Common use of Credit Balances; Additional Collateral Clause in Contracts

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ rights under this Financing Agreement.

Appears in 2 contracts

Samples: Financing Agreement (G Iii Apparel Group LTD /De/), Financing Agreement (G Iii Apparel Group LTD /De/)

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Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s 's security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s 's or the Lenders' rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (G Iii Apparel Group LTD /De/)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders Lender hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account Loans may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise)Borrower, and any other property or assets Property of the Companies (or any of them) Borrower in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to which are then due and payable in accordance with the terms of this Financing Agreement. The liens Liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, Lender herein and any other lien Lien or security interest which the Agent or the Lenders Lender may have in any other assets of the Companies Borrower secure payment and performance of all present and future Obligations. (b) Notwithstanding the AgentLender’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property Property other than the Collateral, or by the guaranty, endorsement, assets or property of any other personPerson, the Agent Lender shall have the right in its sole discretion to determine which rights, security, liensLiens, security interests or remedies the Agent Lender shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liensLiens, security interests or remedies, or any of the Agent’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Credit Agreement (Assisted 4 Living, Inc.)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies Company (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) Company in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies Company secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s 's security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s 's or the Lenders' rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Werner Holding Co Inc /Pa/)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies any Company (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) such Company in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies any Company secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s 's security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s 's or the Lenders' rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (MTM Technologies, Inc.)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder Lender shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Designated Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and indefeasible final payment and satisfaction of the Obligations. Any Upon an Event of Default and during the continuation thereof, any reserves or balances to the credit of the Companies Borrower (in the Revolving Loan Designated Account or otherwise), and any other property or assets of the Companies (or any of them) Borrower in the possession of the Agent or any Lender, Lender may be held by the Agent Lender or such Lender as Other other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies secure payment and performance of all present and future Obligations. (b) Notwithstanding the AgentLender’s security interests Security Interest in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent Lender shall have the right in its sole discretion to determine which rights, security, liensLiens, security interests or remedies the Agent Lender shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the AgentLender’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Blow & Drive Interlock Corp)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, effect until the termination of this Financing Security Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies Obligors (or any of them) in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Security Agreement and the Subordination Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies Obligors secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s 's security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, subject to the Subordination Agreement, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ 's rights under this Financing Security Agreement.

Appears in 1 contract

Samples: Security Agreement (Crown Crafts Inc)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the ObligationsObligations (other than contingent indemnification obligations not yet due and payable or reimbursement obligations in respect of Letters of Credit which have been cash collateralized to the reasonable satisfaction of the Agent or for which back-stop letters of credit reasonably satisfactory to the Agent have been provided by an issuer reasonably satisfactory to the Agent). Any reserves or balances to the credit of the Companies Company (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) Credit Party in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies any Credit Party secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect tothereto, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Horsehead Holding Corp)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Aegis Communications Group Inc)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies Borrowers (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) Borrowers in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing AgreementAgreement (including without limitation the provisions of Section 3.2(b)). The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies Borrowers secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other personPerson, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Skechers Usa Inc)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders CIT hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies Company (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) Company in the possession of the Agent or any LenderCIT, may be held by the Agent or such Lender CIT as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, CIT herein and any other lien or security interest which the Agent or the Lenders CIT may have in any other assets of the Companies Company secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s CIT's security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent CIT shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent CIT shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ CIT's rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Barry R G Corp /Oh/)

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Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders CIT hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) in the possession of the Agent or any LenderCIT, may be held by the Agent or such Lender CIT as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, CIT herein and any other lien or security interest which the Agent or the Lenders CIT 30 <PAGE> may have in any other assets of the Companies secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s CIT's security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent CIT shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent CIT shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ CIT's rights under this Financing Agreement. SECTION 7.

Appears in 1 contract

Samples: Financing Agreement

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders CIT hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies Company (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) Company in the possession of the Agent or any LenderCIT, may be held by the Agent or such Lender CIT as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, CIT herein and any other lien or security interest which the Agent or the Lenders CIT may have in any other assets of the Companies Company secure payment and performance of all present and future Obligations. (b) Notwithstanding the AgentCIT’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent CIT shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent CIT shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the AgentCIT’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Ascendia Brands, Inc.)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders CIT hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the ObligationsObligations (other than Obligations in respect of Letter of Credit Guaranties collateralized pursuant to Section 11 hereof). Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) in the possession of the Agent or any LenderCIT, may be held by the Agent or such Lender CIT as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, CIT herein and any other lien or security interest which the Agent or the Lenders CIT may have in any other assets of the Companies secure payment and performance of all present and future Obligations, subject to the terms of this Financing Agreement. (b) Notwithstanding the Agent’s CIT's security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent CIT shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent CIT shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ CIT's rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Ronson Corp)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies Company (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) Company in the possession of the Agent or any Lender, shall be promptly returned to the Company upon receipt, provided that following the occurrence and during the continuance of an Event of Default, such reserves, balances or other property or assets may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies Company secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Debtor in Possession Financing Agreement

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders CIT hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies Company (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) Company in the possession of the Agent or any LenderCIT, may be held by the Agent or such Lender CIT as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, CIT herein and any other lien or security interest which the Agent or the Lenders CIT may have in any other assets of the Companies Company secure payment and performance of all present and future Obligations. (b) Notwithstanding the AgentClT’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent CIT shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent CIT shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the AgentCIT’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Rentech Inc /Co/)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders CIT hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) in the possession of the Agent or any LenderCIT, may be held by the Agent or such Lender CIT as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, CIT herein and any other lien or security interest which the Agent or the Lenders CIT may have in any other assets of the Companies secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s CIT's security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent CIT shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent CIT shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ CIT's rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Crown Crafts Inc)

Credit Balances; Additional Collateral. (a) The rights and security interests granted to the Agent and the Lenders hereunder shall continue in full force and effect, notwithstanding the termination of this Financing Agreement or the fact that the Revolving Loan Account may from time to time be temporarily in a credit position, until the termination of this Financing Agreement and the full and final payment and satisfaction of the Obligations. Any reserves or balances to the credit of the Companies (in the Revolving Loan Account or otherwise), and any other property or assets of the Companies (or any of them) in the possession of the Agent or any Lender, may be held by the Agent or such Lender as Other Collateral, and applied in whole or partial satisfaction of such Obligations when due, subject to the terms of this Financing Agreement. The liens and security interests granted to the Agent, for the benefit of the Agent and the Lenders, herein and any other lien or security interest which the Agent or the Lenders may have in any other assets of the Companies secure payment and performance of all present and future Obligations. (b) Notwithstanding the Agent’s security interests in the Collateral, to the extent that the Obligations are now or hereafter secured by any assets or property other than the Collateral, or by the guaranty, endorsement, assets or property of any other person, the Agent shall have the right in its sole discretion to determine which rights, security, liens, security interests or remedies the Agent shall at any time pursue, foreclose upon, relinquish, subordinate, modify or take any other action with respect to, without in any way modifying or affecting any of such rights, security, liens, security interests or remedies, or any of the Agent’s or the Lenders’ rights under this Financing Agreement.

Appears in 1 contract

Samples: Financing Agreement (Under Armour, Inc.)

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