Loan Security. Such Mortgage Loan is secured by a Mortgage on a fee simple interest and/or a leasehold estate in a commercial property or multifamily property, including the related Mortgagor's interest in the improvements on the related Mortgaged Property.
Loan Security. The payment and performance of the Loan Obligations shall at all times be secured as follows:
Loan Security. 12.1 If you choose to borrow money from us, some or all of your savings will be subject to our right of set-off in accordance with Clauses 1.7 and 5 against the loan taken out by you up to the principal amount outstanding on the loan plus any such interest or expenses due to us in respect of the loan. You further agree that such monies may also be held as security for such. Therefore to the fullest extent permitted by law, as continuing security for the payment and discharge of all liabilities you may owe to CCB from time to time you hereby with full title guarantee charge to CCB by way of first fixed charge, all of your present and future right, title, benefit and interest in and to your account or accounts and all monies from time to time standing to the credit of your account/s, together with all other rights and benefits accruing to or arising in connection with your account/s (including, but not limited to, entitlements to interest).
12.2 Under those circumstances, you will not be permitted to withdraw from your savings if to do so would reduce the balance to an amount less than your total liability to us under the loan agreement.
Loan Security. The advances shall be extended on an unsecured basis; however, the Borrower shall not, without the prior written consent of the Bank, permit or suffer to exist any lien, charge, encumbrance, or security interest in or upon the Borrower's business assets, with the exception of floor plan lines of credit occurring in the normal course of business, in as much as they do not adversely impact the financial covenants detailed in this agreement
Loan Security. Notwithstanding anything to the contrary in this Section 3.10, a Participant may not make a withdrawal pursuant to this Section of any portion of the Participants vested interest which has been assigned to secure repayment of a loan in accordance with Section 11.10, below, until such time as the Committee shall have released said portion so assigned.
Loan Security. The Term Notes, this Loan Agreement and all obligations under the other Loan Documents shall be secured by (i) a first priority security interest, subject to Permitted Liens, on all of the Collateral (the “Security Interest”) on the terms set forth in Section 3, (ii) a source code escrow agreement, with an independent third party, in a form and substance reasonably acceptable to the Lenders, (iii) a pledge of one hundred percent (100%) of all equity interests of Borrower’s domestic subsidiaries, and (iv) a pledge of sixty-five percent (65%) of all equity interests owned by the Borrower in the Foreign Subsidiaries. Up to Five Hundred Thousand Dollars ($500,000) of the Indebtedness shall be personally guaranteed by Xxxxxx Xxxxxxxx, pursuant to the Personal Guaranty. The Personal Guaranty shall be secured by a pledge by Xx. Xxxxxxxx of all equity interests he owns in the Borrower. Notwithstanding anything to the contrary in the Loan Agreement, or under applicable law, if the grant of any security interests herein, the Guaranty or Xx. Xxxxxxxx’x pledge of SofTech Stock, would result in the termination or breach of a Contract to which the Borrower is a party, or the Intellectual Property, then the applicable Contract or Intellectual Property will not be subject to the Security Interest and will not be considered a part of the Collateral, but in each case only to the extent, and for as long as, such relevant term is not terminated or rendered unenforceable or otherwise deemed ineffective by the Code or any other applicable law or a consent or waiver to such grant with respect to such term is not obtained. Immediately upon the lapse, termination, unenforceability or ineffectiveness of any such term or the grant of a consent or waiver to such grant with respect to such term, the Collateral shall include, and the Borrower shall be deemed to have automatically granted a security interest in, any such Contract or Intellectual Property.
Loan Security. A. Unless otherwise shown on the Contract Declarations Page, this loan shall be secured by a general obligation pledge of the taxing power of the Contractor.
B. Except as otherwise noted in this subsection, if a revenue-based obligation is shown on the Declarations Page, the loan shall be a senior lien obligation payable from all revenues legally available to the Contractor.
C. Subject to Board approval, the Contractor may request the loan be obligated as a junior lien revenue pledge if it can be shown that the issuance of additional parity senior lien revenue debt in the requested amount would violate one or more covenants of the outstanding debt. Nothing in this section shall absolve the Contractor of its obligation to make loan repayments when due, and to adjust rates, fees, or surcharges, if necessary, to meet its obligations under this Contract.
Loan Security. It is a continuing condition of the Loan that the repayment of the Loan and all other amounts outstanding under or in connection with the Finance Documents be secured by the Security Documents and that all the Security Documents remain duly registered and perfected (as the case may be) until the full and final discharge of any amount due under the Finance Documents to the Lender’s satisfaction.
Loan Security. The UFSWQD pledges to repay the Loan from service and user charges enacted under ORS 550.330 and from any other legally available funds of the UFSWQD.
Loan Security. The loan under this Contract shall be secured in form of mortgage and pledge on right to collect electricity fees. The security contracts shall be separately concluded. In case of maximum amount security, the number of security contracts shall be 33902200900027199 and 33904200900011229.
