Purchase Money Security means any Encumbrance given, reserved, created, assumed or arising by operation of law, whether or not in favour of the transferor, after the date hereof to provide or secure, or to provide the Company with funds to pay the whole or any part of, the consideration for the acquisition of tangible personal property other than Inventory where:
Purchase Money Security. Interest shall mean Liens upon tangible personal property securing loans to a Loan Party or deferred payments by a Loan Party for the purchase of such tangible personal property.
Purchase Money Security means any Security created or to be created by the Borrower or any Obligor over or affecting any asset described in paragraph (a)(i) of the definition of “Purchase Money Indebtedness” where:
Examples of Purchase Money Security in a sentence
Purchaser hereby grants Vendor a Purchase Money Security Interest (as defined in applicable statute) in the Goods and all proceeds thereof.
In consideration of selling steel related products and services, the purchaser hereby grants as security for credit terms, a Purchase Money Security Interest in all steel related products and services sold to the Purchaser and Security Interest in the balance of all the personal property which is in, or will be in the possession of the Purchaser and its agent.
To secure payment and performance of all obligations, Applicant hereby grants Seller a Purchase Money Security Interest in all inventory, equipment, and materials distributed by Seller, whenever sold, consigned, leased, rented or delivered, directly or indirectly, to or for the benefit of Applicant by Seller.
Until such time, the Customer acknowledges that Provider shall retain, and Customer hereby grants to Provider, a Purchase Money Security Interest in the equipment Customer purchases from Provider (“Customer Equipment”), and Customer shall execute all documents necessary to perfect such a security interest.
KJ may allocate amounts received from the Customer in any manner that KJ determines, including in any manner required to preserve any Purchase Money Security Interest KJ has in the Equipment.
More Definitions of Purchase Money Security
Purchase Money Security. Interest shall mean Liens upon tangible -------------------------------- personal property securing loans to a Loan Party or deferred payments by a Loan Party in either case, for the purchase of such tangible personal property. Purchase Price shall mean, with respect to any Permitted -------------- Acquisition by the Loan Parties, the sum of (i) cash paid at closing, (ii) the amount of any deferred payments, which are not contingent on the financial performance of the business being acquired, (iii) the projected amount of any deferred payments which are contingent on the financial performance of the business being acquired following the acquisition, provided that it shall be assumed for purposes of such projection that the cash flow and other financial performance of the acquired business in each year after the acquisition date shall be the same as the financial performance of such business during the twelve (12) months preceding such date, (iv) the amount of any debt assumed or guaranteed by any Loan Party, (v) if the Loan Parties are acquiring stock of another person (whether by purchase, merger or otherwise) the amount of debt of such person outstanding after the acquisition, plus (vi) the value of any stock, securities or other consideration given by any of the Loan Parties in connection therewith. If the consideration to be paid in connection with a Permitted Acquisition includes deferred payments which are contingent on the financial performance of the acquired business after the acquisition, the Loan Parties shall compare the amount of deferred payments which the Loan Parties actually pay (or which become ascertainable if the Loan Parties can ascertain the amount of any deferred payments before paying them) with the amount which the Loan Parties projected they would pay pursuant to clause (iii) in the preceding sentence. The Purchase Price in connection with such acquisition shall be deemed to increase by the amount of such excess for purposes of determining the aggregate Purchase Price paid by the Loan Parties in connection with Permitted Acquisitions pursuant to Sections 8.02(f)(iii)(v) and 8.02(f)(iv)(x). Purchasing Bank shall mean a Bank which becomes a party to this --------------- Agreement by executing an Assignment and Assumption Agreement.
Purchase Money Security. INTEREST:
Purchase Money Security. INTEREST shall mean Liens upon tangible personal property securing loans to any Loan Party or Subsidiary of a Loan Party or deferred payments by such Loan Party or Subsidiary for the purchase of such tangible personal property, provided that such security interest does not encumber any asset not thereby purchased, and provided further that such security interest does not secure obligations in excess of such purchase price or deferred payments. PURCHASING LENDER shall mean a Lender which becomes a party to this Agreement by executing an Assignment and Assumption Agreement. RECEIVABLES ENTITY shall have the meaning assigned to such term in Section 7.2.17. REFERENCE CURRENCY shall have the meaning assigned to such term in the definition of Equivalent Amount.
Purchase Money Security means any Security Interest created or assumed by an Obligor to secure PMSI Obligations that extends only to the Property that the Obligor acquired or leased in incurring or assuming those PMSI Obligations, and the identifiable or traceable proceeds of that Security Interest.
Purchase Money Security. Interest shall mean Liens upon tangible -------------------------------- personal property securing loans to the Borrower or deferred payments by the Borrower for the purchase of such tangible personal property. Purchasing Bank shall mean a Bank which becomes a party to this --------------- Agreement by executing an Assignment and Assumption Agreement. Ratable Share shall mean the proportion that a Bank's Commitment ------------- bears to the Commitments of all of the Banks.
Purchase Money Security. INTEREST: CUSTOMER AND SELLER ARE IN THE PROCESS OF NEGOTIATING FINANCING ARRANGEMENTS WHEREBY SELLER WILL BE PROVIDING FINANCING FOR PURCHASES MADE BY CUSTOMER HEREUNDER. THE PARTIES AGREE THAT THE TERMS OF THE FINANCING ARRANGEMENTS, IF CONCLUDED, SHALL SUPERSEDE THIS SECTION. UNTIL SUCH ARRANGEMENTS ARE CONCLUDED, OR IN THE EVENT THAT CUSTOMER ELECTS TO MAKE PURCHASES HEREUNDER OUTSIDE OF SUCH FINANCING ARRANGEMENTS, THIS SECTION SHALL APPLY.
Purchase Money Security means any Encumbrance given, reserved, created, assumed or arising by operation of law, whether or not in favour of the transferor, after the date hereof to provide or secure, or to provide the Company with funds to pay the whole or any part of the consideration for the acquisition of tangible or personal property other than Inventory where: