Security Cession means an agreement in terms of which You cede Your rights to the Contract as security for Your obligation to the Security Cessionary. A Contract may not be partially ceded as a Security Cession and must be ceded in its entirety.
Security Cession means the cession in security (assuming the pledge construction), as set out in clause 22.5(2) below.
Security Cession means the cession in securitatem debiti contemplated by this Agreement;
Examples of Security Cession in a sentence
The Security Cession may be cancelled once the Administrator has been notified in writing by the Security Cessionary.
Once received, the Administrator will note the Security Cession and confirm this in writing.
If ceded as a Security Cession the Administrator will require a copy of the Security Cession.
Body Corporate creditors (e.g. loan providers) to these unique borrowers also enjoy the STSMA’s protection due to the Security Cession (whether by Notarial Bond or regular cession in securitatem debiti) given by the Body Corporate.
Once received, the Administrator will note the Security Cession and confirm this to You in writing.
More Definitions of Security Cession
Security Cession means the pledge and cession in securitatem debiti contemplated by this Agreement;
Security Cession means an agreement in terms of which the Investor cedes its rights to the Contract as security for its obligation to the Security Cessionary. For the avoidance of doubt, a Contract may not be partially ceded as a Security Cession and must be ceded in its entirety.
Security Cession means the cession in securitatem debiti granted by the Cedent in favour of the South African Finance Parties pursuant to this Agreement;
Security Cession means the cession in securitatem debiti and pledge contemplated by this Agreement;
Security Cession is an agreement whereby you provide the contract as security for your obligation to the Security Cessionary. For the avoidance of doubt, the Security Cession may only be in full.
Security Cession means the cession in securitatem debiti and pledge contemplated by this Agreement as such obligations or Indebtedness are amended from time to time in terms of clause 15.1.2;
Security Cession means a written agreement executed between the Borrower and the Lender at about the same time as this Agreement, in terms of which the Borrower cedes and pledges its rights, title and interest in and to its bank accounts to the Lender;