Escrow Funds as Security for Loan Sample Clauses

Escrow Funds as Security for Loan. The Escrow Funds shall constitute additional collateral for the indebtedness evidenced by the Note. Upon any default by Borrower under the Note or the Security Deed which extends beyond any applicable grace or cure period provided under the Note or Security Deed, Lender may, at its option, notify Escrow Agent that such default has occurred and direct Escrow Agent to pay all of the Escrow Funds to Lender, and Lender may apply such amounts to the indebtedness under the Note and the Security Deed in any manner it deems appropriate. Borrower hereby agrees to execute and deliver to Lender such documents and agreements as Lender shall require to perfect Lender's security interest in and to the Escrow Funds, including, without limitation, security agreements, UCC financing statements and such other documentation as Lender shall deem appropriate.
Sample 1
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Escrow Funds as Security for Loan. The Escrow Funds shall constitute additional collateral for the indebtedness and obligations of Borrower under the Note and Security Deed. Borrower does hereby grant to Lender security title and a continuing, general lien upon and security interest in the Escrow Funds in order to secure Borrower's obligations under the Note and Security Deed. Upon any default by Borrower under the Note or the Security Deed which extends beyond any applicable grace or cure period provided under the Note or the Security Deed, Lender may, at its option, notify Escrow Agent that such default has occurred and direct Escrow Agent to immediately deliver all or any portion of the Escrow Funds to Lender. Escrow Agent shall be entitled and is hereby directed to rely solely on directions from Lender with respect to the occurrence of such a default and any disbursement of the Escrow Funds to Lender as a result thereof.
Sample 1

Related to Escrow Funds as Security for Loan

  • Security for Loan The loan under this contract is secured by pledge of equity and the Pledge Agreement will be entered into separately. If it’s secured at the highest amount, the No. of the Pledge Agreement is / .

  • Security for Obligations This Agreement secures, and the Collateral is collateral security for, the prompt and complete payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a) (and any successor provision thereof)), of all Obligations with respect to every Grantor (the “Secured Obligations”).

  • Obligations under Security Documents duly and punctually perform each of the obligations expressed to be imposed or assumed by them under the Security Documents and Underlying Documents and will procure that each of the other Security Parties will, duly and punctually perform each of the obligations expressed to be assumed by it under the Security Documents and the Underlying Documents to which it is a party;

  • Security for Obligations Grantors Remain Liable 3.1 Security for Obligations 3.2 Continuing Liability Under Collateral

  • Continuing Security Interest; Assignments under the Credit Agreement This Agreement shall create a continuing security interest in the Collateral and shall (a) remain in full force and effect until the latest of (i) the payment in full in cash of the Secured Obligations, (ii) the Termination Date and (iii) the termination or expiration of all Letters of Credit and all Secured Hedge Agreements, (b) be binding upon each Grantor, its successors and assigns and (c) inure, together with the rights and remedies of the Administrative Agent hereunder, to the benefit of the Secured Parties and their respective successors, transferees and assigns. Without limiting the generality of the foregoing clause (c), any Lender Party may assign or otherwise transfer all or any portion of its rights and obligations under the Credit Agreement (including, without limitation, all or any portion of its Commitments, the Advances owing to it and the Note or Notes, if any, held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender Party herein or otherwise, in each case as provided in Section 8.07 of the Credit Agreement.

  • Security for Individual Portfolios' Overdraft Obligations The pledge of Collateral by a Fund on behalf of any of its individual Portfolios shall secure only the Overdraft Obligations of such Portfolio. In no event shall the pledge of Collateral by one of a Fund's Portfolios be deemed or considered to be security for the Overdraft Obligations of any other Portfolio of such Fund or of any other Fund.

  • Performance of Obligations under Loan Documents The Borrower will pay the Notes according to the reading, tenor and effect thereof, and the Borrower will, and will cause each Subsidiary to, do and perform every act and discharge all of the obligations to be performed and discharged by them under the Loan Documents, including, without limitation, this Agreement, at the time or times and in the manner specified.

  • Security for the Loan The Notes and each Borrower’s obligations hereunder and under the other Loan Documents shall be secured by all Mortgages, the Assignments of Leases, the Assignments of Agreements, the Manager’s Subordinations, and the security interests and Liens granted in this Agreement and in the other Loan Documents.

  • Continuing Security Interest; Assignments Under the Credit Agreement; Release (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and the successors and assigns thereof and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors, indorsees, transferees and assigns until all Obligations under the Credit Documents and each Pari Passu Agreement (other than, in each case, any contingent indemnity obligations not then due, any Secured Hedge Obligations or any Secured Cash Management Obligations) shall have been satisfied by payment in full, the Commitments shall be terminated and all Letters of Credit have expired or terminated and after all Letter of Credit Outstandings have been reduced to zero (or all such Letters of Credit and Letter of Credit Outstandings have been Cash Collateralized) notwithstanding that from time to time during the term of the Credit Agreement, the Credit Parties may be free from any Obligations.

  • Certain Obligations Continue During the Marketing Period, the obligation of Lessee to pay Rent with respect to the Properties (including without limitation the installment of Basic Rent due on the Expiration Date) shall continue undiminished until payment in full to Lessor of the sale proceeds, if any, the Maximum Residual Guarantee Amount, the amount due under Section 22.3, if any, and all other amounts due to Lessor or any other Person with respect to all Properties or any Operative Agreement. Lessor shall have the right, but shall be under no duty, to solicit bids, to inquire into the efforts of Lessee to obtain bids or otherwise to take action in connection with any such sale, other than as expressly provided in this Article XXII.

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