Applicable Security Instruments for Guarantees definition

Applicable Security Instruments for Guarantees means, with respect to any Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business, (i) indemnity bonds issued by one or more financial institutions or other issuers, and on terms and conditions, reasonably acceptable, with respect to a Scheduled RemainCo Guarantee for the SpinCo Business, to RemainCo and, with respect to a Scheduled SpinCo Guarantee for the RemainCo Business, to SpinCo, with (A) the expiration date of such bonds being a date on or after the PCG End Date for such Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business and (B) the amounts of such bonds being, in the aggregate, not less than the Net Exposure for such Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business, or (ii) if the PCG End Date for such Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business is after the expiration date for any indemnity bonds contemplated by clause (i)(A), (A) irrevocable standby letters of credit issued by one or more financial institutions reasonably acceptable, with respect to a Scheduled RemainCo Guarantee for the SpinCo Business, to RemainCo and, with respect to a Scheduled SpinCo Guarantee for the RemainCo Business, to SpinCo, with the amounts of such letters of credit being, in the aggregate, not less than 25% of the Net Exposure for such Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business and with such letters of credit providing that they will remain in effect through the applicable PCG End Date (or, if they will not remain in effect through such date, that they may be drawn in full by the beneficiary thereof if such letters of credit have an expiration or termination date on or prior to the applicable PCG Date and such letters of credit are not, prior to 15 days before such expiration or termination, replaced with other letters of credit meeting the qualifications of this clause (ii)(A) or extended) and (B) indemnity bonds issued by one or more financial institutions or other issuers, and on terms and conditions, reasonably acceptable, with respect to a Scheduled RemainCo Guarantee for the SpinCo Business, to RemainCo and, with respect to a Scheduled SpinCo Guarantee for the RemainCo Business, to SpinCo, with (1) the expiration date of such bonds being no earlier than the earli...
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Applicable Security Instruments for Guarantees means, with respect to any Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business, (i) indemnity bonds issued by one or more financial institutions or other issuers, and on terms and conditions, reasonably acceptable, with respect to a Scheduled RemainCo Guarantee for the SpinCo Business, to RemainCo and, with respect to a Scheduled SpinCo Guarantee for the RemainCo Business, to SpinCo, with (A) the expiration date of such bonds being a date on or after the PCG End Date for such Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business and (B) the amounts of such bonds being, in the aggregate, not less than the Net Exposure for such Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business, or (ii) if the PCG End Date for such Scheduled RemainCo Guarantee for the SpinCo Business or Scheduled SpinCo Guarantee for the RemainCo Business is after the expiration date for any indemnity bonds contemplated by clause (i)(A), (A) irrevocable standby letters of credit issued by one or more financial institutions reasonably acceptable, with respect
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Related to Applicable Security Instruments for Guarantees

  • Security Instruments means, collectively, (a) the Mortgages, (b) the Transfer Letters, (c) the Pledge Agreements, (d) the Security Agreements, (e) each other agreement, instrument or document executed at any time in connection with the Pledge Agreements, the Security Agreements, or the Mortgages, (f) each agreement, instrument or document executed in connection with the Cash Collateral Account; and (g) each other agreement, instrument or document executed at any time in connection with securing the Obligations.

  • Mortgage Amendment has the meaning set forth in Section 6.12(a).

  • Security Instrument A written instrument creating a valid first lien on a Mortgaged Property securing a Mortgage Note, which may be any applicable form of mortgage, deed of trust, deed to secure debt or security deed, including any riders or addenda thereto.

  • Guaranty and Collateral Agreement means the Guaranty and Collateral Agreement dated as of the date of this Agreement executed and delivered by each Loan Party, together with any joinders thereto and any other guaranty and collateral agreement executed by a Loan Party, in each case in form and substance reasonably satisfactory to Administrative Agent.

  • Guarantee and Collateral Agreement the Guarantee and Collateral Agreement to be executed and delivered by the Borrower and each Subsidiary Guarantor, substantially in the form of Exhibit A, as the same may be amended, supplemented or otherwise modified from time to time.