Due on Sale or Encumbrance. You may, at your option, declare the entire balance of this Agreement to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. However, if I am in default under this Agreement, I may not sell the inventory portion of the Property even in the ordinary course of business.
Appears in 3 contracts
Samples: Security Agreement (Widepoint Corp), Security Agreement (CTD Holdings Inc), Security Agreement (ProUroCare Medical Inc.)
Due on Sale or Encumbrance. You may, at your option, declare the entire balance of this Agreement to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 112 C.F.R. 591), as applicable. However, if I am in default under this Agreement, I may not sell the inventory portion of the Property even in the ordinary course of business.
Appears in 3 contracts
Samples: Security Agreement (ProUroCare Medical Inc.), Security Agreement (ProUroCare Medical Inc.), Security Agreement (ProUroCare Medical Inc.)
Due on Sale or Encumbrance. You may, at your option, declare the entire balance of this Agreement to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591), as applicable. However, if I am in default under this Agreement, I may not sell the inventory portion of the Property even in the ordinary course of business.
Appears in 2 contracts
Samples: Security Agreement (Manitex International, Inc.), Security Agreement (CTD Holdings Inc)
Due on Sale or Encumbrance. You may, at your option, declare the entire balance of this Agreement to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591)law, as applicable. However, if I am in default under this Agreement, I may not sell the inventory portion of the Property even in the ordinary course of business.
Appears in 2 contracts
Samples: Security Agreement, Security Agreement (Golsen Jack E)
Due on Sale or Encumbrance. You may, at your option, declare the entire balance of this Agreement to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591)law, as applicable. However, if I am in default under this Agreement, I may not sell the inventory portion of the Property even in the ordinary course of business.
Appears in 1 contract
Due on Sale or Encumbrance. You may, at your option, declare the entire balance of this Agreement to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 112 C.F.R. 591), as applicable. However, if I am we are in default under this Agreement, I we may not sell the inventory portion of the Property even in the ordinary course of business.
Appears in 1 contract
