Subordinate Security definition

Subordinate Security means all liens, charges, pledges, security interests and other security agreements of any nature or kind, now or hereafter granted by the Borrower or any of its Subsidiaries to any Subordinate Party which secures payment and/or performance of the Subordinate Debt;
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Subordinate Security means all liens, charges, pledges, security interests, hypothecs and other security agreements of any nature or kind, now or hereafter granted by the Borrower or any of its Subsidiaries to any Subordinate Party which secures payment and/or performance of the Subordinate Debt;
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Subordinate Security means all liens, charges, pledges, hypothecs, mortgages, assignments, security interests and other encumbrances of any nature or kind, now or hereafter granted, created or assumed by the Company or any other person in or over all or any of the Collateral and held by or on behalf of any Purchaser, including all amendments, modifications, restatements, supplements or replacements thereof or thereto from time to time. Without limiting the generality of the foregoing, Subordinate Security includes all security agreements granted to any Purchaser by the Company and all security interests of any Purchaser now or at any time in the future perfected by registration in any jurisdiction under any personal property security legislation.
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Examples of Subordinate Security in a sentence

  • No discharge, release or waiver by the Senior Lender of any of the Senior Security against or in respect of any part of the Property or any person shall require notice to or the consent of the Subordinate Lender or otherwise affect the subordination and postponement of the Subordinate Indebtedness and the Subordinate Security hereby granted by the Subordinate Lender other than with respect to the Property or person in respect of which or whom the Senior Security is so discharged, released or waived.

  • No amendment, renewal, extension, replacement, modification, supplement or restatement of any Senior Indebtedness and/or the Senior Security (each, a "Modification") shall require the consent of the Subordinate Lender or otherwise affect the subordination and postponement of the Subordinate Indebtedness and the Subordinate Security hereby granted by the Subordinate Lender.

  • All insurance, expropriation and condemnation proceeds relating to the Property shall be dealt with and applied, whether before or after any Event of Default under or in respect of the Senior Indebtedness or the Subordinate Indebtedness, in accordance with the provisions of the Senior Commitment Letter and/or the Senior Security notwithstanding any provision to the contrary in the Subordinate Security.

  • The Subordinate Security Instrument is and shall be subject and subordinate in all respects to the liens, terms, covenants and conditions of the First Lien Security Instrument.

  • Provided, however, the Lender’s obligation to release and cancel the Subordinate Security Instrument for a Catastrophic Event shall only remain effective during such time as the Combined Loan-to-Value Ratio exceeds 100%.


More Definitions of Subordinate Security

Subordinate Security. Any Security other than a Senior Security.
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Subordinate Security has the meaning ascribed to that term in Section 2.2 of this Agreement.
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Subordinate Security. Any Class M-1 Note, Class M-2 Note or Residual -------------------- Interest Certificate.
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Subordinate Security. Any of the Class B-1 Securities, Class B-2 Securities, Class B-3 Securities, Class B-4 Securities, Class B-5 Securities or Class B-6 Securities.
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Subordinate Security means bonds or other securities or obligations relating to the Airport, payable from Revenues, and having a lien thereon subordinate and junior to the lien thereon of the Bonds. Terminal Building shall mean the passenger Terminal Building constructed by CITY as illustrated on Exhibit A and as the passenger Terminal Building may be modified, changed or enlarged.
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Subordinate Security means all security provided by the Companies to the Subordinate Lender pursuant to the Subordinate Credit Agreement;
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