Existing Security Interest definition

Existing Security Interest is defined in the first recital.
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Existing Security Interest means any Security Interest created to secure any Existing Indebtedness;
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Existing Security Interest means the security interest of the Collateral Agent for the benefit of the holders of the Secured Notes and each Additional Creditor (as defined in the Existing Intercreditor Agreements) in the Existing Collateral pursuant to the terms of the Existing Collateral Documents.
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Examples of Existing Security Interest in a sentence

  • Key definitions Cash Consideration means the sum of (without double-counting): (i) the nominal amount represented by the relevant Non-Transferable Receipts multiplied by the relevant Cash Price; (ii) an amount equal to the Existing Security Interest Amount (if any); and (iii) an amount equal to the relevant Accrued Interest (if any).

  • This agreement shall not have the effect of a novation with respect to the Existing Security Interest, which shall be deemed to be continuing under this Agreement.

  • Upon Pledgor’s request, Lenders shall promptly redeliver to Pledgor any of the collateral encumbered by the Existing Security Interest in possession of the Lenders and Lenders shall execute and deliver to Pledgor such documents, instruments and discharges reasonably requested by Pledgor as shall be necessary to evidence termination and discharge of the Existing Security Interest.

  • As security for the payment in full of principal, interest and performance under this Note and of all other liabilities and obligations of the Maker to the Payee, Maker hereby grants to the Payee a general security interest in all assets of the Maker and all proceeds arising therefrom and any and all products of such assets, subject only to an Existing Security Interest.

  • FORUM GLOBAL HOLDINGS, LLC FORUM GLOBAL TUBING LLC FORUM GLOBAL TUBING LP FORUM INTERNATIONAL HOLDINGS, INC.

  • Maker represents that it is the sole lawful owner of such assets attributable to it, free and clear of any liens and encumbrances, and has the right and power to pledge, sell, assign and transfer absolute title thereto to the Payee and that no financing statement covering such assets has been filed in any jurisdiction, subject only to an Existing Security Interest.

  • In particular, the Existing Security Interest shall exclusively secure the Swissco Obligations as per the date hereof (in lieu of securing the Secured Obligations (as defined in the Existing Swiss Security Agreement)).

  • Maker agrees that this security interest shall be a first priority security interest, senior and prior in payment to all other indebtedness and obligations of Maker to third parties, subject only to an Existing Security Interest.

  • Except for the Existing Security Interest, the security interest granted hereby and the security interests in certain Collateral as set forth on Schedule D, Debtor is the owner of the Collateral free from all encumbrances and will defend the Collateral against the claims and demands of all persons other than persons holding the liens and security interests described on Schedule D.

  • Existing Letters of Credit means the letters of credit set out in Part 3 (Existing Letters of Credit) of Schedule 5 (Existing Security Interest, Loans, Guarantees and Letters of Credit).


More Definitions of Existing Security Interest

Existing Security Interest means any Security Interest existing at the Completion Date and which will remain outstanding after the Completion Date provided that such Security Interest shall be released to the satisfaction of the Facility Agent (acting reasonably) no later than 180 days after the Completion Date (or such later date as the Facility Agent and Bidco shall agree);
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Existing Security Interest means a Security Interest created in favour Existing Secured Creditors particulars whereof are given in Schedule 7.
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Existing Security Interest means any Financial Security existing on the credits, incomes or rights of the Borrower and the Subsidiary companies as well as the guarantees, downstreams and guarantees granted by those at the Signature Date, as described by Appendix 4 hereafter.
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Existing Security Interest means each Security Interest existing at the date of this Agreement, the details of which are set out in Schedule 8;
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Existing Security Interest shall continue as a security interest hereunder, as amended hereby, and (iii) this Security Agreement is given as a substitution of, and not as a payment of the indebtedness, liabilities and obligations of the Grantor under the Original Security Agreements and neither the execution and delivery of this Security Agreement nor the consummation of any other transaction contemplated hereunder is intended to constitute a novation of the Original Security Agreements or the Existing Security Interest created thereunder.
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Related to Existing Security Interest

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

  • Existing Security Agreement has the meaning assigned to such term in the recitals of this Agreement.

  • 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;

  • Permitted Security Interest means any Security Interest:

  • Prior Security Interest means a valid and enforceable perfected first-priority security interest under the Uniform Commercial Code in the Collateral which is subject only to statutory Liens for taxes not yet due and payable or Purchase Money Security Interests.

  • Permitted Security Interests means (i) any Security Interest for taxes, assessments or governmental charges or levies which relate to obligations not yet due and delinquent, (ii) easements, servitudes, encroachments and other minor imperfections of title which do not, individually or in the aggregate, detract from the value of or impair the use or marketability of any real property, and (iii) undetermined or inchoate Security Interests arising or potentially arising under statutory provisions which have not at the relevant time been filed or registered in accordance with applicable laws or of which written notice has not been given in accordance with applicable laws;

  • Purchase Money Security Interest means Liens upon tangible personal property securing loans to any Loan Party or Subsidiary of a Loan Party or deferred payments by such Loan Party or Subsidiary for the purchase of such tangible personal property.

  • Security Interest means any mortgage, pledge, security interest, encumbrance, charge or other lien (whether arising by contract or by operation of law).

  • Lien means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof).

  • Acceptable Security Interest in any Property means a Lien which (a) exists in favor of the Administrative Agent for the benefit of the Secured Parties, (b) is superior to all Liens or rights of any other Person in the Property encumbered thereby other than Permitted Subject Liens, (c) secures the Obligations, and (d) is perfected and enforceable.

  • First Priority means, with respect to any Lien purported to be created in any Collateral pursuant to any Security Document, that such Lien is the only Lien to which such Collateral is subject, other than any Permitted Lien.

  • Existing Mortgages means the Mortgages executed and delivered in connection with the Existing Credit Agreement.

  • First Priority Obligations means, collectively, (i) the Credit Agreement Secured Obligations, (ii) each Series of Other First-Priority Obligations and (iii) any other First-Priority Hedging Obligations and First-Priority Cash Management Obligations (which shall be deemed to be part of the Series of Other First-Priority Obligations to which they relate to the extent provided in the applicable Other First-Priority Agreement).

  • subordinate voting security means a restricted security that carries a right to vote, if there are securities of another class outstanding that carry a greater right to vote on a per security basis;

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Real Property Security Documents means with respect to the fee interest of any Loan Party in any real property:

  • Security Interests means the security interests in the Collateral created hereby.

  • Liens means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

  • Subsidiary Security Agreement each Security Agreement made by each of the Subsidiary Guarantors (including any security agreement executed and delivered pursuant to subsection 8.17) in favor of the Administrative Agent for the benefit of the Lenders, substantially in the form of Exhibit K hereto, as the same may be amended, supplemented or otherwise modified from time to time.

  • Existing Secured Notes means the 5.750% Senior Secured Notes due 2021 issued by the Issuer and the Existing Secured Notes Issuer.

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • Permitted Liens means, with respect to any Person:

  • First Priority Secured Parties means the First Priority Representative, the First Priority Creditors and any other holders of the First Priority Obligations.

  • Ownership Interest As to any Certificate, any ownership or security interest in such Certificate, including any interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.

  • 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

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