Closing Security definition

Closing Security means the unconditional, irrevocable, on-demand bank guarantee or letter of credit (and any replacement guarantee or letter of credit) in favour of the Government in a form reasonably acceptable to the Government on or before signing of this Agreement and issued by a financial institution acceptable to the Government in an amount of [redacted information], to secure the Concessionaire's obligation under Clause 2.2 and the Concessionaire’s obligation to achieve the Effective Date and otherwise satisfy the conditions set forth in Clause 2.2 that the Concessionaire is responsible for, by the Required Effective Date;
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Closing Security is defined in Section 65.
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Closing Security has the meaning set forth in Section 2.3.
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Examples of Closing Security in a sentence

  • The occurrence of the Commercial Closing Date is subject to (i) the Closing Security having been executed and delivered to the Authority and having become fully effective in accordance with its terms and (ii) Developer’s compliance with Sections 1.3.1 and 1.4.2 of Attachment GC6 to the General Conditions.

  • The Closing Security shall have been executed and delivered to the Department and shall have become fully effective in accordance with its terms.

  • If any of the Section Developer's conditions precedent are not satisfied or waived by the Financial Close deadline, MDOT may: (A) draw and retain the full amount of the Closing Security, and (B) terminate the Section P3 Agreement and may have recourse against the Phase Developer as set out in the Phase P3 Agreement.

  • On the Commercial Closing Date, the Section Developer shall deliver to MDOT an irrevocable standby letter of credit or demand guarantees in the aggregate amount of $10 million (the "Closing Security").

  • Further, as a condition of Closing, Security Deposits (cash or otherwise) shall be credited to and/or delivered to Buyer at Closing in the required amount under each respective tenant’s lease, notwithstanding any charge made against such Security Deposit by Seller prior to the Effective Date.

  • From the Closing Security Delivery Date up to the Time of Closing, the Parties shall cooperate with each other and with the Cruise Lines to ensure the orderly transition of control, custody, operation, management, maintenance, improvement, enhancement, development and rehabilitation of the Cruise Port Facility at the Time of Closing.

  • At the Execution Date, the Concessionnaire shall issue in favor of the Contracting Authority the Closing Security.

  • The Closing Security designates the Smithsonian as the 808 beneficiary.

  • The Concessionaire acknowledges that it has provided to the Authority the Closing Security as security for the Concessionaire’s commitment to achieve the Closing, and the Authority acknowledges that it has received the Closing Security from the Concessionaire.

  • The Closing LOC and the Closing Surety Bond (as applicable) shall be effective as of the day following the Outside Closing Security Delivery Date or such later date agreed in writing between the Parties.


More Definitions of Closing Security

Closing Security means an irrevocable standby letter of credit in the amount of $40,000,000 and substantially in the form set out in Form 5 (Form of Closing Security).
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Closing Security means a Letter of Credit in favor of the Authority, in form and substance reasonably acceptable to the Authority, providing that it is payable only in accordance with Section 3.3(f) in the amount of $1,000,000.
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Closing Security means [e.g. the temporary global bond];
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Closing Security means the security issued by a bank in favor of the Contracting Authority in respect to the Concessionaire’s obligations during the Interim Period to be provided by the Concessionaire to the Contracting Authority in the agreed form, in compliance with the requirements of Clause 30.1 (Closing Security).
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Related to Closing Security

  • Closing Securities shall have the meaning ascribed to such term in Section 2.1(a)(ii).

  • Existing Security means any Security granted by any Person over its Assets in respect of any Relevant Indebtedness and which is existing at the relevant Issue Date or at the time any such Person becomes a Material Subsidiary or whose business and/or activities, in whole or in part, are assumed by or vested in the Issuer or a Material Subsidiary after the relevant Issue Date (other than any Security created in contemplation thereof) or any substitute Security created over those Assets (or any part thereof) in connection with the refinancing of the Relevant Indebtedness secured on those Assets provided that the principal, nominal or capital amount secured on any such Security may not be increased;

  • Underlying Security means a security issued or transferred, or to be issued or transferred, in accordance with the terms of a convertible security, an exchangeable security or a multiple convertible security;

  • participating security means a security title to units of which is permitted by an operator to be transferred by means of a relevant system;

  • Existing Securities means, collectively, the Equity Securities and the Debt Securities.

  • voting security means any security presently entitling the owner or holder thereof to vote in the direction or management of the affairs of a person, or any security issued under or pursuant to any trust, agreement or arrangement whereby a trustee or trustees or agent or agents for the owner or holder of such security are presently entitled to vote in the direction or management of the affairs of a person.

  • APM Qualifying Securities means, with respect to an Alternative Payment Mechanism, any Debt Exchangeable for Preferred Equity or any Mandatory Trigger Provision, one or more of the following (as designated in the transaction documents for any Qualifying Capital Securities that include an Alternative Payment Mechanism or a Mandatory Trigger Provision or for any Debt Exchangeable for Preferred Equity, as applicable):

  • Existing Secured Notes means the previously issued debt securities of the Issuers outstanding on the date hereof.

  • restricted voting security means a restricted security that carries a right to vote subject to a restriction on the number or percentage of securities that may be voted or owned by one or more persons or companies, unless the restriction is

  • Controlling Securities means (i) the Class A Notes so long as the Class A Notes are outstanding, (ii) after the Class A Notes are no longer outstanding, the Class B Notes so long as the Class B Notes are outstanding and (iii) after the Class B Notes are no longer outstanding, the Class C Notes so long as the Class C Notes are outstanding.

  • non-voting security means a restricted security that does not carry the right to vote generally, except for a right to vote that is mandated, in special circumstances, by law;

  • Controlling Secured Parties means, with respect to any Shared Collateral, the Series of First Lien Secured Parties whose Authorized Representative is the Applicable Authorized Representative for such Shared Collateral.

  • Qualifying Securities means securities issued by the Issuer that:

  • Closing Purchase Price shall have the meaning ascribed to such term in Section 2.1(b), which aggregate purchase price shall be net of the underwriting discounts and commissions.

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

  • Buyer Closing Certificate has the meaning set forth in Section 7.03(d).

  • Seller Closing Certificate has the meaning set forth in Section 7.02(d).

  • Non-Controlling Secured Parties means, with respect to any Shared Collateral, the First Lien Secured Parties which are not Controlling Secured Parties with respect to such Shared Collateral.

  • Existing Security Agreement shall have the meaning set forth in the recitals.

  • Seller's Closing Certificate means the certificate of Seller in the form of Exhibit C attached hereto.

  • Closing Payment Amount will have the meaning set forth in Section 1.3(a).

  • Closing Consideration shall have the meaning set forth in Section 2.1(b).

  • Company Voting Securities means the combined voting power of all outstanding voting securities of the Company entitled to vote generally in the election of directors to the Board.

  • Closing Stock Price means the Stock Price as of the last day of any Performance Measurement Period.

  • Continuing ownership interest means ownership of or entitlement to more than twenty five per cent of shares or capital or profits of the company;

  • Closing Notice Has the meaning specified in the NPA. Company: Has the meaning specified in the first paragraph of this Trust Supplement.