Common use of Fixtures and Equipment; Financing Statement Clause in Contracts

Fixtures and Equipment; Financing Statement. This Mortgage constitutes a security agreement under the Uniform Commercial Code as enacted in the State of Connecticut, and the Borrower hereby grants to the Bank to secure the payment and performance of the Obligations and also to secure the performance of all agreements and covenants herein contained, a security interest in all fixtures, Building Service Equipment and any other property (hereinafter referred to as the “Personalty”) included in the Property, now owned or hereafter acquired by the Borrower, which might otherwise be deemed “personal property” (and all accessions thereto and the proceeds thereof). The Borrower covenants and agrees that, upon the subsequent acquisition of fixtures, Personalty or Building Service Equipment, it will provide to the Bank such further assurances as may be required by the Bank to establish the Bank’s first and prior security interest in such fixtures, Personalty and Building Service Equipment. IT IS INTENDED BY THE GRANTOR AND THE GRANTEE THAT THIS MORTGAGE BE EFFECTIVE AS A FINANCING STATEMENT FILED WITH THE REAL ESTATE RECORDS AS A FIXTURE FILING. The Borrower shall execute, deliver and cause to be recorded and filed from time to time with all necessary public offices, at the Borrower’s sole cost and expense, continuation statements and such other instruments as will maintain the Bank’s priority of security in all fixtures, Personalty and Building Service Equipment. If Borrower shall fail to furnish any such financing and continuation statements within ten (10) days after their request by the Bank, then, pursuant to the provisions of the Uniform Commercial Code, Borrower hereby authorizes the Bank, without signature of the Borrower, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the office of the Secretary of the State shall not be construed as in any way impairing the right of the Bank to proceed against fixtures, Personalty or Building Service Equipment as real property.

Appears in 3 contracts

Samples: Open End Mortgage Deed and Security Agreement (Edac Technologies Corp), Open End Mortgage Deed and Security Agreement (Edac Technologies Corp), Deed and Security Agreement (Edac Technologies Corp)

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Fixtures and Equipment; Financing Statement. This Mortgage constitutes a security agreement under the Uniform Commercial Code as enacted in the State of ConnecticutCode, and the Borrower Mortgagor hereby grants to the Bank Mortgagee to secure the payment and performance of the Obligations and also to secure the performance of all agreements and covenants herein contained, a security interest in all fixtures, Building Service Equipment and any other property (hereinafter referred to as the “Personalty”) included in the Property, now owned or hereafter acquired by the BorrowerMortgagor, which might otherwise be deemed "personal property" (and all accessions thereto and the proceeds thereof). The Borrower Some of such "personal property" is now or is to become fixtures on the Premises. Mortgagor covenants and agrees that, upon the subsequent acquisition of fixtures, Personalty or Building Service EquipmentEquipment or such personal property included in the Property, it will provide to the Bank Mortgagee such further assurances as may be required by the Bank Mortgagee to establish the Bank’s first and prior Mortgagee's subordinate security interest in such fixtures, Personalty and Building Service EquipmentEquipment and property. IT IS INTENDED BY THE GRANTOR MORTGAGOR AND THE GRANTEE MORTGAGEE THAT THIS MORTGAGE BE EFFECTIVE AS A FINANCING STATEMENT FILED WITH THE REAL ESTATE RECORDS AS A FIXTURE FILING. The Borrower For this purpose, Mortgagor is the "debtor" and Mortgagee is the "secured party." A mailing address for the Mortgagor and an address of Mortgagee from which information concerning the security interest may be obtained are set forth in the introductory paragraph of this Mortgage. Mortgagor shall execute, deliver and cause to be recorded and filed from time to time with all necessary public offices, at the Borrower’s Mortgagor's sole cost and expense, continuation statements continuances and such other instruments as will maintain the Bank’s Mortgagee's priority of security in all fixtures, Personalty and Building Service EquipmentEquipment and other personal property included in the Property. If Borrower The remedies for any violation of the covenants, terms and conditions of the security agreement herein contained shall fail to furnish any such financing and continuation statements within ten be (10i) days after their request as prescribed herein, or (ii) as prescribed by general law, or (iii) as prescribed by the Bank, then, pursuant to the provisions of the specific statutory consequences now or hereafter enacted and specified in said Uniform Commercial Code, Borrower hereby authorizes the Bank, without signature of the Borrower, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the office of the Secretary of the State shall not be construed as in any way impairing the right of the Bank to proceed against fixtures, Personalty or Building Service Equipment as real propertyall at Mortgagee's sole election.

Appears in 1 contract

Samples: Subordinated Credit Agreement (Republic Technologies International Holdings LLC)

Fixtures and Equipment; Financing Statement. This Mortgage constitutes a security agreement under the Uniform Commercial Code as enacted in the State of ConnecticutCode, and the Borrower Mortgagor hereby grants to the Bank Mortgagee to secure the payment and performance of the Obligations and also to secure the performance of all agreements and covenants herein contained, a security interest in all fixtures, Building Railroad Service Equipment and any other property (hereinafter referred to as the “Personalty”) included in the Property, now owned or hereafter acquired by the BorrowerMortgagor, which might otherwise be deemed "personal property" (and all accessions thereto and the proceeds thereof). The Borrower Some of such "personal property" is now or is to become fixtures on the Premises. Mortgagor covenants and agrees that, upon the subsequent acquisition of fixtures, Personalty Railroad Service Equipment or Building Service Equipmentsuch personal property included in the Property, it will provide to the Bank Mortgagee such further assurances as may be required by the Bank Mortgagee to establish the Bank’s Mortgagee's first and prior security interest in such fixtures, Personalty Railroad Service Equipment and Building Service Equipmentproperty. IT IS INTENDED BY THE GRANTOR MORTGAGOR AND THE GRANTEE MORTGAGEE THAT THIS MORTGAGE BE EFFECTIVE AS A FINANCING STATEMENT FILED WITH THE REAL ESTATE RECORDS AS A FIXTURE FILING. The Borrower For this purpose, Mortgagor is the "debtor" and Mortgagee is the "secured party." A mailing address for the Mortgagor and an address of Mortgagee from which information concerning the security interest may be obtained are set forth in the introductory paragraph of this Mortgage. Mortgagor shall execute, deliver and cause to be recorded and filed from time to time with all necessary public offices, at the Borrower’s Mortgagor's sole cost and expense, continuation statements continuances and such other instruments as will maintain the Bank’s Mortgagee's priority of security in all fixtures, Personalty Railroad Service Equipment and Building Service Equipmentother personal property included in the Property. If Borrower The remedies for any violation of the covenants, terms and conditions of the security agreement herein contained shall fail to furnish any such financing and continuation statements within ten be (10i) days after their request as prescribed herein, or (ii) as prescribed by general law, or (iii) as prescribed by the Bank, then, pursuant to the provisions of the specific statutory consequences now or hereafter enacted and specified in said Uniform Commercial Code, Borrower hereby authorizes the Bank, without signature of the Borrower, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the office of the Secretary of the State shall not be construed as in any way impairing the right of the Bank to proceed against fixtures, Personalty or Building Service Equipment as real propertyall at Mortgagee's sole election.

Appears in 1 contract

Samples: Blue Steel Capital Corp

Fixtures and Equipment; Financing Statement. This Mortgage constitutes a security agreement under the Uniform Commercial Code as enacted in the State Commonwealth of ConnecticutMassachusetts, and the Borrower hereby grants to the Bank to secure the payment and performance of the Obligations and also to secure the performance of all agreements and covenants herein contained, a security interest in all fixtures, Building Service Equipment and any other property (hereinafter referred to as the “Personalty”) included in the Property, now owned or hereafter acquired by the Borrower, which might otherwise be deemed “personal property” (and all accessions thereto and the proceeds thereof). The Borrower covenants and agrees that, upon the subsequent acquisition of fixtures, Personalty or Building Service Equipment, it will provide to the Bank such further assurances as may be required by the Bank to establish the Bank’s first and prior security interest in such fixtures, Personalty and Building Service Equipment. IT IS INTENDED BY THE GRANTOR AND THE GRANTEE THAT THIS MORTGAGE BE EFFECTIVE AS A FINANCING STATEMENT FILED WITH THE REAL ESTATE RECORDS AS A FIXTURE FILING. The Borrower shall execute, deliver and cause to be recorded and filed from time to time with all necessary public offices, at the Borrower’s sole cost and expense, continuation statements and such other instruments as will maintain the Bank’s priority of security in all fixtures, Personalty and Building Service Equipment. If Borrower shall fail to furnish any such financing and continuation statements within ten (10) days after their request by the Bank, then, pursuant to the provisions of the Uniform Commercial Code, Borrower hereby authorizes the Bank, without signature of the Borrower, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the office of the Secretary of the State shall not be construed as in any way impairing the right of the Bank to proceed against fixtures, Personalty or Building Service Equipment as real property.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Edac Technologies Corp)

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Fixtures and Equipment; Financing Statement. This Mortgage constitutes a security agreement under the Uniform Commercial Code as enacted in the State of ConnecticutCode, and the Borrower Mortgagor hereby grants to the Bank Mortgagee to secure the payment and performance of the Obligations and also to secure the performance of all agreements and covenants herein contained, a security interest in all fixtures, Building Service Equipment and any other property (hereinafter referred to as the “Personalty”) included in the Property, now owned or hereafter acquired by the BorrowerMortgagor, which might otherwise be deemed "personal property" (and all accessions thereto and the proceeds thereof). The Borrower Some of such "personal property" is now or is to become fixtures on the Premises. Mortgagor covenants and agrees that, upon the subsequent acquisition of fixtures, Personalty or Building Service EquipmentEquipment or such personal property included in the Property, it will provide to the Bank Mortgagee such further assurances as may be required by the Bank Mortgagee to establish the Bank’s Mortgagee's first and prior security interest in such fixtures, Personalty and Building Service EquipmentEquipment and property. IT IS INTENDED BY THE GRANTOR MORTGAGOR AND THE GRANTEE MORTGAGEE THAT THIS MORTGAGE BE EFFECTIVE AS A FINANCING STATEMENT FILED WITH THE REAL ESTATE RECORDS AS A FIXTURE FILING. The Borrower For this purpose, Mortgagor is the "debtor" and Mortgagee is the "secured party." A mailing address for the Mortgagor and an address of Mortgagee from which information concerning the security interest may be obtained are set forth in the introductory paragraph of this Mortgage. Mortgagor shall execute, deliver and cause to be recorded and filed from time to time with all necessary public offices, at the Borrower’s Mortgagor's sole cost and expense, continuation statements continuances and such other instruments as will maintain the Bank’s Mortgagee's priority of security in all fixtures, Personalty and Building Service EquipmentEquipment and other personal property included in the Property. If Borrower The remedies for any violation of the covenants, terms and conditions of the security agreement herein contained shall fail to furnish any such financing and continuation statements within ten be (10i) days after their request as prescribed herein, or (ii) as prescribed by general law, or (iii) as prescribed by the Bank, then, pursuant to the provisions of the specific statutory consequences now or hereafter enacted and specified in said Uniform Commercial Code, Borrower hereby authorizes the Bank, without signature of the Borrower, to execute and file any such financing and continuation statements. The filing of any financing or continuation statements in the office of the Secretary of the State shall not be construed as in any way impairing the right of the Bank to proceed against fixtures, Personalty or Building Service Equipment as real propertyall at Mortgagee's sole election.

Appears in 1 contract

Samples: Recording Office (Rti Capital Corp)

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