Common use of Certain After-Acquired Collateral Clause in Contracts

Certain After-Acquired Collateral. Borrower shall promptly notify Lender in writing if, after the Closing Date, Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's request, shall promptly take such actions as Lender deems appropriate to effect Lender's duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Lender's request, Borrower shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Lapolla Industries Inc), Loan and Security Agreement (Lapolla Industries Inc)

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Certain After-Acquired Collateral. Borrower Obligors shall promptly notify Lender in writing if, after the Closing Date, Borrower any Obligor obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's ’s reasonable request, shall promptly take such actions as Lender deems appropriate to effect Lender's ’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any material Collateral is in the possession of a third party, at Lender's ’s reasonable request, Borrower Obligors shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 2 contracts

Samples: Loan and Security Agreement (Select Interior Concepts, Inc.), Loan and Security Agreement (Select Interior Concepts, Inc.)

Certain After-Acquired Collateral. Borrower shall promptly notify Lender in writing if, after the Closing Effective Date, Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's request, shall promptly execute such documents and take such actions as Lender deems appropriate to effect Lender's duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Lender's request, Borrower shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (First Aviation Services Inc)

Certain After-Acquired Collateral. Borrower shall promptly notify Lender in writing if, after the Loan Closing Date, Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's ’s request, shall promptly execute such documents and take such actions as Lender deems appropriate to effect Lender's ’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiverlien waivers. If any Collateral is in the possession of a third party, at Lender's ’s request, Borrower shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Millennium Ethanol, LLC)

Certain After-Acquired Collateral. Borrower Borrowers shall promptly notify Lender in writing if, after the Closing Date, any Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's ’s request, shall promptly take such actions as Lender deems appropriate to effect Lender's ’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, possession or control agreement or Lien Waiveragreement. If any Collateral is in the possession of a third party, at Lender's ’s request, Borrower Borrowers shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Radiant Logistics, Inc)

Certain After-Acquired Collateral. Borrower shall promptly notify Lender in writing if, after the Closing Date, Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's ’s reasonable request, shall promptly take such actions as Lender deems appropriate to effect Lender's ’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any material Collateral is in the possession of a third party, at Lender's ’s reasonable request, Borrower shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Select Interior Concepts, Inc.)

Certain After-Acquired Collateral. Borrower Borrowers shall promptly notify Lender in writing if, after the Closing Date, any Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Propertyregistered intellectual property, Investment Property or Letter-of-Credit Rights and, upon Lender's ’s request, shall promptly take such actions as Lender deems appropriate to effect Lender's duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Lender's request, Borrower Borrowers shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Xplore Technologies Corp)

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Certain After-Acquired Collateral. Borrower shall promptly notify Lender in writing if, after the Closing Date, Borrower any Loan Party obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's ’s request, shall promptly take such actions as Lender deems appropriate to effect Lender's ’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Lender's ’s request, Borrower shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Craftmade International Inc)

Certain After-Acquired Collateral. Borrower Obligors shall promptly notify Lender in writing if, after the Closing Date, Borrower any Obligor obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights with a face amount or representing Property having a Value exceeding $100,000 and, upon Lender's ’s request, shall promptly take such actions as Lender deems appropriate to effect Lender's ’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement Control Agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Lender's ’s request, Borrower Obligors shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Revolution Lighting Technologies, Inc.)

Certain After-Acquired Collateral. Borrower Borrowers shall promptly notify Lender in writing if, after the Closing Date, any Borrower obtains any interest in any Collateral (which in the aggregate exceeds $100,000) consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's ’s request, shall promptly take such actions as Lender deems appropriate to effect Lender's ’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Lender's ’s request, Borrower Borrowers shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Ashworth Inc)

Certain After-Acquired Collateral. Borrower shall promptly notify Lender in writing if, after the Closing Date, Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Lender's ’s request, shall promptly take such actions as Lender deems appropriate to effect Lender's ’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Lender's ’s request, Borrower shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Nortech Systems Inc)

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