Security Proceeds definition

Security Proceeds means any moneys received by a Mortgagee pursuant to the exercise of any of its rights under the Security Documents in its favour.
View Source
Security Proceeds means all monies due and to become due to the Offshore Collateral Agent for the benefit of the Secured Parties from the Sponsor Party Security and shall include (i) all accounts, contract rights, all rights and benefits whatsoever accruing to it under the Sponsor Party Security; (ii) all payments made or payable to any Sponsor Party in connection with any requisition, confiscation, condemnation, seizure, taking or forfeiture of all or any part of the Security by any Authority; (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Sponsor Party Security; and (iv) all “proceeds” (as defined in the UCC) of the Security;
View Source
Security Proceeds shall be as defined in Section 12.5.
View Source

Examples of Security Proceeds in a sentence

  • Upon any such application of Security Proceeds by Landlord, Tenant shall, within 30 days of written demand therefor, deliver to Landlord an Additional Letter of Credit in the amount of Security Proceeds so applied.

  • If Tenant fails timely to deliver to Landlord a Substitute Letter of Credit, then Landlord shall have the right, at any time thereafter, without giving any notice to Tenant, to draw down the Letter of Credit and to hold the proceeds thereof (“Security Proceeds”) in a bank account in the name of Landlord, which may be withdrawn and applied by Landlord under the same circumstances and for the same purposes as if the Security Proceeds were a Letter of Credit.

  • Landlord shall be entitled to transfer its beneficial interest under the Letter of Credit or any Security Proceeds in connection with (i) Landlord’s sale or transfer of the Building, or (ii) the addition, deletion or modification of any beneficiaries under the Letter of Credit, and the Letter of Credit shall specifically state on its face that it is transferable by Landlord, its successors and assigns.

  • Within 45 days after the expiration of the term, to the extent Landlord has not previously drawn upon any Letter of Credit or Security Proceeds held by Landlord, Landlord shall return the same to Tenant provided that there is not at such time any continuing default of any of Tenant’s obligations under this Lease.

  • To the extent that Landlord has not previously drawn upon any Letter of Credit or Security Proceeds (collectively, the “Collateral”) held by Landlord, and to the extent that Tenant is not otherwise in default of its obligations under this Lease as of the expiration of the Lease Term, Landlord shall return such Collateral to Tenant at the expiration of the Lease Term.

  • Within 45 days after the expiration of the term, to the extent Landlord has not previously drawn upon any Letter of Credit or Security Proceeds held by Landlord, Landlord shall return the same to Tenant, less so much thereof that Landlord reasonably estimates is necessary to compensate Landlord toward the curing of any continuing default of any of Tenant’s obligations under this Lease, specifically including any restoration obligations under Section 6.1.9.

  • If Tenant fails timely to deliver to Landlord a Substitute Letter of Credit, then Landlord shall have the right, at any time thereafter, without giving any notice to Tenant, to draw down the Letter of Credit and to hold the proceeds thereof ("Security Proceeds") in a bank account in the name of Landlord, which may be withdrawn and applied by Landlord under the same circumstances and for the same purposes as if the Security Proceeds were a Letter of Credit.

  • Upon any such application of Security Proceeds by Landlord, Tenant shall, within 30 days of written demand therefor, deliver to Landlord either (a) an Additional Letter of Credit in the amount of Security Proceeds so applied, or (b) a Substitute Letter of Credit in the Letter of Credit Amount (to be exchanged for the Security Proceeds).

  • To the extent that Landlord has not previously drawn upon any Letter of Credit or Security Proceeds (collectively, the “Collateral”) held by Landlord, Landlord shall return such Collateral to Tenant within thirty (3) days after the expiration of the Lease Term.

  • Within 30 days after the expiration of the term, to the extent Landlord has not previously drawn upon any Letter of Credit or Security Proceeds held by Landlord, Landlord shall return the same to Tenant provided that there is not at such time any continuing default of any of Tenant's obligations under this Lease.


More Definitions of Security Proceeds

Security Proceeds means all receipts and recoveries by the Security Agent (or by any of the Obligors or any other person on its behalf and paid over to the Security Agent) pursuant to, or upon enforcement of any of the Security Rights and all other monies received or recovered by the Security Agent which are by the terms hereof or of any of the other Finance Documents to be applied in accordance with this Agreement.
View Source
Security Proceeds has the meaning provided in Section 12.08.
View Source
Security Proceeds means all receipts or recoveries by the Agent (or by any of the Finance Parties or by the Permitted Facilities Provider) pursuant to, or upon enforcement of, the Security and all other monies which are by the terms of any of the Finance Documents to be applied in accordance with Clause 30.7 (Application of Security Proceeds), after deducting (to the extent not already deducted or retained prior to such receipt or recovery by the Agent or, as the case may be, any other Security Party):
View Source
Security Proceeds means any and all amounts received by the Security Trustee in respect of the enforcement or exercise of any claim, right or remedy in respect of or in connection with the Collateral and all other amounts received by the Security Trustee in respect of the enforcement or exercise of any claim, right or remedy in respect of or in connection with the Collateral, including, but not limited to, (a) any proceeds from the disposition of all or part of the Assigned Aircraft Purchase Agreement or the Aircraft after taking delivery thereof, whether received in one lump sum or over a period of time (including, without limitation, under any lease entered into by the Security Trustee pursuant to the foregoing) and (b) the proceeds of any action, judgment or enforcement action collected by the Security Trustee under the Security Documents (including, without limitation, any proceeds received from the Aircraft Manufacturer under the Assigned Aircraft Purchase Agreement).
View Source

Related to Security Proceeds

  • Equity Proceeds means the Net Proceeds received by the Parent or Holdings from contributions to its common equity or from the issuance and sale of its common Equity Interests or Non-Cash Pay Preferred Stock.

  • Security Property means all right, title and interest in, to and under any Security Document, including:

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Enforcement Proceeds means the gross proceeds from the realisation of Vehicles in respect of Purchased Receivables and from the enforcement of any other Ancillary Rights.