Primary Security definition

Primary Security means the following forms of security:

Primary Security has the meaning contained in Section 3.3(a)(v)(5).

Primary Security shall have the meaning set forth in Section 3(b)(iv).

Examples of Primary Security in a sentence

• This loan should be analyzed the risk and return in the same manner as directly sourced loan.Feature: • More than one bank/financial institution provide this loan under syndication agreement to a same business entity against security.• Syndication loan may be non-funded, revolving funded limit and long term loan in nature.• Primary Security: Pari passu security sharing agreement on the fixed and floating assets (present and future) among the lenders.

• For additional information see Appendix D – Primary Security and Privacy Mandates.

• If the Developer fails to rectify the breach the subject of a notice given under clause 11.2, Council may: call upon the Primary Security, and carry out and complete or make safe the Works.

• The Authorized User must include: • the Data Categorization elements (not actual Data); • the overall risk determination; and • applicable statutory requirements (See Contract Appendix F – Primary Security and Privacy Mandates).

• Release of Primary Security Unless: Council has made or intends to make a demand against any Security provided by the Developer in respect of any of the Works; the Works on account of which that Security was provided have not been Completed; or the Developer is in breach of this document at the relevant time, Council, upon a written request being made by the Developer, must return the Primary Security within ten (10) business days of such a request being made.

More Definitions of Primary Security

Primary Security means any of the following forms of security:

Primary Security means the security (whether in the form of Common Stock or a Common Stock Equivalent) to which the largest percentage of the purchase price for the Combined Securities is allocated for income tax purposes by the Company.

Primary Security means the assets created such as land, building and plant & machinery purchased out of the loan / credit facility availed by the borrower / loanee from KSIIDC. This is directly associated with the project or business of the borrower / loanee and which is mortgaged / hypothecated to KSIIDC to secure the repayment of the loan with interest as evidenced in the loan agreement and other documents executed between the borrower / loanee and KSIIDC.

Primary Security means any of the following forms of security:• Cash meeting the requirements of 18 Del.C. § 912(1);• Securities listed by the Securities Valuation Office meeting the requirements of 18 Del.C. § 912(2), but excluding any synthetic letter of credit, contingent note, credit-linked note or other similar security that operates in a manner similar to a letter of credit, and excluding any securities issued by the ceding insurer or any of its affiliates;• For security held in connection with funds withheld and modified coinsurance reinsurance treaties:• Commercial loans in good standing of CM3 quality and higher;• Policy loans; and • Derivatives acquired in the normal course and used to support and hedge liabilities pertaining to the actual risks in the policies ceded pursuant to the reinsurance treaty.

Primary Security shall have the meaning given to it in Section 8 hereto.

Primary Security. The loan at all times will be secured by Equitable /Registered mortgage of the land and building/flat which has no encumbrances presently and is absolutely clear and marketable against which the loan is to be sanctioned. Such collateral should be acceptable to the bank and shall be maintained in good order till the loan subsists and Bank reserves the right to inspect the property any time before or after disbursement of the loan. Customer shall not create any lien or charge of any other party on the said property until Bank provides a NOC for the same. Utilization or End use of the loan: The amount of the loan shall be utilized strictly for the purpose detailed in the sanction Letter and in the manner prescribed. The construction of the house/flat or the modification/extension proposed by the borrower in the existing house/flat should be strictly according to the plan approved by the Local Authorities/Town Planning and Development authorities. The borrower shall not divert any part of the loan amount towards any wrongful activities or speculative purposes.

Primary Security means the security provided under Clause 5.3 (a) and any further security provided as directed under Clause 5.9 and in each case includes any moneys resulting from the conversion into money of any part of that security which did not originally consist of money;