Swiss Security definition
Examples of Swiss Security in a sentence
In no event shall the same be commingled with any Loan Party’s own funds (except, with regard to accounts located in Europe, to the extent permitted pursuant to the applicable U.K. Security Agreement, Swiss Security Agreement, or German Security Agreement, or Control Agreements, or with respect to accounts located in any other European country, the applicable Control Agreement or other Security Documents applicable thereto).
Each Loan Party further reaffirms each grant of security under each Bermuda Security Document, English Security Document and Swiss Security Document.
This Agreement and the other Loan Documents (other than the Bermuda Security Documents, the English Security Documents, the Swiss Security Documents and such other Loan Documents as expressly state the contrary) shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction.
Effective upon accession of Amdipharm AG as a party hereto (which accession shall be conclusive evidence of Amdipharm AG’s consent to this Section 5.10(d)), the Credit Agreement Collateral Agent will be deemed to hold the collateral assigned to it pursuant to the Swiss Security Assignment Agreement both on its behalf and for the benefit of the Credit Agreement Secured Parties and as gratuitous agent on behalf of the other Collateral Agents and for the benefit of the other First Lien Secured Parties.
If and to the extent the Collateral is subject to any Swiss Security Documents, the security interests created under the respective Swiss Security Documents shall rank senior to the security interests created hereunder and the provisions of the respective Swiss Security Documents shall prevail.
If the Majority Lenders are satisfied that a Borrower is likely to receive Dollar denominated payments under any Eligible Contract, such Borrower shall promptly establish and maintain its Offshore Collection Account and execute the relevant Swiss Security Documents within such timeframe as the Majority Lenders may reasonably specify.
The Loan Documents, with the exception of the Swiss Security Agreements, are governed by New York law without regard to principles of conflicts of law.
This Agreement and the other Loan Documents (other than the Bermuda Security Documents, the English Security Documents, the Irish Security Documents, the Swiss Security Documents and such other Loan Documents as expressly state the contrary) shall be governed by, and construed and enforced in accordance with, the laws of the State of New York, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction.
For the purpose of this Section 9.9, the Collateral Agent acts in its own name and on behalf of itself and not as agent or representative of any Lender or as agent and the security interests granted within the Swiss Security Agreements to the Collateral Agent to secure the Parallel Obligations is granted to the Collateral Agent in its capacity as creditor in respect of the Parallel Obligations (or to do any act reasonably incidental to any of the foregoing).
Switzerland have entered into the Bermuda Security Documents, English Security Documents, Irish Security Documents and/or Swiss Security Documents in each case pursuant to which they have granted security interests in, to and under the collateral described therein (such collateral, collectively, the “Foreign Collateral”, and with the UCC Collateral, collectively, the “Collateral”) in favor of Agent for the benefit of the Lenders.