SECURITY MEMORANDUM Sample Clauses
A Security Memorandum clause outlines the requirement for a borrower to provide a formal document—often called a security memorandum or security agreement—that details the security interests granted to a lender as collateral for a loan or obligation. This clause typically specifies the types of assets covered, the process for perfecting the security interest (such as registration or notification), and the borrower's ongoing obligations to maintain the security. By formalizing the security arrangement, this clause ensures the lender has a clear, enforceable claim over specified assets, thereby reducing credit risk and providing a mechanism for recovery in case of default.
SECURITY MEMORANDUM. The Intercreditor Agent shall have received a memorandum from ▇▇▇▇▇▇ & ▇▇▇▇▇▇▇ (London) LLP providing an overview of the main credit and security considerations for the Secured Parties that arise as a consequence of the terms of the TI Bond Consent Request Letter. NEW YORK BRANCH and SKANDINAVISKA ENSKILDA ▇▇▇▇▇▇ ▇▇ (PUBL.) 1. DEFINITIONS AND INTERPRETATION 2 1.1 Definitions 2 1.2 Interpretation 2 1.3 Third party rights 5
2.1 Term Loan Facility and Tranches 5 2.2 Secured Parties’ rights and obligations 6 2.3 Borrowers’ obligations 7 2.4 Obligors’ agent 7 2.5 Purpose 7 2.6 Monitoring 7 2.7 No further Utilisation 8 3.1 Conditions precedent to the Financing Date 8 3.2 Conditions precedent to each Utilisation 8
SECURITY MEMORANDUM. (a) The Parent shall procure that the Security specified in the Security Memorandum shall be provided at each stage specified in the Security Memorandum and the Security Agent agrees that the relevant Security shall be released (and, if required, subsequently retaken) at the appropriate stages as specified in the Security Memorandum.
(b) The Parent shall procure that the Target provides the appropriate Security specified in the Security Memorandum within 30 days of the Closing Date.
SECURITY MEMORANDUM. The Company shall have delivered to each Noteholder a security memorandum dated on or about the Effective Date (the "Security Memorandum") in the form of Exhibit 4.12.
SECURITY MEMORANDUM. The Intercreditor Agent shall have received a memorandum from ▇▇▇▇▇▇ & ▇▇▇▇▇▇▇ (London) LLP providing an overview of the main credit and security considerations for the Secured Parties that arise as a consequence of the terms of the Restructuring Consent Request Letter.