Collateral Instrument definition

Collateral Instrument means any note, ▇▇▇▇ of exchange, certificate of deposit or other negotiable or non‑negotiable instrument, guarantee, letter of credit, deposit agreement, indemnity or other assurance against financial loss, or any other document or instrument which contains or evidences an obligation (with or without security) to pay, discharge or be responsible directly or indirectly for, any indebtedness or liabilities of the Company, and includes any document or instrument creating or evidencing an encumbrance, however defined and includes, without limitation, an escrow agreement;

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Collateral Instrument means notes, bills of exchange, certificates of deposit and other negotiable and non-negotiable instruments, guarantees, indemnities and any other documents or instruments which contain or evidence an obligation (with or without security) to pay, discharge or be responsible directly or indirectly for, any liabilities of any person and includes any document or instrument creating or evidencing a Security.

Collateral Instrument means any note, ▇▇▇▇ of exchange, certificate of deposit and other negotiable and non-negotiable instruments, guarantees, indemnities and other assurances against financial loss and any other documents or instruments which contain or evidence an obligation (with or without security) to pay, discharge or be responsible directly or indirectly for, any indebtedness or liabilities of the Borrowers or either of them or any other person liable under the Security Documents and includes any documents or instruments creating or evidencing a mortgage, charge (whether fixed or floating), pledge, lien, hypothecation, assignment, trust arrangement or security interest of any kind;

Examples of Collateral Instrument in a sentence

• All the rights, remedies and powers vested in the Mortgagee hereunder shall be in addition to and not a limitation of any and every other right, power or remedy vested in the Mortgagee under the Loan Agreement, this Deed, the other Security Documents or any Collateral Instrument or at law and all the powers so vested in the Mortgagee may be exercised from time to time and as often as the Mortgagee may deem expedient.

• All the rights, powers and remedies vested in the Collateral Agent hereunder shall be in addition to and not a limitation of any and every other right, power or remedy vested in the Collateral Agent under the Credit Agreement, this Deed, the other Security Documents or any Collateral Instrument or at law and all the rights, powers and remedies so vested in the Collateral Agent may be exercised from time to time and as often as the Collateral Agent may deem expedient.

• All the rights, powers and remedies vested in the Mortgagee hereunder shall be in addition to and not a limitation of any and every other right, power or remedy vested in the Mortgagee under the Corporate Guarantee, the Loan Agreement, the Master Swap Agreement, this Mortgage, the other Security Documents or any Collateral Instrument or at law and all the rights, powers and remedies so vested in the Mortgagee may be exercised from time to time and as often as the Mortgagee may deem expedient.

• All the rights, powers and remedies vested in the Mortgagee hereunder shall be in addition to and not a limitation of any and every other right, power or remedy vested in the Mortgagee under the Loan Agreement, this Deed, the other Security Documents or any Collateral Instrument or at law and all the rights, powers and remedies so vested in the Mortgagee may be exercised from time to time and as often as the Mortgagee may deem expedient.

• Such liabilities shall, without limitation, include interest (as well after as before judgment) to date of payment at such rates and upon such terms as may from time to time be agreed, commission, fees and other charges and all legal and other costs, charges and expenses on a full and unqualified indemnity basis which may be incurred by the Bank in relation to any such moneys, obligations or liabilities or generally in respect of the Borrower, the Guarantor or any Collateral Instrument.

• All the rights, remedies and powers vested in the Mortgagee hereunder shall be in addition to and not a limitation of any and every other right, power or remedy vested in the Mortgagee under the Loan Agreement, this Deed, the other Security Documents or any such Collateral Instrument or at law and that all the powers so vested in the Mortgagee may be exercised from time to time and as often as the Mortgagee may deem expedient.

• If the Secured Liabilities are partially paid out of any proceeds received in respect of or on account of any Restricted Payment, the Creditor will not be subrogated to the Secured Liabilities so paid (or any Collateral Instrument) until the Secured Liabilities have been irrevocably paid in full.

• The Creditor agrees to be bound by this Deed notwithstanding that any other person intended to execute or to be bound by any Collateral Instrument may not do so or may not be effectively bound and notwithstanding that such other Collateral Instrument may be determined or be or become invalid or unenforceable against any other person, whether or not the deficiency is known to the Security Trustee or any of the Beneficiaries.

• If the Secured Obligations are partially paid out of any proceeds received in respect of or on account of any Subordinated Liabilities, the Creditor will not be subrogated to the Secured Obligations so paid (or any Collateral Instrument) until the Secured Obligations have been irrevocably paid in full.

• The Subordinated Creditor agrees to be bound by this Deed notwithstanding that any other person intended to execute or to be bound by any Collateral Instrument may not do so or may not be effectually bound and notwithstanding that such other Collateral Instrument may be determined or be or become invalid or unenforceable against any other person, whether or not the deficiency is known to the Security Trustee or any of the other Beneficiaries.

More Definitions of Collateral Instrument

Collateral Instrument means any Letter of Credit, Performance Bond or Guarantee issued, extended or renewed by the Issuing Bank for the account of the Borrower pursuant to Clause 2B hereof.