First Security definition
First Security means First Security Bank, National Association, a national banking association, not in its capacity as Owner Trustee under the Trust Agreement, but in its individual capacity.
First Security shall have the meaning assigned thereto in Subsection 9.1(h) hereof;
First Security. “WE”, “US” and “OUR” means FIRST Security Guard Services Limited and includes its officers, employees, contractors, agents, successors and assignees where appropriate.
Examples of First Security in a sentence
First Security Bank, National Association, a national banking association.
First Security Bank, National Association, a national banking association, not in its individual capacity but solely as Indenture Trustee under the Indenture.
The indemnities contained in this Section 7 extend to First Security only in its individual capacity and shall not be construed as indemnities of the Trust Indenture Estate or the Trust Estate (except to the extent, if any, that First Security has been reimbursed by the Trust Indenture Estate or the Trust Estate for amounts covered by the indemnities contained in this Section 7).
Nothing contained in this Agreement shall impair any right under the Trust Agreement of First Security to resign as Owner Trustee in accordance with the provisions of the Trust Agreement.
Nothing contained herein shall be deemed to preclude any Participant, any Note Holder, First Security, Owner Trustee, WTC or Mortgagee from filing any claim against the Trust Estate in any case commenced against the Trust Estate.
More Definitions of First Security
First Security means (i) the first preferred Liberian mortgage over the Vessel in favour of the First Mortgagee and (ii) the first priority assignment of the earnings, insurance and requisition compensation relating to the Vessel in favour of the First Mortgagee. “Intercreditor Deed” means the intercreditor deed between the First Mortgagee and the Builder under which the Post Delivery Instalment shall rank behind the claims of the First Mortgagee under the First Loan entered into or to be entered into between (inter alia) the First Mortgagee and the Buyer providing (inter alia) for the First Security. “Letter of Guarantee” has the meaning given in Clause 3.2. “Mortgage” has the meaning given in Clause 3.3. “Post Delivery Instalment” has the meaning given in Clause 2.1. “Post Delivery Instalment Due Date” has the meaning given in Clause 2.3. “Promissory Note” has the meaning given in Clause 3.1. “Second Security” means the Mortgage, the Assignment and the Time Charter Assignment. “Tax” means any tax (other than tax on the overall income of the Builder, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). “Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under a Transaction Document except for those imposed in Korea upon the payment of the Post Delivery Instalment. “Time Charterer” means Hyundai Merchant Marine Co., Ltd of Korea. “Time Charter” means the time charter dated 18 October 2007 as amended by addendum no. 1 and addendum no. 2 between the Buyer and the Time Charterer. “Time Charter Assignment” has the meaning given in clause 3.5 “Total Loss” means: (a) actual, constructive, compromised, agreed or arranged total loss of the Vessel; (b) requisition for title or other compulsory acquisition of the Vessel otherwise than by requisition for hire; (c) capture, seizure, arrest, detention, or confiscation of the Vessel by any person, governmental authority or government or by persons acting or purporting to act on behalf of any government or any other person which deprives the Buyer of the use of the Vessel for 90 days or more after that occurrence; and (d) requisition for hire of the Vessel by any government or by persons acting or purporting to act on behalf of any government which deprives the Buyer of the use of the Vessel for a period of 90 days or more. “Transaction Documents” means the Contr...
First Security means First Security Bank, National Association, a national banking association.
First Security as defined in Section 3.1 of the Participation Agreement.
First Security means any Security Interest granted, or purported to be granted, by the Operator (whether before or after the date of this Agreement) in favour of the Financier.
First Security are parties to a Credit Agreement dated as of July 24, 1995, pursuant to which the Lender and First Security agreed to make loans and other financial accommodations available to the Borrower (the "Original Credit Agreement"). The parties hereto and First Security have agreed to terminate the Original Credit Agreement and the Lender has agreed to redocument the credit facilities provided by the Original Credit Agreement in the name of the Lender with the Administrative Agent, First Security and, possibly, other lenders purchasing participations in the loans and other financial accommodations provided by the Lender.
First Security has an authorized capitalization of Ten Million Dollars ($10,000,000), divided only into 2,000,000 shares of common stock, par value Five Dollars ($5.00) per share, of which Six Hundred Thousand (600,000) shares are fully paid and nonassessable and issued and outstanding.
First Security has the meaning set forth in the preamble to this Agreement.