Credit Terms/Security Interest. Flextronics shall provide LumiraDx with an initial credit limit, which shall be reviewed (and, if necessary, adjusted) periodically, but not more than once in every quarter. LumiraDx shall provide information reasonably requested by Flextronics, in support of such credit reviews. In Flextronics’ reasonably exercised discretion and based upon reasonably complete financial information, Flextronics shall have the right to reduce LumiraDx’s credit limit and/or require LumiraDx to obtain an escrow account; in such case, the bank chosen by LumiraDx shall be reasonably acceptable to Flextronics, the escrow account shall be in force for a minimum period of time of [***] and shall be in an amount equal to Flextronics’s entire exposure, including without limitation the risks associated with Inventory, Special Inventory, and the accounts receivable from LumiraDx in accordance with LumiraDx’s forecasts. Alternatively, LumiraDx may, in its sole discretion, prepay an amount equal to the relevant price in the Fee List for Products ordered in the Forecast in substitution for its obligation to provide an escrow account, subject to LumiraDx settling all of due or past due invoices Flex issued earlier based on this Agreement (including but not limited to the accounts receivables for the Products, Inventory, Special Inventory or Monthly Charges). The prepayment is to be made within [***] from the date of acceptance of the purchase order. Notwithstanding the foregoing, nothing in this clause 3.7 shall oblige LumiraDx to provide any financial information to Flextronics that is not generally available to the public after the Admission of LumiraDx Limited. The draw down procedures under the escrow account shall be agreed between Flextronics and LumiraDx. Flextronics shall have the right to suspend performance (e.g., cease ordering Materials based on LumiraDx’s Forecast and/or cease making Product deliveries) until LumiraDx either makes a payment to bring its account within the revised credit limit and/or makes other arrangements satisfactory to Flextronics. Flextronics shall have the right to retain ownership in the Products until LumiraDx has paid for the Products and all Product-related charges to the extent such Products remain within the control of LumiraDx.

Credit Terms/Security Interest. Flex shall provide Customer with an initial credit limit, which shall be reviewed (and, if necessary, adjusted) periodically. Customer shall provide information reasonably requested by Flex in support of such credit reviews. In Flex’s reasonably exercised discretion and based upon reasonably complete financial information, Flex has the right to reduce Customer’s credit limit and/or require, Customer to obtain and maintain a standby letter of credit or escrow account on behalf of Flex; in such case, the bank chosen by Customer shall be reasonably acceptable to Flex, the letter of credit or escrow account shall be in force for a minimum period of time of six (6) months and shall be in an amount equal to Flex’s entire exposure, including without limitation the risks associated with Design Material Inventory, Inventory, Special Inventory, and the accounts receivable from the Customer in accordance with the Design Services and Design Statements of Work or Customer’s Forecast for Manufacturing Services. The draw down procedures under the standby letter of credit or the escrow account shall be determined solely by Flex. Flex has the right to suspend performance (e.g., cease ordering Materials based on Customer’s Forecast and/or cease making Product deliveries) until Customer either makes a payment to bring its account within the revised credit limit and/or makes other arrangements satisfactory to Flex. Customer grants Flex a security interest in the Deliverables and Products delivered to Customer until Customer has paid for the Deliverables, Products and all Product-related charges. Customer shall promptly execute any documents requested by Flex to perfect and protect such security interest.

Credit Terms/Security Interest. Flextronics shall provide Customer with an initial credit limit, which shall be reviewed (and, if necessary, adjusted) [***]. Customer shall provide information reasonably requested by Flextronics in support of such credit reviews. In Flextronics’s reasonably exercised discretion and based upon reasonably complete financial information, Flextronics shall have the right to reduce Customer’s credit limit and/or require Customer to obtain and maintain a standby letter of credit or escrow account on behalf of Flextronics; in such case, the bank chosen by Customer shall be reasonably acceptable to Flextronics, the letter of credit or escrow account shall be in force for a minimum period of time of [***] and shall be in an amount equal to Flextronics’s entire exposure, [***] accordance with Customer’s forecasts. The draw down procedures under the standby letter of credit or the escrow account shall be determined solely by Flextronics. Flextronics shall have the right to suspend performance (e.g., cease ordering Materials based on Customer’s Forecast and/or cease making Product deliveries) until Customer either makes a payment to bring its account within the revised credit limit and/or makes other arrangements satisfactory to Flextronics. Customer grants Flextronics a security interest in the Products delivered to Customer until Customer has paid for the Products and all Product-related charges. Customer agrees to promptly execute any documents requested by Xxxxxxxxxxx to perfect and protect such security interest.

Credit Terms/Security Interest. 8.1 Flextronics shall provide Kornit with an initial credit limit, which shall be reviewed (and, if necessary, adjusted) periodically. Kornit shall provide information reasonably requested by Flextronics in support of such credit reviews. In Flextronics's reasonably exercised discretion, Flextronics shall have the right to reduce Kornir's credit limit and/or require Kornit to obtain and maintain a standby letter of credit or escrow account on behalf of Flextronics; in such case, the bank chosen by Kornit shall be reasonably acceptable to Flextronics, the letter of credit or escrow account shall be in force for a minimum period of time of [* * *] and shall be in an amount equal to [* * *]. The draw down procedures under the standby letter of credit or the escrow account shall be mutually agreed by Flextronics and Kornit. Flextronics shall have the right to suspend performance (e.g., cease ordering Components required to fulfill the Purchase Orders and/or cease manufacturing or making Product deliveries and/or providing Design Services) until Kornit either makes a payment to bring its account within the revised credit limit and/or makes other arrangements satisfactory to Flextronics. Kornit agrees to promptly execute any documents reasonably requested by Flextronics to perfect and protect such security interest.

Credit Terms/Security Interest. Flex shall provide Customer with an initial credit limit, which shall be reviewed (and, if necessary, adjusted) periodically. Customer shall provide information reasonably requested by Flex in support of such credit reviews, including without limitation, full annually audited and quarterly reviewed financial statements (P&L, BS and Cash Flow statements). In Flex’s reasonably exercised discretion , Flex shall have the right to reduce Customer’s credit limit and/or require Customer to obtain and maintain a standby letter of credit or escrow account on behalf of Flex; in such case, the bank chosen by Customer shall be reasonably acceptable to Flex, the letter of credit or escrow account shall be in force for a minimum period of time of twelve (12) months and shall be in an amount equal to Flex’s entire exposure, including without limitation the risks associated with Inventory, Special Inventory, and the accounts receivable from the Customer in accordance with Customer’s forecasts. The draw down procedures under the standby letter of credit or the escrow account shall be determined solely by Flex. Flex shall have the right to suspend performance (e.g., cease ordering Materials required to fulfill accepted purchase orders and/or cease manufacturing or making Product deliveries and/or providing NPI Services) until Customer either makes a payment to bring its account within the revised credit limit and/or makes other arrangements satisfactory to Flex. At Flex request, Customer shall forthwith grant Flex a security interest in the Products delivered to Customer until Customer has paid for the Products and all Product-related charges. Customer agrees to promptly execute any documents requested by Flex to perfect and protect such security interest. FLEX CONFIDENTIAL

Credit Terms/Security Interest. At the Company's option, and if agreed in writing by the Company with BSC, shipments of Products hereunder may be made on such credit terms, beyond the [ ** ] terms provided for in this Agreement, as will be specified in such written agreement. The Company reserves the right at all times either generally or with respect to any specific order by BSC to vary, change or limit the amount or duration of credit to be allowed to BSC pursuant to this Section 11.6.2. BSC agrees that if and when the Company, pursuant to any such written agreement, establishes a line of credit for BSC or permits BSC to obtain Products on open account, BSC concurrently grants the Company a continuing security interest in the Collateral (as defined below) in order to secure payment of the Indebtedness (as defined below). The "Collateral" means any the Products now or hereafter acquired by BSC and all proceeds therefrom and accessions thereto, and "Indebtedness" means any and all debts, obligations or liabilities of BSC to the Company, now or hereafter existing, including without limitation, any late payment charges due from BSC hereunder and any expenses incurred by the Company in enforcing its rights hereunder (including without limitation reasonable attorneys' fees, court costs and the costs of retaking and holding the Collateral, preparing it for resale or other disposition, or selling or otherwise disposing of it). BSC acknowledges that this Section 11.6.2 constitutes a security agreement and hereby authorizes the Company to file any financing statement or other documents necessary to perfect the Company's security interest in the Collateral in any public office in any jurisdiction deemed necessary by the Company, but only if credit is extended under this Section 11.6.2. BSC hereby grants the Company a limited power of attorney for the sole purpose of executing, in BSC's name, any financing statements and related documents deemed necessary by the Company to perfect the security interest granted herein. Upon the occurrence of any event specified in Section 13.2 hereof permitting termination of this Agreement, the Company, in addition to all other rights and remedies under this Agreement, will be entitled to all rights, powers and remedies available to a secured party under the Uniform Commercial Code with respect to the Collateral.

Related to Credit Terms/Security Interest

Collateral Account and Security Interest At any time when Fund’s assets are below $15 million, the Advisor, for value received, hereby pledges, assigns, sets over and grants to the Trust a continuing security interest in and to an account to be established and maintained by the Advisor with the Securities Intermediary and designated as a collateral account (the “Collateral Account”), including any replacement account established with any successor, together with all dividends, interest, stock-splits, distributions, profits and all cash and non-cash proceeds thereof and any and all other rights as may now or hereafter derive or accrue therefrom (collectively, the “Collateral”) to secure the payment of any required Fund Reimbursement Payment or Liquidation Expenses (as defined in Paragraph 5 of this Agreement). For so long as this Agreement is in effect, any transfers or conveyances of Collateral to any party shall require the approval of the Board of Trustees of the Trust (the “Board”), except as specified in Section 7(a)(ii) of this Agreement, below. In addition, the Trust will not issue entitlement orders, redeem or otherwise take any action with respect to the Collateral or Collateral Account unless a Collateral Event (defined below under Section 5 of this Agreement) has occurred or is continuing.
Grant of a Security Interest It is the express intent of the parties hereto that the conveyance of the Mortgage Loans by the Seller to the Purchaser as provided in Section 2 hereof be, and be construed as, a sale of the Mortgage Loans by the Seller to the Purchaser and not as a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller. However, if, notwithstanding the aforementioned intent of the parties, the Mortgage Loans are held to be property of the Seller, then, (a) it is the express intent of the parties that such conveyance be deemed a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller, and (b) (i) this Agreement shall also be deemed to be a security agreement within the meaning of Article 9 of the Uniform Commercial Code of the applicable jurisdiction; (ii) the conveyance provided for in Section 2 hereof shall be deemed to be a grant by the Seller to the Purchaser of a security interest in all of the Seller's right, title and interest in and to the Mortgage Loans, and all amounts payable to the holder of the Mortgage Loans in accordance with the terms thereof, and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, including, without limitation, all amounts, other than investment earnings, from time to time held or invested in the Certificate Account, the Distribution Account or, if established, the REO Account (each as defined in the Pooling and Servicing Agreement) whether in the form of cash, instruments, securities or other property; (iii) the assignment to the Trustee of the interest of the Purchaser as contemplated by Section 1 hereof shall be deemed to be an assignment of any security interest created hereunder; (iv) the possession by the Trustee or any of its agents, including, without limitation, the Custodian, of the Mortgage Notes, and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be possession by the secured party for purposes of perfecting the security interest pursuant to Section 9-313 of the Uniform Commercial Code of the applicable jurisdiction; and (v) notifications to persons (other than the Trustee) holding such property, and acknowledgments, receipts or confirmations from persons (other than the Trustee) holding such property, shall be deemed notifications to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the secured party for the purpose of perfecting such security interest under applicable law. The Seller and the Purchaser shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement and the Pooling and Servicing Agreement.
Collateral; Security Interest (a) Pursuant to the Custodial Agreement, the Custodian shall hold the Mortgage Loan Documents and the Pledged Securities as exclusive bailee, agent and securities intermediary, within the meaning of Article 8 of the Uniform Commercial Code, for the benefit of Agent on behalf of Lender pursuant to terms of the Custodial Agreement and shall deliver Trust Receipts (as defined in the Custodial Agreement) to Agent each to the effect, inter alia, that it has reviewed such Mortgage Loan Documents in the manner and to the extent required by the Custodial Agreement and identifying any deficiencies in such Mortgage Loan Documents as so reviewed. (b) All of Borrower's right, title and interest in, to and under each of the following items of property, whether now owned or hereafter acquired, now existing or hereafter created and wherever located, is hereinafter referred to as the "COLLATERAL": (i) all Mortgage Loans; (ii) all Mortgage Loan Documents, including, without limitation, all promissory notes and all Servicing Records, Servicing Agreements and any other collateral pledged or otherwise relating to such Mortgage Loans, together with all files, documents, instruments, surveys, certificates, correspondence, appraisals, computer programs (subject to any restrictions on transfer under any related licensing agreement), computer storage media, accounting records and other books and records relating thereto, including electronic records; (iii) all mortgage guaranties and insurance (issued by governmental agencies or otherwise) and any mortgage insurance certificate or other document evidencing such mortgage guaranties or insurance relating to any Mortgage Loan and all claims and payments thereunder; (iv) all other insurance policies and insurance proceeds relating to any Mortgage Loan or the related Mortgaged Property; (v) all Interest Rate Protection Agreements, relating to or constituting any and all of the foregoing; (vi) all Cash Collateral; (vii) all Pledged Securities;
Credit Union Lien and Security Interest To the extent you owe the Credit Union money as a borrower, guarantor, indorser or otherwise, the Credit Union has a lien on any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds. The Credit Union may apply these funds in any order to pay off your indebtedness without further notice to you. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. In addition, you grant the Credit Union a consensual security interest in your accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount owed the Credit Union, except obligations secured by your dwelling, unless prohibited by applicable law. All accounts are nonassignable and nontransferable to third parties.
Pledge and Security Interest CUC hereby pledges and lawfully grants to Telesource a security interest in and to the Escrow Account and all funds and assets at any time contained therein, whether in the form of cash, bonds, bills, notes, securities, other instruments, or other obligations, regardless of where or by which person or entity the Escrow Account or such funds or assets shall be held. For purposes of this Agreement and Telesource's continuing security interest in the Escrow Account, the Agent shall maintain at its principal office at the address stated above in ________________, ________________, the funds and other assets comprising the Escrow Account or evidence of record and/or beneficial ownership thereof in accordance with the terms of this Agreement. This Agreement and the Escrow Account shall secure, for the benefit of Telesource and its successors and assign, all current and future obligations of CUC to Telesource pursuant to the Contract and the Notes and any successor instrument thereto. Each party hereto agrees and covenants to take all such action as may be reasonably requested of it to perfect Telesource's first priority security interest in the Escrow Account; provided however, that such security interest shall not be superior to the Agent's rights to be compensated or indemnified in accordance with the terms hereof. Without the prior written consent of Telesource, CUC will not sell, assign, transfer or otherwise dispose of, grant any option with respect to, or mortgage, pledge or otherwise encumber to any person other than Telesource all or part of the Escrow Account or any interest therein. If there occurs any change in the law, rules or regulation or any judicial decision or any other event or circumstance pertaining to or affecting rights of creditors in bankruptcy or insolvency proceedings the result of which would be to increase the likelihood in Telesource's view that the Escrow Account would not or may not be available to Telesource for the purposes described herein and in the Contract, CUC agrees, upon Telesource's request, (i) to negotiate in good faith with Telesource changes in this Agreement and/or the entire mechanism by which CUC's obligations under the Contract and the Notes are secured and (ii) to permit Telesource to hold the balance of the Escrow Account in an account in Telesource's name in an institution selected by Telesource, which institution shall have a combined capital and surplus of not less than $100 million. Telesource shall bear its own costs of such negotiations and associated document preparation. CUC shall not be obligated to accept any new arrangement which increases the amount of collateral that it must provide to secure its repayment and payment obligations under this Agreement. In the event that there is any change in the location of all or part of the Escrow Account, CUC agrees to take all action requested by Telesource to amend, modify or replace Telesource's filings perfecting its security interest in the Escrow Account, or to enable Telesource to effect any required new or additional filing to perfect its said security interest.
Valid Security Interest This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Sold Property in favor of the Issuer, which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and purchasers from the Depositor.
Security Interest and Collateral To secure the payment and performance of the Obligations, Borrower hereby grants Lender a security interest (herein called the "Security Interest") in the following Collateral, whether now owned or hereafter acquired by Borrower and wherever located, and all products and proceeds thereof: (a) Crops, whether annual or perennial, whether grown, growing or to be grown, and whether harvested or unharvested, the products and proceeds thereof and stored grain (including all of the foregoing designated as inventory) and any negotiable or nonnegotiable documents, scale tickets and the like resulting from the storage thereof; also seed, fertilizer, chemicals, and other supplies used or produced by Borrower in farming operations; also accounts, contract rights (including proceeds from insurance policies covering the other Collateral), instruments, documents and general intangibles, whether now owned or hereafter acquired and wherever located; hedging and commodity accounts or agreements, now or hereafter or in effect, together with all rights in and to such accounts or agreements and all payments due or to become due thereunder. (b) Livestock (including livestock in gestation) and their young, products and proceeds and progeny thereof and produce thereof, including all livestock designated as inventory; also feed, medicines and other supplies used or produced by Borrower in farming operations; also accounts, contract rights (including proceeds from insurance policies covering the other Collateral), instruments, documents and general intangibles, whether now owned or hereafter acquired and wherever located; hedging and commodity accounts or agreements, now or hereafter or in effect, together with all rights in and to such accounts or agreements and all payments due or to become due thereunder. (c) All of Borrower’s equipment and machinery, and all accessions and attachments thereto and replacements and substitutions therefore (the Equipment). Borrower shall not remove any of the Collateral from locations disclosed in this Agreement, nor sell, convey or encumber said Collateral, provided, however, that Borrower may sell said Collateral or any part thereof if, and only if: (i) the proceeds of such sale are made payable jointly to Lender and Borrower if requested by Xxxxxx, it being specifically understood and agreed that all Obligations secured by the Collateral to the extent of the sale price shall be due and payable at the time of such sale; and (ii) Borrower sells the Collateral only to buyers listed on the Credit Application if required pursuant to the terms of Subsection 2(c) below.
Security Interest Matters This Agreement creates a valid and continuing “security interest” (as defined in the Relevant UCC) in the Receivables in favor of the Trust, which security interest is prior to all other Liens and is enforceable as such as against creditors of and purchasers from the Depositor. The Receivables constitute “tangible chattel paper” or “electronic chattel paper” (each as defined in the Relevant UCC). The Depositor owns and has good and marketable title to the Receivables free and clear of any Lien, claim or encumbrance of any Person. The Depositor has caused or will cause prior to the Closing Date the filing of all appropriate financing statements in the proper filing offices in the appropriate jurisdictions under applicable law necessary to perfect the security interest in the Receivables granted to the Trust under this Agreement. Other than the security interest granted to the Trust under this Agreement, the Depositor has not pledged, assigned, sold, granted a security interest in or otherwise conveyed any of the Receivables. The Depositor has not authorized the filing of and is not aware of any financing statements against the Depositor that include a description of collateral covering the Receivables other than any financing statement relating to the security interest granted to the Trust under this Agreement or that has been terminated. The Depositor is not aware of any material judgment or tax lien filings against the Depositor. The security interest of the Seller in each Financed Vehicle has been validly assigned by the Depositor to the Trust. Neither the Depositor nor a custodian or vaulting agent thereof has communicated, nor will they communicate, an “authoritative copy” (as defined in the Relevant UCC) of any Receivable to any Person other than the Servicer, the Trust or the Indenture Trustee.
Security Interest/Priority This Security Agreement creates a valid security interest in favor of the Agent, for the benefit of the Lenders, in the Collateral of such Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.
Security Interest in Collateral The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law or agreement and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral.

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