Existing Collateral definition

Existing Collateral shall have the meaning assigned to such term in the recitals hereto.

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Existing Collateral means any and all letters of credit or trust agreements outstanding as of the date hereof provided by or required to be provided by Creole under the terms of any Existing Reinsurance Agreement in order to secure obligations arising thereunder.

Existing Collateral means any and all of the following forms of security held by the Company or any ACE Affiliate under the terms of any Existing Policy or Existing Insurance Agreement in order to secure any Obligations outstanding as of the date hereof: (i) any and all letters of credit outstanding as of the date hereof provided by or required to be provided by a B&W Entity or a MII Entity; (ii) any and all Cash Collateral provided by or required to be provided by a B&W Entity or a MII Entity; (iii) any securities account pledged by a B&W Entity or a MII Entity pursuant to any Existing Insurance Agreement; or (iv) any other collateral or security previously provided by a B&W Entity or a MII Entity under the terms of any Existing Policy or Existing Insurance Agreement in order to secure any Obligations outstanding as of the date hereof.

Examples of Existing Collateral in a sentence

• Without limiting the generality of the foregoing, this Agreement is not intended to constitute a novation of the Existing Collateral Agreement.

• Except as amended hereby, each of the Existing Collateral Documents shall remain in full force and effect in accordance with their respective terms.

• Each Obligor acknowledges receipt of a copy of the Amended and Restated Credit Agreement and the Loan Documents executed and delivered in connection therewith and acknowledges that each of the Existing Collateral Documents, as amended hereby, remains in full force and effect and hereby is ratified and confirmed.

• All references in the Existing Collateral Documents to the “Credit Agreement” shall be deemed to refer to the Amended and Restated Credit Agreement.

• Notwithstanding anything in any Existing Policy or Existing Insurance Agreement to the contrary, the Parties, each B&W Entity that is a party hereto and each MII Entity that is a party hereto hereby agree that, upon receipt of the Substituted Collateral as set forth in Section 5(a)(i) and 5(b)(i), the Existing Collateral shall be replaced with such Substituted Collateral and, accordingly, shall be released by the Company and the ACE Affiliates.

More Definitions of Existing Collateral

Existing Collateral means the property or assets of the Company or its Subsidiaries that are, or after the Issue Date, are subject to one or more Permitted Liens.

Existing Collateral means Existing Personal Property Collateral and Existing Real Property Collateral.

Existing Collateral means the “Collateral,” as defined in the Original Credit Agreement.

Existing Collateral means the “Collateral” under and as defined in (a) the Existing General Security Agreement and (b) the Existing FCC License Subsidiary Pledge Agreement.

Existing Collateral means the Collateral in which a security interest is created in favor of the Existing Investors under the Existing Security Agreement.

Existing Collateral. “Existing Lender”; “Existing Loan Documents”; “Existing Loans”; and “Existing Obligations” have the meanings given such terms in the recitals hereto.

Existing Collateral means the investments held on behalf of the Lender as collateral investments for Loans of securities as of the date of this Agreement.