Grant of Lien and Security Interest. (a) Subject to Section 6.7, each Participant grants to the other Participant a lien upon and a security interest in its Participating Interest, including all of its right, title and interest in the Assets, whenever acquired or arising, and the proceeds from and accessions to the foregoing.
(b) The liens and security interests granted by Subsection 6.6(a) shall secure every obligation or liability of the Participant granting such lien or security interest created under this Agreement, including the obligation to repay a Cover Payment in accordance with Section 10.4. Each Participant hereby agrees to take all action necessary to perfect such lien and security interest and hereby appoints the other Participant its attorney-in-fact to execute, file and record all financing statements and other documents necessary to perfect or maintain such lien and security interest.
Grant of Lien and Security Interest. (A) Effective as of the occurrence of any Trigger Event and upon the giving of a Trigger Event Notice, and without any other action being required by any Person, as security for the prompt satisfaction of all Obligations, each Borrower hereby assigns, transfers and sets over to Bank all of such Borrower’s Interest in and to, and grants Bank a Lien on, upon and in the Collateral.
(B) No submission by any Borrower to Bank of a schedule or other particular identification of Collateral shall be necessary to vest in Bank security title to and a security interest in each and every item of Collateral now existing or hereafter created and acquired, but rather such title and security interest shall vest in Bank immediately upon the creation or acquisition or any item of Collateral hereafter created or acquired, without the necessity for any other or further action by any Borrower or by Bank.
(C) Notwithstanding anything to the contrary contained in this Agreement, in no event shall the security interest granted under Article VIII or under any other Loan Document attach to, or the term “Collateral” be deemed to include, (a) any lease, Assigned Agreement, license, contract, property rights or agreement to which any Borrower is a party or any of its rights or interests thereunder if, and for so long as, the grant of such security interest shall constitute or result in (i) the abandonment, invalidation or unenforceability of any right, title or interest of any Borrower therein or (ii) a breach or termination pursuant to the terms of, or a default under, any such Document, lease, Assigned Agreement or other license, contract, property rights or agreement or the violation of any applicable law (other than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law (including the Bankruptcy Code) or principles of equity); provided, however that such security interest shall attach immediately at such time as the condition causing such abandonment, invalidation or unenforceability shall be remedied and to the extent severable, shall attach immediately to any portion of such lease, Assigned Agreement or other license, contract, property rights or agreement that does not result in any of the consequences specified in (i) or (ii) above; provided further, however, that upon and after the occurrence of any Trigger Eve...
Grant of Lien and Security Interest. Title to the Items of Equipment shall remain in Lessor as security for the obligations of Lessee hereunder and under the other Operative Documents to which it is a party until Lessee has fulfilled all of its obligations hereunder and thereunder. Lessee hereby grants, assigns, hypothecates, transfers and pledges to Lessor, a lien and security interest on all of Lessee’s right, title and interest in and to, whether now or hereafter existing, each Item of Equipment and in each Sublease covering any Item of Equipment that may be entered into from time to time in accordance with the provisions of this Lease, and Lessee hereby grants to Lessor a continuing lien on, and security interest in, and assigns to Lessor all of Lessee’s rights, title and interest in all of the other Lessee Collateral, to secure the payment of all sums due hereunder and under the other Operative Documents to which it is a party and the performance of all other obligations hereunder and under the other Operative Documents to which it is a party; provided, however, that the lien on, and security interest in, the portion of the Lessee Collateral which constitutes Cash Collateral will not secure any obligations of the Lessee under the Operative Documents with respect to the Series B Lease Balance or any amounts due and owing with respect to such Series B Lease Balance or to the Series B Assignees, if any. Lessee also hereby authorizes Lessor and Agent to file UCC financing statements on and after the Delivery Date to the extent necessary to perfect such security interests granted pursuant to the Operative Documents that may be perfected under the UCC through such filings. Further, Lessee hereby assigns to Lessor all of its rights under any and all purchase contracts relating to each Item of Equipment.
Grant of Lien and Security Interest. (a) Subject to Section 3.4 hereof, each Member grants to the other Member a lien upon and a security interest in its Ownership Interest, including all of its right, title and interest in the Company and the Assets, whenever acquired or arising, and the proceeds from and accessions to the foregoing.
(b) The Liens and security interests granted by Subsection 3.3(a) hereof shall secure every obligation or liability of the Member granting such lien or security interest to the other Member created under this Agreement or the LLC Agreement as Amended. Each Member hereby agrees to take all action necessary to perfect such lien and security interest and hereby appoints the other Member its attorney-in-fact to execute, file and record all financing statements and other documents necessary to perfect or maintain such lien and security interest.
Grant of Lien and Security Interest. (a) As security for the prompt satisfaction of all Loan Obligations, Holdings, the Borrower and each Borrower Subsidiary hereby assigns, transfers, and sets over to the Agent Lender, for the benefit of both Lenders, all of Holdings, the Borrower’s and each Borrower Subsidiary’s right, title and interest of whatever kind, nature or description in and to, and grants the Agent Lender, for the benefit of both Lenders, a lien on and security interest in the Collateral; provided, however, that the Pasadena Project and the Westwood Project shall only serve as security for the prompt satisfaction of all Loan Obligations relating to the Pasadena Project and the Westwood Project, respectively.
(b) No submission by Holdings, the Borrower or any Borrower Subsidiary of a schedule or other particular identification of Collateral shall be necessary to vest in the Lenders security title to and a security interest in each and every item of Collateral now existing or hereafter created and acquired, but rather such title and security interest shall vest in the Lenders immediately upon the creation or acquisition of any item of Collateral hereafter created or acquired, without the necessity for any other or further action by Holdings, the Borrower or any Borrower Subsidiary.
Grant of Lien and Security Interest. (a) Subject to Section 4.4, each Member grants the other Member a lien upon and a security interest in its Ownership Interest, including but not limited to all of its rights, titles and interests in the Assets, whenever acquired or arising, and proceeds from and accessions to the foregoing.
(b) The liens and security interest granted by Subsection 4.3(a) shall secure every obligation and liability under the Agreement of the Member granting such liens and security interests to the other Member, including but not limited to the obligation to repay a Cover Payment pursuant to Section 11.4 of the LLC Operating Agreement. Each Member shall take all action necessary to perfect and maintain such liens and security interests and hereby appoints the other Member its attorney-in-fact to execute, file and record all financing statements and other documents necessary or appropriate to perfect or maintain such liens and security interests.
Grant of Lien and Security Interest. (a) Subject to Section 6.7, each Participant grants to the other Participant a lien upon and a security interest in its Participating Interest, including all of its right, title and interest in the Assets, whenever acquired or arising, and the proceeds from and accessions to the foregoing.
(b) The liens and security interests granted by Section 6.6(a) shall secure every obligation or liability of the Participant granting such lien or security interest created under this Agreement, including the obligation to repay a Cover Payment in accordance with Section
Grant of Lien and Security Interest. (a) Subject to SECTION 6.7, each Participant grants to the other Participant a lien upon and a security interest in its Participating Interest, including all of its right, title and interest in the Assets, whenever acquired or arising, and the proceeds from and accessions to the foregoing.
(b) The liens and security interests granted by SUBSECTION 6.6(A) shall secure every obligation or liability of the Participant granting such lien or security interest created under this Agreement, including the obligation to repay a Cover Payment in accordance with SECTION 10.
Grant of Lien and Security Interest. To secure the prompt and complete payment, performance and observance of all of the Obligations, Grantors hereby grant, assign, convey, mortgage, pledge, hypothecate and transfer to the Secured Party (i) a first priority Lien and security interest in the Assets, and (ii) a junior Lien on all Inventory, subordinated to the Liens granted in connection with the Tranche A Note and Tranche C Note.
Grant of Lien and Security Interest. (a) Borrower hereby acknowledges and confirms that the First Mortgage, as modified hereby, constitutes a first priority security conveyance of and first lien on the Property, subject only to the Permitted Exceptions set forth therein. Borrower hereby acknowledges and confirms that the Second Mortgage, as modified hereby, constitutes a second priority security conveyance of and second lien on the Property, subject only to the First Mortgage and to the Permitted Exceptions set forth in the Second Mortgage.
(b) In consideration of Lender's willingness to enter into this Agreement and (i) with respect to the First Mortgage, as security for Borrower's obligations under the Note and the other Loan Documents (as such terms are defined in the First Mortgage, as modified hereby), and (ii) with respect to the Second Mortgage, as security for Borrower's obligations under the Non-Recourse Guaranty Agreement (as defined in the Second Mortgage, as modified hereby), Borrower hereby (A) grants, bargains, sells, conveys, mortgages, and warrants unto Lender the entire right, title, interest and estate of Borrower in and to the Property, whether now owned or hereafter acquired; TO HAVE AND TO HOLD the same, together with all and singular the rights, hereditaments, and appurtenances in anywise appertaining or belonging thereto, unto Lender and Lender's successors, substitutes and assigns forever, and (B) grants to Lender a security interest in the Property, Chattels and Intangible Personalty (as defined in the First Mortgage and Second Mortgage, each as modified hereby), each on the terms and conditions set forth in the First Mortgage and Second Mortgage, as modified hereby. Notwithstanding anything to the contrary contained in this Agreement, recovery under the Second Mortgage continues to be limited to $20,000,000.00.
