Collateral Terms. The following clauses are included in the Agreement, as if they are set out in the main body of the Agreement in the place where they would appear based on their clause numbering:
Collateral Terms. Party B has good and marketable title to all properties and assets (the “Initial Assets”) transferred to it under the Asset Transfer Agreement, in each case free from liens, encumbrances and defects that would affect Party A in any manner, including without limitation any effect on the value thereof or interference with the use made or to be made thereof by it or Party A’s security interest therein. With respect to the Initial Assets and any cash and other properties and assets acquired or received by Party B, including any Participations in any properties or assets received by Party B, on or after the date hereof and required to be pledged in favor of Party A (the “Further Assets” and, collectively with the Initial Assets, the “Collateral” and any particular asset that is part of the Collateral, a “Collateral Asset”), pursuant to the Asset Transfer Agreement or otherwise (and for the avoidance of doubt, including without limitation, any interest, principal, capital gain or realization, dividend or other amount received with respect to any Collateral): (i) Party B will have the power to grant a security interest to Party A in such Collateral and will have taken all necessary actions to authorize the granting of such security interest; (ii) Party B will be the sole owner of such Collateral, free and clear of any security interest, lien, encumbrance or other restrictions other than Permitted Liens; (iii) Party A will have a valid and perfected security interest in such Collateral, subject to no prior security interest, lien or encumbrance except for liens expressly permitted pursuant to this Agreement; (iv) to the extent such Collateral can be credited to the Custodial Account, the Collateral is held solely in the Custodial Account in accordance with Section 7 of this Annex I and Party B has not transferred any Collateral Asset out of the Custodial Account other than in accordance with the terms of this Agreement; and (v) the performance by Party B of its obligations under this Agreement will not result in the creation of any security interest, lien or other encumbrance on any Collateral Asset other than (A) the security interest granted pursuant to this Agreement and (B) Permitted Liens.
Collateral Terms. Where the context requires, terms relating to the Collateral or any part thereof, when used in relation to a Pledgor, shall refer to such Pledgor’s Collateral or the relevant part thereof.
Collateral Terms. Notwithstanding clause 9.3(f) of this Agreement, the Distributor and Trader agree that to the extent that any information received by the Distributor in accordance with Schedule 2 includes revised reconciliation information or additional consumption information, and that requires the Distributor to provide a separate Credit Note or Debit Note to the Trader, no Use of Money Adjustment will be applied.
Collateral Terms a. Second priority perfected security interest in all assets of Loan Parties, and Equity Interests in Loan Parties (other than Equity Interests in the Borrower), subject to customary exceptions for permitted liens, foreign subsidiaries, immaterial real property, excluded accounts, security interests prohibited by law or agreement and other customary exceptions.
Collateral Terms. 32.5 Provisions relating to UoSA-Electricity: If a Use of System Agreement – Electricity was in force between the Distributor and the Trader immediately prior to this Agreement coming into force between them (Prior UoSA), then:
Collateral Terms. C1.1 In accordance with clause C1.2, the Distributor and Trader will meet the obligations outlined in Schedule 9, Schedule 10, Schedule 11, and Schedule 12 of this Agreement to the best of their abilities and in accordance with Good Electricity Industry Practice.
Collateral Terms. Counterparty hereby represents, warrants and covenants that if and to the extent that either (i) any documentation governing transactions similar to those under this Agreement with any other entities entered into before, on or after the date of this Agreement or (ii) any lease, consignment, loan or credit agreement (or similar document under which Counterparty is the borrower other than the Credit Agreement) contains (x) any terms relating to collateral, security, guaranty or other security interest or credit enhancement (“Collateral Terms”), or (y) contains Collateral Terms that are more favorable than any Collateral Terms granted in respect of Consigned Bullion under this Agreement, Counterparty will promptly notify BMO thereof and Counterparty will provide or procure a provision to BMO of equally favorable Collateral Terms, or the equal or ratable benefit of such or similar Collateral Terms, in respect of Counterparty’s existing and future Obligations. The failure by Counterparty to remedy a breach of any aspect of this provision within 10 days of demand by BMO shall be considered an Event of Default under this Agreement and the provisions set out in Section 17 will apply.
Collateral Terms. The Investor Group shall provide $245,000 cash collateral pursuant to the terms in Schedule I hereto, to secure the last $245,000 of principal due under the Note, provided, however that once the principal balance of the Note is reduced to below $245,000, with each principal payment made by the Company thereafter, a like amount of said cash collateral shall be returned to the Investor Group. The cash collateral provided hereunder shall be applied by Bank to the Note only if there is an Event of Default under Section 7(a) or 7(g) of the Agreement, otherwise the cash collateral shall remain with Bank until the occurrence of such Events of Default under 7(a) or 7(g) or until such time as the Note is paid in full.
