Common use of Additional Collateral Clause in Contracts

Additional Collateral. The Borrower shall deliver to the Bank immediately upon its demand, such other collateral as the Bank may from time to time request, should the value of the Collateral, in the Bank’s sole and absolute discretion, decline, deteriorate, depreciate or become impaired, and does hereby grant to the Bank a continuing security interest in such other collateral, which, when pledged, assigned and transferred to the Bank shall be and become part of the Collateral. The Bank’s security interests in all of the foregoing Collateral shall be valid, complete and perfected whether or not covered by a specific assignment.

Appears in 9 contracts

Samples: Loan and Security Agreement (Primoris Services CORP), Loan and Security Agreement (Primoris Services CORP), Loan and Security Agreement (Primoris Services CORP)

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Additional Collateral. The Borrower shall deliver to the Bank immediately upon its demand, such other collateral as the Bank may from time to time request, should the value of the Collateral, in the Bank’s sole and absolute discretion, decline, deteriorate, depreciate or become impaired, and does hereby grant to the Bank a continuing security interest in such other collateral, which, when pledged, assigned and transferred to the Bank shall be and become part of the Collateral. The Bank’s security interests in all each of the foregoing Collateral shall be valid, complete and perfected whether or not covered by a specific assignment.

Appears in 4 contracts

Samples: Loan and Security Agreement (Banyan Rail Services Inc.), Loan and Security Agreement (Huron Consulting Group Inc.), Loan and Security Agreement (Bhit Inc)

Additional Collateral. The Borrower shall deliver to the Bank immediately upon its demand, following the occurrence of an Event of Default, such other collateral as the Bank may from time to time request, should the value of the Collateral, in the Bank’s 's sole and absolute discretion, decline, deteriorate, depreciate or become impaired, and does hereby grant to the Bank a continuing security interest in such other collateral, which, when pledged, assigned and transferred to the Bank shall be and become part of the Collateral. The Bank’s 's security interests in all each of the foregoing Collateral shall be valid, complete and perfected whether or not covered by a specific assignment.

Appears in 3 contracts

Samples: Loan and Security Agreement (Arlington Hospitality Inc), Loan and Security Agreement (Arlington Hospitality Inc), Loan and Security Agreement (Arlington Hospitality Inc)

Additional Collateral. The Borrower shall deliver to the Bank immediately upon its demand, such other collateral as the Bank may from time to time request, should the value of the Collateral, in the Bank’s sole and absolute reasonable discretion, decline, deteriorate, depreciate or become impaired, and does hereby grant to the Bank a continuing security interest in such other collateral, which, when pledged, assigned and transferred to the Bank shall be and become part of the Collateral. The Bank’s security interests in all of the foregoing Collateral shall be valid, complete and perfected whether or not covered by a specific assignment.

Appears in 2 contracts

Samples: Loan and Security Agreement (Argyle Security, Inc.), Loan and Security Agreement (Argyle Security, Inc.)

Additional Collateral. The Borrower Borrowers shall deliver to the Bank immediately upon its demand, such other collateral as the Bank may from time to time request, should the value of the Collateral, in the Bank’s sole and absolute discretion, decline, deteriorate, depreciate or become impaired, and does hereby grant to the Bank a continuing security interest in such other collateral, which, when pledged, assigned and transferred to the Bank shall be and become part of the Collateral. The Bank’s security interests in all of the foregoing Collateral shall be valid, complete and perfected whether or not covered by a specific assignment.

Appears in 1 contract

Samples: Loan and Security Agreement (Lifeway Foods Inc)

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Additional Collateral. The Borrower Borrowers shall deliver to the Bank immediately upon its demand, such other collateral as the Bank may from time to time request, should the value of the Collateral, in the Bank’s sole and absolute discretion, decline, deteriorate, depreciate or become impaired, and does hereby grant to the Bank a continuing security interest in such other collateral, which, when pledged, assigned and transferred to the Bank shall be and become part of the Collateral. The Bank’s security interests in all each of the foregoing Collateral shall be valid, complete and perfected whether or not covered by a specific assignment.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Axcess Corp)

Additional Collateral. The Borrower shall deliver to the Bank immediately upon its demand, such other collateral as the Bank may from time to time request, should the value of the Collateral, in the Bank’s 's sole and absolute discretion, materially decline, deteriorate, depreciate or become impaired, and does hereby grant to the Bank a continuing security interest in such other collateral, which, when pledged, assigned and transferred to the Bank shall be and become part of the Collateral. The Bank’s 's security interests in all each of the foregoing Collateral shall be valid, complete and perfected whether or not covered by a specific assignment.

Appears in 1 contract

Samples: Loan and Security Agreement (Fortune Industries, Inc.)

Additional Collateral. The Borrower shall deliver to the Bank immediately upon its demand, such other collateral as the Bank may from time to time request, should the value of the Collateral, Collateral in the Bank’s 's sole and absolute discretion, decline, deteriorate, depreciate or become impaired, and does hereby grant to the Bank a continuing security interest in such other collateral, collateral which, when pledged, assigned and transferred to the Bank shall be and become part of the Collateral. The Bank’s 's security interests in all each of the foregoing Collateral shall be valid, complete and perfected whether or not covered by a specific assignment.

Appears in 1 contract

Samples: Loan and Security Agreement (First Horizon Pharmaceutical Corp)

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