Common use of Merchant’s Grant of Security Interest Clause in Contracts

Merchant’s Grant of Security Interest. To secure Merchant’s performance of its obligations under this Agreement, and any other agreement with Bank, Merchant grants Bank a security interest in each Charge and its proceeds, the Settlement Account, the Reserve Account and any other deposit account of Merchant with a financial institution, whether now existing or established in the future, and in the proceeds of all those accounts, any funds due Merchant from Bank, any of Merchant’s property held by Bank, and any inventory with respect to which a Charge has occurred but has not yet been fulfilled (collectively, the “Secured Assets”). Pursuant to Article 9 of the Uniform Commercial Code, as amended from time to time, Bank has control over and may direct the disposition of the Secured Assets without further notice, demand, or consent of the Merchant. The security interests granted under this Agreement will continue after this Agreement terminates, until Merchant satisfies all of its payment and other obligations to Bank.

Merchant’s Grant of Security Interest. To secure Merchant’s performance of its obligations under this Agreement, and any other agreement with Bank, Merchant grants Bank a security interest in each Charge and its proceeds, the Settlement Account, the Reserve Account and any andany other deposit account of Merchant with a financial withafinancial institution, whether now existing or established in the future, and in the inthe proceeds of all those accounts, any funds due Merchant from Bank, any of Merchant’s property held by Bank, and any inventory with respect to which a Charge has occurred but has not yet been fulfilled (collectively, the “Secured Assets”). Pursuant to Article 9 of the Uniform Commercial Code, as amended from time to time, Bank has control over and may direct the disposition of the Secured Assets without further notice, demand, or consent of the Merchant. The security interests granted under this Agreement will continue after this Agreement terminates, until Merchant satisfies all of its payment and other obligations to Bank.

Merchant’s Grant of Security Interest. To secure Merchant’s performance of its obligations under this Agreement, and any other agreement with Bank, Merchant grants Bank a security interest in each Charge and its proceeds, the Settlement Account, the Reserve Account and any andany other deposit account of Merchant with a financial institution, whether now existing or established in the futurethefuture, and in the proceeds of all those accounts, any funds due Merchant from Bank, any of Merchant’s property held by Bank, and any inventory with respect to which a Charge has occurred but has not yet been fulfilled (collectively, the “Secured Assets”). Pursuant to Article 9 of the Uniform Commercial Code, as amended from time to time, Bank has control over and may direct the disposition of the Secured Assets without further notice, demand, or consent of the Merchant. The security interests granted under this Agreement will continue after this Agreement terminates, until Merchant satisfies all of its payment and other obligations to Bank.