in connection with any appraisals of any Springing Collateral, field examinations or other business analysis conducted by any third parties in connection with this Agreement or any Loan Documents.


More Definitions of Springing Collateral

Springing Collateral means the Springing ALB Collateral and the Springing Olinda Collateral. “Springing Guarantee Deadline” means (i) with respect to each ALB Entity, the 30th day following the date when all principal and interest due by such Springing AssetCo Grantor under each of the Restructured ALB Loans, the Priority Lien Debt and the Junior Priority Capex Debt, including, in each case, any permitted Refinancing thereof, have been indefeasibly paid in full in immediately available funds and no commitments remain outstanding thereunder and (ii) with respect to Xxxxxx Xxxx, the 5th Business Day following the Olinda Star Guarantee Date. With respect to clause (i), if a refinancing or restructuring of the then-existing Restructured ALB Loans, Priority Lien Debt or Junior Priority Capex Debt is entered into prior to the 30th day following the payment in full of such credit facility, (A) the Company shall notify in writing the Collateral Trustee, Bradesco and the Holders of such refinancing or restructuring and (B) the “Springing Guarantee Deadline” shall be the 30th day following the payment in full of such refinancing or restructuring.
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Springing Collateral means any assets other than Initial Collateral and Additional Collateral of the Company or any of its Restricted Subsidiaries that are affirmatively pledged pursuant to the Credit Agreement as collateral for Indebtedness of the Company or a Subsidiary Guarantor incurred under the Credit Agreement pursuant to Section 4.03(a)(1).
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Springing Collateral is any and all properties, rights and assets of Borrower described on Exhibit A-1.
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Related to Springing Collateral

  • UCC Filing Collateral means any Collateral, including Collateral constituting investment property, for which a security interest can be perfected by filing a UCC-1 financing statement.

  • Underlying Collateral means, with respect to a Loan Asset, any property or other assets designated and pledged or mortgaged as collateral to secure repayment of such Loan Asset, as applicable, including, without limitation, mortgaged property and/or a pledge of the stock, membership or other ownership interests in the related Obligor and all proceeds from any sale or other disposition of such property or other assets.

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

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • UCC Collateral is defined in Section 3.03.

  • Controlling Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Additional Collateral Agent (acting on the instructions of the Applicable Authorized Representative).

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Additional Pledged Collateral means all shares of, limited and/or general partnership interests in, and limited liability company interests in, and all securities convertible into, and warrants, options and other rights to purchase or otherwise acquire, stock of, either (i) any Person that, after the date of this Agreement, as a result of any occurrence, becomes a direct Subsidiary of any Grantor or (ii) any issuer of Pledged Stock, any Partnership or any LLC that are acquired by any Grantor after the date hereof; all certificates or other instruments representing any of the foregoing; all Security Entitlements of any Grantor in respect of any of the foregoing; all additional indebtedness from time to time owed to any Grantor by any obligor on the Pledged Notes and the instruments evidencing such indebtedness; and all interest, cash, instruments and other property or Proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the foregoing, provided, that, in no event shall Additional Collateral include any Excluded Equity. Additional Pledged Collateral may be General Intangibles or Investment Property.

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate or Representative of such holder at the time of entry into such Hedging Obligations;

  • Loan Collateral With respect to any Mortgage Loan, the related Mortgaged Property and any personal property securing the related Mortgage Loan, including any lessor’s interest in such property, whether characterized or recharacterized as an ownership or security interest, and including any accounts or deposits pledged to secure such Mortgage Loan, and any Additional Collateral.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

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

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • ABL Collateral means all of the assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any ABL Obligations.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Additional First Lien Obligations means all amounts owing to any Additional First-Lien Secured Party (including the Initial Additional First-Lien Secured Parties) pursuant to the terms of any Additional First-Lien Document (including the Initial Additional First-Lien Documents), including, without limitation, all amounts in respect of any principal, premium, interest (including any interest accruing subsequent to the commencement of a Bankruptcy Case at the rate provided for in the respective Additional First-Lien Document, whether or not such interest is an allowed claim under any such proceeding or under applicable state, federal or foreign law), penalties, fees, expenses, indemnifications, reimbursements, damages and other liabilities, and guarantees of the foregoing amounts.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • U.S. Collateral means any and all property owned, leased or operated by a Person covered by the U.S. Collateral Documents and any and all other property of any U.S. Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Secured Obligations.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Swap Collateral means, at any time, any asset (including, without limitation, cash and/or securities) which is paid or transferred by a Swap Provider to the Guarantor (and not transferred back to the Swap Provider) as credit support to support the performance by such Swap Provider of its obligations under the relevant Swap Agreement together with any income or distributions received in respect of such asset and any equivalent of such asset into which such asset is transformed; for greater certainty, Contingent Collateral shall at all times be excluded from Swap Collateral;