Continuing Liens Sample Clauses

Continuing Liens. Lender Type of Debt Amount ------ ------------ ------ Machinery to measure noise level and to laser etch bearings G.E. Capital $ 360,000 CNC Lathe G.E. Capital 113,900 2 Rotorpaks for trash disposal G.E. Capital 29,650 --------- Total G.E. CAPITAL $ 503,550 1996 Buick Century HSBC 4,264 1997 Buick LeSabre GMAC 4,646 --------- TOTAL CONTINUING LIENS $ 512,460 Schedule 7.3(j) EXISTING GMAC LETTERS OF CREDIT L/C L/C Issue Expiration Number Balance Payee Date Date ------ ------- ----- ---- ---- 347937 $296,745.01 Samara 06/04/99 01/31/00 348154 62,653.23 SMEC 07/30/99 01/21/00 348303 120,562.56 Shanghai Xxxx Xxxx Motors 09/09/99 01/21/00 348341 228,391.50 SPGBC 09/20/99 02/10/00 348357 36,596.70 Yuyao Foreign Trade 09/24/99 11/21/99 348426 878,300.77 Yuyao Foreign Trade 10/14/99 02/10/00 348503 147,796.02 China First Automobile 11/04/99 02/11/00 348593 61,173.99 Shanghai Xxxx Xxxx Motors 12/07/99 01/21/00 348594 118,901.64 SMEC 12/06/99 01/21/00 348605 148,399.39 Shanghai Dongyu 12/09/99 01/31/00 ------------- TOTAL: $2,099,520.81 EXHIBIT A REVOLVING NOTE West Nyack, New York $21,000,000 December 20, 1999 FOR VALUE RECEIVED, the undersigned, GENERAL BEARING CORPORATION, a Delaware corporation (the "Borrower"), hereby unconditionally promises to pay to the order of KeyBank National Association (the "Lender"), located at Key Xxxx Xxxxx, Xxx Xxxxxxxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxx 00000 on the Stated Maturity Date for all Revolving Loans, the principal amount of TWENTY ONE MILLION DOLLARS ($21,000,000) in lawful money of the United States and in immediately available funds or, if less, the aggregate unpaid principal amount of all Revolving Loans made by the Lender to the Borrower pursuant to that Section 2.3 of the Credit Agreement, dated as of December 20, 1999 (as amended, supplemented or otherwise modified from time to time, the "Credit Agreement") among General Bearing Corporation (the "Borrower"), various financial institutions as are, or may be from time to time parties thereto (the "Lenders"), and KeyBank National Association, as Administrative Agent, which principal amount, together with certain other information, shall be noted by the Lender on the schedules attached hereto (and any continuation thereof). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. The Borrower also promises to pay interest in like money at such office on the unpaid principal amount he...
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Continuing Liens. Except as provided in Article 5 and this Article 10, the Company represents that this Indenture shall create a continuing Lien on the Collateral with respect to which a security interest is granted pursuant to Section 10.01(a), and on any Released Kaiser Shares in which a security interest may hereafter be granted by the Company pursuant to Section 10.01(b), that shall (i) remain in full force and effect until payment in full of the Securities, (ii) be binding upon the Company and its successors and assigns and (iii) enure to the benefit of the Trustee and its successors, transferees and assigns.
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Continuing Liens. All liens and security interests securing all or any of the indebtedness evidenced by the Modified Note, including, but not limited to, the liens and security interests arising under or by virtue of the Amended Agreements, the Transaction Documents (other than the Security Agreement and the Subsidiary Security Agreement) and the Second Pledge and Security Agreement, are hereby ratified, affirmed, extended and continued, and shall remain in full force and effect to secure the payment of the entire indebtedness evidenced and to be evidenced by the Modified Note. All covenants, guarantees, agreements, warranties and remedies heretofore made or given for the benefit of the Lender regarding the Modified Note shall remain in full force and effect regarding the Modified Note.
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Continuing Liens. This Amendment shall in no manner effect or impair the liens or security interests securing payments of the Obligation, and, except as provided in Paragraph 1(a) FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT Page 4 AND RELATED LOAN DOCUMENTS hereof, such liens and security interests shall not in any manner be waived, which liens are acknowledged by each of Borrower, Xxxx, GreenSpring, LDG and Bit 3 to be valid and subsisting.
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Continuing Liens. The security interests and liens previously granted by Borrower to Bank are intended to continue in full force and effect and are reaffirmed as modified by any written agreement between Borrower and Bank made in connection herewith.
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Continuing Liens. The Borrowers, Guarantor and TBS hereby acknowledge and agree that the liens previously granted, or in the case of TBS and Total granted contemporaneous herewith, remain in full force and effect.
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Continuing Liens. The security interests and liens previously granted by Borrower to Bank, including without limitation the Security Agreement made by the Borrower in favor of the Bank dated December 5, 2007 (“Security Agreement”), are intended to continue in full force and effect and to secure among others all obligations under or related to this Agreement, and are reaffirmed including if and as modified by any written agreement between Borrower and Bank made in connection herewith. Borrower hereby confirms that all locations at which Borrower maintains assets are listed below Borrower’s signature on the Security Agreement, and that the Schedules to such Security Agreement remain complete and accurate.
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Continuing Liens. Until the Termination Date, Lender shall retain the security interests in the Collateral granted under the Collateral Documents and the ability to exercise all rights and remedies available to it under the Loan Documents and applicable laws.
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Continuing Liens. Notwithstanding the refinancing of the Original Agreement Refinancing Amount pursuant hereto, the parties hereto hereby agree that the Liens created pursuant to the Security Trust Agreement and the other Credit Documents prior to such refinancing shall continue in full force and effect and shall not be terminated or released as a result of such refinancing.
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Related to Continuing Liens

  • Existing Liens Set forth on Schedule 4.01(o) hereto is a complete and accurate list of all Liens on the property or assets of any Loan Party or any of its Subsidiaries that secure Debt for Borrowed Money, showing as of the date hereof the lienholder thereof, the principal amount of the obligations secured thereby and the property or assets of such Loan Party or such Subsidiary subject thereto.

  • Continuing Obligations The rights and obligations of the Parties that, by their nature, would continue beyond the expiration or termination of this Agreement, e.g., "Liability and Risk of Loss" and "Intellectual Property Rights"-related clauses shall survive such expiration or termination of this Agreement.

  • Prohibition on Contesting Liens Each of the Second Priority Representatives, for itself and on behalf of each Second Priority Debt Party under its Second Priority Debt Facility, agrees that it shall not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the validity, extent, perfection, priority or enforceability of any Lien securing any Senior Obligations held (or purported to be held) by or on behalf of any Senior Representative or any of the other Senior Secured Parties or other agent or trustee therefor in any Senior Collateral, and the each Senior Representative, for itself and on behalf of each Senior Secured Party under its Senior Facility, agrees that it shall not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the validity, extent, perfection, priority or enforceability of any Lien securing any Second Priority Debt Obligations held (or purported to be held) by or on behalf of any of any Second Priority Representative or any of the Second Priority Debt Parties in the Second Priority Collateral. Notwithstanding the foregoing, no provision in this Agreement shall be construed to prevent or impair the rights of any Senior Representative to enforce this Agreement (including the priority of the Liens securing the Senior Obligations as provided in Section 2.01) or any of the Senior Debt Documents.

  • Continuing Liability The termination of this Agreement for any reason shall not release either Party from any liability, obligation or agreement which has already accrued at the time of termination. Termination of this Agreement for any reason shall not constitute a waiver or release of, or otherwise be deemed to prejudice or adversely affect, any rights, remedies or claims, whether for damages or otherwise, which a Party may have hereunder, at law or otherwise, or which may arise out of or in connection with such termination.

  • Continuing Obligation The Contractor's duty to indemnify continues in full force and effect, notwithstanding the expiration or early cancellation of the contract, with respect to any claims based on facts or conditions that occurred before expiration or cancellation.

  • Actions with Respect to Shared Collateral; Prohibition on Contesting Liens (a) With respect to any Shared Collateral, (i) only the Applicable Authorized Representative shall act or refrain from acting with respect to the Shared Collateral (including with respect to any intercreditor agreement with respect to any Shared Collateral), (ii) the Applicable Authorized Representative shall not follow any instructions with respect to such Shared Collateral (including with respect to any intercreditor agreement with respect to any Shared Collateral) from any Non-Controlling Authorized Representative and (iii) no Non-Controlling Authorized Representative or other Secured Party (other than the Applicable Authorized Representative) shall or shall instruct the Applicable Authorized Representative to, commence any judicial or nonjudicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action to take possession of, exercise any right, remedy or power with respect to, or otherwise take any action to enforce its security interest in or realize upon, or take any other action available to it in respect of, any Shared Collateral (including with respect to any intercreditor agreement with respect to any Shared Collateral), whether under any Security Document, applicable law or otherwise, it being agreed that only the Applicable Authorized Representative, acting on the instructions of the Secured Parties (other than any Non-Controlling Secured Parties) and in accordance with the applicable Security Documents, shall be entitled to take any such actions or exercise any such remedies with respect to Shared Collateral. Notwithstanding the equal priority of the Liens securing each Series of Obligations, the Applicable Authorized Representative may deal with the Shared Collateral as if such Applicable Authorized Representative had a senior Lien on such Collateral. No Non-Controlling Authorized Representative or Non-Controlling Secured Party will contest, protest or object to any foreclosure proceeding or action brought by the Applicable Authorized Representative or Controlling Secured Party or any other exercise by the Applicable Authorized Representative or Controlling Secured Party of any rights and remedies relating to the Shared Collateral, or to cause the Applicable Authorized Representative to do so. The foregoing shall not be construed to limit the rights and priorities of any Secured Party, Applicable Authorized Representative or Authorized Representative with respect to any Collateral not constituting Shared Collateral. (b) Each of the Authorized Representatives agrees that it will not accept any Lien on any Collateral for the benefit of any Series of Obligations (other than funds deposited for the discharge or defeasance of any Additional Agreement) other than pursuant to the Security Documents and pursuant to Sections 2.05(c) or (j), 2.11(d) or (e) or 2.22 of the Credit Agreement, and by executing this Agreement (or a Joinder Agreement), each Authorized Representative and the Series of Secured Parties for which it is acting hereunder agree to be bound by the provisions of this Agreement and the other Security Documents applicable to it. (c) Each of the Secured Parties agrees that it will not (and hereby waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the perfection, priority, validity, attachment or enforceability of a Lien held by or on behalf of any of the Secured Parties in all or any part of the Collateral, or the provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any of the Applicable Authorized Representative or any Authorized Representative to enforce this Agreement.

  • Rights in Collateral; Priority of Liens Borrower and each other Loan Party own the property granted by it as Collateral under the Collateral Documents, free and clear of any and all Liens in favor of third parties. Upon the proper filing of UCC financing statements, and the taking of the other actions required by Lender, the Liens granted pursuant to the Collateral Documents will constitute valid and enforceable first, prior and perfected (to the extent that Liens on the Collateral can be perfected by the filing of UCC financing statements) Liens on the Collateral in favor of Lender.

  • Continuing Liability Under Collateral Notwithstanding anything herein to the contrary, (i) each Grantor shall remain liable for all obligations under the Collateral and nothing contained herein is intended or shall be a delegation of duties to the Collateral Agent or any Secured Party, (ii) each Grantor shall remain liable under each of the agreements included in the Collateral, including, without limitation, any agreements relating to Pledged Partnership Interests or Pledged LLC Interests, to perform all of the obligations undertaken by it thereunder all in accordance with and pursuant to the terms and provisions thereof and neither the Collateral Agent nor any Secured Party shall have any obligation or liability under any of such agreements by reason of or arising out of this Agreement or any other document related thereto nor shall the Collateral Agent nor any Secured Party have any obligation to make any inquiry as to the nature or sufficiency of any payment received by it or have any obligation to take any action to collect or enforce any rights under any agreement included in the Collateral, including, without limitation, any agreements relating to Pledged Partnership Interests or Pledged LLC Interests, and (iii) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral.

  • Reasonable and Continuing Obligations Executive agrees that Executive’s obligations under this Section 6 are obligations which will continue beyond the date Executive’s employment terminates and that such obligations are reasonable, fair and equitable in scope. The terms and duration are necessary to protect the Company’s legitimate business interests and are a material inducement to the Company to enter into this Agreement. Executive further acknowledges that the consideration for this Section 6 is his employment or continued employment. Executive will not be paid any additional compensation during this Restricted Period for application or enforcement of the restrictive covenants contained in this Section 6.

  • Superior Liens Where permitted by local law and where the senior lienholder is required to notify a junior lienholder be named as a party defendant in foreclosure proceedings in order to foreclose such junior lienholder’s equity of redemption, the Servicer shall file (or cause to be filed) a request for notice of any action by a superior lienholder under a First Lien for the protection of the Trust interests in the related second lien Mortgage Loan, the expense of which shall constitute a Servicing Advance to the extent not otherwise reimbursed by the Seller. In jurisdictions where the senior lienholder is not required to notify a junior lienholder be named as party defendant in foreclosure proceedings in order to foreclose on such lienholder, the Servicer shall cause the First Lien relating to each second lien Mortgage Loan to be tracked to protect the Trust’s interest in such second lien Mortgage Loan, the expense of which shall constitute a Servicing Advance to the extent not otherwise reimbursed by the Seller. If the Servicer is notified that any superior lienholder has accelerated or intends to accelerate the obligations secured by the First Lien, or has declared or intends to declare a default under the mortgage or the promissory note secured thereby, or has filed or intends to file an election to have the related Mortgaged Property sold or foreclosed, the Servicer shall take, on behalf of the Trust, whatever actions are necessary to protect the interests of the Trust in accordance with Accepted Servicing Practices. The Servicer shall not make a Servicing Advance with respect thereto except to the extent that it determines in its reasonable good faith judgment that such advance would be recoverable from Liquidation Proceeds on the related second lien Mortgage Loan and in no event in an amount that is greater than the then outstanding principal balance of the related second lien Mortgage Loan.

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