Australian Collateral definition

Australian Collateral means: (a) all Collateral Documents governed by the laws of any state or territory of Australia, and (b) all other Liens in respect of Collateral located in any state or territory of Australia (or taken to be located in any state or territory of Australia for the purposes of any stamp duty law).

Australian Collateral means all “Collateral” or “Secured Property” as defined in any Australian Security Document.

Australian Collateral means “Mortgaged Property” as defined in the Australian Deed of Guarantee and Indemnity.

Examples of Australian Collateral in a sentence

Collateral Agent further declares that it holds all Australian Collateral acquired by the Collateral Agent after the date hereof on trust for the benefit of the Secured Parties from time to time (it being understood that the provisions of this Section 9 apply to Collateral Agent in its capacity as trustee of such trust).
Upon any such resignation, the Required Australian Lenders shall have the right to appoint, on behalf of the Australian Borrower and the Lenders, a successor Australian Administrative Agent or Australian Collateral Agent, which shall be a financial institution with an office in New York City.
Such deposits shall be held by the U.S. Collateral Agent, the Canadian Collateral Agent or the Australian Collateral Agent, as the case may be, as collateral for the payment and performance of the Obligations.
Each of the Lenders and the Issuing Banks hereby irrevocably appoints RBC Europe to act on its behalf as the Australian Administrative Agent and Australian Collateral Agent hereunder and under the other Loan Documents.
Furthermore, and notwithstanding anything to the contrary contained herein, the LC Australian Collateral Agent shall act or refrain from acting with respect to the LC Australian Collateral only at the direction of the LC Administrative Agent.

More Definitions of Australian Collateral

Australian Collateral means all “Collateral” or “Secured Property” as defined in any Australian Security Document. “Australian Commitment Fee” shall have the meaning assigned to such term in Section 2.05(a).

Australian Collateral has the meaning assigned to the term “Collateral” in the Australian Pledge Agreement. “Australian Equity Notes” has the meaning assigned to the term “Equity Notes” in the Australian Pledge Agreement. “Australian Pledge Agreement” means the document entitled “Specific Security Deed (Equity Notes)” dated on or around the date of this Agreement between Kudu and the Administrative Agent. “Australian PPSA” means the Personal Property Securities Act 2009 (Cth). “Australian PPSR” means the “Personal Property Securities Register” established under section 147 of the Australian PPSA. “Availability Period” means the period commencing on the Closing Date and ending on the earlier of (i) March 23, 2024 or if an Availability Period Extension occurs pursuant to Section 2.17, the Availability Period Extension Date, and (ii) the date the Commitments are terminated in accordance with this Agreement, whether as a result of an Event of Default or otherwise, and subject to the suspension thereof upon the occurrence of an Event of Default or a Market Trigger Event. “Availability Period Extension” has the meaning given to such term in Section 2.17. “Availability Period Extension Date” has the meaning given to such term in Section 2.17. “Available Collections” means all cash Collections and other cash proceeds with respect to any Portfolio Asset deposited in any Collection Account and all other amounts on deposit in any Collection Account from time to time, but excluding Excluded Amounts. “Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to Section 2.06(c)(iv). “Bail‐In Action” means the exercise of any Write‐Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. USActive 58800445.158806140.10 -4- SK 28388 0001 10656366 v3

Australian Collateral. The assets owned by the Australian Borrower and the Australian Guarantors that constitute Collateral.

Australian Collateral means a collective reference to the collateral which is identified in, and at any time will be covered by, the Australian Collateral Documents.

Australian Collateral means all of the Australian Obligors’ right, title and interest in, to, and under all property and assets consisting of, whether now owned, held or owing to, and/or hereafter acquired by or arising in favor of any such Australian Obligor, and regardless of whether located, consisting of Inventory, receivables, Accounts and other related assets (including without limitation books, records, Documents and insurances Proceeds), all shares, stock, equity interests and other Investment Property, including the shares, stock, limited liability company, partnership and/or other similar ownership interests in any subsidiaries and/or any other Person, and any and all other assets which are subject to a Lien pursuant to the terms and conditions of any of the First Lien Facilities from time to time, and any Proceeds of any of the foregoing, in each case (subject to Section 10.09(ii) hereof) solely to the extent any such property and assets is subject to such Lien pursuant to the terms and conditions of any of the First Lien Facilities (which as of the A&R Effective Date, for the avoidance of doubt, does not include property or assets located in New South Wales or South Australia). Capitalized terms used in this definition of Australian Collateral and defined in the Code (and not otherwise defined in the Loan Documents) shall have the meaning given to them in the relevant Code.

Australian Collateral means all assets and interests in assets and proceeds thereof now owned or hereafter acquired by the Australian Loan Parties or any of their Subsidiaries in or upon which a Lien is granted by such Person in favor of the Australian Security Trustee under any of the Loan Documents. “Australian Corporations Act” means the Corporations Act 2001 (Cth) of Australia. “Australian Deemed Floorplan Borrowing Base” means commencing on the Closing Date and continuing until Australian Deemed Borrowing Base Termination Date, with respect to any Australian Borrower, as of any date of determination, the result of: (a) 60% of the amount of Eligible Accounts owing to an Australian Borrower, less the amount, if any, of the Dilution Reserve with respect to an Australian Borrower, plus (b) the product of 25% multiplied by the value (calculated at the lower of cost or market on a basis consistent with Australian Borrower’s historical accounting practices) of Eligible Parts and Attachments Inventory owned by an Australian Borrower at such time, plus (c) the product of 38% multiplied by the value (calculated at the lower of cost or market on a basis consistent with Australian Borrower’s historical accounting practices) of Eligible Inventory (excluding Eligible Parts and Attachments Inventory) owned by an Australian Borrower at such time, plus (d) if requested by the Australian Borrower to the Agent as noted in the then current Australian Floorplan Borrowing Base Certificate (any such included request, an “Australian Deemed Floorplan Borrowing Base Reallocation Notice”), a portion of the positive amount, if any, by which the U.S. Revolver Availability exceeds the total U.S. Revolver Usage of all U.S. Lenders on the date of such request and a portion of the positive amount, if any, by which the U.S. Floorplan Availability exceeds the total U.S. Floorplan Usage of all U.S. Lenders on the date of such request, may be reallocated to the Australian Deemed Floorplan Borrowing Base (without duplication of any such amounts reallocated to the Australian Deemed Floorplan Borrowing Base); provided that a Australian Floorplan Deemed Borrowing Base Reallocation Notice may only be delivered once in any calendar month and no more than six times in any Calendar year, and shall set forth the requested reallocation, and which reallocation shall become effective upon confirmation by the Agent that such reallocation would not cause the U.S. Revolver Usage to exceed the U.S. Revolver Borrowing Base, t...

Filter & Search

Related Definitions