SECURITY FOR THE FACILITY Sample Clauses
The 'Security for the Facility' clause establishes the requirements for collateral or guarantees that a borrower must provide to secure a loan or credit facility. Typically, this clause outlines the types of assets—such as real estate, equipment, or receivables—that will serve as security, and may specify the process for perfecting security interests or maintaining the value of the collateral. Its core function is to protect the lender by ensuring there are sufficient assets to recover losses if the borrower defaults, thereby reducing the lender's risk exposure.
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SECURITY FOR THE FACILITY. A. The Facility together with all interest, all fees, commitment charges, costs, charges, expenses and other monies whatsoever stipulated in or payable under this Agreement and the other Transaction Documents shall be secured by Primary/ Collateral Security as specified in Schedule III (a) of this Agreement
B. The security will be created in favour of the Bank, as required by the Bank, in a form and manner acceptable to the Bank.
C. The Borrower shall make out / ensure that the third party security provider (if any) shall, make out a good and marketable title to its properties to be mortgaged to the Bank and comply with all such formalities as may be necessary or required for the said purpose. In case the Borrower / third party security provider is a company, the particulars of charges shall be filed with the Registrar of Companies within the period prescribed by law.
SECURITY FOR THE FACILITY. If the Principal agrees in writing to provide security for the facility to secure the Principal’s obligation to repay amounts on the card account, then:
(a) the Principal must deliver the agreed security in a form acceptable to us before you use the card or we provide a cash advance; and
(b) the Principal must comply with all the terms and conditions of the security; and
(c) the Principal must pay reasonable costs in arranging, administering (including registering and enforcing), releasing and terminating the security and all stamp and other duties, fees, taxes and charges payable in connection with the security; and
(d) where we hold, or during the term of the facility acquire, security of any description securing any other liabilities the Principal may have to us, the Principal’s liability under the facility will also form part of the money secured by that security.
SECURITY FOR THE FACILITY i. The Facility together with all interest, all fees, commitment charges, costs, charges, expenses and other monies whatsoever stipulated in or payable under this Agreement and the other Transaction Documents shall be secured by Primary/ Collateral Security as specified in Schedule III (a) of this Agreement.
ii. The security will be created in favour of the Bank, as required by the Bank, in a form and manner acceptable to the Bank.
iii. The Pledgor/s shall make out / ensure that the third party security provider (if any) shall, make out a good and marketable title to its properties to be mortgaged to the Bank and comply with all such formalities as may be necessary or required for the said purpose. In case the Pledgor/s / third party security provider is a company, the particulars of charges shall be filed with the Registrar of Companies within the period prescribed by law, wherever required.
iv. Bank will also be entitled to enforce security upon any breach or default in the performance or observance of these presents and/or the security documents and/or any other terms and conditions relating to the cash credit facility and/or compliance of any other instructions/directions of the Bank.
v. The gold ornaments described in the take delivery letter which have already been delivered to the Bank and which the Pledgor/s may offer as security and which may be accepted by the Bank and which shall hereafter be delivered to the Bank under this instrument whether for the purpose of forming additional security for any sum already drawn or as security for any sum or sums to be drawn against the said cash credit account or by way of substitution for or in lieu of any gold ornaments which may from time to time have been delivered or may be delivered to the Bank under this instrument or otherwise, (hereinafter called “ the securities”) are hereby pledged to the Bank and stand pledged to the Bank or are deemed to have been so pledged as collateral security to the Bank for the payment by the Pledgor/s of the balance due at any time or ultimately on the closing of the said cash credit account and for the payment of all debts and liabilities mentioned in this deed. The expression “balance due to the Bank” in this or in any clause in this instrument shall be taken to include the principal moneys due from time to time on the said cash credit account and also of interest thereof calculated from day to day at the rate hereinafter mentioned and the amount of all charges and expe...
SECURITY FOR THE FACILITY. (i) As security for the due and punctual payment and performance of all of the terms and conditions of the Loan Documents, the Borrower and such other Person shall execute and deliver, or cause to be executed and delivered, to the Bank on the Closing Date, the following Loan Documents:
(a) This Agreement;
(b) The Security Agreement;
(c) The Subsidiary Security Agreement;
(d) The Pledge Agreement;
(e) The Patent Security Agreement;
(f) The Trademark Security Agreement;
(g) The Copyright Security Agreement;
SECURITY FOR THE FACILITY. The Facility together with all interest, all fees, commitment charges, costs, charges, expenses and other monies whatsoever stipulated in or payable under this Agreement and the other Transaction Documents shall be secured by Primary/ Collateral Security as specified in Schedule III (a) of this Agreement
SECURITY FOR THE FACILITY. CMP hereby acknowledges that pursuant to Section 3.1 of the Agreement, as amended hereby, CMP grants a security interest to Agent, for the ratable benefit of the Lenders, in all of CMP's right, title and interest in and to the Collateral.
SECURITY FOR THE FACILITY. The Facility together with all interest, Defaulted Amounts, LC Outstanding, Bills Outstanding, commissions, costs, charges, expenses and other monies whatsoever stipulated in or payable under the Facility Agreement shall be secured by:
1. An exclusive charge by way of hypothecation in favour of ICICI Bank of the Company’s all movable properties, including movable machinery, machinery spares, tools and accessories, imported under the LCs provided to the Borrower under this Agreement.
SECURITY FOR THE FACILITY. If you agree to provide security for the facility, then you have to deliver the agreed security before you use the facility or we provide a cash advance. Generally, you won’t be liable for unauthorised transactions if it’s clear you or the cardholder didn’t contribute to losses resulting from those transactions. Where you’re liable, your liability is limited as set out in the conditions. However, in some circumstances, you may be liable for a greater amount. Transactions by use of a card and PIN. You’ll be liable for actual losses resulting from an unauthorised card transaction in various situations, including if: • the cardholder contributed in a way set out in the conditions (e.g. the cardholder voluntarily disclosed a PIN to anyone or is extremely careless in protecting the security of the PIN)
SECURITY FOR THE FACILITY. The Facility together with all interest, Defaulted Amounts, LC Outstanding, Bills Outstanding, commissions, costs, charges, expenses and other monies whatsoever stipulated in or payable under the Facility Agreement shall be secured by:
1. An exclusive charge by way of hypothecation in favour of ICICI Bank of the Company’s all movable properties, including movable machinery, machinery spares, tools and accessories, imported under the LCs provided to the Borrower under this Agreement.
2. Corporate Guarantee from Sterlite Industries (India) Limited (Guarantor) for the entire amount of the Facility Exclusive Pledge of the Goods: The Company agrees that the Goods shall be deemed to have been pledged to ICICI Bank upon delivery of Documents to ICICI Bank or its agents by the Company or by any person on Company’s behalf
SECURITY FOR THE FACILITY