Instruments/Chattel Paper. Accounts evidenced by a promissory note or other instrument;
Instruments/Chattel Paper. If any amount payable under or in connection with any of the Collateral shall be or become evidenced by any Instrument or Chattel Paper, immediately deliver such Instrument or Chattel Paper to the Agent, duly indorsed in a manner satisfactory to the Agent, to be held as Collateral pursuant to this Security Agreement.
Instruments/Chattel Paper. If any amount payable under or in ------------------------- connection with any of the Collateral shall be or become evidenced by any Instrument or Chattel Paper, promptly deliver such Instrument or Chattel Paper to the Lender, duly indorsed in a manner satisfactory to the Lender, to be held as Collateral pursuant to this Security Agreement.
Instruments/Chattel Paper. Any Collateral that is instruments, chattel paper and negotiable documents will be properly assigned to, the originals deposited with and held by Bank, unless Bank shall hereafter otherwise direct or consent in writing. Bank may, without notice, upon the occurrence and continuation of an Event of Default, exercise any or all rights of collection, conversion, or exchange and other similar rights, privileges and options pertaining to such Collateral, but shall have no duty to do so.
Instruments/Chattel Paper. If any amount in excess of $25,000 payable under or in connection with any of the Collateral shall be or become evidenced by any Instrument or Tangible Chattel Paper, or if any property constituting Collateral in excess of $25,000 shall be stored or shipped subject to a Document, ensure that such Instrument, Tangible Chattel Paper or Document is either in the possession of such Obligor at all times or, if requested by the Administrative Agent to perfect its security interest in such Collateral, is delivered to the Administrative Agent duly indorsed in a manner reasonably satisfactory to the Administrative Agent. Such Obligor shall ensure that any Collateral consisting of Tangible Chattel Paper is marked with a legend reasonably acceptable to the Administrative Agent indicating the Administrative Agent's security interest in such Tangible Chattel Paper.
Instruments/Chattel Paper. Any Collateral that is instruments, chattel paper and negotiable documents will be properly assigned to, deposited with and held by the Secured Party, unless the Secured Party shall hereafter otherwise direct or consent in writing. The Secured Party may, without notice, after the occurrence of an Event of Default, exercise any or all rights of collection, conversion, or exchange and other similar rights, privileges and options pertaining to the Collateral, but shall have no duty to do so.
Instruments/Chattel Paper. Promptly upon demand, the Grantor shall deliver to the Collateral Agent all Collateral consisting of negotiable Documents, certificated securities (accompanied by stock powers executed in blank), and Instruments promptly after the Grantor receives the same properly endorsed to the Collateral Agent in form and substance satisfactory to it. During the existence of an Event of Default, upon the request of the Collateral Agent, the Grantor shall deliver to the Collateral Agent all Collateral consisting of Chattel Paper promptly after the Grantor receives the same properly endorsed to the Collateral Agent in form and substance satisfactory to it, promptly upon demand. If the Grantor retains possession of any Documents, Instruments, or Chattel Paper with the Collateral Agent's consent or pursuant to the terms hereof, such Documents, Instruments, or Chattel Paper shall bear a legend substantially in the form set forth in Section 2.3(d) hereof.
Instruments/Chattel Paper. Except to the extent Indebtedness evidenced thereby does not exceed $50,000 outstanding at any time in the aggregate, Loan Parties will deliver and pledge to Administrative Agent all notes, negotiable Documents, certificated securities (other than any securities covered by a Pledge Agreement), Chattel Paper, and instruments (as defined in the UCC) duly endorsed and accompanied by duly executed instruments of transfer or assignment (including stock powers, allonges or other instruments of transfer executed in blank), all in form and substance satisfactory to Administrative Agent. If the Loan Parties retain possession of any Chattel Paper or Instruments with Administrative Agent's consent, the Loan Parties will mark conspicuously all chattel paper and instruments xxxh a legend, in form and substance satisfactory to Administrative Agent, indicating that such chattel paper or instrument is subject to the security interest of Administrative Agent, for the benefit of itself and Lenders. Borrowers shall take all steps necessary to grant to Administrative Agent control of all electronic chattel paper in accordance with any provisions of the UCC regarding same which may come into effect and all 'transferable records' as defined in each of the Uniform Electronic Transactions Act and the Electronic Signatures in Global and National Commerce Act." Without limiting the generality of the foregoing, Loan Parties will mark conspicuously all Account Agreements with the legend referred xx in the preceding paragraph."
(s) a new subsection 5.17 is added immediately after the end of subsection 5.16, such new subsection to be titled "Authorized Terminations" and to read as follows: "Upon payment and satisfaction in full in cash of all Obligations hereunder and termination of the Commitments in accordance with subsection 2.6, Administrative Agent shall deliver to the Loan Parties for filing or authorize each Loan Party to prepare and file termination statements, releases and other documents necessary or appropriate to evidence the termination of the Liens securing payment of the Obligations."
(t) subsection 6.2 of the Original Loan and Security Agreement is amended and restated in its entirety as follows:
Instruments/Chattel Paper. Any Collateral that is instruments, chattel paper and negotiable documents will be properly assigned to, deposited with and held by the Secured Party, unless the Secured Party shall hereafter otherwise direct or consent in writing; provided, however, that the Debtor shall not be obligated to deliver such instruments, chattel paper nor negotiable documents to the Secured Party so long as that collateral is pledged to the Agent to secure the loans by the Lenders under the PNC Credit Agreement as in effect on this date to the extent such loans are permitted under the Payment Terms Agreement. The Secured Party may, without notice, after the occurrence of an Event of Default, exercise any or all rights of collection, conversion, or exchange and other similar rights, privileges and options pertaining to the Collateral, but shall have no duty to do so.
Instruments/Chattel Paper. Deliver to the Collateral Agent all instruments and chattel paper valued in excess of $100,000 which represents or relates to the Collateral other than (i) instruments evidencing debt obligations from one Credit Party to another Credit Party and (ii) instruments evidencing debt obligations from employees of a 9 Credit Party to a Credit Party if such debt was incurred as a result of tax obligations attributed from the owning of stock options.
