Metals Collateral definition

Metals Collateral means all Platinum and Platinum content in which any Borrower has any right, title or interest, in whatever form (whether constituting Equipment or otherwise and whether in the form of raw material, alloy, finished goods, or otherwise and including Platinum used in or affixed to Equipment), whether now existing or hereafter arising or acquired, and whether owned by, consigned to, leased to or otherwise held by or for the account or benefit of any of the Borrowers, regardless of whether any of such Metals Collateral is physically held by Borrower Parties, any one of them, or any of their subsidiaries or any other person or entity, and all proceeds of all of the foregoing, including insurance proceeds.
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Metals Collateral means all right, title and interest in and to all Consigned Bullion and all proceeds of Consigned Bullion, including the accounts owing by any account debtor, any insurance proceeds, and any related general intangibles and payment intangibles (in each case as such term is defined in the UCC) in each case arising from any sale of Consigned Bullion.
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Metals Collateral means, without duplication:
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Examples of Metals Collateral in a sentence

  • Each of the Agents agrees that if it shall receive any of the Metals Collateral in violation of this Agreement, it shall hold such Metals Collateral in trust for the benefit of the Metals Bank in accordance with this Agreement and, promptly upon discovery or notice of such violation, turn it over to the Metals Bank in accordance with this Agreement.

  • Each Creditor Representative agrees that it will not contest the validity, perfection, priority or enforceability of the Liens upon the Metals Collateral in favor of the other Creditor Representatives and agrees that as between the Creditors, the terms of this Agreement shall govern even if part or all of the Metals Obligations or the Liens securing payment and performance thereof are avoided, disallowed, set aside or otherwise invalidated in any judicial proceeding or otherwise.

  • Any settlement or compromise of a condemnation or insurance claim which covers or relates in whole or in part to Metals Collateral shall include a specific dollar allocation for the Metals Collateral portion of such compromise or settlement.

  • Upon an Acceleration/Insolvency Event, subject to Section 6(c) below, the proceeds of the Metals Collateral shall be applied first, so long as any Consignment Obligations shall be outstanding, to the payment of the Consignment Obligations, and second, to the extent of any excess of such proceeds, to the payment of the Credit Obligations in accordance with the Credit Documents.

  • Counterparty agrees that, from time to time at its own expense, Counterparty will promptly execute and deliver all further instruments and documents, and take all further action, that may be necessary or desirable, or that BMO may reasonably request, in order to perfect, preserve and protect any of its ownership of the Consigned Bullion or security interest in the Metals Collateral.

  • Notwithstanding anything in this Intercreditor Agreement to the contrary, this Intercreditor Agreement shall not restrict or otherwise limit the Agent in any manner whatsoever (including, without limitation, any of its rights, interests or remedies or ability to release or otherwise dispose of the Collateral) with respect to any Collateral (other than, for so long as the Consignment Obligations are outstanding, the Metals Collateral).

  • The Consignor shall provide the Agent with not less than ten (10) Business Days' prior written notice following an Acceleration Notice of the procedures which will be used for Liquidation of the Metals Collateral and will attempt in good faith to resolve any disputes with the Agent over such procedures.

  • As of the Cut-off Date, no Metals Collateral has been repossessed by or at the direction of CFC or any other Person.

  • Subject to the Trustee’s duties and rights and the Servicer’s obligations under the Servicing Agreement, in the event of a default by an Obligor under a Loan Agreement, CFC, as Servicer, will take all reasonable steps to enforce the related Loan Agreement and preserve and maintain title to the Metals Collateral and the rights of the Trustee and the Noteholders against the claims of all persons and parties.

  • Counterparty shall not grant any person a Lien on any (i) Metals Collateral or (ii) Bullion, precious or semi-precious metal or metal products owned by Counterparty from time to time in connection with any other consignment, lease or any similar arrangement that is not subject to the Metals Intercreditor or the Metals/Dollar Intercreditor.