Collateral Law definition

Collateral Law means the Luxembourg law on financial collateral agreements of 5 August 2005, as amended from time to time.
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Collateral Law means the Luxembourg law of 5 August 2005 relating to financial collateral arrangements, as amended. Effective Time means the moment the releases of the Pledge Agreements (as defined in the Master Release Agreement) become effective and all release formalities have been completed pursuant to the terms of the Master Release Agreement.
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Collateral Law means the Luxembourg law of 5 August 2005 relating to financial collateral arrangements, as amended. Enforcement Event means a notice of enforcement of security that has been given by the Security Agent which has not been revoked or rescinded following a Senior Secured Acceleration Event that is continuing. Group has the meaning given to such term in the Intercreditor Agreement.
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Examples of Collateral Law in a sentence

  • Upon the occurrence of an Enforcement Event, all rights and powers (including, without limitation, the right to collect and receive payments and other moneys due or payable) attaching to the Pledged Assets shall be vested in the Pledgee, in accordance with the Collateral Law.

  • After the occurrence of an Enforcement Event, such rights and powers may, at the discretion of the Pledgee, be exercised by the Pledgee in such manner as it sees fit in accordance with the terms of this Agreement, the Collateral Law and, to the extent applicable, the Intercreditor Agreement.

  • There should, however, pursuant to the Collateral Law, be no suspension of enforcement in relation to the pledge over the balances standing to the credit of the Transaction Accounts.

  • The pledge is used as a security for the discharge in full and payment of the Secured Obligations (in accordance with the Financial Collateral Law and the Royal Decree N°62 as defined in the contract).

  • Under the Luxembourg Collateral Law, the perfection of security interests depends on certain registration, notification and acceptance requirements.

  • In particular, but without limitation, the Collateral Agent shall be entitled to request direct payment of the Pledged Account Claims from the Account Bank and the Collateral Agent may proceed to a set-off between the Pledged Account Claims and the Secured Obligations in accordance with the terms of Article 11(3) and 11(1) (d) of the Financial Collateral Law.

  • Such instruction shall be the Customer’s obligation under the agreement in the understanding of the Financial Collateral Law and as such cannot be withdrawn unilaterally.

  • Collateral, Collateral Law and Collateral Substitutes (2nd ed.), International Labour Organization, Working Paper #26, 2001.

  • In accordance with the Financial Collateral Law, the Bank's rights to the Collateral shall not be amended, terminated or restricted by judgements of courts and other institutions, which must be executed in accordan- ce with the procedure specified in other regulatory enactments and on the basis of the execution documents issued on the basis of these judgements to the financial Collateral taker or his/her authorized person.

  • It is duty of administrator, liquidator or other persons appointed by the regulatory enactments, who make decisions according to the regulatory enactments on the legal protection process, liquidation or insolvency procedure, to provide for timely and due performance of the contractual obligations in compliance with all provisions of the Financial Collateral Law, Collateral Agreement and these Conditions.


More Definitions of Collateral Law

Collateral Law means the Luxembourg law of 5 August 2005 relating to financial collateral arrangements, as amended. Enforcement Event means occurrence of the agreement of the Super Majority Interim Lenders to enforce this Pledge pursuant to clause 23 (b) (Enforcement of the Transaction Security Documents) of the Interim Facilities Agreement following the occurrence of an Event of Default for which the Interim Agent has served a notice pursuant to paragraph (b) of clause 17.1 (Events of Default) of the Interim Facilities Agreement. Event of Default has the meaning given to such term in the Interim Facilities Agreement. Interim Document or Interim Documents has the meaning given to such term in the Interim Facilities Agreement.
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Related to Collateral Law

  • Collateral Requirement means the requirement that:

  • Pledge Agreement Collateral means all "Collateral" as defined in the Pledge Agreement.

  • Credit Agreement Collateral Documents means the Security Agreement, the other Collateral Documents (as defined in the Credit Agreement) and each other agreement entered into in favor of the Credit Agreement Collateral Agent for the purpose of securing any Credit Agreement Obligations.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Collateral and Guarantee Requirement means, at any time, the requirement that:

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under its sole dominion and control.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Initial Collateral Amount means $1,000,000,000, which equals the sum of (i) the Class A Note Initial Principal Balance, (ii) the Class B Note Initial Principal Balance, (iii) the Class C Note Initial Principal Balance and (iv) the Initial Excess Collateral Amount.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Basic Collateral Agency Agreement means the Amended and Restated Basic Collateral Agency Agreement, dated as of March 1, 2009, among Daimler Trust, the Administrative Agent, Daimler Title Co., as collateral agent, and MBFS USA, as lender and as servicer.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • Canadian Collateral means any and all property of any Canadian Loan Party covered by the Collateral Documents and any and all other property of any Canadian Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Canadian Secured Obligations.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • Second Priority Collateral Documents means the Noteholder Collateral Documents and any other agreement, document or instrument pursuant to which a Lien is now or hereafter granted securing any Second Priority Claims or under which rights or remedies with respect to such Liens are at any time governed.

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or pursuant to which any such Lien is perfected.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.