FMO Security definition
Examples of FMO Security in a sentence
If the purpose of the Capital Call is to acquire an FMO Security and Claim other than FMO Debt, 1989 may and Chelonian will contribute its share of such Capital Call to the capital of the Company on or before thirty (30) days after receipt of such notice from the Manager.
The Borrower shall, and the Borrower shall ensure that each member of the Group will, ensure that all FMO Security is fully created and perfected in accordance with any applicable laws and regulations and that each FMO Security Document has been duly executed.
The Borrower shall, and the Borrower shall ensure that each member of the Group will, ensure that all FMO Security (save the Corporate Guarantee) created or expressed to be created or evidenced by the FMO Security Documents has or will have first ranking priority and that such FMO Security is not subject to any prior ranking or pari passu ranking Security.
All proceeds of any kind or character whatsoever received by the Company from FMO with respect to or in exchange for an FMO Security and Claim; provided, however, if any of the proceeds received by the Company (i) are not cash or cash equivalents and (ii) would otherwise constitute FMO Securities and Claims, those proceeds which meet the foregoing (i) and (ii) shall not be distributed pursuant to this Section 10.1.2.