Existing Security. 3.1 The Borrower confirms that the Security Document:
Existing Security. If applicable, evidence in form and substance satisfactory to the Administrative Agent of the release and discharge of any existing mortgage or other Security Interest affecting any Relevant Vessel, or any other releases in connection with any interest which would or might otherwise, in the Administrative Agent’s opinion, adversely affect the security constituted by the Security Documents.
Existing Security. (i) No Security exists on or over its Assets or those of ALSTOM Holdings as at the date of the Amendment Agreements except as listed in Schedule 13 (Existing Security); and
Existing Security no security exists on or over any of the Charged Property except for the security created by this Charge or otherwise permitted under the Financing Documents; and
Existing Security. Save as permitted under Clause 19.12 (Negative pledge) no Security Interests exist on or over all or any of the present or future revenues or assets of any member of the Group save as disclosed in Schedule 6 (Schedule of Security Interests).
Existing Security. The Borrower and the Parent confirm that, in accordance with paragraph 27 of the Sanction Order, (a) the Liens granted pursuant to the Pre-Filing Credit Agreement (the “Existing Security”) shall remain in place and be reserved pending the execution, delivery and registration of the Security Documents pursuant to this Agreement and the delivery of all required consents to such Security Documents, and (b) no steps to perfect or reperfect (including registration or publication of any hypothecs) the Existing Security, other than any steps which are required generally under applicable provincial laws to maintain perfection of security interests (including registration or publication of any hypothecs), shall be required to secure the obligations of the Borrower and the Parent hereunder.
Existing Security. No Security exists on or over its assets or those of any other member of the Group except as permitted by Clause 22 (General Undertakings).
Existing Security. The Borrower and the Parent confirm that the Liens granted pursuant to the Pre-Filing Credit Agreement and the Existing Security shall remain in full force and effect as security for the obligations of the Borrower and the Parent hereunder, in addition to the Security Documents.
Existing Security. The Borrower shall, and shall cause its Subsidiaries to, use its best efforts to cause any pledge of securities and grant of mortgage over each of the Sites to be fully perfected in accordance with all applicable laws.
Existing Security. The Borrower shall, immediately upon receipt of the Existing Loans Repayment Confirmations and a copy of the executed Conditional Discharge, cooperate with, and assist, NIB and its counsel in discharging and releasing the Existing Security in a manner satisfactory to NIB, such that the Security shall become first ranking in priority and the Borrower shall take such other steps and actions as may be necessary or advisable to ensure that the Security becomes first ranking in a manner satisfactory to NIB.
