Common use of AMOUNT AND TERMS OF LOANS; GRANT OF SECURITY INTEREST Clause in Contracts

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.

Appears in 2 contracts

Samples: Loan and Security Agreement (Megatest Corp), Loan and Security Agreement (Teradyne Inc)

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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 up to the amount described in paragraph 2 of Rider A. Each Loan shall be evidenced by be Debtor's Note, which Note shall set forth the repayment terms and the applicable Interest Rate for such Loan. AS 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 Collateral. No lien securing the Obligations shall be released or deemed released unless and interest in, to until all Obligations are finally paid and under the Collateraldischarged.

Appears in 1 contract

Samples: Loan and Security Agreement (Cnet Inc /De)

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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 amounts 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 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.

Appears in 1 contract

Samples: Loan and Security Agreement (Lexington Precision Corp)

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