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Common use of Encumbrance Clause in Contracts

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be subject to Permitted Liens.

Appears in 42 contracts

Samples: Security Agreement (Reval Holdings Inc), Loan and Security Agreement (GigOptix, Inc.), Loan and Security Agreement (Global Telecom & Technology, Inc.)

Encumbrance. Create, incur, or allow any Lien on any of its propertyproperty (including its Intellectual Property), or assign or convey any right to receive income, including the sale of any AccountsAccounts (except as permitted by Section 7.1), or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be subject to Permitted Lienshereunder.

Appears in 3 contracts

Samples: Loan and Security Agreement (Harmonic Inc), Loan and Security Agreement (Harmonic Inc), Loan and Security Agreement (Harmonic Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be herein subject only to Permitted Liens.

Appears in 3 contracts

Samples: Loan and Security Agreement (Harmonic Lightwaves Inc), Loan and Security Agreement (Cosine Communications Inc), Loan and Security Agreement (Cosine Communications Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest in the Collateral granted herein. The Collateral may also be , subject only to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Webridge Inc), Loan and Security Agreement (Epicedge Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or Or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be subject to Permitted Liens.

Appears in 2 contracts

Samples: Loan Modification Agreement (Phase Forward Inc), Loan Modification Agreement (Phase Forward Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be subject to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Open Solutions Inc), Loan and Security Agreement (Bottomline Technologies Inc /De/)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be , subject only to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Exa Corp), Loan and Security Agreement (Nuance Communications)

Encumbrance. Create, incur, or allow any Lien on any of its property, including Intellectual Property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted herein. The Collateral may also be , subject only to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Kanbay International Inc), Loan and Security Agreement (Kanbay International Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Notwithstanding the foregoing, however, the Collateral may also be subject to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Constant Contact, Inc.), Loan and Security Agreement (Constant Contact, Inc.)

Encumbrance. Create, incur, allow, or allow suffer any Lien on any of its property, the Collateral or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be subject to , except as is otherwise permitted in Section 7.1 hereof and the definition of "Permitted LiensLien" herein.

Appears in 2 contracts

Samples: Loan and Security Agreement (Strasbaugh), Loan and Security Agreement (Strasbaugh)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted herein. The Collateral may also be , subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Healthcare Com Corp)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Company Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Viewlocity Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Agent's first priority security interest granted herein. The in the Collateral may also be subject to Permitted Lienschange."

Appears in 1 contract

Samples: Loan and Security Agreement (Breakaway Solutions Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be subject to Permitted Liens." and inserting in lieu thereof the following:

Appears in 1 contract

Samples: Loan Modification Agreement (Art Technology Group Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be subject to Permitted Liens.here

Appears in 1 contract

Samples: Loan and Security Agreement (Liquid Audio Inc)

Encumbrance. Create, incur, or allow any Lien on any of its propertythe Collateral, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest in the Collateral. Sell, transfer, assign, mortgage, pledge, lease, grant a security interest in, or encumber any of its intellectual property, except for licenses granted herein. The Collateral may also be subject to Permitted Liensin the ordinary course of business.

Appears in 1 contract

Samples: Loan and Security Agreement (Array Biopharma Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The here except for Collateral may also be subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Omm Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted herein. The in the Collateral may also to be subject to Permitted Liensmaterially impaired.

Appears in 1 contract

Samples: Loan and Security Agreement (Sento Corp)

Encumbrance. Create, incur, or allow any Lien on any of its propertyitsCollateral, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Neah Power Systems, Inc.)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Lender's first priority security interest granted herein. The in the Collateral may also be subject to Permitted Lienschange.

Appears in 1 contract

Samples: Loan and Security Agreement (Breakaway Solutions Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any AccountsReceivables, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted herein. The Collateral may also be subject to Permitted Liensinterest.

Appears in 1 contract

Samples: Security Agreement (Aspen Technology Inc /De/)

Encumbrance. Create, incur, or allow any Lien on any of its propertythe Collateral, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for (a) Permitted Liens, or (b) Transfers of Accounts in the ordinary course of Borrower's business in exchange for cash or other unencumbered Property to an entity or entities regularly engaged in the purchase of such Accounts, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Stratex Networks Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted herein. The in the Collateral may also be subject to change except for Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Hotjobs Com LTD)

Encumbrance. Create, incur, or allow any Lien on any of its property, particularly any of its Intellectual Property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Collateral may also be hereby, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Energy Industries Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein. The Notwithstanding the foregoing, the Collateral may also be subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Momenta Pharmaceuticals Inc)