Security Cover definition

Security Cover has the meaning given to it in Clause 6.3;

Security Cover has the meaning given to that term in Section 1.1 of Schedule 11;

Security Cover means, in respect of each Supplier, the aggregate amount for the time being which it shall be required by the Executive Committee to provide and maintain by way of security in accordance with Part 3;

Examples of Security Cover in a sentence

• The Company is permitted to securitize its receivables, including the receivables that form the part of Mortgaged Properties, from time to time, provided it maintains the Required Security Cover at all times during the tenor of the Debentures.

• The Company shall provide, as and when required, a CA certificate to the Debenture Trustee confirming that the Required Security Cover for the outstanding Debenture is maintained.

• In submitting their bids, bidders shall include confirmation that, if successful, they will be in a position to satisfy these requirements and indicate what form of Security Cover will be provided.

• This Policy outlines the obligations of a Counterparty to provide Security Cover with respect to its payment obligations under the Agreement(s) where none of the credit ratings of that Counterparty is an Approved Credit Rating or where the long term unguaranteed, unsecured and unsubordinated debt of such Counterparty is not rated by any of S&P, Fitch or Moodys.

• Any such alternative collateral must be in form and substance satisfactory to the Transporter (at its discretion but consistent with the provisions relating to Security Cover as set out in the Financial Security Policy).

More Definitions of Security Cover

Security Cover means, with respect to a Counterparty, security for the payment obligations of such Counterparty to the Transporter under the Agreements entered into between such Counterparty and the Transporter in form and substance acceptable to the Transporter, and may take the form of a Letter of Credit, a Qualifying Guarantee, a Charged Account with Account Charge, and a Cash Deposit with Deposit Agreement or such other form of security acceptable to the Transporter, as per Section 3.2;

Security Cover means security cover (if any) provided by the User to SONI under clause 6;

Security Cover means on any day, the amount which is obtained by dividing:

Security Cover has the meaning given to it in Schedule 1.

Security Cover means, in respect of a Quarter Date, the ratio of (i) the Appraised Security Value for that Quarter Date to (ii) the aggregate Cost Price element of all Deferred Sale Prices outstanding on such Quarter Date minus (A) the balances standing to the credit of the Retention Account and Mandatory Prepayment Account as at that Quarter Date and minus (B) the amount, not to exceed $10,000,000 (or its equivalent), by which the sum of all Cash and Cash Equivalent Investments exceeds $15,000,000 (or its equivalent).

Security Cover means the security cover as mentioned in the Schedule of this Agreement;

Security Cover means the security cover to be maintained at all times in terms of the value of the Property with respect to the Outstanding Amount as more specifically mentioned in the Disbursement Letter;