Common use of Certain After-Acquired Collateral Clause in Contracts

Certain After-Acquired Collateral. Obligors shall promptly notify Lender in writing if, after the Closing Date, 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 reasonable 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 material Collateral is in the possession of a third party, at Lender’s reasonable request, 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.)

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Certain After-Acquired Collateral. Obligors Borrower shall promptly notify Lender in writing if, after the Closing Date, any Obligor 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 reasonable '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 material Collateral is in the possession of a third party, at Lender’s reasonable 's request, Obligors 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)

Certain After-Acquired Collateral. Obligors Borrowers shall promptly notify Lender in writing if, after the Closing Date, any Obligor 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 reasonable 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, possession or control agreement or Lien Waiveragreement. If any material Collateral is in the possession of a third party, at Lender’s reasonable request, Obligors 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. Obligors Borrowers shall promptly notify Lender in writing if, after the Closing Date, any Obligor 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 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 reasonable 's request, Obligors 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)

Certain After-Acquired Collateral. Obligors Borrower shall promptly notify Lender in writing if, after the Closing Date, any Obligor 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 reasonable 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 material Collateral is in the possession of a third party, at Lender’s reasonable request, Obligors 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)

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Certain After-Acquired Collateral. Obligors Borrower shall promptly notify Lender in writing if, after the Closing Date, any Obligor 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 reasonable 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 material Collateral is in the possession of a third party, at Lender’s reasonable request, Obligors 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)

Certain After-Acquired Collateral. Obligors Borrower shall promptly notify Lender in writing if, after the Closing Effective Date, any Obligor 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 reasonable '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 Waiver. If any material Collateral is in the possession of a third party, at Lender’s reasonable 's request, Obligors 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. Obligors Borrower shall promptly notify Lender in writing if, after the Closing Date, any Obligor 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 reasonable 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 material Collateral is in the possession of a third party, at Lender’s reasonable request, Obligors 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.)

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