Existing Security Interest definition

Existing Security Interest is defined in the first recital.
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Existing Security Interest means any Security Interest created to secure any Existing Indebtedness;
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Existing Security Interest means the security interest of the Collateral Agent for the benefit of the holders of the Secured Notes and each Additional Creditor (as defined in the Existing Intercreditor Agreements) in the Existing Collateral pursuant to the terms of the Existing Collateral Documents.
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Examples of Existing Security Interest in a sentence

  • Upon Pledgor’s request, Lenders shall promptly redeliver to Pledgor any of the collateral encumbered by the Existing Security Interest in possession of the Lenders and Lenders shall execute and deliver to Pledgor such documents, instruments and discharges reasonably requested by Pledgor as shall be necessary to evidence termination and discharge of the Existing Security Interest.

  • Except for the Existing Security Interest, the security interest granted hereby and the security interests in certain Collateral as set forth on Schedule D, Debtor is the owner of the Collateral free from all encumbrances and will defend the Collateral against the claims and demands of all persons other than persons holding the liens and security interests described on Schedule D.

  • We express no opinion as to the Existing Security Interest or the priority of any liens or security interests except as exclusively provided herein.

  • This agreement shall not have the effect of a novation with respect to the Existing Security Interest, which shall be deemed to be continuing under this Agreement.

  • The Debtor warrants that no financing statement covering Collateral or any part or proceeds thereof is presently on file in any public office, except for financing statements with respect to the Existing Security Interest.

  • In particular, the Existing Security Interest shall exclusively secure the Swissco Obligations as per the date hereof (in lieu of securing the Secured Obligations (as defined in the Existing Swiss Security Agreement)).


More Definitions of Existing Security Interest

Existing Security Interest means any Security Interest existing at the Completion Date and which will remain outstanding after the Completion Date provided that such Security Interest shall be released to the satisfaction of the Facility Agent (acting reasonably) no later than 180 days after the Completion Date (or such later date as the Facility Agent and Bidco shall agree);
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Existing Security Interest means any Financial Security existing on the credits, incomes or rights of the Borrower and the Subsidiary companies as well as the guarantees, downstreams and guarantees granted by those at the Signature Date, as described by Appendix 4 hereafter.
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Existing Security Interest means each Security Interest existing at the date of this Agreement, the details of which are set out in Schedule 8;
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Existing Security Interest means a Security Interest created in favour Existing Secured Creditors particulars whereof are given in Schedule 7.
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Existing Security Interest means a Security Interest created in favour Existing Secured Creditors particulars whereof are given in Schedule 7. "EXISTING SECURED INDEBTEDNESS" means the existing Indebtedness, repayment and payment of which is secured by hypothecation and/or mortgage on a pari passu basis on the properties, details whereof are given in Schedule 7 hereto. "FACILITY" means Facility A or Facility B, as the context may require; "FACILITY A" means a rupee term loan facility upto an aggregate amount of Rs. 225 crores to be made available under this Agreement as described in Clause 2.1.1 ("Facility A"). "FACILITY B" means a rupee term loan facility upto an aggregate amount of Rs. 475 crores to be made available under this Agreement as described in Clause 2.1.2 ("Facility B") "FACILITY OFFICE" means the office or offices notified by a Lender to the Agent and Security Trustee in writing on or before the date it becomes a Lender (or, following that date, by not less than five Business Days' written notice) as the office or offices through which it will perform its obligations under this Agreement. "FEE LETTER" means any letter or letters dated on or about the date of this Agreement between the Arranger and the Borrower (or the Agent and Security Trustee and the Borrower) setting out any of the fees. "FINANCE DOCUMENT" means this Agreement, a Security Document, any Fee Letter, Transfer Certificate, any resignation letter and any other document designated as such by the Agent and Security Trustee, a Lender and the Borrower. "FINANCE PARTY" means the Agent and Security Trustee, the Arranger or a Lender, as the context may require. 4 <PAGE> "FINANCIAL INDEBTEDNESS" means any indebtedness of the Borrower for or in respect of: (a) Moneys borrowed; (b) Any amount raised by acceptance under any acceptance credit facility; (c) Any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument; (d) The amount of any liability in respect of any lease or hire purchase contract which would, in accordance with GAAP, be treated as a finance or capital lease; (e) Receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis); (f) Any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing; (g) Any derivative transaction entered into in connection with protection against or benefit from fluctuation ...
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Existing Security Interest shall continue as a security interest hereunder, as amended hereby, and (iii) this Security Agreement is given as a substitution of, and not as a payment of the indebtedness, liabilities and obligations of the Grantor under the Original Security Agreements and neither the execution and delivery of this Security Agreement nor the consummation of any other transaction contemplated hereunder is intended to constitute a novation of the Original Security Agreements or the Existing Security Interest created thereunder.
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Related to Existing Security Interest

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

  • Existing Security Agreement shall have the meaning set forth in the recitals.

  • Existing Security means any Security granted by any Person over its Assets in respect of any Relevant Indebtedness and which is existing at the relevant Issue Date or at the time any such Person becomes a Material Subsidiary or whose business and/or activities, in whole or in part, are assumed by or vested in the Issuer or a Material Subsidiary after the relevant Issue Date (other than any Security created in contemplation thereof) or any substitute Security created over those Assets (or any part thereof) in connection with the refinancing of the Relevant Indebtedness secured on those Assets provided that the principal, nominal or capital amount secured on any such Security may not be increased;

  • Permitted Security Interest means any Security Interest:

  • Prior Security Interest means a valid and enforceable perfected first-priority security interest under the Uniform Commercial Code in the Collateral which is subject only to statutory Liens for taxes not yet due and payable or Purchase Money Security Interests.