DESCRIPTION OF OBLIGATION Sample Clauses

DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this Agreement:
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DESCRIPTION OF OBLIGATION. The following obligations ("Obligation') are secured by this Agreement: i. All Debt: All debts, obligations, liabilities and agreements of Pledgor and/or Xxxxxxx X. Xxx and Xxxxx X. Xxx to Bank, now or hereafter existing, arising directly or indirectly between Xxxxxxx and Bank whether absolute or contingent, joint or several, secured or unsecured, due or not due, liquidated or unliquidated, arising by operation of law or otherwise, and all, renewals, extensions and rearrangements of any of the above; R. All costs and expenses incurred by Bank, including attorney's fees, to obtain, preserve, perfect, enforce and defend this Agreement and maintain, preserve, collect and realize upon the Collateral, together with interest thereon at the highest rate allowed by law, or if none, 25% per annum; W. All ame,'r,t ,...hirh mw he owed to Bank pursuant to all other loan documents executed in connection with the indebtedness described in subpart i. above. In the event any amount paid to Bank on any Obligation is subsequently recovered from Bank in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding involving an obligor of the Obligation other than Pledgor, Xxxxxxx shall be liable to Bank for the amounts so recovered up to the fair market value of the Collateral whether or not the Collateral has been released or the security interest terminated. In the event the Collateral has been released or the security. interest terminated, the fair market value of the Collateral shall be determined, at Bank's option, as of the date the Collateral. was released, the security interest terminated, or said amounts were recovered. B.
Sample 1See All (5)
DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this agreement: (a) All debts, obligations, liabilities and agreements of Debtor to Bank, now or hereafter existing, arising directly or indirectly between Debtor and Bank whether absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation of law or otherwise, and all renewals, extensions or rearrangement of any of the above; (b) Bank's participation in any loan or other debt of Debtor to another person; (c) All costs incurred by Bank to obtain, preserve, perfect and enforce this agreement and maintain, preserve, collect and enforce the Collateral; (d) Interest on the above amounts as agreed between Bank and Debtor; (e) All debt, obligations and liabilities of
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DESCRIPTION OF OBLIGATION. The following obligations (collectively, ------------------------- the "Obligation") are secured by this Agreement:
Sample 1
DESCRIPTION OF OBLIGATION. All debt, obligations, liabilities and agreements of Westar under the Westar Guaranty (collectively, "Guaranty Obligation") are secured by this agreement.
Sample 1
DESCRIPTION OF OBLIGATION. ISP has agreed to repay to KVN the $115,000.00 loan at 11% interest over 18 months at a payment of $7,443.05 per month with the personal guarantee of Mark Fincanxxx. XXX xxx xurther agreed to move certain equipment, set forth in Exhibit A hereto, from its present location in Cumming, Georgia to 337 Carowinxx Xxxxxxxxx, Xxxxx 000, Xx. Xxxx, Xxxxx Xxxxxxxx xxx xxx xxternet portal and websites created for or on behalf of KVN and its associated companies together with all associated software and computer hardware and all copyrighted proprietary intellectual property rights and interest associated therewith being assigned to Vision ISP, Inc. ISP will install the said equipment together with any additional equipment located at the site and secure the operational integrity of the installed system and equipment. ISP and Mark Fincanxxx, xxxxxxxxxlly, have agreed to maintain the internet portal service and television streaming then installed at Ft. Mill in optimum condition for a period of one year after installation. ISP will contemporaneously with this agreement assign the following domain names to the companies listed next thereto: kvn.cc Kingdom Vision Network, Inc. thevisionchxxxxx.xxx The Vision Network, Inc. thevisionchxxxxx.xxx The Vision Network, Inc. kvnstore.cox Kingdom Vision Network, Inc. visionisp.cxx Vision ISP, Inc. visionisp.nxx Vision ISP, Inc. the kingdomchanxxx.xxx Kingdom Vision Network, Inc. the kingdomchanxxx.xxx Kingdom Vision Network, Inc. the kingdomchanxxx.xxx Kingdom Vision Network, Inc. kingdomchanxxx.xxx Kingdom Vision Network, Inc. kingdomchanxxx.xxx Kingdom Vision Network, Inc. tkingdomchaxxxx.xxx Kingdom Vision Network, Inc.
Sample 1
DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this agreement: (a) All debts, obligations, liabilities and agreements of Debtor to Bank, now or hereafter existing, arising directly or indirectly between Debtor and Bank whether absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation of law or otherwise, and all renewals, extensions or rearrangement of any of the above, (b) Bank's participation in any loan or other debt of Debtor to another person; (c) All costs incurred by Bank to obtain, preserve, perfect and enforce this agreement and maintain, preserve, collect and enforce the Collateral; (d) Interest on the above amounts as agreed between Bank and Debtor; (e) All debt, obligations and liabilities of Elcotel, Inc., a Delaware corporation
Sample 1
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DESCRIPTION OF OBLIGATION. This Agreement creates a security interest in the Collateral to secure the payment and performance of any and all obligations now or hereafter existing of Pledgor and each Subsidiary of Pledgor (collectively, "Obligors") under the Credit Agreement and the other Loan Documents, including any extensions, modifications, substitutions, amendments and renewals thereof, whether for principal, interest, fees, premium, expenses, reimbursement obligations, indemnification or otherwise (all such obligations of Pledgor and each other Obligor being the "Secured Obligation"). Without limiting the generality of the foregoing, this Agreement secures the payment of all amounts which constitute part of the Secured Obligation and would be owed by Pledgor or any other Obligor to Agent or any other Secured Party under any Loan Document, but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding under any applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, insolvency, reorganization or similar debtor relief Laws affecting the rights of creditors generally from time to time in effect ("Debtor Relief Laws") involving Pledgor, any other Obligor or any other Person (including all such amounts which would become due or would be secured but for the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding of Pledgor, any other Obligor or any other Person under any Debtor Relief Law).
Sample 1
DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this Agreement: (a) All debts, obligations, liabilities and agreements of Debtor to Bank, now or hereafter existing, arising under the Loan Documents, including, without limitation, all of the "Obligations" as defined in the Loan Agreement referred to in Section 8 C. hereof; (b) All reasonable out-of-pocket costs incurred by Bank to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and realize upon the Collateral; and (c) All other COStS and attorney's fees incurred by Bank, for which Debtor is obligated to reimburse Bank in accordance with the terms of the Loan Documents (hereinafter defined), together with interest at Bank's prime rate. If Debtor is not the obligor of the Obligation, and in the event any amount paid to Bank on any Obligation is subsequently recovered from Bank in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding, Debtor shall be liable to Bank for the amounts so recovered up to the fair market value of the Collateral whether or not the Collateral has been released or the security interest terminated. In the event the Collateral has been released or the security interest terminated, the fair market value of the Collateral shall be determined, at Bank's option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.
Sample 1

Related to DESCRIPTION OF OBLIGATION

  • Assumption of Obligations Any buyer or transferee of Lessor's interest in this Lease shall be deemed to have assumed Lessor's obligation hereunder. Each Broker shall be a third party beneficiary of the provisions of Paragraphs 1.10, 15, 22 and 31. If Lessor fails to pay to a Broker any amounts due as and for commissions pertaining to this Lease when due, then such amounts shall accrue Interest. In addition, if Lessor fails to pay any amounts to Lessee's Broker when due, Lessee's Broker may send written notice to Lessor and Lessee of such failure and if Lessor fails to pay such amounts within ten (10) days after said notice, Lessee shall pay said monies to its Broker and offset such amounts against Rent. In addition, Lessee's Broker shall be deemed to be a third party beneficiary of any commission agreement entered into by and/or between Lessor and Lessor's Broker.

  • Duration of Obligations The Manager’s obligation to provide Disentanglement Services will continue during the period commencing on the date that a Termination Notice is delivered and ending on the date on which the Successor Manager or the re-engaged Manager assumes all of the obligations of the Manager hereunder (the “Disentanglement Period”).

  • Affirmation of Obligations Each of the Credit Parties hereby acknowledges, agrees and affirms (a) its obligations under the Credit Agreement and the other Loan Documents, including, without limitation, its guaranty obligations thereunder, (b) that such guaranty shall apply to the Obligations in accordance with the terms thereof, (c) the grant of the security interest in all of its assets pursuant to the Loan Documents and (d) that such liens and security interests created and granted are valid and continuing and secure the Obligations in accordance with the terms thereof.

  • Reaffirmation of Obligations Each Loan Party (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations under the Loan Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge such Loan Party’s obligations under the Loan Documents.

  • Confirmation of Obligations Executive hereby confirms and agrees to his continuing obligation under the Agreement after termination of employment not to directly or indirectly disclose to third parties or use any Confidential Information (as defined in the Agreement) that he may have acquired, learned, developed, or created by reason of his employment with the Company.

  • Termination of Obligations Termination of this Agreement pursuant to Section 10.1 hereof shall terminate all obligations of the parties hereunder, except for the obligations under Article IX, Article X, and Sections 11.4, 11.7, 11.14, 11.15 and 11.16 hereof; provided, however, that termination pursuant to paragraphs (b) or (c) of Section 10.1 shall not relieve the defaulting or breaching party or parties from any liability to the other parties hereto.

  • Payment of Obligation 41 10.2 Covenants......................................................................... 41

  • Suspension of Obligations Without prejudice to the foregoing, so long as a Party shall be in default in payment or performance to the other Party under the Agreement and the other Party has not exercised its rights under this Section 8, or, if "Adequate Assurances" is specified as applying to the Agreement in Part XI of the Schedule, during the pendency of a reasonable request to a Party for adequate assurances of its ability to perform its obligations under the Agreement, the other Party may, at its election and without penalty, suspend its obligation to perform under the Agreement.

  • Mitigation of Obligations If any Lender requests compensation under Section 2.18, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.20, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the sole judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable under Section 2.18 or Section 2.20, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all costs and expenses incurred by any Lender in connection with such designation or assignment.

  • Payment of Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be.

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