Examples of Primary Collateral in a sentence
If, in connection with any loan or other credit accommodation to be provided by Lender to a Borrower, Lender receives a Lien on any assets (other than Primary Collateral) to secure such loans and other credit accommodations, the Lien on such assets shall also secure the Loan Facility Obligations.
The Facility together with all interest, all fees, commitment charges, costs, charges, expenses and other monies whatsoever stipulated in or payable under this Agreement and the other Transaction Documents shall be secured by Primary/ Collateral Security as specified in Schedule III of this Agreement B.
The Facility together with all interest, all fees, commitment charges, costs, charges, expenses and other monies whatsoever stipulated in or payable under this Agreement and the other Transaction Documents shall be secured by Primary/ Collateral Security as specified in Schedule III (a) of this Agreement.
Provided that, in such case that the proceeds of the liquidation of the Primary Collateral are sufficient to pay off and otherwise discharge the Loan without drawing on the Cash Collateral from the Cash Collateral Account, any remaining proceeds of the Primary Collateral may be applied by the Lender to pay off any other obligations of the Borrower not arising under the Loan.
For such credits, a Primary Collateral Volume and a Secondary Collateral Volume can be applied (see below).