Facility Security definition
Examples of Facility Security in a sentence
Investigations for Seller employees requiring access to classified information must be initiated by the Contractor Facility Security Officer (FSO).
A Facility Security Clearance (FSC) or Personnel Security Clearance (PSC) is not required.
The Borrower shall, at its own expense, promptly take all such action as the Facility Agent may reasonably require for the purpose of perfecting or protecting any Facility Beneficiary’s rights with respect to the security created or evidenced (or intended to be created or evidenced) by the Facility Security Documents.
Each of the other Facility Beneficiaries agrees that the obligations, rights and benefits vested in the Facility Security Trustee shall be performed and exercised in accordance with this clause 15.
The undertakings and covenants in this clause 12 remain in force for the duration of the Facility Security Period.
The execution of the Facility Documents by the Security Parties and their exercise of their rights and performance of their obligations thereunder will not result in the existence of nor oblige the Borrower to create any Security Interest (other than a Permitted Security Interest) over all or any of their present or future revenues or assets, other than pursuant to the Facility Security Documents.
The Contractor Facility Security Officer (FSO) will ensure there is a procedure for all terminated employees to out process the installation.
The Collateral Agent acknowledges with respect to the Credit Agreement and the Revolving Facility Security Documents, and the Trustee and the Noteholder Collateral Agent acknowledge with respect to the Indenture and the Noteholder Security Documents, that the Credit Agreement, the Indenture and each Security Document will contain the appropriate legend set forth on Annex I.
You are requested to bring this letter to the attention of your Facility Security Officer appointed for the performance of this contract, that they are fully understood and they can and will be respected so to safeguard the information and material concerned.
Each of the Security Parties is the legal and beneficial owner of all assets and other property which it purports to charge, mortgage, pledge, assign or otherwise secure pursuant to each Facility Security Document and those Facility Security Documents to which it is a party create and give rise to valid and effective security having the ranking expressed in those Facility Security Documents.