Security Cession definition

Security Cession means the cession in securitatem debiti contemplated by this Agreement;

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Security Cession means the cession in security (assuming the pledge construction), as set out in clause 22.5(2) below.

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.

Examples of Security Cession in a sentence

• We refer to the Security Cession (a copy of which is attached for your records).

• We confirm receipt of your letter and hereby undertake that upon receipt of written notification from the Debt Guarantor of the enforcement of its rights under the Security Cession, we shall henceforth pay any and all amounts which would otherwise have been payable to you under the Policy, to the Debt Guarantor.

• This Security Cession therefore secures the indebtedness of the Cedent to each of the South African Finance Parties independently and for 100% (one hundred percent) thereof.

• The South African Finance Parties have appointed the South African Facility Agent to act on their behalf for the purpose of all acts incidental to this Agreement, including, without limitation, the acceptance of the benefits of the Security Cession.

• Unless otherwise defined herein, terms and expressions defined in the Security Cession have the same meaning where used in this letter.

More Definitions of Security Cession

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 written agreement entitled "Security Cession", dated on or about 2 October 2024, executed by the Issuer in favour of the Secured Noteholders, as amended, novated and/or substituted from time to time in accordance with its terms;

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;

Security Cession means the written agreement entitled "Security Cession" entered into by the Applicable Issuer and the Enforcement Agent, and executed by the Applicable Issuer, in favour of the Secured Noteholders, as amended, novated and/or substituted from time to time in accordance with its terms;

Security Cession means the cession in securitatem debiti and pledge contemplated by this Agreement; 2.2.22 “Signature Date” means the date of the signature of the Party last signing this Agreement in time; 2.2.23 “Utilisation Date” shall bear the meaning defined in the Facility Agreement.

Security Cession means the reversionary cession in securitatem debiti and pledge contemplated by this Agreement;

Security Cession means: 2.2.82.1 a cession and pledge in security by the Borrower in favour of the Finance Parties on a joint and several basis of the Subsidiaries’ Shares, the Borrower’s right, title and interests in and to the Subsidiaries’ Loans and the Borrower’s right, title and interest in and to the Deposit Account and all monies or amounts then or at any time hereafter standing to the credit of the Deposit Account and all rights relating or attaching thereto, including the right to interest; and 2.2.82.2 a cession and pledge in security by ARMgold in favour of the Finance Parties on a joint and several basis, of ARMgold’s Shares in and claims against ARMgold/Harmony Joint Investment Company (Proprietary) Limited and ARMgold/Harmony Freegold Joint Venture Company (Proprietary) Limited;