Collateral Security definition

Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

Collateral Security means any security (including any loan mortgage insurance in respect of the Mortgage Loan and excluding Mortgages) granted to any Seller by any Debtor in order to guarantee or secure the payment and/or repayment of any amounts due under the relevant Mortgages Loan Agreements.

Collateral Security means, with respect to any Contract, (i) the security interests granted by or on behalf of the related Obligor with respect thereto, including a first priority perfected security interest in the related Manufactured Home, (ii) all other security interests or liens and property subject thereto from time to time purporting to secure payment of such Contract, whether pursuant to the agreement giving rise to such Contract or otherwise, together with all financing statements signed by the Obligor describing any collateral securing such Contract, (iii) all guarantees, insurance and other agreements or arrangements of whatever character from time to time supporting or securing payment of such Contract whether pursuant to the agreement giving rise to such Contract or otherwise, and (iv) all records in respect of such Contract.

Examples of Collateral Security in a sentence

• The Client acknowledges that the Bank is entitled, but not obliged, to exercise a direct right of satisfaction in respect of the Cash Collateral Security once the Bank's right of satisfaction has accrued and that the Bank is also entitled to set-off.

• The Client acknowledges that, if the Client is entitled to interest on the Cash Collateral Security under a separate agreement, the amount of the Cash Collateral Security will be increased by the amount of the pro rata interest without any further legal action.

• If the Bank's right of satisfaction accrues, the Bank is entitled – by unilateral declaration addressed to the Client – to obtain ownership of the object of the collateral security from the Cash Collateral Security in accordance with the provisions of the Investment Firms Act and the Civil Code up to the amount of the secured claim.

• If the Bank’s right of satisfaction accrues, the Bank is entitled to satisfy its claims directly from the Cash Collateral Security and to set it off against the amount owed by the Client under the Framework Agreement.

• If the Bank’s right of satisfaction in connection with the Securities Collateral Security accrues, it shall be entitled to directly access said Securities Collateral Security for purposes of satisfaction.

More Definitions of Collateral Security

Collateral Security means the security provided in addition to the primary security, in connection with the credit facility extended by a lending institution to a borrower.

Collateral Security means any Security Interest, Guarantee or other document or agreement at any time created or entered into as security for any Secured Money.

Collateral Security means, with respect to any Receivable, (i) the security interest, if any, granted by or on behalf of the related Dealer in the related Products or Accounts Receivable that, in each case, constitute the primary collateral for such Receivable but does not include secondary collateral such as personal property, personal guarantees, mortgages on real estate, assignments of certificates of deposit, or letters of credit and (ii) all Records in respect of such Receivable.’’;

Collateral Security means, with respect to any Receivable, all collateral security granted by or on behalf of the related Dealer with respect thereto, including a first priority perfected security interest in the related Vehicle, certain parts inventory, equipment, fixtures, service accounts or realty with respect to such Dealer and all guarantees of any Receivable.

Collateral Security means with respect to any Receivable: (a) the related invoice, and (b) the Lien of CNHI, if any, in the related CNHI Parts and Wholegoods (granted under the related invoice or otherwise) securing the Receivable.

Collateral Security means, with respect to any Receivable, (i) the security interest, if any, granted by or on behalf of the related Dealer with respect thereto, including a security interest in the related Products, Accounts Receivable or assets, (ii) all other security interests or liens and property subject thereto from time to time purporting to secure payment of such Receivable, whether pursuant to the agreement giving rise to such Receivable or otherwise, together with all financing statements filed against a Dealer describing any collateral securing such Receivable, (iii) all guarantees, insurance and other agreements (including Floorplan Agreements and subordination agreements with other lenders) or arrangements of whatever character from time to time supporting or securing payment of such Receivable whether pursuant to the agreement giving rise to such Receivable or otherwise, and (iv) all Records in respect of such Receivable.

Collateral Security means in respect of a Mortgage Loan: