the Security definition

the Security means the security (if any) created by the Customer in favour of the Bank over all or any types of the Secured Assets in consideration of the Bank making available to the Customer the Secured Overdraft Facility;

the Security means the guarantee, guarantees letter or letters of credit specified below:4

the Security. Trustee shall enforce any Pledge created hereunder against the Pledgor in accordance with the following procedure: (i) The Pledgor shall, following a notification by the Security Trustee to the Pledgor that an Enforcement Event has occurred and that the Security Trustee intends to enforce the Pledges, deliver to the Security Trustee within sixty days of such notification an auditors' determination from a firm of auditors of international standard and reputation (the "AUDITORS' DETERMINATION") stating the value of the Net Assets, i.e., the amounts which may be claimed against the Pledgor under the Pledges having regard to Sections 30 and 31 of the German Limited Liability Companies Act. (ii) The Auditors' Determination, i.e., the amount which may be claimed against the Pledgor under the Pledges, having regard to Section 30 and 31 of the German Limited Liability Companies Act, shall take into account the generally accepted accounting principles applicable from time to time in Germany (GAAP) and be based on the same principles that were applied when establishing the previous year's balance sheet. (iii) The amount specified in the relevant Auditors' Determination pertaining to the Pledgor shall be up-to-date and in any event such Auditors' Determination shall have been prepared as of a date no earlier than 15 business days prior to the date of notification by the Security Trustee to the Pledgor that it intends to enforce the Pledges. (iv) If the Pledgor fails to deliver the Auditors' Determination to the Security Trustee within the sixty day period stated in (i) above, the Security Trustee shall be entitled to enforce the Pledges against the Pledgor without limitation.

Examples of the Security in a sentence

• The signature shall be conclusive evidence that the Security has been authenticated under this Indenture.

• In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security.

• Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits of this Indenture.

• If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid.

• In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen.

More Definitions of the Security

the Security means the Share Pledge Agreement and the General Security Agreement delivered herewith.

the Security means the one or more letter(s) of credit and/or guarantee(s) mentioned in recital

the Security means all the two million Ordinary Shares of 5p each in the capital of the Parent, the share certificates for which are to be deposited by the Pledgor with Fredrikson & Byron and the xxxxr pxxxxxty pledged under clauses 2.1 and 2.2 hereof.

the Security has the meaning referred to in the recitals of this Deed.

the Security. Instrument and the Assignment (collectively, the "Security Documents") secure, among other things, a Loan which has been advanced to Borrower pursuant to a Loan Agreement described therein between Borrower and Lender (as heretofore amended, the "Original Loan Agreement"). Borrower and Lender have entered into an Amended and Restated Loan Agreement dated of even date herewith (the "Amended Loan Agreement"), pursuant to which the Original Loan Agreement is amended, restated, and reinstated. To satisfy one of the conditions precedent set forth in the Amended Loan Agreement, Borrower desires to amend the Security Documents to reflect the amendment, restatement, and reinstatement of the Original Loan Agreement and the other documents relating to the Loan.

the Security. Interest shall secure the payment and performance of the Company's obligations set forth in the Revenue Participation Notes to pay the Secured Parties, as and when received by the Company, 25% of each of the Abbxxx Xxyalty Payments (the "Obligations") in an amount up to the Aggregate Payment Amount, as described in the Revenue Participation Agreement.

the Security or "this security" means the security constituted by this Deed.