One General Obligation; Cross Collateral. The Merchant understands and agrees that all loans and advances by Lender to Merchant under this Agreement, all Advance Schedules and the other Related Agreements, constitute one loan, and all indebtedness and obligations of Merchant to Lender under this Agreement and all Advance Schedules, present and future, constitute one general obligation secured by the Collateral and security held and to be held by Lender hereunder and by virtue of all other agreements between Merchant (and all guarantors) and Lender now and hereafter existing, including the Related Agreements. If more than one Merchant, each Merchant shall be jointly and severally liable for payment of all of the obligations hereunder, the Related Agreements and under any other agreement between Lender and any Merchant. It is distinctly understood and agreed that all of the rights of Lender contained in this Agreement shall likewise apply insofar as applicable to any modification of or supplement to this Agreement and to any other agreements, present and future, between the Lender and Merchant, including the related Agreements.
Appears in 2 contracts
Samples: Credit Card Receivables Advance Agreement (Liberator, Inc.), Credit Card Receivables Advance Agreement (WES Consulting, Inc.)
One General Obligation; Cross Collateral. The Merchant Each Borrower understands and agrees that all loans and advances by Lender to Merchant Borrowers under this Agreement, all Advance Schedules and the other Related Agreements, constitute one loan, and all indebtedness and obligations of Merchant Borrowers to Lender under this Agreement and all Advance Schedules, present and future, constitute one general obligation secured by the Collateral and security held and to be held by Lender hereunder and by virtue of all other agreements between Merchant Borrowers (and all guarantors) and Lender now and hereafter existing, including the Related Agreements. If more than one MerchantBorrower, each Merchant Borrower shall be jointly and severally liable for payment of all of the obligations hereunder, under the Related Agreements and under any other agreement between Lender and any MerchantBorrowers. It is distinctly understood and agreed that all of the rights of Lender contained in this Agreement shall likewise apply insofar as applicable to any modification of or supplement to this Agreement and to any other agreements, present and future, between the Lender and MerchantBorrowers, including the related Agreements.
Appears in 2 contracts
Samples: Credit Card Receivables Advance Agreement (Photomedex Inc), Credit Card Receivables Advance Agreement (Photomedex Inc)
One General Obligation; Cross Collateral. The Merchant Borrower understands and agrees that all loans and advances by Lender to Merchant Borrower under this Agreement, all Advance Schedules and the other Related Agreements, constitute one loan, and all indebtedness and obligations of Merchant Borrower to Lender under this Agreement and all Advance Schedules, present and future, constitute one general obligation secured by the Collateral and security held and to be held by Lender hereunder and by virtue of all other agreements between Merchant Borrower (and all guarantors) and Lender now and hereafter existing, including the Related Agreements. If more than one MerchantBorrower, each Merchant Borrower shall be jointly and severally liable for payment of all of the obligations hereunder, the Related Agreements and under any other agreement between Lender and any MerchantBorrower. It is distinctly understood and agreed that all of the rights of Lender contained in this Agreement shall likewise apply insofar as applicable to any modification of or supplement to this Agreement and to any other agreements, present and future, between the Lender and MerchantBorrower, including the related Agreements.
Appears in 1 contract
Samples: Accounts Receivable Advance Agreement (XpresSpa Group, Inc.)
One General Obligation; Cross Collateral. The Merchant Borrower understands and agrees that all loans and advances by Lender to Merchant Borrower under this Agreement, all Advance Schedules and the other Related Agreements, constitute one loan, and all indebtedness and obligations of Merchant Borrower to Lender under this Agreement and Agreement, all Advance SchedulesSchedules and the Related Agreements, present and future, constitute one general obligation secured by the Collateral and security held and to be held by Lender hereunder and by virtue of all other agreements between Merchant (and all guarantors) and Lender now and hereafter existing, including the Related Agreements. If more than one MerchantBorrower, each Merchant Borrower shall be jointly and severally liable for payment of all of the obligations hereunder, the Related Agreements and under any other agreement between Lender and any MerchantBorrower. It is distinctly understood and agreed that all of the rights of Lender contained in this Agreement shall likewise apply insofar as applicable to any modification of or supplement to this Agreement and to any other agreements, present and future, between the Lender and Merchant, including the related Related Agreements.
Appears in 1 contract
Samples: Credit Card Receivables Advance Agreement (Vapor Corp.)