GRANT OF THE SECURITY INTEREST Sample Clauses

GRANT OF THE SECURITY INTEREST. As security for the payment and performance of all of the Obligations, the Borrower hereby pledges to Lakes and grants a continuing first perfected security interest to Lakes, for and on behalf of Lakes itself and its Affiliates, subject only to Permitted Liens, of all of the Borrower's right, title and interest in and to the Collateral. The Borrower represents and warrants that the Borrower is (or, to the extent that the Collateral is acquired after the date hereof, will be) the sole legal and beneficial owner of its respective Collateral and has exclusive possession and control thereof; there are no security interests in, liens, charges or encumbrances on, or adverse claims of title to, or any other interest whatsoever in, such Collateral or any portion thereof except for Permitted Liens; and that no financing statement, notice of lien, mortgage, deed of trust or instrument similar in effect covering the Collateral or any portion thereof or any proceeds thereof ("LIEN NOTICE") exists or is on file in any public office, except as relates to Permitted Liens and except as may have been filed in favor of Lakes relating to this Agreement or related agreements, or for which duly executed termination statements have been delivered to Lakes for filing. Without the prior written consent of Lakes, Borrower will not in any way encumber, or hypothecate, or create or permit to exist, any lien, security interest, charge or encumbrance or adverse claim upon or other interest in the Collateral, except for Permitted Liens, and the Borrower will defend the Collateral against all claims and demands of all persons at any time claiming the same or any interest therein, except as expressly provided herein. The Borrower will not permit any Lien Notices to exist or be on file in any public office with respect to all or any portion of the Collateral except, in each case, for Lien Notices of holders of Permitted Liens or encumbrances permitted by the Consulting Contract or any other Transaction Document or except as may have been filed by or for the benefit of Lakes relating to this Security Agreement or related agreements. The Borrower shall promptly notify Lakes of any attachment or other legal process levied against any of the Collateral and any information received by any Borrower relative to the Collateral, which may in any material way affect the value of the Collateral or the rights and remedies of Lakes in respect thereto. If Borrower shall become entitled to receive or s...
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GRANT OF THE SECURITY INTEREST. As security for the payment and performance of all of the Obligations, the Borrower hereby pledges to Lakes and grants a continuing first perfected security interest to Lakes, for and on behalf of Lakes itself and its Affiliates, subject only to Permitted Liens, of all of the Borrower's right, title and interest in and
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GRANT OF THE SECURITY INTEREST. (a) Grantor hereby grants to and creates in favor of Trustee a continuing security interest and lien under the UCC and all other applicable laws in and to all of Grantor’s right, title and interest in and to the Collateral as security for the full and timely payment, observance and performance of the Secured Obligations in accordance with the terms thereof.
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GRANT OF THE SECURITY INTEREST. () As collateral security for the prompt and complete payment of principal of and interest on the Loan and all other amounts owing the Administrator and the Lenders hereunder and under the Loan Note and the other Transaction Documents (the "Secured Obligations") and for the prompt and complete performance when due of all the Borrower's obligations to the Administrator and the Lenders under this Agreement and the other Transaction Documents and in order to induce the Administrator and the Lenders to enter into this Agreement and make the Loan in accordance with the terms hereof, the Borrower hereby assigns, pledges and grants to the Administrator, for the benefit of the Lenders, a security interest in all rights, title and interest of the Borrower, whether now existing or hereafter acquired or arising, in and to the Collateral and all proceeds thereof.
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GRANT OF THE SECURITY INTEREST. 2.1. As collateral security for the full and timely payment, observance and performance of the Secured Obligations, each Grantor hereby assigns and transfers unto the Lender, and hereby pledges and grants to the Lender, a continuing security interest in and to and a Lien upon all of such Grantor's right, title and interest in the following property and interests in property, whether now owned by such Grantor or hereafter acquired, whether now existing or hereafter coming into existence and wherever located (all being collectively referred to herein as the "Collateral"): ----------
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GRANT OF THE SECURITY INTEREST. As security for the payment and performance of all of the Obligations, the Borrower hereby pledges to Great Lakes and grants a continuing security interest to Great Lakes all of the Borrower's right, title and interest in and to the Collateral. Such security interest shall be subordinated as and when required by and in accordance with Sections 9.2.1(d) and (j) of the Development Agreement, and Great Lakes agrees to execute and deliver subordination agreements reasonably acceptable to the senior parties described in those subsections of the Development Agreement. The grant of a security interest in the Collateral as security for the Minimum Payments Note does not alter the limitations on Great Lakes' limited right to recoup Minimum Guaranteed Payment Advances as provided in such Note and in Section 5.6.2 of the Management Agreement, and Great Lakes shall only be entitled to payment on such Note from Collateral to the extent that it is entitled to receive such recoupment under the Note and Section 5.6.2 but does not receive such recoupment.
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GRANT OF THE SECURITY INTEREST 
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Related to GRANT OF THE SECURITY INTEREST

  • Grant of a Security Interest It is the express intent of the parties hereto that the conveyance of the Mortgage Loans by the Seller to the Purchaser as provided in Section 2 hereof be, and be construed as, a sale of the Mortgage Loans by the Seller to the Purchaser and not as a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller. However, if, notwithstanding the aforementioned intent of the parties, the Mortgage Loans are held to be property of the Seller, then, (a) it is the express intent of the parties that such conveyance be deemed a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller, and (b) (i) this Agreement shall also be deemed to be a security agreement within the meaning of Article 9 of the Uniform Commercial Code of the applicable jurisdiction; (ii) the conveyance provided for in Section 2 hereof shall be deemed to be a grant by the Seller to the Purchaser of a security interest in all of the Seller's right, title and interest in and to the Mortgage Loans, and all amounts payable to the holder of the Mortgage Loans in accordance with the terms thereof, and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, including, without limitation, all amounts, other than investment earnings, from time to time held or invested in the Certificate Account, the Distribution Account or, if established, the REO Account (each as defined in the Pooling and Servicing Agreement) whether in the form of cash, instruments, securities or other property; (iii) the assignment to the Trustee of the interest of the Purchaser as contemplated by Section 1 hereof shall be deemed to be an assignment of any security interest created hereunder; (iv) the possession by the Trustee or any of its agents, including, without limitation, the Custodian, of the Mortgage Notes, and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be possession by the secured party for purposes of perfecting the security interest pursuant to Section 9-313 of the Uniform Commercial Code of the applicable jurisdiction; and (v) notifications to persons (other than the Trustee) holding such property, and acknowledgments, receipts or confirmations from persons (other than the Trustee) holding such property, shall be deemed notifications to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the secured party for the purpose of perfecting such security interest under applicable law. The Seller and the Purchaser shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement and the Pooling and Servicing Agreement.

  • The Security Interests In order to secure the full and punctual observance and performance of the covenants and agreements contained herein and in the Securities Contract:

  • Grant of General Security Interest in Collateral 3.1 As security for the Obligations of Debtor, Debtor hereby grants the Collateral Agent, for the benefit of the Lenders, a security interest in the Collateral.

  • Rights of the Secured Party The Debtor agrees that the Secured --------------------------- Party may at any time, whether before or after the occurrence of an Event of Default and without notice or demand of any kind, (i) notify the obligor on or issuer of any Collateral to make payment to the Secured Party of any amounts due or distributable thereon; (ii) in the Debtor's name or the Secured Party's name enforce collection of any Collateral by suit or otherwise, or surrender, release or exchange all or any part of it, or compromise, extend or renew for any period any obligation evidenced by the Collateral; (iii) receive all proceeds of the Collateral; and (iv) hold any increase or profits received from the Collateral as additional security for the Obligations, except that any money received from the Collateral shall, at the Secured Party's option, be applied in reduction of the Obligations, in such order of application as the Secured Party may determine, or be remitted to the Debtor.

  • Security Interest This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Issuer, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller.

  • Grant of Security Interest in the Collateral To secure the prompt payment and performance in full when due, whether by lapse of time, acceleration, mandatory prepayment or otherwise, of the Secured Obligations, each Grantor hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in, and a right to set off against, any and all right, title and interest of such Grantor in and to all of the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the “Collateral”):

  • Grant of Security Interest in Trademark Collateral Each Pledgor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor:

  • Security Interest in the Collateral To secure the prompt payment and performance to Agent and each Lender of the Obligations, each Borrower hereby assigns, pledges and grants to Agent for its benefit and for the ratable benefit of each Lender a continuing security interest in and to and Lien on all of its Collateral, whether now owned or existing or hereafter acquired or arising and wheresoever located. Each Borrower shall xxxx its books and records as may be necessary or appropriate to evidence, protect and perfect Agent’s security interest and shall cause its financial statements to reflect such security interest. Each Borrower shall promptly provide Agent with written notice of all commercial tort claims, such notice to contain the case title together with the applicable court and a brief description of the claim(s). Upon delivery of each such notice, such Borrower shall be deemed to hereby grant to Agent a security interest and lien in and to such commercial tort claims and all proceeds thereof.

  • Grant of Security Interest in Collateral As an inducement for the Secured Parties to extend the loans as evidenced by the Debentures and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the Obligations, each Debtor hereby unconditionally and irrevocably pledges, grants and hypothecates to the Secured Parties a security interest in and to, a lien upon and a right of set-off against all of their respective right, title and interest of whatsoever kind and nature in and to, the Collateral (a “Security Interest” and, collectively, the “Security Interests”).

  • Grant of Security Interest in Copyright Collateral Each Pledgor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor:

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