Common use of General Loan and Collateral Agreement Clause in Contracts

General Loan and Collateral Agreement. As collateral security for the payment of the Obligations, the Borrower and each Guarantor hereby grant to the Bank a lien on and security interest in and right of setoff to any and all deposits or other sums at any time credited by or due from the Bank or any Affiliate of the Bank to the Borrower and/or any Guarantor, whether now existing or hereafter arising, whether in regular or special depository accounts or otherwise, and any and all monies, credit, collateral, securities and other property of the Borrower and/or any Guarantor, whether now existing or hereafter arising, and the proceeds thereof, now or hereafter held or received by or in transit to the Bank or any Affiliate of the Bank from or for the Borrower and/or any Guarantor, whether for safekeeping, custody, pledge, transmission, collection or otherwise. At any time, without demand or notice, the Bank may set off the same or any part thereof and apply the same to any of the Obligations of the Borrower and/or any Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Loans. ANY AND ALL RIGHTS TO REQUIRE THE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

General Loan and Collateral Agreement. As collateral security for the payment of each Note and of all other notes and/or obligations or Obligations of the ObligationsBorrower, now of hereafter owned or held by the Bank, the Borrower and each the Guarantor hereby grant to the Bank Bank, a lien on and continuing lien, security interest in and right of setoff to any and as security for all deposits or other sums at any time credited by or due from the Bank or any Affiliate of the Bank Obligations owing to the Borrower and/or any GuarantorBank, whether now existing or hereafter arising, whether in regular or special depository accounts or otherwiseupon and against all deposits, credits, collateral and any and all monies, credit, collateral, securities and other property of the Borrower and/or any Guarantor, whether now existing or hereafter arising, and the proceeds thereofproperty, now or hereafter held in the possession, custody, safekeeping or received by control of the Bank or any entity under the control of FleetBoston Financial Corporation and its successors or assigns, or in transit to the Bank or any Affiliate of the Bank from or for the Borrower and/or any Guarantor, whether for safekeeping, custody, pledge, transmission, collection or otherwisethem. At any time, without demand or noticenotice (any such notice being expressly waived by the Borrower), the Bank may set off the same setoff same, or any part thereof and apply the same to any of the Obligations of the Borrower and/or any or the Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the LoansObligations. ANY AND ALL RIGHTS TO REQUIRE THE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, THE GUARANTOR ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. The Bank at any time, before or after an Event or Default, may but shall not be obligated to, transfer into or out of its own name or that of its nominee all or any of the collateral security, including stocks, bonds, and other securities, and the Bank or its nominee may demand, sue for, xxxlect, receive and hold as like collateral security any or all interest, dividends and income thereon and if the securities are held in the name of the Bank or its nominee, the Bank may, after an Event of Default, exercise all voting and other rights pertaining thereto as if the Bank were the absolute owner thereof; but the Bank shall not be obligated to demand payment of, protest, or take any steps necessary to preserve any rights in the collateral against prior parties, or to take any action whatsoever in regard to the collateral security or any part thereof, all of which the Borrower assumes and agrees to do. Without limiting the generality of the foregoing, the Bank shall not be obligated to take any action in connection with any conversion, call, redemption, retirement or any other event relating to any of the collateral security, unless the Borrower gives written notice to the Bank that such action shall be taken not more than thirty (30) days prior to the time such action may first be taken and not less than ten (10) days prior to the expiration of the time during which such action may be taken.

General Loan and Collateral Agreement. As collateral The Borrower hereby grants to the Bank a lien, security interest and a right of setoff as security for the payment of the Obligations, the Borrower and each Guarantor hereby grant to the Bank a lien on and security interest in and right of setoff to any and all deposits sums owing under the Loan Documents and all other obligations, direct or other sums at contingent, joint, several or independent, of the Borrower now or hereafter existing due or to become due to, or held or to be held by the Bank, whether created directly or acquired by assignment or otherwise including, without limitation, any time credited by arising under this Agreement (all of such obligations being hereinafter collectively called the “Obligations”), upon and against all deposits, credits, collateral and property, now or due from hereafter in the possession, custody, safekeeping or control of the Bank or any Affiliate entity under the control of the Bank to the Borrower and/or any GuarantorBank, whether now existing or hereafter arising, whether in regular or special depository accounts or otherwise, and any and all monies, credit, collateral, securities and other property of the Borrower and/or any Guarantor, whether now existing or hereafter arising, and the proceeds thereof, now or hereafter held or received by or in transit to the Bank or any Affiliate of the Bank from or for the Borrower and/or any Guarantor, whether for safekeeping, custody, pledge, transmission, collection or otherwisethem. At any time, after the occurrence and continuance of an Event of Default, without demand or notice, the Bank may set off the same or any part thereof and apply the same to any of the Obligations liability or obligation of the Borrower and/or any Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Revolving Credit Loans. ANY AND ALL RIGHTS TO REQUIRE THE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, REVOLVING CREDIT LOANS PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY IRREVOCABLE WAIVED. The Bank shall not be required to marshal any present or future security for, or guarantees of, the obligations or to resort to any such security or guarantee in any particular order and the Borrower waives, to the fullest extent that it lawfully can, (a) any right they might have to require to the Bank to pursue any particular remedy before proceeding against them and (b) any right to the benefit of, or to direct the application of the proceeds of any collateral until the obligations are paid in full.

General Loan and Collateral Agreement. As collateral security for the payment of the ObligationsObligations of the Borrower, now of hereafter owned or held by the Bank, the Borrower and each Guarantor hereby grant grants to the Bank a lien on and continuing lien, security interest in and right of setoff to any and as security for all deposits or other sums at any time credited by or due from the Bank or any Affiliate Obligations of the Bank to the Borrower and/or any GuarantorBorrower, whether now existing or hereafter arising, whether in regular or special depository accounts or otherwiseupon and against all deposits, credits, collateral and any and all monies, credit, collateral, securities and other property of the Borrower and/or any Guarantor, whether now existing or hereafter arising, and the proceeds thereofproperty, now or hereafter held in the possession, custody, safekeeping or received by control of the Bank or any of its Affiliates, or in transit to the Bank or any Affiliate of the Bank from or for the Borrower and/or any Guarantor, whether for safekeeping, custody, pledge, transmission, collection or otherwisethem. At any time, without demand or noticenotice (any such notice being expressly waived by the Borrower), the Bank may set off the same setoff same, or any part thereof and apply the same to any of the Obligations of the Borrower and/or any Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the LoansObligations. ANY AND ALL RIGHTS TO REQUIRE THE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, THE GUARANTORS ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. The Bank at any time, before or after an Event or Default, may but shall not be obligated to, transfer into or out of its own name or that of its nominee all or any of the collateral security, including stocks, bonds, and other securities, and the Bank or its nominee may demand, sue for, collect, xxxeive and hold as like collateral security any or all interest, dividends and income thereon and if the securities are held in the name of the Bank or its nominee, the Bank may, after an Event of Default, exercise all voting and other rights pertaining thereto as if the Bank were the absolute owner thereof; but the Bank shall not be obligated to demand payment of, protest, or take any steps necessary to preserve any rights in the collateral against prior parties, or to take any action whatsoever in regard to the collateral security or any part thereof, all of which the Borrower assumes and agrees to do. Without limiting the generality of the foregoing, the Bank shall not be obligated to take any action in connection with any conversion, call, redemption, retirement or any other event relating to any of the collateral security, unless the Borrower gives written notice to the Bank that such action shall be taken not more than thirty (30) days prior to the time such action may first be taken and not less than ten (10) days prior to the expiration of the time during which such action may be taken.

General Loan and Collateral Agreement. As collateral security for the payment of the Obligations, the Borrower and each Guarantor hereby grant to the Bank a lien on and security interest in and right of setoff with respect to any and all deposits or other sums at any time credited by or due from the Bank or any Affiliate of the Bank to the Borrower and/or any Guarantor, whether now existing or hereafter arising, whether in regular or special depository accounts or otherwise, and any and all monies, credit, collateral, securities and other property of the Borrower and/or any Guarantor, whether now existing or hereafter arising, and the proceeds thereof, now or hereafter held or received by or in transit to the Bank or any Affiliate of the Bank from or for the Borrower and/or any Guarantor, whether for safekeeping, custody, pledge, transmission, collection or otherwise. At any time, without demand or notice, the Bank may set off the same or any part thereof and apply the same to any of the Obligations of the Borrower and/or any Guarantor even though unmatured and regardless of the adequacy of any other collateral securing the Loans. ANY AND ALL RIGHTS TO REQUIRE THE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER OR ANY GUARANTOR, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.