Security Trust definition
Security Trust has the meaning it has in the Security Trust Deed.
Security Trust means the trust established under clause 2.2 of this Deed.
Security Trust means a trust account established with a Trustee for the purpose of securing the Reinsurer’s obligations to the Company in accordance with Article IX hereof.
Examples of Security Trust in a sentence
It is hereby acknowledged that the Security Trustee is a party to these Loan Transaction Terms solely for the better preservation and enforcement of its rights under the Security Trust Deed and the Loan Facility Agreement Standard Terms, and has no liabilities or obligations hereunder.
More Definitions of Security Trust
Security Trust means the trust established under the Security Trust Deed.
Security Trust shall have the meaning provided in Section 13.25(z)(i).
Security Trust means each of the trusts, one for each Underlying Security, constituted under the Instalment Receipts Deed.
Security Trust shall have the meaning set forth in Sections 4.6 and 10.3(d).
Security Trust. Deed shall mean the Security Trust Deed dated 11 May 2003 executed and delivered by Koppers Australia Pty Ltd. to the Administrative Agent for the benefit of the Lenders. Shares shall have the meaning assigned to that term in Section 6.1.2. Solvent shall mean, with respect to any Person on a particular date, that on such date (i) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (ii) the present fair saleable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (iii) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business, (iv) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature, and (v) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged. In computing the amount of contingent liabilities at any time, it is intended that such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. Standard & Poor’s shall mean Standard & Poor’s Ratings Services, a division of The ▇▇▇▇▇▇-▇▇▇▇ Companies, Inc. Standby Letter of Credit shall mean a Letter of Credit issued to support obligations of one or more of the Loan Parties, contingent or otherwise, which finance the working capital and business needs of the Loan Parties incurred in the ordinary course of business, but excluding any Letter of Credit under which the stated amount of such Letter of Credit increases automatically over time. Subsidiary of any Person at any time shall mean (i) any corporation or trust of which more than 50% (by number of shares or number of votes) of the outstanding capital stock or shares of beneficial interest normally entitled to vote for the election of one or more directors or trustees (regardless of any contingency which...
Security Trust means the trust established under clause [ ]2.2 of this Deed.
Security Trust. The Grantor Trust created by this Trust Agreement, the corpus of which consists of (i) each Mortgage Security and all proceeds thereof and (ii) the Grantor Trust Account and all amounts held therein or credited thereto.