Collateral for Loan. The Loan and Pledgor’s payment and performance under the Loan Documents are secured, in part, by the pledge of all of the Shares. The Credit Agreement, the Note, and any amendments to such Note or replacements thereof, or substitutions therefor, together with any additional promissory notes issued by Pledgor in connection with the Loan to any present or future Pledgee, and any amendments thereto, replacements thereof or substitutions therefor (collectively, the “Note”); certain other security instruments; and any other agreement, document or instrument executed in connection with the Credit Agreement, and all exhibits and schedules to any such agreements, documents or instruments, are hereinafter collectively referred to as the “Loan Documents.”
Collateral for Loan. The Borrower's obligations under the Loan following the Closing shall be secured by a first priority lien (senior to all other creditors of the Borrower) in all tangible and intangible property of the Borrower including, without limitation, inventory, machinery and equipment, goods, merchandise, and other property (collectively, the "Collateral"). The Borrower shall be solely responsible for paying the actual third-party fees and costs for securing the Collateral.
Collateral for Loan. Any property now or hereafter held as security for or pertaining to the Loan, including, without limitation, all or any part of the Mortgaged Property, may be sold, exchanged, surrendered or otherwise dealt with by Xxxxxx as provided in the Loan Documents without notice to and without affecting the liability of Guarantor (other than the reduction to outstanding principal amount realized by such sale, exchange, surrender or 6100099.4 otherwise). Guarantor shall not have any rights or claims against Lender by reason of any action Lender may take or fail to take in connection with perfecting Lender’s security interest in property held as collateral for the Loan or enforcing Xxxxxx’s security interest in such property.
Collateral for Loan. Collateral. To secure complete repayment of the Loan, the ESOP shall pledge the Eligible Stock (acquired at the time the Loan is made), as security, pursuant to the Stock Pledge Agreement. The terms of the pledge and the manner in which the Eligible Stock will be released from such encumbrance, shall be substantially as set forth in the Stock Pledge Agreement.
Collateral for Loan a On or before January 29, 2001, Borrower will instruct the Transfer Agent for its common stock to issue _____________shares of its common stock to Lender (the "Collateral Shares"). Such shares will be held by Lender in trust as collateral for repayment of principal or interest (paid in shares) pursuant to this agreement. b At such times as interest (paid in shares) is due and payable to Lender or Lender elects by written notice to convert principal into common shares, the equivalent number of Collateral Shares held by Lender will be released from shares held by Lender in trust as collateral. At such time as all principal amount of the note has been paid or converted into common stock, any remaining Collateral Shares will be returned to Borrower and cancelled. c In the event Borrower shall in any material respect not perform its obligations under this agreement, the Collateral Shares as determined by (a) above which are held or issuable to Lender may be converted into shares owned by Lender, and Lender will then be free to sell, hypothecate or otherwise obtain value from such shares to offset the principal amount outstanding under this agreement.
Collateral for Loan. The Borrower hereby agrees that, except as consented to by the Lender in writing, and except as otherwise provided in the Mortgage, it shall not (i) convey, sell, assign, mortgage, encumber, pledge or transfer in any manner the Borrower's legal, beneficial or membership interests in Borrower or any and all collateral securing the Loan, or (ii) incur or become liable for any additional indebtedness (except in the ordinary course of business), for so long as the Note and the other Loan Documents are in effect and the obligations of the Borrower hereunder are still outstanding.
Collateral for Loan. The Employer may elect in its Adoption -------------------- Agreement Section 7.07 to require a Participant to secure a loan using collateral which is in addition to a percentage of such Participant's vested Account Balance under the Plan.
Collateral for Loan. (9.1) If the collateral does not cover the total of the loan value, then borrower should cover any prorated difference through principal protected note (PPN) and indemnity capital protection wrap (WCP) of the value worth the still uncovered balance.
Collateral for Loan. Subject to the qualifications contained in Section 4 of this Agreement, all collateral security for the Loan now in or hereafter coming into the possession of Lead Lender shall be held by Lead Lender in its own name, but for the joint benefit of the Participant, and such collateral security shall also secure the Participant Participation Interest in the Loan.
Collateral for Loan. Repayment in full of the Loan, as increased by ------------------- this Amendment, shall be secured by all Collateral described in the Loan Agreement. Borrower hereby expressly affirms and agrees that the Security Agreement dated of even date with the Loan Agreement (the "Security Agreement"), granting a security interest to Bank in all of Borrower's accounts, inventory and equipment, shall be deemed to cover and apply to the Loan, as increased by this Amendment, and that repayment of the Loan, as increased by this Amendment, shall be secured thereby to the same extent as if the Loan had been in original principal amount of $30,000,000.
