Obligations of Secured Party. Secured Party has no obligation to make any loans hereunder. Any money received by Secured Party in respect of the Collateral may be deposited, at Secured Party's option, into a non-interest bearing account over which Debtor shall have no control, and the same shall, for all purposes, be deemed Collateral hereunder.
Appears in 2 contracts
Samples: Security Agreement (Englobal Corp), Security Agreement (Interactive Television Networks)
Obligations of Secured Party. Secured Party has no obligation to make any loans hereunder. Any money received by Secured Party in respect of the Collateral may be deposited, at Secured Party's option, into a non-interest bearing account over which Debtor Grantor shall have no control, and the same shall, for all purposes, be deemed Collateral hereunder.and
Appears in 2 contracts
Samples: Security Agreement (Arcturus Therapeutics Holdings Inc.), Security Agreement (Arcturus Therapeutics Holdings Inc.)
Obligations of Secured Party. Secured Party has no obligation to make any loans hereunder. Any money received by Secured Party in respect of the Collateral and Proceeds may be deposited, at Secured Party's option, into a non-non- interest bearing account over which Debtor shall have no control, and the same shall, for all purposes, be deemed Collateral hereunder.
Appears in 1 contract
Obligations of Secured Party. Secured Party has no obligation to make any loans or other financial accommodations hereunder. Any money received by Secured Party in respect of the Collateral may be deposited, at Secured Party's ’s option, into a non-interest bearing account over which Debtor Debtors shall have no control, and the same shall, for all purposes, be deemed Collateral hereunder.
Appears in 1 contract
