DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this Agreement:
DESCRIPTION OF OBLIGATION. The following obligations (collectively, "Obligation") are secured by this agreement:
a. All debt, obligations, liabilities and agreements of any nature of the Company to the Secured Parties or any Secured Party, whether matured or unmatured, fixed or contingent, including all future advances, now or hereafter existing, arising pursuant to or in connection with (i) this agreement; (ii) the Credit Agreement; (iii) all other Loan Documents; and (iv) all amendments, modifications, renewals, extensions, increases, substitutions or rearrangements of any of the foregoing.
b. All costs incurred by the Administrative Agent or any Secured Party to obtain, preserve, perfect and enforce this agreement, the other Loan Documents, and the pledge and security interest granted hereby, collect the Obligation, and maintain, preserve, collect and enforce the Collateral, including without limitation taxes, assessments, reasonable attorneys' fees and legal expenses, and expenses of sale.
c. Interest on the above amounts as agreed between the Company and the Secured Parties, including, without limitation, interest, fees and other charges that would accrue or become owing both prior to and subsequent to and but for the commencement of any proceeding against or with respect to any Company under any chapter of the Bankruptcy Code of 1978, 11 U.S.C. Section 101 ET SEQ. whether or not a claim is allowed for the same in any such proceeding.
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.
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; (
DESCRIPTION OF OBLIGATION. The following obligations (collectively, ------------------------- the "Obligation") are secured by this Agreement:
a. All debt, obligations, liabilities and agreements of any nature of Pledgor and the Borrower to the Secured Parties or any Secured Party, whether matured or unmatured, fixed or contingent, including all future advances, now or hereafter existing, in each case arising pursuant to or in connection with (i) this Agreement; (ii) the Credit Agreement; (iii) all other Loan Documents; and (iv) all amendments, modifications, renewals, extensions, increases, substitutions or rearrangements of any of the foregoing.
b. All reasonable out-of-pocket costs incurred by the Administrative Lender or any Secured Party necessary to obtain, preserve, perfect and enforce this Agreement, the other Loan Documents, and the pledge and security interest granted hereby, collect the Obligation, and maintain, preserve, collect and enforce the Collateral, including without limitation taxes, assessments, reasonable attorneys' fees and reasonable legal expenses, and reasonable expenses of sale.
c. Interest on the above amounts as agreed between the Borrower and the Secured Parties, including, without limitation, interest, reasonable fees and other charges that would accrue or become owing both prior to and subsequent to and but for the commencement of any proceeding against or with respect to Borrower under any chapter of the Bankruptcy Code of 1978, 11 U.S.C. (S) 101 et seq. whether or not a claim is allowed for the same in -- --- any such proceeding.
DESCRIPTION OF OBLIGATION. The following obligations (collectively, the "Obligations") are secured by this Agreement:
(1) All debt, obligations, liabilities and agreements of any nature of Pledgor and Parent to Secured Party and each Lender, whether matured or unmatured, fixed or contingent, including all future advances, now or hereafter existing, arising pursuant to or in connection with (A) this Agreement; (B) the Credit Agreement; (C) all other Financing Documents; and (D) all amendments, modifications, renewals, extensions, increases, substitutions or rearrangements of any of the foregoing. 105
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).
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; (c) All debt, obligations and liabilities of MiliRisk, Inc. to Bank of the kinds described in this Section 3 A.; and
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.
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
