Common use of All Loans One Obligation Clause in Contracts

All Loans One Obligation. All Liabilities of the Borrowers under this Agreement and each of the Financing Agreements are cross-collateralized and cross-defaulted. Payment of all sums and indebtedness to be paid by Borrower to Lender under this Agreement shall be secured by, among other things, the Financing Agreements. All loans or advances made to Borrower under this Agreement shall constitute one Loan, and all of Borrower’s Liabilities and other liabilities of Borrower to Lender shall constitute one general obligation secured by Lender’s Lien on all of the Collateral of Borrower and by all other liens heretofore, now, or at any time or times granted to Lender to secure the Loans. Borrower agrees that all of the rights of Lender set forth in this Agreement shall apply to any amendment, restatement or modification of, or supplement to, this Agreement, any supplements or exhibits hereto and the Financing Agreements, unless otherwise agreed in writing by the Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Advocat Inc), Loan and Security Agreement (Advocat Inc)

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All Loans One Obligation. All Liabilities of the Borrowers Borrower under this Agreement and each of the Financing Agreements Agreements, are cross-collateralized and cross-defaulted. Payment of all sums and indebtedness to be paid by Borrower to Lender under this Agreement shall be secured by, among other things, the Financing Agreements. All loans or advances made to Borrower under this Agreement shall constitute one Loan, and all of Borrower’s Liabilities and other liabilities of Borrower to Lender shall constitute one general obligation secured by Lender’s Lien on all of the Collateral of Borrower and by all other liens heretoforeheretofor, now, or at any time or times granted to Lender to secure the LoansTerm Loan and other Liabilities. Borrower agrees that all of the rights of Lender set forth in this Agreement shall apply to any amendment, restatement or modification of, or supplement to, this Agreement, any supplements or exhibits hereto and the Financing Agreements, unless otherwise agreed in writing by the Lender.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Diversicare Healthcare Services, Inc.)

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All Loans One Obligation. All Liabilities of the Borrowers Borrower under this Agreement and each of the Financing Agreements Agreements, are cross-collateralized and cross-defaulted. Payment of all sums and indebtedness to be paid by Borrower to Lender under this Agreement shall be secured by, among other things, the Financing Agreements. All loans or advances made to Borrower under this Agreement shall constitute one Loan, and all of Borrower’s Liabilities and other liabilities of Borrower to Lender shall constitute one general obligation secured by Lender’s Lien on all of the Collateral of Borrower and by all other liens heretoforeheretofor, now, or at any time or times granted to Lender to secure the LoansLoan and other Liabilities. Borrower agrees that all of the rights of Lender set forth in this Agreement shall apply to any amendment, restatement or modification of, or supplement to, this Agreement, any supplements or exhibits hereto and the Financing Agreements, unless otherwise agreed in writing by the Lender.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Diversicare Healthcare Services, Inc.)

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