Subordinate Security definition

Subordinate Security means all liens, charges, pledges, security interests and other security agreements of any nature or kind, now or hereafter granted by the Borrower or any of its Subsidiaries to any Subordinate Party which secures payment and/or performance of the Subordinate Debt;

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Subordinate Security means all liens, charges, pledges, security interests, hypothecs and other security agreements of any nature or kind, now or hereafter granted by the Borrower or any of its Subsidiaries to any Subordinate Party which secures payment and/or performance of the Subordinate Debt;

Subordinate Security means all liens, charges, pledges, hypothecs, mortgages, assignments, security interests and other encumbrances of any nature or kind, now or hereafter granted, created or assumed by the Company or any other person in or over all or any of the Collateral and held by or on behalf of any Purchaser, including all amendments, modifications, restatements, supplements or replacements thereof or thereto from time to time. Without limiting the generality of the foregoing, Subordinate Security includes all security agreements granted to any Purchaser by the Company and all security interests of any Purchaser now or at any time in the future perfected by registration in any jurisdiction under any personal property security legislation.

Examples of Subordinate Security in a sentence

• No discharge, release or waiver by the Senior Lender of any of the Senior Security against or in respect of any part of the Property or any person shall require notice to or the consent of the Subordinate Lender or otherwise affect the subordination and postponement of the Subordinate Indebtedness and the Subordinate Security hereby granted by the Subordinate Lender other than with respect to the Property or person in respect of which or whom the Senior Security is so discharged, released or waived.

• Without the prior written consent of the Agent, neither the Indenture nor any Debentures or Subordinate Security shall be amended, supplemented or otherwise modified.

• All insurance, expropriation and condemnation proceeds relating to the Property shall be dealt with and applied, whether before or after any Event of Default under or in respect of the Senior Indebtedness or the Subordinate Indebtedness, in accordance with the provisions of the Senior Commitment Letter and/or the Senior Security notwithstanding any provision to the contrary in the Subordinate Security.

• No amendment, renewal, extension, replacement, modification, supplement or restatement of any Senior Indebtedness and/or the Senior Security (each, a "Modification") shall require the consent of the Subordinate Lender or otherwise affect the subordination and postponement of the Subordinate Indebtedness and the Subordinate Security hereby granted by the Subordinate Lender.

• The Senior Lender hereby irrevocably consents to the Subordinate Indebtedness and the Subordinate Security.

More Definitions of Subordinate Security

Subordinate Security. Any Security other than a Senior Security.

Subordinate Security has the meaning ascribed to that term in Section 2.2 of this Agreement.

Subordinate Security. Any Class M-1 Note, Class M-2 Note or Residual -------------------- Interest Certificate.

Subordinate Security. Any of the Class B-1 Securities, Class B-2 Securities, Class B-3 Securities, Class B-4 Securities, Class B-5 Securities or Class B-6 Securities.

Subordinate Security. Any Class M-1 Note, Class M-2 Note, Class B-1 -------------------- Certificate or Class B-2 Certificate.

Subordinate Security means bonds or other securities or obligations relating to the Airport, payable from Revenues, and having a lien thereon subordinate and junior to the lien thereon of the Bonds. Terminal Building shall mean the passenger Terminal Building constructed by CITY as illustrated on Exhibit A and as the passenger Terminal Building may be modified, changed or enlarged.

Subordinate Security. Any RMBS issued by ▇.▇. ▇▇▇▇▇▇ Mortgage Trust 2014-2, identified as a ‘Subordinate Security’ in the related Confirmation.