Lender Security Clause Samples
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Lender Security. Any and all indebtedness of Borrower now or hereafter owed to Guarantor and all claims whenever arising of Guarantor against Borrower are hereby subordinated to the Obligations and assigned to Lender as additional collateral. If Lender so requests, any note or other instrument evidencing such indebtedness and all claims of Guarantor against Borrower shall be delivered to Lender, and such indebtedness and all claims of Guarantor against Borrower shall be collected, enforced and received by Guarantor as trustee for Lender and be paid over to Lender on account of the Obligations but without reducing or affecting in any manner the liability of Guarantor hereunder. Should Guarantor fail to collect proceeds of debt owed to Guarantor by Borrower, or fail to pay any such proceeds received by Guarantor pursuant to this Section 7 or otherwise to Lender, Lender as Guarantor's attorney-in-fact may do such acts and sign such documents in Guarantor's name as Lender considers necessary to effect such collection, and Guarantor hereby irrevocably appoints Lender as Guarantor's attorney-in-fact for such purposes.
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.1, the Generator, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's Security Agreement. For greater certainty, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's Security Agreement as the Secured Lender on behalf of the Lenders. A Secured Lender's Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the Generator, except as otherwise provided in this Agreement and the Lender Consent.
(b) A Secured Lender's Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not related to the Facility or cover any real or personal property of the Generator not related to the Facility. For greater certainty, a Secured Lender's Security Agreement may cover shares or partnership interests in the capital of the Generator.
(c) The AESO shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO for any or all of the same.
(d) No Secured Lender's Security Agreement shall be recognized by the AESO nor have status as such hereunder in the enforcement of the AESO's rights and remedies provided in this Agreement or by Applicable Law, unless and until: (i) a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO by the Generator or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's Security Agr...
Lender Security. NGrid agrees, if requested by Athens, to enter into an agreement (in form and substance reasonably acceptable to NGrid) with any Athens Finance Holder(s) (a “Collateral Assignment Consent”), pursuant to which NGrid will acknowledge the creation of security over Athens' rights under this Agreement and agree that, upon breach of this Agreement or any loan documents by Athens, such Athens Finance Holder shall:
(i) have the right within a reasonable period of time as specified therein to cure any breach of this Agreement complained of, provided the Athens Finance Holder agrees to perform Athens' obligations under the Agreement during the cure period; and
(ii) have the right, upon payment of all outstanding amounts due and payable to NGrid, to assume (or cause its designee to assume) all the rights and obligations of Athens under this Agreement. The foregoing notwithstanding, NGrid shall not be obligated to enter into any Collateral Assignment Consent that amends or purports to amend any term or condition of this Agreement, or that imposes or seek to impose any obligations or responsibilities on NGrid, other than as specifically set forth in (i) and (ii), above
Lender Security. Company agrees, if requested by Customer, to enter into an agreement (in a form reasonably acceptable to Company) with the Project Financing Holders, pursuant to which Company will acknowledge the creation of security over Customer's rights under this Agreement and agree that, upon breach of this Agreement or any loan documents by Customer or the insolvency of Customer, the Project Financing Holder shall:
(a) have the right within a reasonable period of time as specified therein to cure any breach of this Agreement complained of, provided the Project Financing Holder agrees to perform Customer's obligations under the Agreement during the cure period; and
(b) have the right, upon payment of all outstanding amounts due and payable to Company, to assume all the rights and obligations of Customer under this Agreement.
Lender Security. Notwithstanding Section 15.6, each Generator, from time to time after the date of this Agreement shall have the right, at its cost, to enter into one or more Secured Lender’s Security Agreements. For the avoidance of doubt, in the case of a Secured Lender’s Security Agreement that is a deed of trust or similar instrument securing bonds or debentures, the term “
Lender Security. Notwithstanding Section 16.5, the Supplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender’s Security Agreement. For the avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other lenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender’s Security Agreement as the Secured Lender on behalf of the lenders. A Secured Lender’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender’s Security Agreement may be made in respect of obligations for any amounts and uponsubject to any terms (including terms of theapplicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the Supplier, except as otherwise provided in this Agreement.
(b) No A Secured Lender’s Security Agreement shall affect or encumber in any mannermay secure any indebtedness, liability or obligation of the Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property in addition to the BuyerSupplier’s title to any government-owned premisesInterest. For greater certainty, a Secured Lender’s Security Agreement may cover shares or partnership interests in the capital of the Supplier.