Security Covenant definition

Security Covenant means the covenant set out at Clause 19.2(e);
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Examples of Security Covenant in a sentence

  • ACM Shanghai disclaims any further interest in the SMC Note or the Security Covenant after the Effective Time.

  • The Security Covenant is in full force and effect in accordance with its terms and has not been amended or modified.

  • No act or omission on the part of SMC or ACM Shanghai has occurred that, alone or with the passage of time, would constitute a default under the Security Covenant.

  • ACM hereby acknowledges and agrees that the assignment, transfer and conveyance of ACM Shanghai's right, title and interest in and to the SMC Note and the Security Covenant pursuant to Section 1 constitute satisfaction and payment all of ACM Shanghai’s payment and other obligations under the Intercompany Note and, accordingly, the Intercompany Note is hereby cancelled, and no longer outstanding, effective immediately.

Related to Security Covenant

  • Security Control means the management, operational, and tech- nical controls used to protect against an unauthorized effort to ad- versely affect the confidentiality, integrity, and availability of an in- formation system or its information. 6 U.S.C. 1501(16)

  • Security Codes are the credentials (such as codes and passwords) that are associated with you and used by us to verify the authenticity of Communications from you. Security Codes are used to access Accounts and to use the Services. The Security Codes include any supplemental or alternative method used to verify the authenticity of Communications that may be offered or presented to you by us from time to time. • “Service(s)” and “Online Banking” are the online banking interface and the banking services described in this Agreement.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Security Code means a sequence of numbers and/or letters or such other codes or procedures, whether generated by a Security Mechanism or otherwise, for use in connection with access to and/or use of the EB Services;

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.