Additional Security Interests Clause Samples
The "Additional Security Interests" clause allows a lender or secured party to require the borrower or debtor to provide further collateral beyond what was originally agreed upon. This may involve the borrower granting new security interests in additional assets or property if certain conditions are met, such as a decline in asset value or a breach of financial covenants. The core function of this clause is to protect the lender’s position by ensuring sufficient collateral is available to secure the loan, thereby mitigating the risk of loss if the borrower defaults.
Additional Security Interests. The Agreement and the pledge under the Agreement constitute the supplement to any other security interests currently held or to be held by the Security Agent, and shall not, in any way, be affected by other such security interests.
Additional Security Interests. The Security Interests are in addition to and are not in any way prejudiced by any other guarantees or Charge now or subsequently held by the Pledgee.
Additional Security Interests. Until such time as the First Lien Obligations have been unconditionally and irrevocably repaid in full in cash and the commitments under the Credit Facilities have been terminated and cancelled, no Borrower nor any Material Subsidiary shall grant or permit any additional Security Interests on any of its property, assets or undertaking to secure any Second Lien Obligations unless it has granted, or concurrently therewith grants, a senior Security Interest on such assets, property or undertaking to secure the First Lien Obligations.
Additional Security Interests. Without prejudice to the generality of Clause 8.1 (General Assurance), the Assignor shall, at its own cost, promptly execute and deliver to the Security Trustee in such form as the Security Trustee may require such other Security Interests over such of the Assigned Assets as shall be required by the Security Trustee (whether generally or specifically, and whether for the purpose of obtaining legal title to the relevant Assigned Assets, creating Security Interests which is effective under the laws of a foreign jurisdiction, or otherwise).
Additional Security Interests. Pledgor agrees not (1) to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Shares, (2) to create or permit to exist any security interest upon or with respect to any of the Pledged Shares, except for the security interest created by this Agreement, or (3) to enter into any other contractual obligations which may restrict or inhibit Pledgee's right or ability to sell or otherwise dispose of the Pledged Shares or any part thereof after the occurrence of an Event of Default.
Additional Security Interests. The Security Interest constituted by this Instrument is added to, and does not impair the additional Security Interests held now or in the future by the Bank with reference to the Guaranteed Obligations.
Additional Security Interests. This security interest in the Intellectual Property Collateral is granted in conjunction with the security interest granted to Lender under the Security Agreement and/or other Loan Documents. The rights and remedies of Lender with respect to the security interest in the Intellectual Property Collateral are in addition to those set forth in the Loan Documents, and those which are now or hereafter available to Lender as a matter of law or equity. Each right, power, and remedy of Lender provided for herein or in the Loan Documents, or now or hereafter existing at law or in equity, shall be cumulative and concurrent and shall be in addition to every right, power, or remedy provided for herein and the exercise by Lender of any one or more of the rights, powers, or remedies provided for in this Intellectual Property Security Agreement, or any of the other Loan Documents, or now or hereafter existing at law or in equity, shall not preclude the concurrent or later exercise by any person or entity, including Lender, of any or all other rights, powers, or remedies.
Additional Security Interests. Seller agrees that if any Inactive Organization begins to conduct any business Seller shall pledge all of its interest in such Inactive Organization to secure the Notes by (i) executing a security agreement substantially in the form of that certain Borrower Security Agreement dated as of June 5, 1997, as amended on October 10, 1997, and on the date hereof and (ii) delivering all certificates representing the shares of stock being pledged, before such Inactive Organization commences doing business.
Additional Security Interests. If at any time the Lender so requests, execute and deliver all such security agreements and other documents and instruments as the Lender may reasonably request to create in favour of, or for the benefit of, the Lender secured guarantees by the Borrower's Subsidiaries of the Borrower's obligations hereunder (provided that security interests shall be granted only in the type of collateral in which security interests are granted by the Borrower on the date hereof), and further deliver such favourable opinions of counsel, and do such other acts and things as the Lender may reasonably request in connection with such guarantees and the creation and perfection of such Liens;
Additional Security Interests. (a) Until such time as the First Lien Obligations have been unconditionally and irrevocably repaid in full in cash and the Credit Facility has been terminated and cancelled, no Loan Party shall grant or permit any additional Security Interests on any of its property, assets or undertaking to secure any Junior Debt Obligations unless it has granted, or concurrently therewith grants, a senior Security Interest on such assets, property or undertaking to secure the First Lien Obligations.
(b) Unless the First Lien Secured Parties have previously or are concurrently taking action to effect a registration of a fixed charge and the Junior Debt Lenders are permitted to do so under the Junior Debt Financing Agreements, the Junior Debt Lenders shall not register any fixed charge against any petroleum and natural gas assets of any Loan Party in respect of or as security for the Junior Debt Obligations until 30 days after they have given to the First Lien Secured Parties written notice of their intention to register such fixed charge security.