Global Lien definition
Examples of Global Lien in a sentence
Any appointment by the Borrower or the Controlling Class shall be effective upon the making of such appointment, the assignment of the Global Lien to the successor Secured Parties Representative and the acceptance of such appointment and assignment by such successor Secured Parties Representative.
The predecessor Secured Parties Representative shall assign and transfer, or cause to be assigned and transferred, and shall deliver or cause to be delivered to the successor Secured Parties Representative, the Global Lien and all property, including all moneys, instruments and securities, of the Borrower then held by the predecessor Secured Parties Representative, if any.
Upon the occurrence of a default that is continuing, all such powers, rights, and remedies of Pledgor, which are conditionally permitted pursuant to Section 2.1, shall cease and the provisions of Section 4 hereof shall apply, subject to the priority rights of YA Global under the Priority YA Global Lien.
Except pursuant to the Priority YA Global Lien and other liens of record as of the date hereof and except for the transfer affected by this Agreement and the Forbearance Agreement, Pledgor will not transfer the Collateral, or any portion thereof, or suffer or permit any transfer thereof to occur.
Subject to the rights of YA Global pursuant to the Priority YA Global Lien, Pledgor authorizes Secured Party to perform any and all acts that Secured Party in good f▇▇▇▇ ▇▇▇▇▇ necessary for protection and preservation of the Collateral or its value, or Secured Party’s security interest therein, including but not limited to, immediately transferring upon request by Secured Party any Collateral into Secured Party’s own name.
The predecessor Secured Parties Representative shall assign and transfer, or cause to be assigned and transferred, and shall deliver or cause to be delivered to the successor Secured Parties Representative, the Global Lien and all property, including all moneys, instruments and securities, of the Borrower and each Investment Holding Subsidiary then held by the predecessor Secured Parties Representative, if any.
Title to the Collateral is subject to the Priority YA Global Lien and other liens and encumbrances of record for unpaid taxes, assessments and judgments.
The Trustee, strictly on the basis of Holder consent, authorization and direction, as evidenced by the Required Consents, shall execute, deliver or acknowledge any reasonably necessary or proper instruments of termination, satisfaction or release prepared by the Company to effect the foregoing, including the letter re Global Lien Release in the form attached hereto as Exhibit A.