Secondary Collateral definition

Secondary Collateral means all property (whether real or personal) with respect to which any security interests have been granted (or purported to be granted) pursuant to any Secondary Security Document, including, without limitation, all Secondary Pledge Agreement Collateral, all Secondary Earnings and Insurance Collateral, all Secondary Collateral Vessels and all cash and Cash Equivalents at any time delivered as collateral thereunder or under the Other Credit Agreement.

Secondary Collateral means all Collateral other than ABL Primary Collateral.

Secondary Collateral shall have the meaning set forth in Section 4.02(c) herein. "Special Conditions" shall mean those conditions, if any, set forth in Section 13 of the Loan Authorization Agreement.

Examples of Secondary Collateral in a sentence

• Notwithstanding the foregoing, if any Lien on any Secondary Collateral or any Guarantor Collateral is not intended to be a first priority Lien, all references herein to a first priority Lien with respect to such Secondary Collateral or Guarantor Collateral shall be to a Lien in the priority set forth in Sections 6.E. and F.

• Each Collateral Vessel is (i) or will be, classified in the highest class available for Vessels of its age and type with a classification society listed on Schedule X hereto or another internationally recognized classification society acceptable to the Collateral Agent, free of any conditions or recommendations, other than as permitted, or will be permitted, under the Collateral Vessel Mortgage or the Secondary Collateral Vessel Mortgage, as applicable, and (ii) flagged in an Acceptable Flag Jurisdiction.

• In addition to the requirements of the immediately preceding sentence, the Parent will at all times cause the Required Insurance to (x) be maintained on the Collateral Vessels (with the same scope of coverage as that described in Schedule VI) at levels which are at least as great as the respective amount described on Schedule VI and (y) comply with the insurance requirements of the Collateral Vessel Mortgages and the Secondary Collateral Vessel Mortgages, as applicable.

• If the recipient refuses to restrict the property use to affordable housing; or fails to meet the terms in the grant agreement, Ecology will use its lien authority (Section 5.3) to recover costs incurred and will require repayment of the funds with interest.

• Secondary Collateral: Any other assets of Borrower in which Lender is receiving a Lien to secure any other financial accommodations provided by Lender to such Borrower.

More Definitions of Secondary Collateral

Secondary Collateral is fully defeased in accordance with the terms thereof or is also secured by cash or Cash Equivalents in an amount (determined at the lesser of (i) carrying value in accordance with GAAP or (ii) fair market value) at least equal to the outstanding principal amount of such Secured Debt, such Secondary Collateral shall be deemed not to secure any portion of such Secured Debt for purposes of this definition.

Secondary Collateral means all of the following property and interests in property of the Revolving Loan Parties, whether now owned or existing, or hereafter created, acquired or arising and wherever located:

Secondary Collateral means (i) all goods, inventory, equipment, fixtures, furniture, use permits, liquor licenses, improvements and other personal property of Grantor, presently, or which may hereafter be, situated in or on the Premises (as such term is defined in that certain Lease Agreement by and between Grantor and Ramparts, Inc. dated as of March 23, 2017) (the “Lease Agreement”), (ii) all tangible personal property of Grantor which is now or may hereafter serve and be located in the Premises, and (iii) all proceeds therefrom. Notwithstanding the foregoing, the following shall be excluded from the Secondary Collateral (but included in the Primary Collateral): any name, copyright, trademark or other intellectual property of Grantor and equipment such as copiers, computers and point-of-sale systems with a value of not more than $10,000 that are customarily leased or financed). “Primary Collateral” means all Collateral that is not Secondary Collateral.

Secondary Collateral means “Second Lien Collateral” as defined in the Intercreditor Agreement.

Secondary Collateral means all Collateral other than the Export-Related Collateral.

Secondary Collateral means, collectively, that portion of the Collateral, now existing or hereafter acquired by the Company or any Guarantor, consisting of ABL Priority Collateral, as such term is defined in the Intercreditor Agreement.

Secondary Collateral has the meaning specified in Section 9.01(B).