Secured Portion definition

Secured Portion means, at any time, a portion of the Obligations consisting of the obligation to deliver cash or property with a value, as determined by the Calculation Agent (as defined in the Securities Contract), equal to the value, as determined by the Calculation Agent in a consistent manner, of the Collateral then pledged to the Beneficiary under the Pledge Agreement.
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Secured Portion means, at any time, a portion of the Guaranteed Obligations consisting of the obligation to deliver cash or property with a value, as determined by the Calculation Agent (as defined in the Agreement), equal to the value, as determined by the Calculation Agent in a consistent manner, of the Collateral then pledged to the Counterparty under the Agreement; provided that if no Collateral is then pledged to Counterparty or Counterparty ceases to have a valid, first priority, perfected security interest in the Collateral other than as a result of actions of the Counterparty, there shall be no Secured Portion of the Guaranteed Obligations.
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Secured Portion means the Sterling Equivalent Amount of the Applicable Collateral Percentage of the aggregate outstanding amount available to be drawn down under the Letters of Credit.
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Examples of Secured Portion in a sentence

  • Such security may be enforced if the Issuer defaults on certain obligations under the Notes and, in such circumstances, any net proceeds realised upon enforcement of the security will be applied in or towards satisfaction of the claims of, among others, the security trustee (the "Trustee") and any appointee and/or receiver appointed by the Trustee in respect of the relevant Secured Notes before the claims of the holders of the relevant Secured Notes in respect of the Secured Portion.

  • If a Series of Notes is specified in the applicable Final Terms as being Secured Notes, the applicable Final Terms will also specify the proportion of such Note which is secured (the "Secured Portion").

  • Certain Notes ("Secured Notes") have the benefit of security granted by the Issuer over a pool of collateral (a "Collateral Pool") (which may be comprised of cash and/or government bonds and/or senior or subordinated debt obligations of specified entities).If a Series of Notes is specified in the applicable Pricing Supplement as being Secured Notes, the applicable Pricing Supplement will also specify the proportion of such Note which is secured (the "Secured Portion").

  • If a Series of Notes is specified in the applicable Pricing Supplement as being Secured Notes, the applicable Pricing Supplement will also specify the proportion of such Note which is secured (the "Secured Portion").

  • Class 4 consists of the Prepetition Credit Agreement Claims (Secured Portion).

  • Class 5 consists of the Prepetition Term Loan Claims (Secured Portion).

  • Certain Notes ("Secured Notes") have the benefit of security granted by the Issuer over a pool of collateral (a "Collateral Pool") (which may be comprised of cash and/or government bonds and/or senior or subordinated debt obligations of specified entities).If a Series of Notes is specified in the applicable Final Terms as being Secured Notes, the applicable Final Terms will also specify the proportion of such Note which is secured (the "Secured Portion").

  • On the Effective Date and in addition to the reimbursement described in Article V.R of this Plan, each holder of an Allowed Prepetition Term Loan Claim (Secured Portion) shall receive, in full satisfaction, settlement, discharge and release of, and in exchange for, such Allowed Class 5 Claim, its Pro Rata share of 100% of the New Equity Interests Pool (subject to dilution by the New Management Incentive Plan Equity).

  • Israel has agreed to pledge certain collateral as security for the repayment of the Unguaranteed Secured Portion, as more fully described in Note 4.

  • The Prepetition Term Loan Claims (Secured Portion) are deemed Allowed Secured Claims in the aggregate principal amount of $162.9 million, plus any accrued and unpaid interest payable on such amounts through the Effective Date.


More Definitions of Secured Portion

Secured Portion means, as of any date of determination, the outstanding principal amount of loans equal to (a) with respect to the loans under all Credit Facilities, the sum of $1,005,000,000 minus the principal amount of the Secured Portion of loans under the Credit Facilities that have been repaid after the Amendment Effective Date, (b) with respect to Revolving Credit Loans (and excluding for the avoidance of doubt Letter of Credit Obligations, which are included in the Unsecured Portion), the sum of $487,500,000 minus the principal amount of the Secured Portion of Revolving Credit Loans that have been repaid after the Amendment Effective Date, and (c) with respect to Term Loans, the sum of $262,500,000 minus the principal amount of the Secured Portion of Term Loans that have been repaid after the Amendment Effective Date provided that from and after the occurrence of the Security Release Trigger, the Secured Portion shall equal zero (0) and none of the Obligations under this Agreement and the other Credit Facility shall constitute the Secured Portion.>
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Secured Portion means, in relation to any Covered Series, the portion of the Notes which have the benefit of the Security (as specified in the applicable Pricing Supplement or Final Terms).
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Secured Portion means, with respect to any Indebtedness under Section 6.01(a)(viii), either of the following as applicable: for 'European Options', up to the present value of the put strike; or, for 'American Options', up to the strike price."
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Secured Portion means, as of any date of determination, the outstanding principal amount of loans equal to (a) with respect to the loans under all Credit Facilities, the sum of $1,005,000,000 minus the principal amount of the Secured Portion of loans under the Credit Facilities that have been repaid after the Amendment Effective Date and (b) with respect to the Loan, the sum of $255,000,000 minus the principal amount of the Secured Portion of the Loan that has been repaid after the Amendment Effective Date, provided that from and after the occurrence of the Security Release Trigger, the Secured Portion shall equal zero (0) and none of the Obligations under this Agreement and the Other Credit Facility shall constitute the Secured Portion.
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Secured Portion of the membership interests shall equal a percentage equal to 100 times (a) the original balance of the Promissory Note, less the sum of amounts paid in cash by Pledgor under the Promissory Note and the amount of gross cash proceeds received by Secured Party through sales of common stock obtained as payment or upon conversion of the Promissory Note, divided by (b) the original balance of the Promissory Note; provided however, that the Secured Portion shall not be adjusted downward below 10% until the time the Earnout Reconciliation has been finalized (the “Earnout Security Portion”). For example, if the original principal amount of the promissory note is $500 million, and $100 million has been paid in cash, then the Secured Party shall have a security interest solely in 80% of the membership interests in each of New Rise Renewables, LLC and New Rise Renewables Reno, LLC, calculated as 80% = 100* (500-100)/500. Notwithstanding the foregoing the Secured Portion of the membership interests in New Rise Renewables, LLC, a Delaware limited liability company and New Rise Renewables Reno, LLC, a Delaware limited liability company shall be all of the membership interests in New Rise Renewables, LLC, a Delaware limited liability company and New Rise Renewables Reno, LLC, a Delaware limited liability company until the initial payment is made under the Note. Upon completion of the Earnout Reconciliation, the remainder Earnout Security Portion and corresponding Collateral shall be released if it is determined that the Pledgor does not owe any further payment to the Secured Party as a result of the Earnout Reconciliation. If the Pledgor owes an additional payment pursuant to the Earnout Reconciliation, the security interest shall remain in the Earnout Security Portion and corresponding Collateral until such time it is paid by Pledgor and following such payment, released.
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Related to Secured Portion

  • Secured Promissory Note is defined in Section 2.4.

  • Secured Property means the assets that are the subject of the security constituted by the Security Documents.

  • Senior Secured Loan means any interest in a loan, including any assignment of or participation in or other interest in a loan, that (i) is not (and is not expressly permitted by its terms to become) subordinate in right of payment to any obligation of the obligor in any bankruptcy, reorganization, arrangement, insolvency, moratorium or liquidation proceedings (other than pursuant to a Permitted Working Capital Lien and customary waterfall provisions contained in the applicable loan agreement), (ii) is secured by a pledge of collateral, which security interest is (a) validly perfected and first priority under Applicable Law (subject to liens permitted under the applicable credit agreement that are reasonable for similar loans, and liens accorded priority by law in favor of any Governmental Authority) or (b)(1) validly perfected and second priority in the accounts, documents, instruments, chattel paper, letter-of-credit rights, supporting obligations, deposit accounts, investments accounts and any other assets securing any Working Capital Revolver under Applicable Law and proceeds of any of the foregoing (a first priority lien on such assets a "Permitted Working Capital Lien") and (2) validly perfected and first priority (subject to liens for taxes or regulatory charges and any other liens permitted under the related underlying instruments that are reasonable and customary for similar loans) in all other collateral under Applicable Law, and (iii) the Portfolio Manager determines in good faith that the value of the collateral for such loan (including based on enterprise value) on or about the time of acquisition equals or exceeds the outstanding principal balance of the loan plus the aggregate outstanding balances of all other loans of equal or higher seniority secured by a first priority Lien over the same collateral. For the avoidance of doubt, debtor-in-possession loans and FLLO Loans shall constitute Senior Secured Loans.

  • Secured Loan has the meaning specified in Section 2(e) hereof.

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Exercise Any Secured Creditor Remedies or “Exercise of Secured Creditor Remedies” shall mean, except as otherwise provided in the final sentence of this definition:

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Senior Secured Parties means the Credit Agreement Secured Parties and any Additional Senior Debt Parties.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Secured Rate Contract means any Rate Contract between Borrower and the counterparty thereto, which (i) has been provided or arranged by GE Capital or an Affiliate of GE Capital, or (ii) Agent has acknowledged in writing constitutes a “Secured Rate Contract” hereunder.

  • Subordinate Prepayment Percentage As to any Distribution Date and Loan Group, 100% minus the Senior Prepayment Percentage for such Loan Group for such Distribution Date.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • Secured Party as used in this Annex means only Party B, (b) the term “Pledgor” as used in this Annex means only Party A, (c) only Party A makes the pledge and grant in Paragraph 2, the acknowledgement in the final sentence of Paragraph 8(a) and the representations in Paragraph 9.

  • Principal Prepayment Period The month preceding the month in which the related Remittance Date occurs.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Applicable Prepayment Premium has the meaning specified therefor in the Fee Letter.

  • ABL Secured Parties means “Secured Parties” as defined in the ABL Credit Agreement.

  • Applicable Prepayment Percentage means, at any time, 75%; provided that, if at any time the Consolidated First Lien Net Leverage Ratio as of the last day of the fiscal year for which the Applicable Prepayment Percentage is calculated (as set forth in an officer’s certificate delivered pursuant to Section 9.01(e) for such fiscal year) is (i) less than or equal to 2.75:1.00 but greater than 2.25:1.00, the Applicable Prepayment Percentage shall instead be 50%, (ii) less than or equal to 2.25:1.00 but greater than 1.75:1.00, the Applicable Prepayment Percentage shall instead be 25% and (iii) less than or equal to 1.75:1.00, the Applicable Prepayment Percentage shall instead be 0%.

  • Secured Promissory Note Record is a record maintained by each Lender with respect to the outstanding Obligations owed by Borrower to Lender and credits made thereto.

  • Senior Secured Credit Facilities means the revolving credit facility and other credit facilities under the Credit Agreement, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings, refinancings or replacements thereof and any one or more indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund, supplement or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, trustee, lender or group of lenders or holders.

  • Additional First Lien Secured Party means the holders of any Additional First-Lien Obligations and any Authorized Representative with respect thereto, and shall include the Initial Additional First-Lien Secured Parties.