Security Agreement definition
Examples of Security Agreement in a sentence
For the avoidance of doubt, all Railcars that replace Portfolio Railcars subject to a Permitted Discretionary Sale pursuant to a Permitted Discretionary Acquisition shall be Qualifying Replacement Railcars in order to be Portfolio Railcars, and upon acquisition, such Replacement Railcars (and any related Leases) will become subject to the Lien of the Security Agreement (and related Loan Documents).
The Administrative Agent shall have received evidence satisfactory to it in its reasonable discretion from the official records of the STB and the Registrar General of Canada (and a legal opinion in form and substance reasonably acceptable to the Administrative Agent or its counsel) that the Security Agreement (or a memorandum thereof) has been registered, recorded or filed for recordation in accordance with Applicable Law or will be registered, recorded or filed as soon as practicable following closing.
Each of the Administrative Agent, the Depositary and the Collateral Agent shall have the same rights, protections, indemnities, and immunities hereunder as are afforded to the Collateral Agent under the Security Agreement.
Upon acquisition, such Replacement Railcars (and any related Leases) will become subject to the lien of the Security Agreement (and related Loan Documents).