Examples of Permitted Security Interest in a sentence
Notwithstanding clause 15.1(a), the Lessee may grant a Trustee Permitted Security Interest in accordance with the Integrated Network Deed.
Notwithstanding clause 11.6(b), the Trustee may grant a Trustee Permitted Security Interest.
Negative Pledge 5.1 Each Issuer undertakes that it will not, and it will ensure that no other member of the Group shall, create or permit the creation of, or allow to subsist, any Security Interest over any of its assets other than a Permitted Security Interest unless the Holders are equally and rateably secured by (or, at the option of the Issuer, secured in priority to) such Security Interest.
A first ranking, pari passu, floating hypothecation charge on the loans, advances made by the Company, cash balance, bank balance and receivables of the Company which are classified as standard assets in accordance with applicable regulations of the RBI (hereinafter referred to as “Hypothecated Property”) with an asset cover of 1.25 times, and subject to Permitted Security Interest.
However, subject to maintenance of security coverage ratio, the company may create any mortgage or charge on any of the Secured Assets, other than the Permitted Security Interest, without obtaining the prior written approval of the Majority Debenture Holders and Debenture Trustee.