Agreement Security definition

Agreement Security means the irrevocable letter of credit provided by Operator pursuant to and in accordance with the terms of Section 7.07 of Article 7 of this Agreement.
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Agreement Security shall be the guarantee handed to the Concessionaire on the Signature Date, issued by a second-tier bank or an insurance company as per the definitions therein, upon the Concessionaire's request and in favor of the Contracting Authority”, equaling
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Agreement Security shall be defined as a contract bond, irrevocable letter of credit or other security acceptable to the Authority in an amount equal to three (3) months' estimated Rentals payable by the Airline under this Agreement. This Agreement Security is to guarantee the faithful performance by the Airline of its obligations and to guarantee the payment of all Rentals due hereunder. Such Agreement Security shall be with a company licensed to do business in the State of Indiana and such company shall be acceptable to the Authority within its reasonable discretion.
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Examples of Agreement Security in a sentence

  • Congress and each of the Borrowers have entered into an Accounts Financing Agreement [Security Agreement] dated as of January 11, 1990, as amended, and all supplements thereto and related financing and security agreements (all of the foregoing, as the same have been or may be amended, replaced, extended, modified, or supplemented, are referred to as the "Financing Agreements").

  • Under the terms of this Agreement: (check one) ☐ - The Lessee shall be required to pay [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER]) as a non-interest-bearing security deposit to secure the performance by the Lessee of the provisions and conditions of this Agreement ("Security Deposit").

  • For purposes of this Agreement, "Security Interest" means any mortgage, pledge, security interest, encumbrance, charge or other lien (whether arising by contract or by operation of law).

  • For the purpose of this Agreement, Security Interest means any mortgage, pledge, the right or interest of the third party, any purchase right of equity interest, right of acquisition, right of first refusal, right of set-off, ownership detainment or other security arrangements; however, it does not include any security interests created under Equity the Pledge Agreement entered into by Party A and Party B on the same day as this Agreement (“Equity Pledge Agreement”).

  • For purposes of this Agreement, "Security Interest" means any mortgage, pledge, security interest, encumbrance, charge, or other lien (whether arising by contract or by operation of law).

  • Borrower hereby ratifies and confirms the Credit Agreement, Security Agreement and all other instruments, documents and agreements executed by Borrower in connection with the Credit Agreement, and acknowledges and agrees that they remain in full force and effect, binding and enforceable against the Borrower in accordance with their terms.

  • Each Grantor agrees to promptly furnish to the Collateral Agent (and in any event within sixty (60) days of such change or such longer period as the Collateral Agent may agree or the Credit Facility Agent may agree with respect to the Credit Agreement Security Agreement) written notice of any change in: (i) such Grantor’s legal name; (ii) the location of such Grantor’s chief executive office; or (iii) such Grantor’s organizational legal entity designation or jurisdiction of incorporation or formation.

  • Each Grantor shall promptly notify the Collateral Agent in writing of any Commercial Tort Claims for which such Grantor has filed complaint(s) in court(s) of competent jurisdiction, unless the Collateral Agent otherwise consents or the Credit Facility Agent otherwise consents with regard to the Credit Agreement Security Agreement, and shall update Schedule 9 of the Perfection Certificate, thereby granting to the Collateral Agent a security interest in such Commercial Tort Claim(s).

  • Except as expressly provided in this Limited Waiver and Consent, the Credit Agreement, Security and Pledge Agreement and each other Loan Document shall continue to be, and shall remain, in full force and effect.

  • The Lender hereby acknowledges and agrees that its rights and obligations as “Lender” under the Collection Account Agreement, Security Deposit Account Agreement and each Cash Reserve Account Agreement are being held in its capacity as Collateral Agent for the benefit of the Secured Parties.

Related to Agreement Security

  • Investment security means a marketable obligation in the form of a bond, note, or debenture, commonly regarded as an investment security and which is salable under ordinary circumstances with reasonable promptness at a fair value.

  • Development Security means (i) cash or (ii) a Letter of Credit in the amount set forth on the Cover Sheet.

  • Government Security means book-entry Treasury securities (as defined in Subpart 0 of Treasury Department Circular No. 300, 31 C.F.R. 306) and any other securities issued or guaranteed by the United States government or any agency or instrumentality of the United States government.

  • Payment Security Mechanism shall have the meaning ascribed thereto in Article 10.4 of this Agreement;

  • Patent Security Agreement means each Patent Security Agreement executed and delivered by Grantors, or any of them, and Agent, in substantially the form of Exhibit B.