Examples of Secured Property in a sentence
Subject always to Condition 12(b)(i) (Enforcement of Security) above and Condition 12(c) (Non-Petition) below, any amount due under the Bonds and not payable or paid when due by the Issuer in accordance with Condition 12(b)(ii) (Issuer Liability Limited) above will nevertheless continue to be regarded as being outstanding for the purposes of making any demand under, or enforcing any Secured Property created by the Issuer pursuant to, any Transaction Document.
If, or to the extent that, after the Security over the Secured Property has been enforced and as fully as practicable realised and the proceeds thereof have been applied in accordance with the Deed of Charge the amounts recovered on realisation of the Secured Property are insufficient to pay or discharge amounts due from the Issuer to the Bondholders in full for any reason, the Issuer will have no liability to pay or otherwise make good any such insufficiency.
The liability of the Issuer to pay any amounts due under the Bonds shall be limited to, and payable solely out of, the amounts received by the Issuer, or the Security Trustee on behalf of the Secured Creditors (as defined in the Deed of Charge), in respect of the Secured Property and applied in accordance with the Deed of Charge.
Only the Security Trustee may enforce the Security over the Secured Property in accordance with, and subject to the terms of, the Deed of Charge.