Springing Collateral definition

Springing Collateral means the Pledged Equity and the Initial Excluded Collateral.

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Springing Collateral means the Springing ALB Collateral and the Springing Olinda Collateral. “Springing Guarantee Deadline” means (i) with respect to each ALB Entity, the 30th day following the date when all principal and interest due by such Springing AssetCo Grantor under each of the Restructured ALB Loans, the Priority Lien Debt and the Junior Priority Capex Debt, including, in each case, any permitted Refinancing thereof, have been indefeasibly paid in full in immediately available funds and no commitments remain outstanding thereunder and (ii) with respect to ▇▇▇▇▇▇ ▇▇▇▇, the 5th Business Day following the Olinda Star Guarantee Date. With respect to clause (i), if a refinancing or restructuring of the then-existing Restructured ALB Loans, Priority Lien Debt or Junior Priority Capex Debt is entered into prior to the 30th day following the payment in full of such credit facility, (A) the Company shall notify in writing the Collateral Trustee, Bradesco and the Holders of such refinancing or restructuring and (B) the “Springing Guarantee Deadline” shall be the 30th day following the payment in full of such refinancing or restructuring.

Springing Collateral means any assets other than Initial Collateral and Additional Collateral of the Company or any of its Restricted Subsidiaries that are affirmatively pledged pursuant to the Credit Agreement as collateral for Indebtedness of the Company or a Subsidiary Guarantor incurred under the Credit Agreement pursuant to Section 4.03(a)(1).

Examples of Springing Collateral in a sentence

• Upon presentation to the Controlling Party of a Purchase of JV Interests Certificate (as hereinafter defined) executed by the Guarantor, the Controlling Party shall instruct Trustee to, and Trustee shall, disburse the applicable portion of the proceeds in the JV Springing Collateral Account (as specified in such Purchase of JV Interests Certificate) to the Controlling Party solely for the purpose of purchasing the JV Interests specified in such Purchase of JV Interests Certificate.

• On or before the applicable Springing Security Deadline for a Springing AssetCo Grantor, the Company and such Springing AssetCo Grantor shall cause the Collateral Trustee (for the benefit of the Trustee, the Holders and any other applicable Secured Party) to have valid and perfected Liens on the Springing Collateral, subject to Permitted Liens.

• Monies in the JV Springing Collateral Account shall be invested in Permitted Investments by Trustee pursuant to Section 3.11 hereof and interest thereon shall be credited to the JV Springing Collateral Account.

• The Company and the Subsidiary Guarantors shall also take all action required in order for all Additional Collateral and Springing Collateral to be pledged to the Collateral Agent for the benefit of the Holders as and when required by this Indenture.

• For the avoidance of doubt, the Bank shall not be permitted to file any UCC financing statements describing the Springing Collateral until after the occurrence of a Springing Lien Event.

• In addition, in accordance with Section 4.19 of the Indenture, Olinda Star, shall, within 45 days of the occurrence of the Springing Security Deadline for Olinda Star, cause the Collateral Trustee (for the benefit of the Trustee, the Holders and any other applicable Secured Party) to have valid and perfected first-priority Liens on the Springing Collateral, subject to Permitted Liens, of Olinda Star.

• Upon the occurrence of a Springing Lien Event, Borrower hereby authorizes Bank to file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights in the Springing Collateral.

• After a Springing Lien Event, Borrower shall be responsible for all fees and disbursements incurred by Bank in connection with any appraisals of any Springing Collateral, field examinations or other business analysis conducted by any third parties in connection with this Agreement or any Loan Documents.

• Guarantor hereby acknowledges that it has no further ownership of the JV Springing Collateral Account and funds therein and has no rights thereto, except as expressly provided herein.

• Within 45 days of the occurrence of the Springing Security Deadline for Olinda Star, the Company and Olinda Star shall cause the Collateral Trustee (for the benefit of the Trustee, the Holders and any other applicable Secured Party) to have valid and perfected fourth-priority Liens on the Springing Collateral, the Notes in accordance with the terms of the Intercreditor Agreement.

More Definitions of Springing Collateral

Springing Collateral means, with respect to each Borrower, all of the following assets and properties of such Borrower:

Springing Collateral means all goods, securities, instruments, documents of title, chattel paper, intangibles and money, as such terms are defined in the Personal Property Security Act (British Columbia), acquired or developed by IDB with Advances hereunder used for purposes not permitted hereby, all as determined by an Audit, including all such items or kinds of personal property as IDB may from time to time agree in writing shall constitute Springing Collateral.

Springing Collateral is any and all properties, rights and assets of Borrower described on Exhibit A-1.