Permitted Security Interest definition
Permitted Security Interest means any Security Interest:
Permitted Security Interest means: (A) any Security Interest arising by operation of law; (B) any Security Interest securing temporary bank loans or overdrafts in the ordinary course of business; (C) any other Security Interest (in addition to (A) and (B) above) securing Financial Indebtedness of the Issuer, in an aggregate outstanding amount not exceeding 80% of the difference between the value of the unencumbered assets of the Issuer and the aggregate principal amount of Bonds outstanding at the time.
Permitted Security Interest means:
Examples of Permitted Security Interest in a sentence
In such case, the Borrower shall, upon the enforcement of such Permitted Security Interest, grant to the Lender relating to such Individual Loan: Accrued interest and liquidation proceeds (if any) on individual loans that are extinguished by the enforcement of permitted security interests shall be paid.
More Definitions of Permitted Security Interest
Permitted Security Interest means, for the purposes of this Condition 6 (Negative Pledge):
Permitted Security Interest means the pledge and assignment by Party B of the Swap Collateral to the Indenture Trustee pursuant to the Indenture, and the granting to the Indenture Trustee of a security interest in the Swap Collateral pursuant to the Indenture.
Permitted Security Interest means any Security Interest created or outstanding upon any property or assets (including current and/or future revenues, accounts receivables and other payments) of the Issuer or any Subsidiary arising out of any securitisation of such property or assets or other similar asset backed finance transaction in relation to such property or assets where:
Permitted Security Interest means (i) any Security Interest over any assets (or related documents of title) purchased by the Issuer, the Guarantor or any Material Subsidiary as security for all or part of the purchase price of such assets and any substitute Security Interest created on those assets in connection with the refinancing (together with interest, fees and other charges attributable to such refinancing) of the indebtedness secured on those assets; and (ii) any Security Interest over any assets (or related documents of title) purchased by the Issuer, the Guarantor or any Material Subsidiary subject to such Security Interest and any substitute Security Interest created on those assets in connection with the refinancing (together with interest, fees and other charges attributable to such refinancing) of the indebtedness secured on those assets;
Permitted Security Interest means a Security Interest granted by the Issuer or any of its Material Subsidiaries to secure any Relevant Indebtedness, where such Relevant Indebtedness is incurred for the purpose of, and the proceeds thereof are used in, (i) the purchase of an asset and such security is provided over or in respect of such asset or (ii) the refinancing of any indebtedness incurred for the purpose of (i) above, provided that the security is provided over or in respect of the same asset.
Permitted Security Interest means any Security Interest securing any Relevant Debt issued for the purpose of financing of all or part of the costs of the acquisition, construction or development of any project if the person or persons providing such financing expressly agree to limit their recourse to the project financed and the revenues derived from such project as the sole source of repayment for such Relevant Debt.
Permitted Security Interest means any Security Interest created upon any part of the undertaking, assets or revenues, present or future of the Issuer to secure any Relevant Indebtedness in connection with and in compliance with any Covered Bond Legislation or where creditors thereof have recourse only to a defined pool of underlying assets or revenues of the Issuer intended to form any part of the assets or revenues in respect of which a priority claim in favour of covered bondholders may be given.