Springing Security Documents definition

Springing Security Documents means the (i) pledge agreement, dated as of the Effective Date between the Republic, the Account Bank and the Collateral Agent, as pledgee thereunder, and (ii) the control agreement, dated as of the Effective Date, between the Republic, the Account Bank and the Oil- linked Securities Trustee, as collateral agent thereunder (the “Collateral Agent”), pursuant to which the Republic has granted in favor of the Oil-linked Securities Trustee for the benefit of the Holders a springing lien and control over the Royalty Revenues Account to arise and be effective upon a Put Exercise.

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Springing Security Documents means, with respect to the relevant Springing Subsidiary Guarantor, any one or more security agreements, pledge agreements, collateral assignments, mortgages, deeds of covenants, assignments of earnings and insurances, share pledges, share charges, collateral agency agreements, deeds of trust or other grants or transfers for security executed and delivered by the Company, the grantors or any other obligor under the Indenture or other Debt Document, to be entered into on the Springing Security Deadline for such Springing Subsidiary Guarantor, creating, or purporting to create, a Lien upon all or a portion of the Collateral in favor of the Collateral Trustee for the benefit of the Holders of Securities, any other First Lien Obligations, Second Lien Obligations, Third Lien Obligations, Fourth Lien Obligations, Fifth Lien Obligations and any applicable Priority Lien Obligations, in each case as amended, renewed or replaced, in whole or part, from time to time, in accordance with its terms.

Springing Security Documents means each Security Agreement, each Pledge Agreement, each Control Agreement, each Landlord’s Waiver and any other document pursuant to which any Lien is granted by a Company to Agent, for the benefit of the Lenders, as security for the Secured Obligations, or any part thereof, and each other agreement executed in connection with any of the foregoing, as any of the foregoing may from time to time be amended, restated or otherwise modified or replaced.

Examples of Springing Security Documents in a sentence

• On the Closing Date, Borrower and each Guarantor of Payment shall execute and deliver to Agent, for the benefit of the Lenders, the Springing Security Documents required to be delivered pursuant to Section 4.2 hereof.

• If any Lien granted in any Loan Document in favor of Agent, for the benefit of the Lenders, shall be determined to be void, voidable or invalid, or does not otherwise have the priority contemplated (whether perfected or not) by this Agreement or the Springing Security Documents and Borrower has failed to promptly execute appropriate documents to correct such matters.

• The undertaking in this Section 9.11 shall survive repayment of the Loans, cancellation of the Notes, if any, expiration or termination of the Letters of Credit, any foreclosure under, or modification, release or discharge of, any or all of the Springing Security Documents, termination of this Agreement and the resignation or replacement of the agent.

• Borrower agrees that, within thirty (30) days after such written request, Borrower shall secure all of the Secured Obligations by delivering to Agent, for the benefit of the Lenders, such Springing Security Documents or other documents, instruments or agreements as Agent may reasonably require.

• At any time on or after the Triggering Event Date, Agent shall be authorized to take all such action (including, but not limited to, filing U.C.C. Financing Statements and other appropriate filings in the appropriate filing offices) that Agent, in its reasonable judgment deems advisable under the circumstances, in order to perfect the Liens granted to Agent, for the benefit of the Lenders, pursuant to the Springing Security Documents.

• Except otherwise defined herein, capitalized terms used herein shall have the same meanings assigned to such terms under the Lease.

• On the Triggering Event Date the Springing Security Documents shall be automatically released from escrow and be fully effective retroactively as of the Closing Date, without Agent or any Lender taking any action or providing notice of any kind to Borrower or any Guarantor of Payment.

• In the event of a merger, sale of assets or other transaction permitted pursuant to Section 5.12 hereof and so long as there is no Event of Default existing, Agent, at the request and expense of Borrower, is hereby authorized by the Lenders to release, in connection therewith one or more Guarantors of Payment or pledge of pledged securities, and any Springing Security Documents, as appropriate, upon the written request of Borrower.

More Definitions of Springing Security Documents

Springing Security Documents means, with respect to the relevant Springing Subsidiary Guarantor, any security agreements, pledge agreements, collateral assignments, mortgages, deeds of covenants, assignments of earnings and insurances, share pledges, share charges, collateral agency agreements, deeds of trust, Uniform Commercial Code financing statements and other filings, recordings or registrations and other grants or transfers for security executed and delivered by the Company, the grantors or any other obligor under the Indenture or other Debt Document, to be entered into on the Springing Security Deadline for such Springing Subsidiary Guarantor, creating, or purporting to create, a Lien upon all or a portion of the Springing Collateral in favor of the Collateral Trustee for the benefit of the Holders, in each case as amended, renewed or replaced, in whole or part, from time to time, in accordance with its terms.

Springing Security Documents means, with respect to Olinda Star, any one or more security agreements, pledge agreements, collateral assignments, mortgages, deeds of covenants, assignments of earnings and insurances, share pledges, share charges, collateral agency agreements, deeds of trust or other grants or transfers for security executed and delivered by the Company, the grantors or any other obligor under the Indenture or other Debt Document, to be entered into on the Springing Security Deadline for Olinda Star, creating, or purporting to create, a Lien upon all or a portion of the Collateral in favor of the Collateral Trustee for the benefit of the Holders of Notes, in each case as amended, renewed or replaced, in whole or part, from time to time, in accordance with its terms.