Common use of Cross Default; Cross Collateral Clause in Contracts

Cross Default; Cross Collateral. All other agreements between Borrower and Lender and/or any of Lender's affiliates or subsidiaries are hereby amended so that a default under this Agreement is a default under all other agreements and a default under any one of the other agreements is a default under this Agreement. Further, such agreements are amended so that the Collateral under this Agreement secures the Obligations now or hereafter outstanding under all other agreements of Borrower with Lender and/or Lender's affiliates or subsidiaries and the collateral pledged under any other agreement with Lender and/or its affiliates or subsidiaries secures the Obligations under this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bogen Communications International Inc), Loan and Security Agreement (Programmers Paradise Inc)

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Cross Default; Cross Collateral. All Each Borrower hereby agrees that (a) all other agreements between Borrowers or either Borrower and Lender and/or or any of Lender's affiliates or subsidiaries Affiliates are hereby amended so that a default under this Agreement is a default under all such other agreements and a default under any one of the other agreements is a default under this Agreement. Further, such agreements are amended so that and (b) the Collateral under this Agreement secures the Obligations now or hereafter outstanding under all other agreements between either Borrower and Lender or any of Borrower with Lender and/or Lender's affiliates or subsidiaries Affiliates and the collateral Collateral pledged under any other agreement with Lender and/or or any of its affiliates or subsidiaries Affiliates secures the Obligations under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (A Consulting Team Inc)

Cross Default; Cross Collateral. All Borrower hereby agrees that (a) all other agreements between Borrowers or either Borrower and Lender and/or or any of Lender's affiliates or subsidiaries Affiliates are hereby amended so that a default under this Agreement is a default under all such other agreements and a default under any one of the other agreements is a default under this Agreement. Further, such agreements are amended so that and (b) the Collateral under this Agreement secures the Obligations now or hereafter outstanding under all other agreements between Borrower and Lender or any of Borrower with Lender and/or Lender's affiliates or subsidiaries Affiliates and the collateral Collateral pledged under any other agreement with Lender and/or or any of its affiliates or subsidiaries Affiliates secures the Obligations under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (A Consulting Team Inc)

Cross Default; Cross Collateral. All other agreements between Borrower Borrowers, or either of them, and Lender Bank and/or any of Lender's affiliates its Affiliates or subsidiaries are hereby amended so that a default an Event of Default under this Agreement is a default under all other agreements and a default under any one of the other those agreements is a default an Event of Default under this Agreement. Further, All such agreements are further amended so that the Collateral under this Agreement secures the Obligations obligations now or hereafter outstanding under all other agreements of Borrower with Lender Bank and/or Lender's affiliates its Affiliates or subsidiaries subsidiaries, and the collateral pledged which serves as security under any other agreement with Lender Bank and/or its affiliates Affiliates or subsidiaries secures the Obligations under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Sel-Leb Marketing Inc)

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Cross Default; Cross Collateral. All Borrowers hereby agree that (a) all other agreements between Borrowers or either Borrower and Lender and/or or any of Lender's affiliates or subsidiaries Affiliates are hereby amended so that a default under this Agreement is a default under all such other agreements and a default under any one of the other agreements is a default under this Agreement. Further, such agreements are amended so that and (b) the Collateral under this Agreement secures the Obligations now or hereafter outstanding under all other agreements between Borrower and Lender or any of Borrower with Lender and/or Lender's affiliates or subsidiaries Affiliates and the collateral Collateral pledged under any other agreement with Lender and/or or any of its affiliates or subsidiaries Affiliates secures the Obligations under this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Afp Imaging Corp)

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