Common use of Payment of Secured Indebtedness Clause in Contracts

Payment of Secured Indebtedness. The security interest created herein by each Debtor is given as security for the discharge and performance of the following obligations: all of such Debtor’s and the Borrower’s obligations contained in or arising under or in connection with the Credit Agreement, any Note, the Guaranty, any Interest Rate Protection Agreements, any other Loan Document or any other document or instrument executed in connection therewith, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due to become due, together with interest thereon; and also as security for all other indebtedness and liabilities, whether direct, indirect, absolute or contingent, owing by such Debtor or the Borrower to the Banks in any manner and at any time, whether due or hereafter to become due, now owing or that may hereafter be incurred by such Debtor or the Borrower to or acquired by the Banks, and any judgments that may hereafter be rendered on such indebtedness or any part thereof, with interest according to the rates and terms specified, or as provided by law, and any and all replacements, consolidations, amendments, renewals or extensions of the foregoing (collectively herein called the “Indebtedness”).

Appears in 2 contracts

Samples: Security Agreement (North Pointe Holdings Corp), Security Agreement (North Pointe Holdings Corp)

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Payment of Secured Indebtedness. The security interest created herein by each Debtor is given as security for the discharge and performance of the following obligations: all of such Debtor’s and the Borrower’s obligations contained in or arising under or in connection with the Credit Agreement, any Note, the any Guaranty, any Interest Rate Protection AgreementsBank Hedging Agreement, any other Loan Document or any other document or instrument executed in connection therewith, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due to become due, together with interest thereon; and also as security for all other indebtedness and liabilities, whether direct, indirect, absolute or contingent, owing by such Debtor or the Borrower to the Banks in any manner and at any time, whether due or hereafter to become due, now owing or that may hereafter be incurred by such Debtor or the Borrower to or acquired by the Banks, and any judgments that may hereafter be rendered on such indebtedness or any part thereof, with interest according to the rates and terms specified, or as provided by law, and any and all replacements, consolidations, amendments, renewals or extensions of the foregoing (collectively herein called the “Indebtedness”).

Appears in 2 contracts

Samples: Security Agreement (Quantum Fuel Systems Technologies Worldwide Inc), Security Agreement (Quantum Fuel Systems Technologies Worldwide Inc)

Payment of Secured Indebtedness. The security interest created herein by each Debtor is given as security for the discharge and performance of the following obligations: all of such Debtor’s and the Borrower’s 's obligations contained in or arising under or in connection with the Credit Agreement, any Note, the Guaranty, any Interest Rate Protection AgreementsBank Hedging Agreement, any other Loan Document or any other document or instrument executed in connection therewith, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due to become due, together with interest thereon; and also as security for all other indebtedness and liabilities, whether direct, indirect, absolute or contingent, owing by such Debtor or the Borrower to the Banks in any manner and at any time, whether due or hereafter to become due, now owing or that may hereafter be incurred by such Debtor or the Borrower to or acquired by the Banks, and any judgments that may hereafter be rendered on such indebtedness or any part thereof, with interest according to the rates and terms specified, or as provided by law, and any and all replacements, consolidations, amendments, renewals or extensions of the foregoing (collectively herein called the "Indebtedness").

Appears in 1 contract

Samples: Security Agreement (Aspect Communications Corp)

Payment of Secured Indebtedness. The Each security interest created herein hereunder by each Debtor a Debtor's delivery of a Purchase Money Loan Initial Request is given as security for the discharge and performance of the following obligations: all of such Debtor’s and the Borrower’s 's obligations contained in or arising under or as principal obligor in connection with the Credit Purchase Money Loan identified in the applicable Purchase Money Loan Initial Request and funded pursuant to the Purchase Money Loan Agreement, any Note, the Guaranty, any Interest Rate Protection Agreements, any Purchase Money Notes executed by such Debtor and the other Purchase Money Loan Document or any other document or instrument executed in connection therewith, howsoever created, arising or evidencedDocuments, whether direct or indirect, absolute or contingent, such indebtedness is now or hereafter existing, or due or to become due, together with interest thereonthereon as set forth therein; and also as security for all other indebtedness and liabilities, whether direct, indirect, absolute or contingent, owing by such Debtor or the Borrower to the Banks in any manner and at any time, whether due or hereafter to become due, now owing or that may hereafter be incurred by such Debtor or the Borrower to or acquired by the Banks, and any judgments that may hereafter be rendered on such indebtedness or any part thereof, with interest according to the rates and terms specified, or as provided by law, and any and all replacements, consolidations, amendments, renewals or extensions of the foregoing (collectively herein called the "Purchase Money Indebtedness").

Appears in 1 contract

Samples: Purchase Money Security Agreement (Walbro Corp)

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Payment of Secured Indebtedness. The security interest created herein by each Debtor is given as security for the discharge and performance of the following obligations: all of such Debtor’s and the Borrower’s 's obligations contained in or arising under or in connection with the Credit Agreement, any Note, the Guaranty, any Interest Rate Protection Agreements, any other Loan Document or any other document or instrument executed in connection therewith, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due to become due, together with interest thereon; and also as security for all other indebtedness and liabilities, whether direct, indirect, absolute or contingent, owing by such Debtor or the Borrower to the Banks in any manner and at any time133 EXHIBIT 10.1 time pursuant to the Credit Agreement, whether due or hereafter to become due, now owing or that may hereafter be incurred by such Debtor or the Borrower to or acquired by the Banks, and any judgments that may hereafter be rendered on such indebtedness or any part thereof, with interest according to the rates and terms specified, or as provided by law, and any and all replacements, consolidations, amendments, renewals or extensions of the foregoing (collectively herein called the "Indebtedness").

Appears in 1 contract

Samples: Security Agreement (Aqua Chem Inc)

Payment of Secured Indebtedness. The security interest created herein by each Debtor is given as security for the discharge and performance of the following obligations: all of such Debtor’s 's and the Borrower’s 's obligations contained in or arising under or in connection with the Credit Agreement, any Note, the Guaranty, any Interest Rate Protection Agreements, any other Loan Document or any other document or instrument executed in connection therewith, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing, or due to become due, together with interest thereon; and also as security for all other indebtedness and liabilities, whether direct, indirect, absolute or contingent, owing by such Debtor or the Borrower to the Banks in any manner and at any time, whether due or hereafter to become due, now owing or that may hereafter be incurred by such Debtor or the Borrower to or acquired by the Banks, and any judgments that may hereafter be rendered on such indebtedness or any part thereof, with interest according to the rates and terms specified, or as provided by law, and any and all replacements, consolidations, amendments, renewals or extensions of the foregoing (collectively herein called the "Indebtedness").

Appears in 1 contract

Samples: Security Agreement (North Pointe Holdings Corp)

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