Membership Interest Collateral definition

Membership Interest Collateral has the meaning specified in Section 2.01(b).
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Membership Interest Collateral means (i) the Pledged Membership Interests, all certificates, if any, from time to time representing such Pledged Membership Interests, any contracts and instruments pursuant to which any such Pledged Membership Interests are created or issued and all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Membership Interest after the Closing Date; and (ii) all additional membership interests in any Issuer Subsidiary (including any Asset Subsidiary or other Issuer Group Subsidiary the ownership of which is represented by membership interests) from time to time acquired by each Grantor in any manner, all certificates and/or instruments, if any, from time to time representing such additional membership interests, and all warrants, options and other rights to acquire membership interests and all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all such additional membership interests.
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Membership Interest Collateral or “Stock Collateral.” Section 3.06
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Examples of Membership Interest Collateral in a sentence

  • Only upon the satisfaction by the Debtor of its obligations under the RPM Note shall the Security Interest become a valid security interest (and it shall become a first priority security interest) in and to and a lien upon and a right of set-off against all of the Debtor’s right, title and interest of whatsoever kind and nature in and to, the Ichor Membership Interest Collateral.

  • The Security Interest shall be a first priority security interest in and to, and a lien upon and a right of set-off against all of Debtor’s right, title and interest of whatsoever kind and nature in and to, the Elysium Membership Interest Collateral.

  • Notwithstanding any other provisions of this Indenture, neither the Trustee nor any of the Holders or any other party to this Indenture shall have any right to foreclose upon or otherwise disturb the Membership Interest Collateral so long as any of the Series 2002-1 Notes are outstanding.

  • Neither Pledgee nor its agents shall be liable for failure to demand, collect or realize upon any of the Membership Interest Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Membership Interest Collateral upon the request of Pledgor or any other person or to take any other action whatsoever with regard to the Membership Interest Collateral or any part thereof.

  • To the extent permitted under the Uniform Commercial Code as in effect in the State of Michigan from time to time (the “Code”) and the provisions of this Agreement, Pledgee shall have no duty with respect to the Membership Interest Collateral.

  • Here, as permitted by the UCC, Spara and BFG set forth the standards for reasonable care of the Lexington Membership Interest Collateral in the Spara Pledge Agreement.

  • If an Event of Default has occurred and is continuing, Pledgor shall not be entitled to receive or retain any dividends or distributions paid in respect of the Membership Interest Collateral, and any and all such dividends or distributions shall be forthwith delivered to the Pledgee to hold as collateral and shall, if received by Pledgor, be received in trust for delivery to the Pledgee, and be segregated from the other property or accounts of Pledgor until delivered to the Pledgee.

  • The Security Trustee shall have the right, at any time in its discretion and without notice to any Grantor, to transfer to or to register in the name of the Security Trustee or any of its nominees any or all of the Pledged Shares, Pledged Beneficial Interests and Membership Interest Collateral (if any), subject only to the revocable rights specified in Section 2.12(a).

  • Without limiting the generality of the foregoing, Pledgee shall be under no obligation to take any steps necessary to preserve rights in the Membership Interest Collateral against any other parties or to exercise any rights represented thereby; provided, however, that Pledgee may, at his option, do so, and any and all expenses incurred in connection therewith shall be for Pledgor’s sole account.

  • On February 4, 2013, BFG filed its Motion For Modification Of The Automatic Stay And For Adequate Protection [Related Case No. 12-13263, Docket No. 33] (the “ Spara Stay Motion”) to, among other things, exercise its rights and remedies with respect to the Lexington Membership Interest Collateral (as defined below).


More Definitions of Membership Interest Collateral

Membership Interest Collateral means (i) the Pledged Membership Interests, all certificates, if any, from time to time representing such Pledged Membership Interests, any contracts and instruments pursuant to which any such Pledged Membership Interests are created or issued and all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Membership Interest after the Closing Date; and (ii) all additional membership interests in any Issuer Subsidiary (including any Engine Subsidiary or Leasing Subsidiary the ownership of which is represented by membership interests) from time to time acquired by each Grantor in any manner, all certificates and/or instruments, if any, from time to time representing such additional membership interests, and all warrants, options and other rights to acquire membership interests and all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all such additional membership interests.
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Membership Interest Collateral shall have the meaning set forth in Section 8.15(h).
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Membership Interest Collateral means the Pledged Membership Interests, all certificates, if any, from time to time representing any of such Grantor's right, title and interest in the Pledged Membership Interests, any contracts and instruments pursuant to which any such Pledged Membership Interests are created or issued and all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Membership Interests; and all of such Grantor's right, title and interest in all additional membership interests from time to time acquired by such Grantor in any manner, all certificates, if any, from time to time representing such additional membership interests and all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all such additional membership interests, and all proceeds of any and all of the foregoing.
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Membership Interest Collateral shall have the meaning specified in the Granting Clause of this Indenture.
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Related to Membership Interest Collateral

  • Stock Collateral means, collectively, the Collateral described in clauses (a) through (c) of Section 3 hereof and the proceeds of and to any such property and, to the extent related to any such property or such proceeds, all books, correspondence, credit files, records, invoices and other papers.

  • Pledged Collateral has the meaning assigned to such term in Section 2.01.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Membership Interests has the meaning set forth in the recitals.

  • 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;

  • Pledged Investment Property means any investment property of any Grantor, and any distribution of property made on, in respect of or in exchange for the foregoing from time to time, other than any Pledged Stock or Pledged Debt Instruments.

  • Account Collateral means, with respect to each Account, such Account, together with all cash, securities, Financial Assets and investments and other property from time to time deposited or credited to such Account and all proceeds thereof, including, with respect to the Reserve Fund, the Reserve Fund Deposit and the Reserve Fund Amount.

  • Swap Collateral Account means a single, segregated trust account in the name of the Indenture Trustee, which shall be designated as the “Swap Collateral Account” which shall be held in trust for the benefit of the Noteholders established pursuant to Section 4.10(e) of the Sale and Servicing Agreement.]

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Intercompany Interest means an Interest in a Debtor held by another Debtor.

  • Permitted Security Interest means any Security Interest:

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].