Account Security definition
Account Security means a document creating Security over any Earnings Account in agreed form.
Account Security means, in relation to an Account, a deed or other instrument by the Borrower in favour of the Security Agent in an agreed form conferring a Security Interest over that Account.
Account Security means a document creating Security over the Earnings Accounts in agreed form.
Examples of Account Security in a sentence
The Borrower shall maintain in the Earnings Account, from the Utilisation Date and at all times thereafter during the Security Period, credit balances in an aggregate amount of not less than $500,000 (the “Minimum Liquidity”) which shall be blocked therein and pledged in favour of the Lender pursuant to the Account Security.
Each Borrower shall maintain in its Earnings Accounts, from the Utilisation Date in respect of the Ship to be owned by it and at all times thereafter during the Security Period, credit balances in an aggregate amount of not less than $500,000 per Ship (the “Minimum Liquidity”) which shall be blocked therein and pledged in favour of the Lender pursuant to the relevant Account Security.
More Definitions of Account Security
Account Security. System shall mean Visa’s Card Information Security Protection or CISP program and Account Information Security or AIS program, the MasterCard Site Data Protection Program, including the Payment Card Industry Data Security Standards (“PCI”) and any analogous account information security program of any other Card Association whose Cards are included in the Program, as those account information security programs may be modified or replaced by the applicable Card Association from time to time.
Account Security means the deed of charge or pledge or other legal instrument executed or to be executed by the Charterers in Agreed Form in favour of the Security Trustee conferring a Security Interest over the Earnings Account and all amounts from time to time standing to the credit to the Earnings Account.
Account Security means the charge over the Accounts granted or to be granted by the Borrower and the Vessel Owners referred to in Clause 10.1.5.
Account Security means each document creating security in respect of any Account, in agreed form.
Account Security means each assignment agreement and/or account security deed, collateral to this Agreement for the provision of a Security Interest in the Earnings Accounts to be made between the relevant Obligors and the Security Agent (on behalf of the Finance Parties) as security for the Obligors’ obligations under the Finance Documents, in form and substance satisfactory to the Finance Parties.
Account Security means, in relation to an Account, a deed or other instrument by the relevant Account Holder(s) in favour of the Security Agent in an agreed form conferring a Security Interest over that Account. Accounting Reference Date means 31 December or such other date as may be approved by the Lenders. Additional Cost Rate has the meaning given to it in Schedule 5 (Mandatory Cost formulae).
Account Security the Credit Union requires the following account security: