Common use of Grant of Security Interest/Remedies Clause in Contracts

Grant of Security Interest/Remedies. To secure its obligations under this Agreement, the XXXX Supplier hereby grants to the Companies a present and continuing security interest in, and lien on (and right of setoff against), its right, title and interest, whether now owned or hereafter acquired or arising, in (i) all deposit accounts in the name of any Company or partially in the name of any Company or held for the benefit of any Company and all funds credited to any and all of the foregoing, (ii) all securities, instruments (including promissory notes), money (each of the foregoing terms as defined in the UCC), cash and other tangible property delivered to and held by any Company (or its agents or custodians) and (iii) all proceeds (as defined in the UCC) of any and all of the foregoing. The XXXX Supplier agrees to take such action as reasonably required to create and perfect the Companies' first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or at any time after the occurrence or deemed occurrence and during the continuation of an Event of Default where the XXXX Supplier is the Defaulting Party or an Early Termination Date (whether or not such XXXX Supplier was the Defaulting Party), the Companies may do any one or more of the following in any order: (i) exercise any of the rights and remedies of the Companies, including the right to set-off and liquidation, against any and all Margin Collateral or other collateral of such XXXX Supplier in the possession of the Companies, whether held in connection with this Agreement or any Other XXXX Supply Agreement, including any such rights and remedies under law then in effect, free from any claim or right of any nature whatsoever of such XXXX Supplier; (ii) draw on any outstanding Letter of Credit provided by such XXXX Supplier and (iii) exercise any and all rights remedies available to it under and against any First Mortgage Bonds delivered or pledged in accordance with Section 6.9(c). The Companies will apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce such XXXX Supplier’s obligation under this Agreement and under any Other XXXX Supply Agreement, and such XXXX Supplier shall remain liable for any amounts owing to the Companies after such application, subject to the Companies’ obligation to return any surplus proceeds remaining after all such obligations are satisfied in full.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement, the XXXX SSO Supplier hereby grants to the Companies a present and continuing security interest in, and lien on (and right of setoff against), its right, title and interest, whether now owned or hereafter acquired or arising, in in (i) all deposit accounts in the name of any Company or partially in the name of any Company or held for the benefit of any Company and all funds credited to any and all of the foregoing, (ii) all securities, instruments (including promissory notes), money (each of the foregoing terms as defined in the UCC), cash and other tangible property delivered to and held by any Company (or its agents or custodians) and (iii) all proceeds (as defined in the UCC) of any and all of the foregoing. The XXXX SSO Supplier agrees to take such action as reasonably required to create and perfect the Companies' first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or at any time after the occurrence or deemed occurrence and during the continuation of an Event of Default where the XXXX an SSO Supplier is the Defaulting Party or an Early Termination Date (whether or not such XXXX SSO Supplier was the Defaulting Party), the Companies may do any one or more of the following in any order: (i) exercise any of the rights and remedies of the Companies, including the right to set-off and liquidation, against any and all Margin Collateral or other collateral of such XXXX SSO Supplier in the possession of the Companies, whether held in connection with this Agreement or any Other XXXX SSO Supply Agreement, including any such rights and remedies under law then in effect, free from any claim or right of any nature whatsoever of such XXXX Supplier; SSO Supplier and (ii) draw on any outstanding Letter of Credit provided by such XXXX Supplier and (iii) exercise any and all rights remedies available to it under and against any First Mortgage Bonds delivered or pledged in accordance with Section 6.9(c)SSO Supplier. The Companies will apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce such XXXX SSO Supplier’s obligation under this Agreement and under any Other XXXX SSO Supply Agreement, and such XXXX SSO Supplier shall remain liable for any amounts owing to the Companies after such application, subject to the Companies’ obligation to return any surplus proceeds remaining after all such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit-related security or deposit transfers shall be sent in accordance with Section 13.1.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement, the XXXX SSO Supplier hereby grants to the Companies a present and continuing security interest in, and lien on (and right of setoff against), its right, title and interest, whether now owned or hereafter acquired or arising, in in (i) all deposit accounts in the name of any Company or partially in the name of any Company or held for the benefit of any Company and all funds credited to any and all of the foregoing, (ii) all securities, instruments (including promissory notes), money (each of the foregoing terms as defined in the UCC), cash and other tangible property delivered to and held by any Company (or its agents or custodians) and (iii) all proceeds (as defined in the UCC) of any and all of the foregoing. The XXXX SSO Supplier agrees to take such action as reasonably required to create and perfect the Companies' first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or at any time after the occurrence or deemed occurrence and during the continuation of an Event of Default where the XXXX an SSO Supplier is the Defaulting Party or an Early Termination Date (whether or not such XXXX SSO Supplier was the Defaulting Party), the Companies may do any one or more of the following in any order: (i) exercise any of the rights and remedies of the Companies, including the right to set-off and liquidation, against any and all Margin Collateral or other collateral of such XXXX Supplier in the possession of the Companies, whether held in connection with this Agreement or any Other XXXX Supply Agreement, including any such rights and remedies under law then in effect, free from any claim or right of any nature whatsoever of such XXXX Supplier; (ii) draw on any outstanding Letter of Credit provided by such XXXX Supplier and (iii) exercise any and all rights remedies available to it under and against any First Mortgage Bonds delivered or pledged in accordance with Section 6.9(c). The Companies will apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce such XXXX Supplier’s obligation under this Agreement and under any Other XXXX Supply Agreement, and such XXXX Supplier shall remain liable for any amounts owing to the Companies after such application, subject to the Companies’ obligation to return any surplus proceeds remaining after all such obligations are satisfied in full.other

Grant of Security Interest/Remedies. To secure its obligations under this Agreement, the XXXX SSO Supplier hereby grants to the Companies a present and continuing security interest in, and lien on (and right of setoff against), its right, title and interest, whether now owned or hereafter acquired or arising, in in (i) all deposit accounts in the name of any Company or partially in the name of any Company or held for the benefit of any Company and all funds credited to any and all of the foregoing, (ii) all securities, instruments (including promissory notes), money (each of the foregoing terms as defined in the UCC), cash and other tangible property delivered to and held by any Company (or its agents or custodians) and (iii) all proceeds (as defined in the UCC) of any and all of the foregoing. The XXXX SSO Supplier agrees to take such action as reasonably required to create and perfect the Companies' first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or at any time after the occurrence or deemed occurrence and during the continuation of an Event of Default where the XXXX an SSO Supplier is the Defaulting Party or an Early Termination Date (whether or not such XXXX SSO Supplier was the Defaulting Party), the Companies may do any one or more of the following in any order: (i) exercise any of the rights and remedies of the Companies, including the right to set-off and liquidation, against any and all ICR Collateral, Margin Collateral or other collateral of such XXXX SSO Supplier in the possession of the Companies, whether held in connection with this Agreement or any Other XXXX SSO Supply Agreement, including any such rights and remedies under law then in effect, free from any claim or right of any nature whatsoever of such XXXX SSO Supplier; (ii) draw on any outstanding Letter of Credit provided by such XXXX SSO Supplier and (iii) exercise any and all rights remedies available to it under and against any First Mortgage Bonds delivered or pledged in accordance with Section 6.9(c6.79(c). The Companies will apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce such XXXX SSO Supplier’s obligation under this Agreement and under any Other XXXX SSO Supply Agreement, and such XXXX SSO Supplier shall remain liable for any amounts owing to the Companies after such application, subject to the Companies’ obligation to return any surplus proceeds remaining after all such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit-related security or deposit transfers shall be sent in accordance with Section 13.1.

Grant of Security Interest/Remedies. ‌ To secure its obligations under this Agreement, the XXXX Supplier hereby grants to the Companies DP&L a present and continuing security interest in, and lien on (and right of setoff against), its right, title and interest, whether now owned or hereafter acquired or arising, in (i) all deposit accounts in the name of any Company DP&L or partially in the name of any Company DP&L or held for the benefit of any Company DP&L and all funds credited to any and all of the foregoing, (ii) all securities, instruments (including promissory notes), money (each of the foregoing terms as defined in the UCC), cash and other tangible property delivered to and held by any Company DP&L (or its agents or custodians) and (iii) all proceeds (as defined in the UCC) of any and all of the foregoing. The XXXX Supplier agrees to take such action as reasonably required to create and perfect the Companies' DP&L’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or at any time after the occurrence or deemed occurrence and during the continuation of an Event of Default where the XXXX Supplier is the Defaulting Party or an Early Termination Date (whether or not such XXXX Supplier was the Defaulting Party), the Companies DP&L may do any one or more of the following in any order: (i) exercise any of the rights and remedies of the CompaniesDP&L, including the right to set-off and liquidation, against any and all Margin Collateral or other collateral of such XXXX Supplier in the possession of the CompaniesDP&L, whether held in connection with this Agreement or any Other XXXX Supply Agreement, including any such rights and remedies under law then in effect, free from any claim or right of any nature whatsoever of such XXXX Supplier; Supplier and (ii) draw on any outstanding Letter of Credit provided by such XXXX Supplier and (iii) exercise any and all rights remedies available to it under and against any First Mortgage Bonds delivered or pledged in accordance with Section 6.9(c)Supplier. The Companies DP&L will apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce such XXXX Supplier’s obligation under this Agreement and under any Other XXXX Supply Agreement, and such XXXX Supplier shall remain liable for any amounts owing to the Companies DP&L after such application, subject to the Companies’ DP&L’s obligation to return any surplus proceeds remaining after all such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit-related security or deposit transfers shall be sent in accordance with Section 13.1.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement, the XXXX SSO Supplier hereby grants to the Companies a present and continuing security interest in, and lien on (and right of setoff against), its right, title and interest, whether now owned or hereafter acquired or arising, in (i) all deposit accounts in the name of any Company or partially in the name of any Company or held for the benefit of any Company and all funds credited to any and all of the foregoing, (ii) all securities, instruments (including promissory notes), money (each of the foregoing terms as defined in the UCC), cash and other tangible property delivered to and held by any Company (or its agents or custodians) and (iii) all proceeds (as defined in the UCC) of any and all of the foregoing. The XXXX SSO Supplier agrees to take such action as reasonably required to create and perfect the Companies' first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or at any time after the occurrence or deemed occurrence and during the continuation of an Event of Default where the XXXX an SSO Supplier is the Defaulting Party or an Early Termination Date (whether or not such XXXX SSO Supplier was the Defaulting Party), the Companies may do any one or more of the following in any order: (i) exercise any of the rights and remedies of the Companies, including the right to set-off and liquidation, against any and all ICR Collateral, Margin Collateral or other collateral of such XXXX SSO Supplier in the possession of the Companies, whether held in connection with this Agreement or any Other XXXX SSO Supply Agreement, including any such rights and remedies under law then in effect, free from any claim or right of any nature whatsoever of such XXXX SSO Supplier; (ii) draw on any outstanding Letter of Credit provided by such XXXX SSO Supplier and (iii) exercise any and all rights remedies available to it under and against any First Mortgage Bonds delivered or pledged in accordance with Section 6.9(c). The Companies will apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce such XXXX SSO Supplier’s obligation under this Agreement and under any Other XXXX SSO Supply Agreement, and such XXXX SSO Supplier shall remain liable for any amounts owing to the Companies after such application, subject to the Companies’ obligation to return any surplus proceeds remaining after all such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit-related security or deposit transfers shall be sent in accordance with Section 13.1.

Grant of Security Interest/Remedies. To secure its obligations under this Agreement, the XXXX Supplier hereby grants to the Companies DP&L a present and continuing security interest in, and lien on (and right of setoff against), its right, title and interest, whether now owned or hereafter acquired or arising, in (i) all deposit accounts in the name of any Company DP&L or partially in the name of any Company DP&L or held for the benefit of any Company DP&L and all funds credited to any and all of the foregoing, (ii) all securities, instruments (including promissory notes), money (each of the foregoing terms as defined in the UCC), cash and other tangible property delivered to and held by any Company DP&L (or its agents or custodians) and (iii) all proceeds (as defined in the UCC) of any and all of the foregoing. The XXXX Supplier agrees to take such action as reasonably required to create and perfect the Companies' DP&L’s first priority security interest in, and lien on (and right of setoff against), such collateral and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or at any time after the occurrence or deemed occurrence and during the continuation of an Event of Default where the XXXX Supplier is the Defaulting Party or an Early Termination Date (whether or not such XXXX Supplier was the Defaulting Party), the Companies DP&L may do any one or more of the following in any order: (i) exercise any of the rights and remedies of the CompaniesDP&L, including the right to set-off and liquidation, against any and all Margin Collateral or other collateral of such XXXX Supplier in the possession of the CompaniesDP&L, whether held in connection with this Agreement or any Other XXXX Supply Agreement, including any such rights and remedies under law then in effect, free from any claim or right of any nature whatsoever of such XXXX Supplier; Supplier and (ii) draw on any outstanding Letter of Credit provided by such XXXX Supplier and (iii) exercise any and all rights remedies available to it under and against any First Mortgage Bonds delivered or pledged in accordance with Section 6.9(c)Supplier. The Companies DP&L will apply the proceeds of the collateral realized upon the exercise of such rights or remedies to reduce such XXXX Supplier’s obligation under this Agreement and under any Other XXXX Supply Agreement, and such XXXX Supplier shall remain liable for any amounts owing to the Companies DP&L after such application, subject to the Companies’ DP&L’s obligation to return any surplus proceeds remaining after all such obligations are satisfied in full. All notices, demands or requests regarding credit requirements and credit-related security or deposit transfers shall be sent in accordance with Section 13.1.