Security Provider Sample Clauses
The Security Provider clause identifies the party responsible for providing collateral or security in support of an obligation, typically within a loan or credit agreement. This clause specifies who must deliver assets, guarantees, or other forms of security to the lender or beneficiary, and may outline the types of acceptable security and the conditions under which it must be maintained. Its core practical function is to ensure that the lender or beneficiary has recourse to specific assets or guarantees if the primary obligor defaults, thereby reducing credit risk and enhancing the enforceability of the agreement.
Security Provider. The Security Provider may not assign, delegate or transfer any of its rights or obligations under this Agreement without the consent of the Lenders, and any purported assignment, delegation or transfer in violation of this provision shall be void and of no effect.
Security Provider. The Security Provider may not assign or transfer any of its rights or obligations under this Agreement without the consent of the Security Agent.
Security Provider. A copy of a resolution of the board of directors of each Conditions Subsequent (Phase 3) Obligor and Conditions Subsequent (Phase 3) Security Provider:
Security Provider. (a) It is a corporation or limited liability company, duly incorporated or formed and validly existing in good standing under the laws of its jurisdiction of incorporation or formation, as the case may be, as set forth on Schedule 1.
(b) Its exact legal name, as it appears in the public records of its jurisdiction of incorporation or organization, is set forth on Schedule 1. It has not changed its name, whether by amendment of its organizational documents, reorganization, merger or otherwise, since its date of incorporation or formation (other than Eagle Bulk Shipping Pte. Ltd. which changed its name to Eagle Management Consultancy Pte. Ltd. on or about May 25, 2012).
(c) Its organizational identification number, as issued by its jurisdiction of incorporation or formation is set forth on Schedule 1.
(d) The location of its chief executive office is set forth on Schedule 1. It has not changed its chief executive office within the past five years.
(e) It keeps at its address indicated in Clause 18 (Notices) its corporate records and all records, documents and instruments constituting, relating to or evidencing Collateral.
Security Provider. The Security Provider shall not be entitled to assign or transfer all or any of its rights, titles, interest or benefits (if any) nor any of its obligations under this Agreement.