Security Termination Date definition

Security Termination Date means the date, if any, that the Security Agreement is terminated in accordance with Section 10.02(c)(ii).

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Security Termination Date means the earlier of (i) the date on which all of the Secured Obligations shall have been paid in full; and (ii) the date all of the Secured Creditors agree in writing to the termination of this Agreement.

Security Termination Date means the date on which all Commitments have terminated or expired and all Obligations (other than Obligations under any Qualifying Derivative Contract and indemnity obligations and similar obligations that survive the termination of the Loan Documents) have been paid in full in cash and no Letter of Credit shall be outstanding (other than obligations with respect to which other arrangements satisfactory to the Issuing Lender and the Company have been made).

Examples of Security Termination Date in a sentence

• On the Security Termination Date, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Grantor.

• Notwithstanding anything contained herein to the contrary, the aggregate amount of obligations of the Borrower and its Subsidiaries secured by Liens permitted by any of clauses (c), (d), (e), (g) (to the extent extending, renewing or replacing any of the Liens permitted by any of clauses (c), (d) and (e)) and (h) shall not exceed 15% of Consolidated Tangible Net Worth at any time on or after the Security Termination Date.

• On the Security Termination Date, the security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Borrower.

• This Agreement shall create a continuing assignment of and security interest in the Collateral and shall (i) remain in full force and effect until the payment in full in cash of the Obligations and all other amounts payable under this Agreement (such date, the "Security Termination Date"), (ii) be binding upon Grantor, and Grantor's successors and assigns and (iii) inure to the benefit of, and be enforceable by, Agent, The Lenders, and each of their respective successors, transferees and assigns.

• If no Event of Default exists as of the Performance Security Termination Date, the Performance Security shall be returned to Rail Company within thirty (30) days.

More Definitions of Security Termination Date

Security Termination Date means the first date on which each of the following events shall have occurred on or prior to such time: (a) all Obligations due and payable are paid in full in cash (other than indemnities and other contingent obligations not then due and payable and as to which no claim has been made as of the time of determination and Obligations arising under any Derivative Contract with a Lender Derivative Party that have either been novated or with respect to which the applicable Loan Party has provided substitute credit support acceptable to such Lender Derivative Party as acknowledged to Administrative Agent in writing); (b) the Commitments under this Agreement and the other Loan Documents are terminated; and (c) all Letters of Credit have terminated or been fully cash collateralized and no Issuing Lending has any obligation to issue Letters of Credit hereunder.

Security Termination Date means the earliest date on which any of the following shall occur: (i) all Senior Debt Obligations are Fully Satisfied, (ii) all Senior Revolving Credit Obligations, all Senior Note Obligations and all Senior Lease Obligations are Fully Satisfied, or (iii) when each of the Agent (at the direction of all the Lenders), the holders of the Senior Notes and the Senior Lease Creditor agree in writing to the termination of all the General Security Instruments and the Priority Security Instruments and to the release of all General Liens and Priority Liens granted thereto thereunder.

Security Termination Date means the date on which all of the Secured Obligations are fully and indefeasibly satisfied and paid in full and each of the Security Instruments has been terminated or released.

Security Termination Date has the meaning set forth in Section 19 of Exhibits B and C.

Security Termination Date means the date on or prior to which all of the following shall have occurred: (a) the payment in full in cash of the Secured Obligations (other than contingent indemnification obligations of which no Secured Party has knowledge), (b) the termination or expiration of all Letters of Credit (other than Letters of Credit as to which the Issuing Bank has an enforceable cash collateral security in an amount equal to 105% of the Letter of Credit Exposure allocable to such Letters of Credit or as to which other arrangements satisfactory to the Issuing Bank have been made), and the termination of all obligations of the Issuing Bank to issue, and the Lenders to participate in, Letters of Credit, (c) the termination of all Swap Contracts with any Swap Counterparty and the termination of all obligations of Lenders in respect of Swap Contracts (in each case, other than Swap Contracts as to which the applicable Swap Counterparty has advised the Administrative Agent in writing that it has received other collateral satisfactory to it), and (d) the termination or expiration of the Revolving Commitments.

Security Termination Date has the meaning set forth in Section 5 of the Security Agreement.

Security Termination Date means the first date on which each of the following events shall have occurred on or prior to such time: (a) all Obligations due and payable are paid in full in cash (other than indemnities and other contingent obligations not then due and payable and as to which no claim has been made as of the time of determination and Obligations arising under any Derivative Contract with a Lender Derivative Party that have either been novated or with respect to which the applicable Loan Party has provided substitute credit support acceptable to such Lender Derivative Party as acknowledged to Administrative Agent in writing); (b) the Commitments of the Lenders under this Agreement and the other Loan Documents are terminated; and (c) all Letters of Credit have terminated or been fully cash collateralized and no Issuing Lending has any obligation to issue Letters of Credit hereunder.