Permitted Loans. Simultaneous with a Permitted Loan the Borrower shall (i) deliver to the Lenders any and all documents related to such Permitted Loan, including without limitation any and all notes evidencing such Permitted Loan (collectively “Permitted Loan Documents”), (ii) notify, in writing, each borrower under such Permitted Loan that the Lenders hold a security interest in the Permitted Loan, and the Lenders have possession of the Permitted Loan Documents.
Appears in 2 contracts
Samples: Loan, Pledge and Security Agreement, Loan, Pledge and Security Agreement (Softech Inc)
Permitted Loans. Simultaneous with a Permitted Loan the Borrower shall (i) deliver to the Lenders Lender any and all documents related to such Permitted Loan, including without limitation any and all notes evidencing such Permitted Loan (collectively “Permitted Loan Documents”), (ii) notify, in writing, each borrower under such Permitted Loan that the Lenders hold Lender holds a security interest in the Permitted Loan, and the Lenders have Lender has possession of the Permitted Loan Documents.
Appears in 2 contracts
Samples: Loan, Pledge and Security Agreement (Softech Inc), Loan, Pledge and Security Agreement (Softech Inc)
