Class B Security definition

Class B Security means any of the securities executed by the Transferor and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit B hereto.
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Class B Security means the assets of the Borrower subject to a first priority security interest to be mutually agreed between the Borrower and the Bank and such other collateral to be mutually agreed between the Borrower and the Bank, all such security to be in form, value and substance satisfactory to the Bank.
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Examples of Class B Security in a sentence

  • The Class B Security shall be delivered as a Registered Security as provided in Section 6.1 of the Agreement.

  • Each Class A Security, Class B Security and Collateralized Trust Obligation will bear a legend or legends in substantially the following form: EACH PURCHASER REPRESENTS AND WARRANTS FOR THE BENEFIT OF FINGERHUT RECEIVABLES, INC.

  • Subject to the Class B Security Documents, such Stockholder has the power to dispose of such Class B Shares and to vote such Class B Shares on all matters submitted to holders of shares of Class B Common Stock.

  • Other than the Class B Security Documents and the limitations and restrictions therein, such Stockholder owns all of its Class B Shares free and clear of other security interests, liens, claims, pledges, options, rights of first refusal, agreements, limitations on voting rights, restrictions, charges, proxies and other encumbrances of any nature, and has not appointed or granted any proxy, which appointment or grant is still effective, with respect to any of such Class B Shares now owned by them.

  • Each Class A Security and Class B Security and each Collateralized Trust Obligation that is a CTO Global Security deposited with DTC, or a custodian on behalf of DTC, shall bear the following legend: UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.

  • The Servicer, the Trustee, the Paying Agent and the Transfer Agent and Registrar and any agent of any of them, may treat the person in whose name this Class B Security is registered as the owner hereof for all purposes, and neither the Servicer nor the Trustee, the Paying Agent, the Transfer Agent and Registrar, nor any agent of any of them, shall be affected by notice to the contrary except in certain circumstances described in the Agreement.

  • Each Grantor is duly authorized and empowered to enter into, execute, deliver and perform this Agreement and each of the other Class B Security Documents to which it is a party.

  • Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee, by manual signature, this Class B Security shall not be entitled to any benefit under the Agreement or the Supplement or be valid for any purpose.

  • The respective percentages of each Class B Security for which the election has been made and has not been made will not be separable at any time, and each Class B Preferred Security will at all times consist of a single security with a liquidation preference amount of U.S.$25.

  • Final payment of this Class B Security will be made only upon presentation and surrender of this Class B Security at the office or agency specified in the notice of final distribution delivered by the Trustee to the Series 1998-3 Securityholders in accordance with the Agreement and the Supplement.