Security. To the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time provide security to Indemnitee for the Companys obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written consent of the Indemnitee.
Upon execution and delivery, the mortgages, deeds of trust or deeds to secure debt (each, a Mortgage and collectively, the Mortgages) will be effective to grant a legal, valid and enforceable mortgage lien or security title on all of the mortgagors right, title and interest in the real property included in the Collateral (each, a Mortgaged Property and, collectively, the Mortgaged Properties). When the Mortgages are duly recorded in the proper recorders offices or appropriate public records and the mortgage recording fees and taxes in respect thereof are paid and compliance is otherwise had with the formal requirements of state or provincial law, applicable to the recording of real estate mortgages generally, each such Mortgage shall constitute a validly perfected and enforceable second priority lien or security title and security interest in the related Mortgaged Property for the benefit of the Administrative Agent, subject only to the encumbrances and exceptions to title expressly permitted in the Mortgages (including those liens under the North American ABL Facility and the other liens expressly permitted to be incurred or exist on the Collateral pursuant to this Agreement) or expressly set forth as an exception to the policies of title insurance obtained to insure the lien of each Mortgage with respect to each of the Mortgaged Properties (such encumbrances and exceptions, the Permitted Exceptions), and to the Enforceability Exceptions.
Security. NO SECURITY OF ANY KIND FROM ANY SOURCE CAN BE USED UNDER ANY CIRCUMSTANCES AS PAYMENT ON THIS NOTE, ACCRUED INTEREST ON THIS NOTE, OR ANY OTHER EXPENSE GENERATED.
“Guarantee Assumption Agreement” means a Guarantee Assumption Agreement substantially in the form of [Exhibit B] to the Guarantee and Security Agreement (or such other form as shall be reasonably satisfactory to the Issuing Bank) between the Issuing Bank and an entity that pursuant to [Section 5.08(a)] is required to become a “Subsidiary Guarantor” under the Guarantee and Security Agreement (with such changes as the Issuing Bank shall request consistent with the requirements of Section 5.08).
“Security Documents”: the collective reference to # the Guarantee and Collateral Agreement,
“Guarantee and Security Agreement” means that certain Guarantee and Security Agreement dated as of the Effective Date among the Borrower, the Subsidiary Guarantors, the Administrative Agent, each holder (or a representative or trustee therefor) from time to time of any Designated Indebtedness, and the Collateral Agent.
“Control Agreement” has the meaning assigned to such term in the Guarantee and Security Agreement.
“Security Document” means each of # the Guarantee and Collateral Agreement, # the IP Security Agreements, # the Foreign Pledge Agreements and # the Foreign Pledge Agreement Acknowledgment and Confirmation.
“Full Security Period” shall have the meaning specified in the Guarantee and Collateral Agreement.
"Canadian Security Documents" shall mean # the Canadian Security Agreement executed by Castle Canada in favor of the [[Organization B:Organization]], dated as of the Closing Date, # the Canadian Guarantee executed by Castle Canada in favor of the [[Organization B:Organization]], dated as of the Closing Date, and # any other security or guarantee agreements executed by the Canadian Loan Parties as Guarantors hereunder, each as modified, amended, restated, or supplemented from time to time.
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