Acquired Collateral Sample Clauses
The "Acquired Collateral" clause defines what assets or property are considered as collateral that has been obtained or added after the initial agreement is made. This clause typically specifies that any new assets acquired by the borrower, which fall under the scope of the security agreement, automatically become part of the collateral securing the lender’s interest. For example, if a business acquires new equipment or inventory after signing a loan agreement, these assets would also be covered as collateral. The core function of this clause is to ensure that the lender’s security interest extends to future assets, thereby maintaining or increasing the value of the collateral and reducing the lender’s risk.
Acquired Collateral. Except as set forth on Schedule A annexed hereto, the Collateral has been acquired or originated by each Grantor in the ordinary course of such Grantor’s business and was not acquired pursuant to any acquisition of all or a portion of the business of any Person whether by merger, acquisition of assets or otherwise.
Acquired Collateral. Except to the extent that the Applicable Requirements or any applicable Appendices provide otherwise, the following provisions shall apply to the management and disposition of Acquired Collateral:
(a) The deed, title, or certificate or ▇▇▇▇ of sale to any Acquired Collateral shall be taken in the name of the Owner or an entity designated by Owner.
(b) Subject to Section 2.15 hereof, the Servicer shall segregate and hold all funds collected and received in connection with the operation of any Acquired Collateral separate and apart from its own funds and general assets and shall establish and maintain with respect to Acquired Collateral an account held in trust for the Owner (the “Acquired Collateral Account”), which shall be an Eligible Account. The Servicer shall be permitted to allow the Custodial Account to serve as the Acquired Collateral Account, subject to separate ledgers for each Acquired Collateral. The Servicer shall be entitled to retain or withdraw any interest income paid on funds deposited in the Acquired Collateral Account.
(c) The Servicer shall have full power and authority, subject only to the specific requirements and prohibitions of this Agreement, to do any and all things in connection with any Acquired Collateral as are consistent with the manner in which the Servicer manages and operates similar property owned by the Servicer or any of its Affiliates, all on such terms and for such period as the Servicer deems to be in the best interests of the Owner. Subject to Section 2.15 hereof, in connection therewith, the Servicer shall deposit, or cause to be deposited, in the Acquired Collateral Account all revenues received by it with respect to an Acquired Collateral and shall withdraw therefrom funds necessary for the proper operation, management and maintenance of such Acquired Collateral including, without limitation: (i) all insurance premiums due and payable in respect of such Acquired Collateral; (ii) all taxes and assessments in respect of such Acquired Collateral that may result in the imposition of a lien thereon; and (iii) all costs and expenses necessary to maintain such Acquired Collateral. To the extent that amounts on deposit in the Acquired Collateral Account with respect to an Acquired Collateral are insufficient for the purposes set forth in clauses (i) through (iii) above with respect to such Acquired Collateral, the Servicer shall advance from its own funds such amount as is necessary for such purposes if, but only if, the...
Acquired Collateral. The Collateral has been acquired or originated by Grantor in the course of such Grantor’s business.
Acquired Collateral. Borrowers shall promptly notify Agent in writing if, after the Closing Date, any Obligor obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights, in each case with a nominal value in excess of $100,000 and, upon Agent’s request, shall promptly take such actions as Agent deems appropriate to effect Agent’s duly perfected, first priority (or second priority, to the extent such Property is Senior Notes Priority Collateral) Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Agent’s request, Borrowers shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Agent.
Acquired Collateral. Except as set forth on Schedule A annexed hereto or, with respect to periods after the Closing Date, pursuant to a Permitted Acquisition, the Collateral has been acquired or originated by each Grantor in the ordinary course of such Grantor's business and was not acquired pursuant to any acquisition of all or a portion of the business of any Person whether by merger, acquisition of assets or otherwise.
Acquired Collateral. Except as contemplated in the Asset Purchase Agreement or as disclosed in writing to the Secured Party, the Collateral has been acquired or originated by Grantor in the ordinary course of Grantor’s business and was not acquired pursuant to any acquisition of all or a portion of the business of any Person whether by merger, acquisition of assets or otherwise.