AMOUNT AND TERMS OF LOANS; GRANT OF SECURITY INTEREST. Subject to the terms and conditions hereof, CIT agrees to make Loans to Debtor from time to time, in the amount described in paragraph 2 of Rider A. Each Loan shall be evidenced by Debtor's Note, which Note shall set forth the repayment terms and Interest Rate for such Loan. AS security for the prompt and complete payment and performance when due of all the Obligations and in order to induce CIT to enter into this Agreement and make the Loans and to extend other credit from time to time to Debtor, whether under this Agreement or otherwise, Debtor hereby grants to CIT a first priority security interest in all Debtor's right, title and interest in, to and under the Collateral.
AMOUNT AND TERMS OF LOANS; GRANT OF SECURITY INTEREST. Subject to the terms and conditions hereof, CIT agrees to make Loans to Debtor from time to time, up to the amount described in paragraph 2 of Rider A. Each Loan shall be evidenced be Debtor's Note, which Note shall set forth the repayment terms and the applicable Interest Rate for such Loan. As security for the prompt and complete payment and performance when due of all the Obligations and in order to induce CIT to enter into this Agreement and make the Loans and to extend other credit from time to time to Debtor, whether under this Agreement or otherwise, Debtor hereby grants to CIT a first priority security interest in all Debtor's Collateral. No lien securing the Obligations shall be released or deemed released unless and until all Obligations are finally paid and discharged.
AMOUNT AND TERMS OF LOANS; GRANT OF SECURITY INTEREST. Subject to the terms and conditions hereof, CIT agrees to make Loans to Debtor from time to time, in the amount described in paragraph 2 of Rider A. Each Loan shall be evidenced by Debtor's Note, which Note shall set forth the repayment terms and Interest Rate for such Loan. As security for the prompt and complete payment and performance when due of all the Obligations and in order to induce CIT to enter into this Agreement and make the Loans and to extend other credit from time to time to Debtor, whether under this Agreement or otherwise, Debtor hereby grants to CIT a first priority security interest in all Debtor's right, title and interest in, to and under the Collateral. The Notes and all Obligations shall be equally secured by all Collateral. No lien securing the Obligations or any of them shall be released or deemed released unless and until all Obligations are fully and finally repaid and discharged.
AMOUNT AND TERMS OF LOANS; GRANT OF SECURITY INTEREST. Subject to the terms and conditions of this Agreement and each of the other Credit Documents and otherwise provided that no loan advances need be made by Lender if, at the date of any request for a loan advance hereunder by Borrower, an Event of Default, or event or condition which, with notice, lapse of time or both, would constitute an Event of Default, then exists, Lender will provide the credit facility described in this Section 2 for the account of Borrowers.
AMOUNT AND TERMS OF LOANS; GRANT OF SECURITY INTEREST. Subject to the terms and conditions of the Loan Documents, Lender shall make the loan (the "Loan") to Debtor two Business days following the date Debtor advises that the Equipment is acceptable for delivery. The Loan shall be evidenced by (a) a promissory note (the "Note") in the form of Exhibit A, which shall set forth the amount, repayment terms and interest rate ("Interest Rate") for such Loan and (b) one or more supplements (each a "Supplement"). As security for the prompt and complete payment and performance when due of all the obligations, indebtedness and liabilities of Debtor to Lender, now existing or hereafter incurred under, arising out of, or in connection with, the Loan Documents whether direct or indirect, joint or several, absolute or contingent, liquidated or unliquidated, secured or unsecured, matured or unmatured ("Obligations") and in order to induce Lender to enter into this Agreement and make a Loan to Debtor, under this Agreement, Debtor hereby grants to Lender a first (and only) priority security interest ("Security Interest") which shall be a purchase money security interest, in all Debtor's right, title and interest in, to and under the Collateral.
