Cross-collateralization definition

Cross-collateralization means the pledging of the security of one Development to the obligations of another Development.
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Cross-collateralization has the meaning set forth in Section 1.2 of this Agreement.
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Cross-collateralization. Property given as security under this Plan or for any other loan Borrower has with the credit union will secure all amounts Borrower owes the credit union now and in the future. However, property securing another debt will not secure advances under the Plan if such property is Borrower’s principal residence (unless the proper rescission notices are given and any other legal requirements are satisfied), or are non-purchase money household goods. Transfer of Collateral
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More Definitions of Cross-collateralization

Cross-collateralization means the consummation, upon terms and conditions satisfactory to Lender in its sole discretion, pursuant to that certain Commitment of Lender dated January 28, 1997, in favor of the SPE Equity Owner of a secured loan transaction (the "Puen▇▇ ▇▇▇ls Loan") between Lender, as lender, and a Single-Purpose Entity (the "Puen▇▇ ▇▇▇ls Entity") which is or becomes the fee owner of The Plaza at Puen▇▇ ▇▇▇ls, located in the City of Industry, California, subject to satisfaction of each and all of the following terms and conditions on or prior to February 28, 1997: (i) the Puen▇▇ ▇▇▇ls Loan shall be in an amount not less than $33,100,000.00 and shall have the same Optional Prepayment Date and Maturity Date, respectively, as are applicable to the Loan; (ii) Borrower shall execute a guaranty of the repayment in full of the Puen▇▇ ▇▇▇ls Loan in form and substance satisfactory to Lender in its sole discretion (the "Guaranty"); (iii) the Mortgage and, if required by Lender, the other Loan Documents shall be amended to provide that the Guaranty is secured by the Mortgage, such amendments to be in form and substance satisfactory to Lender in its sole discretion; (iv) Lender shall receive endorsements to the Title Insurance Policy satisfactory to Lender in its sole discretion confirming the priority of the lien of the Mortgage upon consummation of the conditions described herein and, if it so requests, reinsurance of liability under the Title Insurance Policy and the title insurance policy insuring the mortgage executed by the Puen▇▇ ▇▇▇ls Entity; (v) there shall be no Default or Event of Default under any of the Loan Documents; (vi) Lender shall have received an opinion of counsel satisfactory to Lender in its sole discretion that the Guaranty and the Loan Documents, as amended, have been duly authorized, executed and delivered by Borrower and constitute the legal, valid and binding obligation of Borrower enforceable against Borrower in accordance with its terms; (vii) Lender shall have received a substantive non-consolidation opinion satisfactory to Lender in its sole discretion that Borrower and the Puen▇▇ ▇▇▇ls Entity taken together would not be consolidated with any other entity in a
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Cross-collateralization. Any royalty payment for Licensed Product sold shall only be applied against the Minimum Guarantee for the Contract Year in which such Licensed Product was sold (i.e., any shortfall in, or payment in excess of, the Minimum Guarantee for a Contract Year may not be offset or credited against the Minimum Guarantees for any other Contract Year or against any other NBA license (including premium license agreements entered into pursuant to Paragraph 5 hereof) held by LICENSEE).
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Cross-collateralization means collateral for one loan also serving as collateral for other loans.
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Cross-collateralization means collateral for one loan also serving as collateral for another loan.
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Related to Cross-collateralization

  • Cash Collateralization has a correlative meaning.

  • Cross-Collateralized Group Any group of Mortgage Loans that are cross-collateralized and cross-defaulted with each other; provided that a Mortgage Loan shall be part of a Cross-Collateralized Group only if and for so long as such Mortgage Loan is cross-collateralized and cross-defaulted with each other Mortgage Loan in such Cross-Collateralized Group. There are no Cross-Collateralized Groups included as assets of the Trust as of the Closing Date.

  • Bank Product Collateralization means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations (other than Hedge Obligations).

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Cross-Collateralized Mortgage Loan Any Mortgage Loan, that is, by its terms, cross-defaulted and cross-collateralized with any other Mortgage Loan; provided that the Mortgage Loans that are part of any Loan Combination shall not constitute Cross-Collateralized Mortgage Loans.