COLLATERAL AS SECURITY. Collateral (other than household goods or any dwelling) given as security under this Agreement or for any other loan You may have with Us will secure all amounts You owe Us now and in the future if that status is reflected in any particular agreement evidencing such debt.
COLLATERAL AS SECURITY. Collateral given as security under this Agreement or for any other loan You may have with Us will secure all amounts You owe Us now and in the future. CONSENSUAL LIEN ON FUNDS. You grant and consent to a lien on Your funds on deposit with Us (except for IRA and Xxxxx accounts) and any dividends due or to become due to You from Us to the extent You owe on any unpaid balance. If such funds on deposit or dividends due are owned jointly, Our right of set-off and Our consensual lien extends to any amount owed to Us by any of the joint owners. LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for which You are approved. Unless You are in default, any Credit Limits established for You will generally be self-replenishing as You make payments. You will keep Your unpaid balance within Your Credit Limit set by Us, and You will pay any amount over Your Credit Limit on Our demand whether or not We authorize the advances which caused You to exceed Your Credit Limit. Even if Your unpaid balance is less than Your Credit Limit, You will have no credit available during any time that any aspect of Your Account is in default.
COLLATERAL AS SECURITY. A condition precedent to the execution of this Pledge Agreement by the Pledgor is that the Principal Amount be first secured by the Company’s current and future assets as set forth in the Transaction Documents. The payment of the Principal Amount by the Company to the Purchaser is a direct debt obligation of the Company and is secured by all current and future assets of the Company. The Transaction Documents will not be amended, and the Collateral as defined in the Security Agreement shall not be modified or released without the express written consent of the Pledgor. The Company will not sell or offer to sell or otherwise transfer or grant or allow the imposition of a lien or security interest upon the Collateral as defined in the Security Agreement or use any portion thereof in any manner inconsistent with the Transaction Documents or with the terms and conditions of any policy of insurance thereon. The Company will not sell or offer to sell or otherwise transfer or grant or allow the imposition of a lien or security interest upon the Collateral or any of its other assets while the Principal is outstanding or use any portion thereof in any manner inconsistent with this Pledge Agreement or with the terms and conditions of any policy of insurance thereon. In the event that the Transaction Documents are amended or modified by the Company and Purchaser without Pledgor’s written consent, the Mortgage shall be deemed satisfied and released in full as security for the Principal Amount of the Note and the Purchaser will immediately record with the Palm Beach County Property Appraiser’s Officer, a Satisfaction of the Mortgage releasing the Purchaser’s lien on the Real Property.
COLLATERAL AS SECURITY. This Note is secured by certain collateral, which encumbers, among other things, the interest of Promissor in certain assets, as more particularly described therein (the "Collateral"). This Note and the Asset Pledge Agreement between Promissor and Promissee of even date herewith, and any other documents or instruments given or to be given to Promissee to secure the indebtedness evidenced by this Note are collectively referred to herein as the "Loan Documents".
COLLATERAL AS SECURITY for all indebtedness of Borrower to Bank due and to become due hereunder or under any of the other Loan Documents or otherwise governed hereby or by any of the other Loan Documents, whether principal, interest, fees, expenses or otherwise (collectively, the “Obligations”) Borrower shall grant, and shall cause each Subsidiary to grant, security interests of first priority in all of Borrower’s and each Subsidiary’s respective right, title and interest, whether now or hereafter acquired or arising, in all of their respective property, whether real, personal or mixed, (collectively and including the proceeds thereof, the “Collateral”) and including, but not limited to, all accounts, notes, intercompany notes, accounts receivable, inventory, machinery, equipment, general intangibles, capital stock and real property, all as further set forth in the Security Agreement to be executed by each Subsidiary in connection with this Agreement (“Security Agreement”), the Pledge Agreement to be executed by Borrower in connection with this Agreement (the “Pledge Agreement”) and the Deeds of Trust and Assignment of Rents to be executed by (i) ACR Supply, Inc., granting to Bank a first priority lien on a parcel of real property, located in Xxxxxx County, Texas and (ii) Lifetime Filter, Inc. granting to Bank a first priority lien on a parcel of real property, located in Xxxxxx County, Texas, in connection with this Agreement (the “Deeds of Trust”). All of the foregoing shall be evidenced by, and subject to the terms, of such security agreements, financing statements, deeds of trust and other documents as Bank shall reasonably require, all in form and substance satisfactory to Bank. Borrower shall reimburse Bank immediately upon demand for all costs and expenses incurred by Bank after the Closing Date in connection with any of the foregoing security including without limitation filing and recording fees; but it is agreed and understood that any such costs and expenses incurred by Bank prior to the Closing Date but billed to Bank after the Closing Date and any such costs and expenses incurred by Bank prior to the Closing Date but actually paid by Bank after the Closing Date shall be the responsibility of Bank.
COLLATERAL AS SECURITY. Collateral (other than household goods or any dwelling used as Your principal residence) given as security under this Agreement or for any other loan You may have with Us will secure all amounts You owe Us now and in the future if that status is reflected in the "Truth-in- Lending Disclosure" in any particular agreement evidencing such debt. PURCHASE MONEY SECURITY. For all purchase money transactions made with Your Card, to the extent permitted by law, You grant Us a security interest in all such personal property purchased with such Card. CONSENSUAL LIEN ON FUNDS. You grant and consent to a lien on Your funds on deposit with Us (except for IRA and Xxxxx accounts) and any dividends due or to become due to You from Us to the extent You owe on any unpaid balance. If such funds on deposit or dividends due are owned jointly, Our right of set-off and Our consensual lien extends to any amount owed to Us by any of the joint owners. ACCOUNT RESTRICTIONS. If reflected above, You agree to give Us a specific pledge of funds (which will equal Your credit limit) in order to receive and maintain an Account. In the event that You default on Your Account, We may apply these funds toward the repayment of any amount owed on that Account. You may cancel Your Account at any time by paying any amounts owed on such Account. To be certain that Your entire balance and all advances are paid, any funds pledged may not be available to You for 30 days after You have cancelled and any outstanding balance is paid in full. LINE OF CREDIT LIMITS. You will have credit available up to Your Credit Limit as shown above. Unless You are in default, such Credit Limit established for You will generally be self-replenishing as You make payments. You will keep Your unpaid balance within Your Credit Limit set by Us, and You will pay any amount over Your Credit Limit on Our demand whether or not We authorize the advances which caused You to exceed Your Credit Limit. Even if Your unpaid balance is less than Your Credit Limit, You will have no credit available during any time that any aspect of Your Account is in default.
