Common use of Financing Statements; Possession of Collateral by Lender; Control Clause in Contracts

Financing Statements; Possession of Collateral by Lender; Control. At the request of the Lender, Borrower will execute financing statements, continuation statements and other documents with respect to the Collateral pursuant to the UCC or otherwise, in form satisfactory to the Lender, and Borrower will pay the cost of filing the same in all public offices wherever the Lender deems filing to be necessary or desirable. Borrower agrees that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement, provided however, that it shall not limit the obligations of Borrower as previously set forth herein. Borrower grants the Lender the right, and irrevocably authorizes the Lender, at the Lender's option, to file any or all such financing statements, continuation statements and other documents pursuant to the UCC and otherwise, without Borrower's signature, and irrevocably appoints the Lender as Borrower's attorney-in-fact to execute any such statements and documents in Borrower's name and to perform all other acts which the Lender deems appropriate to perfect and to continue the security interests conferred by this Agreement. In addition, upon request of Lender, Borrower shall immediately deliver to Lender, or authorize and direct any and all Persons in possession of Collateral, to immediately deliver to Lender all Collateral for which Lender requires possession to perfect its security interest in such Collateral, properly endorsed or acknowledged. Furthermore, Borrower shall take all such actions as may be requested by Lender to allow Lender to exercise control over any Collateral for the purpose of allowing Lender to perfect its security interest in Collateral which Collateral may include Deposit

Appears in 1 contract

Samples: Credit Loan Agreement and Security Agreement (Student Advantage Inc)

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Financing Statements; Possession of Collateral by Lender; Control. At the request of the Lender, the Borrower will execute financing statements, continuation statements and other documents with respect to the Collateral pursuant to the UCC Uniform Commercial Code or otherwise, in form satisfactory to the Lender, and the Borrower will pay the cost of filing the same in all public offices wherever the Lender deems filing to be necessary or desirable. The Borrower agrees that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement, provided however, that it shall not limit the obligations of the Borrower as previously set forth herein. The Borrower grants the Lender the right, and irrevocably authorizes the Lender, at the Lender's ’s option, to file any or all such financing statements, continuation statements and other documents pursuant to the UCC Uniform Commercial Code and otherwise, without the Borrower's ’s signature, and irrevocably appoints the Lender as the Borrower's ’s attorney-in-fact to execute any such statements and documents in the Borrower's ’s name and to perform all other acts which the Lender deems appropriate to perfect and to continue the security interests conferred by this Agreement. In addition, upon request of the Lender, Borrower shall immediately deliver to the Lender within two (2) Business Days following the request of the Lender, or authorize and direct any and all Persons in possession of Collateral, to immediately deliver to Lender within two (2) Business Days following the request of the Lender all Collateral for which the Lender requires possession to perfect its security interest in such Collateral, properly endorsed or acknowledged. Furthermore, the Borrower shall take all such actions as may be requested by the Lender to allow the Lender to exercise control over any Collateral for the purpose of allowing the Lender to perfect its security interest in Collateral Collateral, which Collateral may include DepositDeposit Accounts, Investment Property, Letter-of-Credit Rights and electronic Chattel Paper. At the Lender’s request, the Borrower shall execute and deliver to the Lender, and have any other Persons in possession or control of Collateral, execute and deliver to the Lender, control or other agreements, in form and substance satisfactory to the Lender.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement and Security Agreement (Efj Inc)

Financing Statements; Possession of Collateral by Lender; Control. At the request of the Lender, Borrower will execute financing statements, continuation statements and other documents with respect to the Collateral pursuant to the UCC Uniform Commercial Code or otherwise, in form satisfactory to the Lender, and Borrower will pay the cost of filing the same in all public offices wherever the Lender deems filing to be necessary or desirable. Borrower agrees that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement, provided however, that it shall not limit the obligations of Borrower as previously set forth herein. Borrower grants the Lender the right, and irrevocably hereby authorizes the Lender, at the Lender's ’s option, to file any or all such financing statements, continuation statements and other documents pursuant to the UCC and otherwise, without Borrower's ’s signature, and irrevocably appoints the Lender as Borrower's ’s attorney-in-fact to execute any such statements and documents in Borrower's ’s name and to perform all other acts which the Lender deems appropriate to perfect and to continue the security interests conferred by this Agreement. Borrower authorizes the Lender to use the collateral description “all assets” or “all personal property” or such other descriptions of the Collateral as Lender shall determine to perfect Lender’s security interest in the Collateral. In addition, upon request of Lender, Borrower shall immediately deliver to Lender, or authorize and direct any and all Persons in possession of Collateral, to immediately deliver to Lender all Collateral for which Lender requires possession to perfect its security interest in such Collateral, properly endorsed or acknowledged. Furthermore, Borrower shall take all such actions as may be requested by Lender to allow Lender to exercise control over any Collateral for the such purpose of allowing Lender to perfect its security interest in Collateral Collateral, which Collateral may include Depositdeposit accounts, Investment Property, letter-of-credit rights and electronic chattel paper. At Lender’s request, Borrower shall execute and deliver to Lender, and have any other Persons in possession or control of Collateral, execute and deliver to Lender, control or other agreements, in form and substance satisfactory to Lender.

Appears in 1 contract

Samples: Credit Loan Agreement (Varsity Group Inc)

Financing Statements; Possession of Collateral by Lender; Control. At the request of the Lender, Borrower will execute financing statements, continuation statements and other documents with respect to the Collateral pursuant to the UCC Uniform Commercial Code or otherwise, in form satisfactory to the Lender, and Borrower will pay the cost of filing the same in all public offices wherever the Lender deems filing to be necessary or desirable. Borrower agrees that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement, provided however, that it shall not limit the obligations of Borrower as previously set forth herein. Borrower grants the Lender the right, and irrevocably authorizes the Lender, at the Lender's option, to file any or all such financing statements, continuation statements and other documents pursuant to the UCC Uniform Commercial Code and otherwise, without Borrower's signature, and irrevocably appoints the Lender as Borrower's attorney-in-fact to execute any such statements and documents in Borrower's name and to perform all other acts which the Lender deems appropriate to perfect and to continue the security interests conferred by this Agreement. In addition, upon request of Lender, Borrower shall immediately deliver to Lender, or authorize and direct any and all Persons in possession of Collateral, to immediately deliver to Lender all Collateral for which Lender requires possession to perfect its security interest in such Collateral, properly endorsed or acknowledged. Furthermore, Borrower shall take all such actions as may be requested by Lender to allow Lender to exercise control over any Collateral for the purpose of allowing Lender to perfect its security interest in Collateral which Collateral may include DepositDeposit Accounts, Investment Property, Letter-of-Credit Rights and electronic Chattel Paper. Borrower shall execute and deliver to Lender, and have any other Persons in possession or control of Collateral, execute and deliver to Lender, control or other agreements, in form and substance satisfactory to Lender.

Appears in 1 contract

Samples: Term Loans Agreement and Security Agreement (On Site Sourcing Inc)

Financing Statements; Possession of Collateral by Lender; Control. At the request of the Lender, Borrower Borrowers will execute financing statements, continuation statements and other documents with respect to the Collateral pursuant to the UCC Uniform Commercial Code or otherwise, in form satisfactory to the Lender, and Borrower Borrowers will pay the cost of filing the same in all public offices wherever the Lender deems filing to be necessary or desirable. Borrower agrees Borrowers agree that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement, provided however, that it shall not limit the obligations of Borrower Borrowers as previously set forth herein. Each Borrower grants the Lender the right, and irrevocably authorizes the Lender, at the Lender's ’s option, to file any or all such financing statements, continuation statements and other documents pursuant to the ESSEX – Amended and Restated Credit Agreement 29 UCC and otherwise, without Borrower's ’s signature, and irrevocably appoints the Lender as Borrower's ’s attorney-in-fact to execute any such statements and documents in such Borrower's ’s name and to perform all other acts which the Lender deems appropriate to perfect and to continue the security interests conferred by this Agreement. In addition, upon request of Lender, Borrower Borrowers shall immediately deliver to Lender, or authorize and direct any and all Persons in possession of Collateral, to immediately deliver to Lender all Collateral for which Lender requires possession to perfect its security interest in such Collateral, properly endorsed or acknowledged. Furthermore, Borrower Borrowers shall take all such actions as may be requested by Lender to allow Lender to exercise control over any Collateral for the such purpose of allowing Lender to perfect its security interest in Collateral Collateral, which Collateral may include DepositDeposit Accounts, Investment Property, Letter-of-Credit Rights and electronic Chattel Paper. At Lender’s request, Borrowers shall execute and deliver to Lender, and have any other Persons in possession or control of Collateral, execute and deliver to Lender, control or other agreements, in form and substance satisfactory to Lender.

Appears in 1 contract

Samples: Loan and Security Agreement (Essex Corp)

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Financing Statements; Possession of Collateral by Lender; Control. At the request of the Lender, Borrower will execute financing statements, continuation statements and other documents with respect to the Collateral pursuant to the UCC Uniform Commercial Code or otherwise, in form satisfactory to the Lender, and Borrower will pay the cost of filing the same in all public offices wherever the Lender deems filing to be necessary or desirable. Borrower agrees that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement, provided however, that it shall not limit the obligations of Borrower as previously set forth herein. Borrower grants the Lender the right, and irrevocably hereby authorizes the Lender, at the Lender's ’s option, to file any or all such financing statements, continuation statements and other documents pursuant to the UCC and otherwise, without Borrower's ’s signature, and irrevocably appoints the Lender as Borrower's ’s attorney-in-fact to execute any such statements and documents in Borrower's ’s name and to perform all other acts which the Lender deems appropriate to perfect and to continue the security interests conferred by this Agreement. In addition, upon request of Lender, Borrower shall immediately deliver to Lender, or authorize and direct any and all Persons in possession of Collateral, to immediately deliver to Lender all Collateral for which Lender requires possession to perfect its security interest in such Collateral, properly endorsed or acknowledged. Furthermore, Borrower shall take all such actions as may be requested by Lender to allow Lender to exercise control over any Collateral for the such purpose of allowing Lender to perfect its security interest in Collateral Collateral, which Collateral may include DepositDeposit Accounts, Investment Property, Letter-of-Credit Rights and electronic Chattel Paper. At Lender’s request, Borrower shall execute and deliver to Lender, and have any other Persons in possession or control of Collateral, execute and deliver to Lender, control or other agreements, in form and substance satisfactory to Lender.

Appears in 1 contract

Samples: Revolving Line of Credit Loan Agreement and Security Agreement (Spectrum Sciences & Software Holdings Corp)

Financing Statements; Possession of Collateral by Lender; Control. At the request of the Lender, Borrower will execute financing statements, continuation statements statements, assignments and other documents with respect to the Collateral pursuant to the UCC Uniform Commercial Code or otherwise, in form satisfactory to the Lender, and Borrower will pay the cost of filing the same in all public offices wherever the Lender deems filing to be necessary or desirable. Borrower agrees that a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement, provided however, that it shall not limit the obligations of Borrower as previously set forth herein. Borrower grants the Lender the right, and irrevocably hereby authorizes the Lender, at the Lender's option, to file any or all such financing statements, continuation statements statements, assignments and other documents pursuant to the UCC and otherwise, without Borrower's signature, and irrevocably appoints the Lender as Borrower's attorney-in-fact to execute any such statements and documents in Borrower's name and to perform all other acts which the Lender deems appropriate to perfect and to continue the security interests conferred by this Agreement. Borrower authorizes the Lender to use the collateral description "all assets" or "all personal property" or such other descriptions of the Collateral as Lender shall determine to perfect Lender's security interest in the Collateral. In addition, upon request of Lender, Borrower shall immediately deliver to Lender, or authorize and direct any and all Persons in possession of Collateral, to immediately deliver to Lender all Collateral for which Lender requires possession to perfect its security interest in such Collateral, properly endorsed or acknowledged. Furthermore, Borrower shall take all such actions as may be requested by Lender to allow Lender to exercise control over any Collateral for the such purpose of allowing Lender to perfect its security interest in Collateral Collateral, which Collateral may include Depositdeposit accounts,

Appears in 1 contract

Samples: Credit Loan Agreement and Security Agreement (Varsity Group Inc)

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