Security Trust definition

Security Trust means the trust established under clause 2.2 of this Deed.

Security Trust means a trust account established with a Trustee for the purpose of securing the Reinsurer’s obligations to the Company in accordance with Article IX hereof.

Security Trust means the trust established under the Security Trust Deed.

Examples of Security Trust in a sentence

• Facility Amounts shall be retained in the Security Trust Account(s) and, before the Insurance Facility First Closing Date, shall be used on a revolving basis for the purpose of providing new Insurance Contracts under the Insurance Facility.

• Where the Secured Party is obliged to consult under the terms of this Agreement, the Secured Party shall carry out that consultation in accordance with the instructions it receives from the Bondholders’ Representative provided that such instructions are in accordance with the terms of the Security Trust Agreement.

• It is agreed by the parties hereto that all employers covered by this Agreement shall contribute a sum as listed in Schedule "A" herein for each compensable man hour of Carpenters employed by Employers covered by this Agreement, which contribution shall be made to the Western Washington Carpenters-Employers Health and Security Trust Fund in the manner as set forth in the Trust Agreement of said Trust Fund.

• Notwithstanding anything else in this Agreement or in any other Loan Document, in acting hereunder, the Secured Party acts at all times and in all circumstances in accordance with, and with the benefit of the protections set out in, the Security Trust Agreement.

• It is hereby acknowledged that the Security Trustee is a party to these Loan Transaction Terms solely for the better preservation and enforcement of its rights under the Security Trust Deed and the Loan Facility Agreement Standard Terms, and has no liabilities or obligations hereunder.

More Definitions of Security Trust

Security Trust means each of the trusts, one for each Underlying Security, constituted under the Instalment Receipts Deed.

Security Trust shall have the meaning set forth in Sections 4.6 and 10.3(d).

Security Trust. Deed shall mean the Security Trust Deed dated 11 May 2003 executed and delivered by Koppers Australia Pty Ltd. to the Administrative Agent for the benefit of the Lenders. Shares shall have the meaning assigned to that term in Section 6.1.2. Solvent shall mean, with respect to any Person on a particular date, that on such date (i) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (ii) the present fair saleable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (iii) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business, (iv) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature, and (v) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged. In computing the amount of contingent liabilities at any time, it is intended that such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. Standard & Poor’s shall mean Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. Standby Letter of Credit shall mean a Letter of Credit issued to support obligations of one or more of the Loan Parties, contingent or otherwise, which finance the working capital and business needs of the Loan Parties incurred in the ordinary course of business, but excluding any Letter of Credit under which the stated amount of such Letter of Credit increases automatically over time. Subsidiary of any Person at any time shall mean (i) any corporation or trust of which more than 50% (by number of shares or number of votes) of the outstanding capital stock or shares of beneficial interest normally entitled to vote for the election of one or more directors or trustees (regardless of any contingency which...

Security Trust means the trust established under clause [ ]2.2 of this Deed.

Security Trust. The Grantor Trust created by this Trust Agreement, the corpus of which consists of (i) the Mortgage Securities and all proceeds thereof and (ii) the Grantor Trust Account and all amounts held therein or credited thereto.

Security Trust means the Project Frankfort security trust established pursuant to the Security Trust Deed;

Security Trust. Deed means the deed entitled “Security Trust Deed for the Cobar Mezzanine Security Trust” dated on or about the date of this Agreement and made between, among others, the Company and the Security Trustee;