UAE Secured Obligations definition
UAE Secured Obligations means (a) all Obligations owing by any UAE Loan Party, (b) all Banking Services Obligations owing by any UAE Loan Party and (c) Swap Obligations owing by any UAE Loan Party to one or more UAE Revolving Lenders or their respective Affiliates; provided that at or prior to the time that any transaction relating to a Swap Obligation is executed, the UAE Revolving Lender or Affiliate thereof party thereto shall have delivered written notice to the Administrative Agent that such a transaction has been entered into and that it constitutes a UAE Secured Obligation entitled to the benefits of the Collateral Documents.
Examples of UAE Secured Obligations in a sentence
Solely for purposes of determining the amount of UAE Loans available for borrowing purposes, checks and cash or other immediately available funds from collections of items of payment and proceeds of any UAE Collateral shall be applied in whole or in part against the UAE Secured Obligations, on the Business Day after receipt, subject to actual collection.
The UAE Protective Advances shall be secured by the Liens in favor of the UAE Collateral Agent in and to the Collateral owned by the UAE Loan Parties and shall constitute UAE Secured Obligations hereunder.