Common use of Electronic Chattel Paper and Transferable Records Clause in Contracts

Electronic Chattel Paper and Transferable Records. If any Borrower at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower shall promptly notify Agent thereof and, at the request of Agent, shall take such action as Agent may reasonably request to vest in Agent control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent agrees with Borrowers that Agent will arrange, pursuant to procedures reasonably satisfactory to Agent and so long as such procedures will not result in Agent’s loss of control, for such Borrower to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 4 contracts

Samples: Loan and Security Agreement (Cmgi Inc), Loan and Security Agreement (ModusLink Global Solutions Inc), Loan and Security Agreement (Cmgi Inc)

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Electronic Chattel Paper and Transferable Records. If any Borrower at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower shall promptly notify Agent Lender thereof and, at the request of AgentLender, shall take such action as Agent Lender may reasonably request to vest in Agent Lender control under Section 9-105 of the UCC Code of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent Lender agrees with Borrowers that Agent Lender will arrange, pursuant to procedures reasonably satisfactory to Agent Lender and so long as such procedures will not result in AgentLender’s loss of control, for such Borrower Borrowers to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC Code or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 3 contracts

Samples: Loan and Security Agreement (Adcare Health Systems, Inc), Loan and Security Agreement (Adcare Health Systems Inc), Loan and Security Agreement (Adcare Health Systems Inc)

Electronic Chattel Paper and Transferable Records. If any Borrower the Debtor at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower the Debtor shall promptly notify Agent the Bank thereof and, at the request of Agentthe Bank, shall take such action as Agent the Bank may reasonably request to vest in Agent the Bank control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Bank agrees with Borrowers the Debtor that Agent the Bank will arrange, pursuant to procedures reasonably satisfactory to Agent the Bank and so long as such procedures will not result in Agentthe Bank’s loss of control, for such Borrower the Debtor to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 3 contracts

Samples: Security Agreement (Venus Concept Inc.), Security Agreement (Venus Concept Inc.), Security Agreement (Venus Concept Inc.)

Electronic Chattel Paper and Transferable Records. If any Borrower such Grantor shall at any time holds hold or acquires an interest acquire interests in any electronic chattel paper or any “transferable record”, ,” as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, Act or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower Grantor shall promptly notify the Agent thereof and, at the request of the Agent, shall take such action as the Agent may reasonably request to vest in the Agent control control, under Section 9-105 of the UCC UCC, of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Agent agrees with Borrowers such Grantor that the Agent will shall arrange, pursuant to procedures reasonably satisfactory to the Agent and so long as such procedures will not result in the Agent’s loss of control, for such Borrower Grantor to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of controlAct, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower Grantor with respect to such electronic chattel paper or transferable record.

Appears in 3 contracts

Samples: Guarantee and Collateral Agreement (CareView Communications Inc), Security Agreement (Avinger Inc), Security Agreement (Avinger Inc)

Electronic Chattel Paper and Transferable Records. If any Borrower Grantor at any time holds or acquires an interest in any electronic chattel paper Electronic Chattel Paper or any “transferable record”, as that term is defined in Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower Grantor shall promptly notify the Agent thereof and, at the request of the Agent, shall take such action as the Agent may reasonably request to vest in the Agent control under New York UCC Section 9-105 of the UCC of such electronic chattel paper Electronic Chattel Paper or control under Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Agent agrees with Borrowers such Grantor that the Agent will arrange, pursuant to procedures reasonably satisfactory to the Agent and so long as such procedures will not result in the Agent’s loss of control, for such Borrower the Grantor to make alterations to the electronic chattel paper Electronic Chattel Paper or transferable record permitted under UCC Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower Grantor with respect to such electronic chattel paper Electronic Chattel Paper or transferable record.

Appears in 2 contracts

Samples: Credit Agreement (TransDigm Group INC), Credit Agreement (TransDigm Group INC)

Electronic Chattel Paper and Transferable Records. If any Borrower Grantor at any time holds or acquires an interest in any electronic chattel paper Electronic Chattel Paper or any “transferable record”, as that term is defined in Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower Grantor shall promptly notify the Agent thereof and, at the request of the Agent, shall take such action as the Agent may reasonably request to vest in the Agent control under New York UCC Section 9-105 of the UCC of such electronic chattel paper Electronic Chattel Paper or control under Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Agent agrees with Borrowers such Grantor that the Agent will arrange, pursuant to procedures reasonably satisfactory to the Agent and so long as such procedures will not result in the Agent’s loss of control, for such Borrower the Grantor to make alterations to the electronic chattel paper Electronic Chattel Paper or transferable record permitted under UCC Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower Grantor with respect to such electronic chattel paper Electronic Chattel Paper or transferable record.

Appears in 2 contracts

Samples: Collateral Agreement (TransDigm Group INC), Collateral Agreement (TransDigm Group INC)

Electronic Chattel Paper and Transferable Records. If any Borrower Grantor at any time holds or acquires an interest in any electronic chattel paper Electronic Chattel Paper or any “transferable record”, ,” as that term is defined in Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower Grantor shall promptly notify the Collateral Agent thereof and, at the request of Agent, and shall take such action as Agent may reasonably request necessary to vest in the Collateral Agent control under New York UCC Section 9-105 of the UCC of such electronic chattel paper Electronic Chattel Paper or control under Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Collateral Agent agrees with Borrowers such Grantor that the Collateral Agent will arrange, pursuant to procedures reasonably satisfactory to the Collateral Agent and so long as such procedures will not result in the Collateral Agent’s loss of control, for such Borrower the Grantor to make alterations to the electronic chattel paper Electronic Chattel Paper or transferable record permitted under UCC Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower Grantor with respect to such electronic chattel paper Electronic Chattel Paper or transferable record.

Appears in 2 contracts

Samples: Security Agreement (Shea Homes Limited Partnership), Security Agreement (Vistancia Marketing, LLC)

Electronic Chattel Paper and Transferable Records. If any Borrower the Company at any time holds or acquires an interest in any electronic chattel paper or any "transferable record”, ," as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower the Company shall promptly notify Agent the Lender thereof and, at the request of Agentthe Lender, shall take such action as Agent the Lender may reasonably request to vest in Agent the Lender control under UCC Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Lender agrees with Borrowers the Company that Agent the Lender will arrange, pursuant to procedures reasonably satisfactory to Agent the Lender and so long as such procedures will not result in Agent’s the Lender's loss of control, for such Borrower the Company to make alterations to the electronic chattel paper or transferable record permitted under UCC Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower the Company with respect to such electronic chattel paper or transferable record.

Appears in 2 contracts

Samples: Subordinated Loan Agreement (Rurbanc Data Services Inc), Subordinated Loan Agreement (Rurbanc Data Services Inc)

Electronic Chattel Paper and Transferable Records. If any the Borrower at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such the Borrower shall promptly notify Agent the Bank thereof and, at the request of Agentthe Bank, shall take such action as Agent the Bank may reasonably request to vest in Agent the Bank control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Bank agrees with Borrowers the Borrower that Agent the Bank will arrange, pursuant to procedures reasonably satisfactory to Agent the Bank and so long as such procedures will not result in Agentthe Bank’s loss of control, for such the Borrower to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such the Borrower with respect to such electronic chattel paper or transferable record.

Appears in 2 contracts

Samples: Loan and Security Agreement (Huron Consulting Group Inc.), Loan and Security Agreement (Huron Consulting Group Inc.)

Electronic Chattel Paper and Transferable Records. If any the Borrower at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such the Borrower shall promptly notify Agent the Bank thereof and, at the request of Agentthe Bank, shall take such action as Agent the Bank may reasonably request to vest in Agent the Bank control under Section 9-105 of the UCC Code of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Bank agrees with Borrowers the Borrower that Agent the Bank will arrange, pursuant to procedures reasonably satisfactory to Agent the Bank and so long as such procedures will not result in Agentthe Bank’s loss of control, for such the Borrower to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC Code or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 2 contracts

Samples: Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.)

Electronic Chattel Paper and Transferable Records. If any Borrower Debtor at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower Debtor shall promptly notify Agent the Bank thereof and, at the request of Agentthe Bank, shall take such action as Agent the Bank may reasonably request to vest in Agent the Bank control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Bank agrees with Borrowers Debtor that Agent the Bank will arrange, pursuant to procedures reasonably satisfactory to Agent the Bank and so long as such procedures will not result in Agentthe Bank’s loss of control, for such Borrower any Debtor to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 1 contract

Samples: Security Agreement (Coda Octopus Group, Inc.)

Electronic Chattel Paper and Transferable Records. If any Borrower Grantor at any time holds or acquires an interest in any electronic chattel paper Electronic Chattel Paper or any “transferable record”, Atransferable record,@ as that term is defined in Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower Grantor shall promptly notify the Agent thereof and, at the request of the Agent, shall take such action as the Agent may reasonably request to vest in the Agent control under New York UCC Section 9-105 of the UCC of such electronic chattel paper Electronic Chattel Paper or control under Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Agent agrees with Borrowers such Grantor that the Agent will arrange, pursuant to procedures reasonably satisfactory to the Agent and so long as such procedures will not result in the Agent’s loss of control, for such Borrower the Grantor to make alterations to the electronic chattel paper Electronic Chattel Paper or transferable record permitted under UCC Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower Grantor with respect to such electronic chattel paper Electronic Chattel Paper or transferable record.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Transdigm Inc)

Electronic Chattel Paper and Transferable Records. If any Borrower Grantor at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, ,” as that term is defined in Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act Act, as in effect in any relevant jurisdiction, such Borrower Grantor shall promptly notify the Administrative Agent thereof and, at the request of the Administrative Agent, shall take such action as the Administrative Agent may reasonably request to vest in the Administrative Agent control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Administrative Agent agrees with Borrowers such Grantor that the Administrative Agent will arrange, pursuant to procedures reasonably satisfactory to the Administrative Agent and so long as such procedures will not result in the Administrative Agent’s loss of control, for such Borrower the Grantor to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower Grantor with respect to such electronic chattel paper or transferable record.. Exhibit 10.3

Appears in 1 contract

Samples: Pledge and Security Agreement (Preferred Apartment Communities Inc)

Electronic Chattel Paper and Transferable Records. If any Borrower at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower shall promptly notify Agent Lender thereof and, at the request of AgentLender, shall take such action as Agent Lender may reasonably request to vest in Agent Lender control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent Lxxxxx agrees with Borrowers Borrower that Agent Lxxxxx will arrange, pursuant to procedures reasonably satisfactory to Agent Lender and so long as such procedures will not result in Agent’s Lxxxxx's loss of control, for such Borrower to make alterations to the electronic chattel paper or transferable record permitted under Section 9-9- 105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 1 contract

Samples: Security Agreement (Presto Automation Inc.)

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Electronic Chattel Paper and Transferable Records. If any Borrower Grantor at any time holds or acquires an interest in any electronic chattel paper or any "transferable record”, ," as that term is defined in Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act Act, as in effect in any relevant jurisdiction, such Borrower Grantor shall promptly notify the Administrative Agent thereof and, at the request of the Administrative Agent, shall take such action as the Administrative Agent may reasonably request to vest in the Administrative Agent control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Administrative Agent agrees with Borrowers such Grantor that the Administrative Agent will arrange, pursuant to procedures reasonably satisfactory to the Administrative Agent and so long as such procedures will not result in the Administrative Agent’s 's loss of control, for such Borrower the Grantor to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower Grantor with respect to such electronic chattel paper or transferable record.

Appears in 1 contract

Samples: Pledge and Security Agreement (Eastern Co)

Electronic Chattel Paper and Transferable Records. If any Borrower the Debtor at any time holds or acquires an interest in any electronic chattel paper or any "transferable record", as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower the Debtor shall promptly notify Agent the Bank thereof and, at the request of Agentthe Bank, shall take such action as Agent the Bank may reasonably request to vest in Agent the Bank control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Bank agrees with Borrowers the Debtor that Agent the Bank will arrange, pursuant to procedures reasonably satisfactory to Agent the Bank and so long as such procedures will not result in Agent’s the Bank's loss of control, for such Borrower the Debtor to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 1 contract

Samples: Security Agreement (Argyle Security, Inc.)

Electronic Chattel Paper and Transferable Records. If any Borrower the Debtor at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower the Debtor shall promptly notify Agent the Bank thereof and, at the request of Agentthe Bank, shall take such action as Agent the Bank may reasonably request to vest in Agent the Bank control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Bank agrees with Borrowers the Debtor that Agent the Bank will arrange, pursuant to procedures reasonably satisfactory to Agent the Bank and so long as such procedures will not result in Agent’s the Bank's loss of control, for such Borrower the Debtor to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 1 contract

Samples: Security Agreement (Ivax Diagnostics Inc)

Electronic Chattel Paper and Transferable Records. If any Borrower at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower shall promptly notify Agent Lender thereof and, at the request of AgentLender, shall take such action as Agent Lender may reasonably request to vest in Agent Lender control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent Lender agrees with Borrowers Borrower that Agent Lender will arrange, pursuant to procedures reasonably satisfactory to Agent Lender and so long as such procedures will not result in AgentLender’s loss of control, for such Borrower to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 1 contract

Samples: Loan and Security Agreement (Ari Network Services Inc /Wi)

Electronic Chattel Paper and Transferable Records. If any Borrower at any time holds or acquires an interest in any electronic chattel paper or any "transferable record", as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower shall promptly notify Agent the Bank thereof and, at the request of Agentthe Bank, shall take such action as Agent the Bank may reasonably request to vest in Agent the Bank control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Bank agrees with Borrowers Borrower that Agent the Bank will arrange, pursuant to procedures reasonably satisfactory to Agent the Bank and so long as such procedures will not result in Agent’s the Bank's loss of control, for such Borrower to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 1 contract

Samples: Credit Agreement (Integrity Media Inc)

Electronic Chattel Paper and Transferable Records. If any Borrower such Grantor at any time holds or acquires an interest with a value in excess of $500,000 in any electronic chattel paper Electronic Chattel Paper or any “transferable record”, ,” as that term is defined in Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act, or in §16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower Grantor shall promptly notify the Agent thereof and, at the request of the Agent, shall take such action as the Agent may reasonably request to vest in the Agent control under Section UCC §9-105 of the UCC of such electronic chattel paper Electronic Chattel Paper or control under Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Agent agrees with Borrowers such Grantor that the Agent will arrange, pursuant to procedures reasonably satisfactory to the Agent and so long as such procedures will not result in the Agent’s loss of control, for such Borrower the Grantor to make alterations to the electronic chattel paper Electronic Chattel Paper or transferable record permitted under Section UCC §9-105 of the UCC or, as the case may be, Section 201 of the federal Federal Electronic Signatures in Global and National Commerce Xxx xx §00 of the Uniform Electronic Transactions Act for a party in control to make allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower Grantor with respect to such electronic chattel paper Electronic Chattel Paper or transferable record.

Appears in 1 contract

Samples: Loan Agreement (Horizon Global Corp)

Electronic Chattel Paper and Transferable Records. If any Borrower at any time holds or acquires an interest in any electronic chattel paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower shall promptly notify Agent thereof and, at the request of Agent, shall take such action as Agent may reasonably request to vest in Agent control under Section 9-105 of the UCC of such electronic chattel paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent agrees with Borrowers that Agent will arrange, pursuant to procedures reasonably satisfactory to Agent and so long as such procedures will not result in Agent’s loss of control, for such Borrower to make alterations to the electronic chattel paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx Axx xx §00 of the Uniform Electronic Transactions Act for a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Borrower with respect to such electronic chattel paper or transferable record.

Appears in 1 contract

Samples: Loan and Security Agreement (Cmgi Inc)

Electronic Chattel Paper and Transferable Records. If any Borrower the Debtor at any time holds or acquires an interest in any electronic chattel paper Electronic Chattel Paper or any “transferable record”, as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Borrower the Debtor shall promptly notify Agent the Bank thereof and, at the request of Agentthe Bank, shall take such action as Agent the Bank may reasonably request to vest in Agent control the Bank Control under Section 9-105 of the UCC of such electronic chattel paper Electronic Chattel Paper or control under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be, §16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. Agent The Bank agrees with Borrowers the Debtor that Agent the Bank will arrange, pursuant to procedures reasonably satisfactory to Agent the Bank and so long as such procedures will not result in Agentthe Bank’s loss of controlControl, for such Borrower the Debtor to make alterations to the electronic chattel paper Electronic Chattel Paper or transferable record permitted under Section 9-105 of the UCC or, as the case may be, Section 201 of the federal Electronic Signatures in Global and National Commerce Xxx xx §00 of the Uniform Electronic Transactions Act for a party in control Control to make without loss of controlControl, unless an Event of a Default has occurred and is continuing or would occur after taking into account any action by such Borrower the Debtor with respect to such electronic chattel paper Electronic Chattel Paper or transferable record.

Appears in 1 contract

Samples: Continuing Security Agreement (Bancinsurance Corp)

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