Qualifying Security Sample Clauses

The 'Qualifying Security' clause defines the specific criteria that a security must meet to be considered eligible under the terms of an agreement. Typically, this involves setting standards related to the type of security (such as shares, bonds, or other financial instruments), its regulatory status, or its listing on recognized exchanges. For example, only securities that are fully paid, freely transferable, and not subject to restrictions might qualify. The core function of this clause is to ensure that only securities meeting agreed-upon standards are included, thereby reducing ambiguity and managing risk for the parties involved.
Qualifying Security. The Qualifying Security duly executed and in the case of any mortgages registered with first priority through the Registrar of Ships (or equivalent official) at the port of registry of the Qualifying Vessel concerned.
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Qualifying Security. The Borrower shall deliver to the Agent the following documents and evidence if it decides to exercise its option to put in place any of the Qualifying Security (other than the Guarantee):- 3.4.1 Corporate Documents The documents and evidence contained in Clauses 3.1.1 to 3.1.4 inclusive (to the extent such corporate documents do not already authorise the Qualifying Security) in relation to the giver of the Qualifying Security; 3.4.2 Vessel documents Photocopies, certified as true, accurate and complete by a director or the secretary of the Borrower of (in respect of each Qualifying Vessel):- (a) any Qualifying Contract which is in force at the time of this Agreement; and (b) the management agreement relating to that Qualifying Vessel which is in force at the time of the granting of the Qualifying Security; in each case together with all addenda, amendments or supplements. 3.4.3 Evidence of ownership In respect of each Qualifying Vessel, certificate(s) of ownership and encumbrance (or equivalent) issued by the Registrar of Ships (or equivalent official) at the Qualifying Vessel’s port of registry confirming that such Qualifying Vessel is on the Qualifying Security Date owned by her owner and free of registered Encumbrances (other than the Qualifying Security). 3.4.4 Evidence of insurance Evidence that each Qualifying Vessel is insured in the manner required by the relevant Qualifying Security and that letters of undertaking will be issued in the manner required by the Qualifying Security, together with (if required by the Agent) the written approval of the Insurances by an insurance adviser appointed by the Agent.
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Qualifying Security. If the Borrower exercises its option to put in place any Qualifying Security (other than the Guarantee) on or before the first Advance Date, the documents and evidence listed in Clause 3.4.
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Qualifying Security. 23 SECTION 7.7. QUALIFYING LETTER OF CREDIT..............................................
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Qualifying Security. (a) At all times during the Term of the Equipment Operating Lease Old Dominion shall, subject to the terms of this Section 7.6, maintain for the benefit of the Owner Participant a first priority security interest in a Qualifying Security. Old Dominion shall be permitted, from time to time, to replace any Qualifying Security with a replacement Qualifying Security so long as there shall be no interruption in such first priority security interest provided by the Qualified Security in consequence of any such optional replacement; PROVIDED that it delivers a favorable opinion of counsel, such counsel and such opinion, in form and substance reasonably satisfactory to the Owner Participant, regarding the validity and perfection of the security interest. If any Qualifying Security maintained pursuant to this Section 7.6 shall cease to be a Qualifying Security, Old Dominion shall, within 90 days of the earlier of (i) having Actual Knowledge of such fact or (ii) receiving notice from the Owner Participant of such fact, provide (A) a first priority security interest in a substitute Qualifying Security and (B) a favorable opinion of counsel, such counsel and such opinion, in form and substance reasonably satisfactory to the Owner Participant, regarding the validity and perfection of such security interest. (b) Initially the Qualifying Security shall consist of the 1996 Series A Bonds, which 1996 Series A Bonds shall be insured under the Bond Insurance Policy issued by AMBAC. Old Dominion represents that it intends to replace the 1996 Series A Bonds with a new series of Old Dominion's Bonds insured by AMBAC and otherwise meeting the criteria for a Qualifying Security. If Old Dominion shall not effect such a replacement, it shall, nonetheless be obligated to remain in full compliance with this Section 7.
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Related to Qualifying Security

  • Continuing Security 3.1 This Guarantee: 3.1.1 is and shall at all times be a continuing security for the payment of the full amount of the Outstanding Indebtedness from time to time; 3.1.2 shall not be satisfied by any intermediate payment or satisfaction of any part of the Outstanding Indebtedness; 3.1.3 shall be in addition to and shall not merge with or be prejudiced or affected by any other security for the Outstanding Indebtedness which may have been, or may at any time hereafter be, given to the Banks (or any of them) by the Borrower or any other person. 3.2 The obligations of the Guarantor under this Guarantee shall not be reduced, discharged or otherwise adversely affected by reason of any act, omission, matter or thing (whether or not known to the Guarantor and/or any Bank) which, but for this provision, might operate to release the Guarantor from all or part of its liability under this Guarantee including, without limitation: 3.2.1 any time or indulgence granted to, or composition with, the Borrower or any other person; or 3.2.2 any termination, renewal, extension or variation of any credit, accommodation or facility granted by the Banks (or any of them) to the Borrower or any other person or any amendment of, or the making of any supplement to, any Finance Document or any other document or security; or 3.2.3 the taking, variation, compromise, renewal, enforcement, realisation or release of, or refusal or neglect or failure to take, perfect, release or enforce, any rights, remedies or securities against, or granted by, any Obligor or other person; or 3.2.4 any incapacity, disability, or defect in powers of any Obligor or other person, or any irregular exercise thereof by, or lack of authority of, any person purporting to act on behalf of any Obligor or other person; or 3.2.5 any illegality, invalidity, avoidance or unenforceability on any grounds whatsoever of, or of any obligations of any Obligor or other person under, any Finance Document or any other document or security; or 3.2.6 the death, liquidation, administration, insolvency, amalgamation, reorganisation or dissolution, or any change in the constitution, name or style, of any Obligor, any Bank or any other person.

  • Building Security Landlord may restrict access to and from the Premises and the Building outside of the ordinary business hours of the Building. Landlord may require identification of persons entering and leaving the Building during this period and, for this purpose, may issue Building passes to tenants of the Building.

  • Holding Securities The Custodian shall identify on its books as belonging to the Portfolios the foreign securities held by each Foreign Sub-Custodian or Foreign Securities System. The Custodian may hold foreign securities for all of its customers, including the Portfolios, with any Foreign Sub-Custodian in an account that is identified as belonging to the Custodian for the benefit of its customers, provided however, that (i) the records of the Custodian with respect to foreign securities of the Portfolios which are maintained in such account shall identify those securities as belonging to the Portfolios and (ii), to the extent permitted and customary in the market in which the account is maintained, the Custodian shall require that securities so held by the Foreign Sub-Custodian be held separately from any assets of such Foreign Sub-Custodian or of other customers of such Foreign Sub-Custodian.

  • Tender Security 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Security, as specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified in the TDS. 18.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 If a Tender Security is specified pursuant to ITT 18.1, the Tender Security shall be a demand guarantee in any of the following forms at the Tenderer option: i) cash; ii) a bank guarantee; iii) a guarantee by an insurance company registered and licensed by the Insurance Regulatory Authority listed by the Authority; or

  • Continuing Security Interest; Termination (a) Except as provided in Section 25(b), this Agreement shall create a continuing security interest in the Collateral and shall (i) remain in full force and effect until the later of the payment or satisfaction in full of the Guaranteed Obligations (other than contingent indemnity obligations) and the termination of each of the Guarantees, (ii) be binding upon the Grantor, its successors and assigns and (iii) except to the extent that the rights of any transferor or assignor are limited by the terms of each of the Guarantees, inure, together with the rights and remedies of the Agent hereunder, to the benefit of the Agent and any of the Holders of Guaranteed Obligations. Nothing set forth herein or in any other Loan Document is intended or shall be construed to give any other Person any right, remedy or claim under, to or in respect of this Agreement or any other Loan Document or any Collateral. The Grantor's successors and assigns shall include, without limitation, a receiver, trustee or debtor-in-possession thereof or therefor. (b) The security interest granted hereby shall terminate and all rights to the Collateral shall revert to the Grantor on the earlier of the date on which (i) the Agent shall have received from each Holder of Guaranteed Obligations written notice that all "Obligations" (as defined in the Collateral Sharing Agreement) owing to such Holder of Guaranteed Obligations have been paid in full or (ii) the Agent shall have received written notice from the Holders of Guaranteed Obligations directing the Agent to release the Collateral and stating that the Holders of Guaranteed Obligations have consented to such release under the terms of the Credit Agreements, the Note Agreements and the Guarantees provided, that no such termination shall occur prior to the payment in full of all of the Agent's "Expenses" (as defined in the Collateral Sharing Agreement). Upon the termination of the security interest, the Grantor shall be entitled to the prompt return, upon its request and at its expense, of such of the Collateral held by the Agent as shall not have been sold or otherwise applied pursuant to the terms hereof and the Agent will, at the Grantor's expense, promptly execute and deliver to the Grantor such other documents as the Grantor shall reasonably request to evidence such termination. In connection with any sales of assets permitted under the Credit Agreements and the Note Agreements, the Agent will promptly release and terminate the liens and security interests granted under this Agreement with respect to such assets.