Subsidiary Security Agreement definition
Examples of Subsidiary Security Agreement in a sentence
Each of the undersigned is a Restricted Subsidiary of World Acceptance Corporation who has executed and delivered to the Collateral Agent, the Administrative Agent, and the Lenders the Subsidiary Guaranty Agreement and the Subsidiary Security Agreement.
In addition, the obligations are also guaranteed by the Company’s Subsidiaries, pursuant to the Subsidiary Guaranty, and all of Subsidiaries’ obligations under the Subsidiary Guaranty are secured by the “Collateral” (as defined in the Subsidiary Security Agreement) identified and described as security therefor in the Subsidiary Security Agreement.
Sun Gro Canada is a party to the Canadian Subsidiary Security Agreement and the Canadian Subsidiary Pledge Agreement pursuant to which Sun Gro Canada has created liens in favor of Agent on certain Collateral to secure certain of the Obligations.
The Subsidiary Security Agreement and Subsidiary Guaranty were duly amended from time to time, including on October 6, 1999 when American Prescription Providers of Pennsylvania, Inc.
In the event of any conflict between the terms of this Subsidiary Security Agreement and the applicable Intercreditor Agreement, the terms of the applicable Intercreditor Agreement shall govern.