One General Obligation; Cross Collateral. Each Borrower understands and agrees that all loans and advances by Lender to Borrowers under this Agreement, all Advance Schedules and the other Related Agreements, constitute one loan, and all indebtedness and obligations of 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 Borrowers (and all guarantors) and Lender now and hereafter existing, including the Related Agreements. If more than one Borrower, each 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 Borrowers. 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 Borrowers, 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. Each Borrower The Merchant understands and agrees that all loans and advances by Lender to Borrowers Merchant under this Agreement, all Advance Schedules and the other Related Agreements, constitute one loan, and all indebtedness and obligations of Borrowers 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 Borrowers Merchant (and all guarantors) and Lender now and hereafter existing, including the Related Agreements. If more than one BorrowerMerchant, each Borrower Merchant 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 BorrowersMerchant. 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 BorrowersMerchant, 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. Each The Borrower understands and agrees that all loans and advances by Lender to Borrowers Borrower under this Agreement, all Advance Schedules and the other Related Agreements, constitute one loan, and all indebtedness and obligations of Borrowers 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 Borrowers Borrower (and all guarantors) and Lender now and hereafter existing, including the Related Agreements. If more than one Borrower, each 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 BorrowersBorrower. 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 BorrowersBorrower, including the related Agreements.
Appears in 1 contract
Samples: Accounts Receivable Advance Agreement (XpresSpa Group, Inc.)
One General Obligation; Cross Collateral. Each The Borrower understands and agrees that all loans and advances by Lender to Borrowers Borrower under this Agreement, all Advance Schedules and the other Related Agreements, constitute one loan, and all indebtedness and obligations of Borrowers 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 Borrowers (and all guarantors) and Lender now and hereafter existing, including the Related Agreements. If more than one Borrower, each 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 BorrowersBorrower. 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 Borrowers, including the related Related Agreements.
Appears in 1 contract
Samples: Advance Agreement (Vapor Corp.)