Permitted Security amend the definition of “Permitted Security Interest” to include Security Interests in addition to the existing “Permitted Security Interests” on (a) proceeds from the offering of any debt securities or other Financial Indebtedness (and accrued interest thereon) paid into escrow accounts with an independent escrow agent on the date of the applicable offering or incurrence pursuant to escrow arrangements that permit the release of amounts on deposit in such escrow accounts upon satisfaction of certain conditions or the occurrence of certain events for the benefit of the related holders of debt securities or other Financial Indebtedness (or the underwriters or arrangers thereof) or (b) cash set aside at the time of the incurrence of any Financial Indebtedness or government securities purchased with such cash, in either case, to the extent such cash or government securities prefund the payment of interest on such Financial Indebtedness and are held in escrow accounts or similar arrangement to be applied for such purpose.
Permitted Security amend the definition of “Permitted Security Interest” to include in addition to the existing “Permitted Security Interests”:
Permitted Security. Amend the definition of “Permitted Security Interest” in Clause 23.8(b) (Negative pledge) as follows:
Permitted Security. For the avoidance of doubt, nothing in this Section 2 (Creation of Security) will prevent the Grantors from permitting to subsist or granting any other Permitted Security.
Permitted Security amend Clause 23.8 (Negative Pledge) as follows:
Permitted Security. (a) At paragraph (k) of the definition of Permitted Security Interest in Clause 1.1 (Definitions), insert the words “or any Refinancing Indebtedness in respect of such Finance Leases, sale and leaseback arrangements or Vendor Financing Arrangements” after reference to “Clause 19.13(b)(xviii) (Restrictions on Financial Indebtedness)”.
Permitted Security. (a) Lender hereby consents to the security interests of the Subordinated Creditor in the collateral set forth on Exhibit C hereto (the “Subordinated Creditor Collateral”).
Permitted Security. For the avoidance of doubt, nothing in this Agreement will prevent the Pledgor from permitting to subsist or granting any other security interest in the Collateral under the Membership Interests Second Lien Pledge Agreement.
Permitted Security. Tenant shall provide the Security Deposit to Landlord in the form of one or more letters of credit (“LC”) meeting the criteria set forth in Section 3(E)(7) (“Permitted Security”); provided that, the aggregate number of LCs forming a part of the security Deposit shall at no time exceed four (4). Tenant shall immediately notify Landlord in writing if Tenant acquires actual knowledge (from a source other than Landlord) that any LC provided to Landlord no longer constitutes Permitted Security.
Permitted Security. INTRA-GROUP LIABILITIES
