Bank Collateral. The term "BANK COLLATERAL" means the personal property of the Obligors described in Schedule A and any other real or personal property of any of the Obligors in which the Bank or an Affiliate may hereafter be granted a security interest, mortgage interest or other similar interest.
Bank Collateral. As used in this Agreement, “Bank Collateral” means the following: all of Borrower’s present and future “Accounts” (such term as most broadly defined in the Bank Loan Agreement and the California Uniform Commercial Code in effect on the date hereof); and all proceeds of the foregoing.
Bank Collateral. Clause (c) of Section 2.1 (Bank Collateral) of the Pledge and Security Agreement is hereby deleted in its entirety and replaced with the following:
Bank Collateral. As used in this Agreement, “Bank Collateral” means all of Debtor’s personal property, excluding the Creditor Collateral, provided however, notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying Intellectual Property is necessary to have a security interest in the accounts and rights to payment generated in whole or in part from the Intellectual Property (the “Rights to Payment”), then the Bank Collateral shall automatically, and effective as of the date hereof, include the Intellectual Property to the extent necessary to permit perfection of Bank’s security interest in the Rights to Payment, it being understood that the Bank’s security interest in the Intellectual Property shall be subject and subordinate to the Creditor’s security interest therein.
Bank Collateral. As used in this Agreement 1110h Collateral means the following: all assets of Borrower set forth on Exhibit "B" hereto, excluding, however, the Leased Equipment.
Bank Collateral. If the Bank Collateral is cash, the Pledgor shall take all necessary actions to provide the Secured Party with control of such Bank Collateral within the meaning of Section 9-104 of the UCC promptly upon providing such Bank Collateral. In addition, the Pledgor may at any time in its discretion, replace the Pledged Note in its entirety with Bank Collateral provided that the Collateralization Amount shall be equal to or greater than the Required Collateral Value. Once the Secured Party is provided with Bank Collateral pursuant to the preceding sentence, the Secured Party’s security interest in the Pledged Note will automatically terminate without any further action required on the part of the Secured Party.
Bank Collateral. As used in this Agreement, "Bank Collateral" means all of Borrower's present and future accounts, general intangibles, inventory, equipment and other assets of every kind, including without limitation all present and future property described on Exhibit "A" hereto (except for the "Other Collateral" as defined below).
Bank Collateral. Subordination by Creditor. Creditor covenants and agrees that until all of the Bank Obligations are fully paid and satisfied, Creditor shall not accept or acquire any security interests or liens in any of the Bank Collateral, other than the Specified Collateral. Creditor further agrees that in the event Creditor now holds or hereafter acquires any security interests or liens in or on any of the Bank Collateral, other than the Specified Collateral, in violation of the foregoing covenant, the purported security interests and liens of Creditor in all events shall be subject to the Subordination Agreement. Notwithstanding anything to the contrary in the Subordination Agreement, in the event Borrower fails to make payment when due for any monthly purchase of SerVaas Scrap Butyl as provided in the Supply Agreement, such failure continues uncured for a period of thirty (30) days, and Creditor has given to the Bank not fewer than fifteen (15) days' prior written notice of its intent to exercise the remedies permitted under this paragraph 3, then Creditor shall be entitled to take possession of. remove, and sell the Specified Inventory in a commercially reasonable manner, and to apply the proceeds of such sale to the Creditor Obligations. Any Creditor Obligations that remain unpaid after application of such sale proceeds shall constitute Subordinated Debt subject in all respects to the Subordination Agreement. Any proceeds of such sale in excess of the Creditor Obligations shall be deemed a Prohibited Payment under the Subordination Agreement, and shall be immediately remitted to the Bank pursuant to Section 2 of the Subordination Agreement. In the event that Creditor exercises its rights under this paragraph 3, the Bank agrees and hereby consents (to the extent that such agreement or consent is or should become necessary) that the Specified Inventory may remain at Borrower's premises, free of charge, for a commercially reasonable time provided that Creditor is diligent in making arrangements for its sale or use in Borrower's operations. In the event that Bank accelerates Borrower's obligations under the Credit Agreement, and elects to realize upon its security interest in Scrap Butyl Inventory, Bank and Creditor will use reasonable efforts to cooperate in the liquidation of the Scrap Butyl Inventory.
Bank Collateral. Agent shall have a first priority lien, security interest, encumbrance and claim in the Bank Collateral to secure the Bank Debt with the exception of the IDED Collateral. IDED shall have a second priority lien, security interest, encumbrance and claim to the Bank Collateral to secure the IDED Loan.
Bank Collateral. Bank shall have a first and prior security interest in all of the Collateral Assets, other than the Republic Collateral (the "Bank Collateral"). Republic shall have a second and subordinate security interest in the Bank Collateral.
