Common use of Cross-Collateralization Clause in Contracts

Cross-Collateralization. All Collateral which Lender may at any time acquire from Borrower or from any other source in connection with Obligations arising under this Agreement and the other Financing Agreements shall constitute collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations, however and whenever incurred, shall be secured by all Collateral however and whenever acquired, and Lender shall have the right, in its sole discretion, to determine the order in which Lender's rights in or remedies against any Collateral are to be exercised and which type of Collateral or which portions of Collateral are to be proceeded against and the order of application of proceeds of Collateral as against particular Obligations.

Appears in 4 contracts

Samples: Loan and Security Agreement (Saztec International Inc), Netplex Group Inc, Netplex Systems Inc

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Cross-Collateralization. All Collateral which Lender may at any time acquire from Borrower Borrowers or from any other source in connection with Obligations arising under this Agreement and the other Financing Agreements shall constitute collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations, however and whenever incurred, shall be secured by all Collateral however and whenever acquired, and Lender shall have the right, in its sole discretion, to determine the order in which Lender's rights in or remedies against any Collateral are to be exercised and which type of Collateral or which portions of Collateral are to be proceeded against and the order of application of proceeds of Collateral as against particular Obligations.

Appears in 3 contracts

Samples: Loan and Security Agreement (Industrial Technologies Inc), Loan and Security Agreement (Memry Corp), Loan and Security Agreement (Cycomm International Inc)

Cross-Collateralization. All Collateral which Lender may at any time acquire from Borrower or from any other source in connection with Obligations arising under this Agreement and the other Financing Agreements shall constitute collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations, however and whenever incurred, shall be secured by all Collateral however and whenever acquired, and Lender shall have the right, in its sole discretion, to determine the order in which Lender's rights in or remedies against any Collateral are to be exercised and which type of Collateral or which portions of Collateral are to be proceeded against and the order of application of proceeds of Collateral as against particular Obligations.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Memry Corp), Credit and Security Agreement (Memry Corp)

Cross-Collateralization. All Collateral collateral which Lender may at any time acquire from Borrower Obligors or from any other source in connection with the Obligations arising under this Agreement and the other Financing Agreements Loan Documents shall constitute collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations, however and whenever incurred, shall be secured by all Collateral collateral however and whenever acquired, and Lender shall have the right, in its sole discretion, to determine the order in which Lender's rights in or remedies against any Collateral collateral are to be exercised and which type of Collateral collateral or which portions of Collateral collateral are to be proceeded against and the order of application of proceeds of Collateral collateral as against particular Obligations.

Appears in 2 contracts

Samples: Agreement (Vermont Pure Holdings LTD/De), Loan and Security Agreement (Vermont Pure Holdings LTD/De)

Cross-Collateralization. All Collateral collateral which the Lender may at any time acquire from the Borrower or from any other source in connection with Obligations arising under this Agreement and the other Financing Agreements Loan Documents shall constitute collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations. All Obligations, however and whenever incurred, shall be secured by all Collateral collateral however and whenever wherever acquired, and . The Lender shall have the right, in its sole discretion, to determine the order in which the Lender's rights in or remedies against any Collateral collateral are to be exercised and which type of Collateral collateral or which portions of Collateral collateral are to be proceeded against and the order of application of proceeds of Collateral collateral as against particular Obligations.

Appears in 1 contract

Samples: Commercial Term Loan Agreement (Bonds.com Group, Inc.)

Cross-Collateralization. All Collateral which Lender may at any time acquire from Borrower or from any other source in connection with Obligations arising under this Agreement and the other Financing Agreements shall constitute collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations, however and whenever incurred, shall be secured by all Collateral however and whenever acquired, and Lender shall have the right, in its sole discretion, to determine the order in which Lender's ’s rights in or remedies against any Collateral are to be exercised and which type of Collateral or which portions of Collateral are to be proceeded against and the order of application of proceeds of Collateral as against particular Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Memry Corp)

Cross-Collateralization. All Collateral collateral which Lender the Bank may at any time acquire on behalf of the Bank from Borrower the Company or from any other source in connection with Obligations arising under this Agreement and the other Financing Agreements shall constitute collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations, however and whenever incurred, shall be secured by all Collateral however and whenever acquired, and Lender the Bank shall have the right, in its sole discretion, to determine the order in which Lenderthe Bank's rights in or remedies against any Collateral are to be exercised and which type of Collateral or which portions of Collateral are to be proceeded against and the order of application of proceeds of Collateral as against particular Obligations.

Appears in 1 contract

Samples: Marine Management Systems Inc

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Cross-Collateralization. All Collateral which Lender the Lenders may at any time acquire from the Borrower or Guarantors or from any other source in connection with the Obligations arising under this Agreement and the other Financing Agreements Loan Documents shall constitute collateral Collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations. All Obligations, however and whenever incurred, incurred shall be secured by all Collateral of the Collateral, however and whenever acquired, and Lender . The Lenders shall have the right, right in its their sole discretion, discretion to determine the order in which Lender's the Lenders' rights in or remedies against any Collateral are to be exercised and which type of Collateral or which portions of Collateral are to be proceeded proceeding against and the order of application of proceeds of Collateral as against particular Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Trans Lux Corp)

Cross-Collateralization. All Collateral collateral which Agent or any Lender may at any time acquire from Borrower Obligors or from any other source in connection with the Obligations arising under this Agreement and the other Financing Agreements Loan Documents shall constitute collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations, however and whenever incurred, shall be secured by all Collateral collateral however and whenever acquired, and Lender Agent shall have the right, in its sole discretion, to determine the order in which Lender's Agent and Lenders' rights in or remedies against any Collateral collateral are to be exercised and which type of Collateral collateral or which portions of Collateral collateral are to be proceeded against and the order of application of proceeds of Collateral collateral as against particular Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Vermont Pure Holdings LTD/De)

Cross-Collateralization. All Collateral which the Lender may at any time acquire from the Borrower or Guarantors or from any other source in connection with the Obligations arising under this Agreement and the other Financing Agreements Loan Documents shall constitute collateral Collateral for each and every Obligation, without apportionment or designation as to particular Obligations and that all Obligations. All Obligations, however and whenever incurred, incurred shall be secured by all Collateral of the Collateral, however and whenever acquired, and . The Lender shall have the right, right in its sole discretion, discretion to determine the order in which the Lender's rights in or remedies against any Collateral are to be exercised and which type of Collateral or which portions of Collateral are to be proceeded proceeding against and the order of application of proceeds of Collateral as against particular Obligations.

Appears in 1 contract

Samples: Commercial Loan and Security Agreement (Trans Lux Corp)

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