Prior Security Agreement Clause Samples

Prior Security Agreement. The parties acknowledge there currently exists that certain Security Agreement (the "PRIOR AGREEMENT") dated as of June 1, 1996, by and between Debtor and Secured Party pursuant to which debtor granted Secured Party a security interest in certain of its Collateral as defined in such Prior Agreement. The parties agree that upon the execution and delivery of this Security Agreement to Secured Party, the Prior Agreement will be canceled and superseded in its entirety by this Agreement.

Prior Security Agreement. This Agreement is an amendment and restatement of the Prior Security Agreement. The liens and security interests granted pursuant to the Prior Security Agreement are hereby continued and shall remain in full force and effect, with all priorities intact.

Prior Security Agreement. This Security Agreement supersedes and replaces the Prior Security Agreement.

Prior Security Agreement. This Security Agreement supersedes and replaces that certain Security Agreement dated August 1, 1997 given by the Pledgor in favor of the Agent and the Lenders.

Prior Security Agreement. This Security Agreement constitutes an amendment and a restatement of that certain Loan and Security Agreement dated July 31, 2000 (the "Prior Security Agreement") executed by the Debtor in favor of the Bank in its entirety. The lien and security interest granted under the Prior Security Agreement continues and subsists under this Security Agreement.

Prior Security Agreement. This Security Agreement continues in full force and effect the terms, provisions and liens and security interests (including the priorities) of the Prior Security Agreement in all respects, except only as expressly amended or modified hereby, and for all purposes and the security interests and liens therein granted are hereby ratified, confirmed and continued without interruption whatsoever. WAIVER OF JURY TRIAL. BORROWERS, BANKS AND AGENT FULLY, VOLUNTARILY AND EXPRESSLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT OR UNDER ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED (OR WHICH MAY IN THE FUTURE BE DELIVERED) IN CONNECTION HEREWITH OR ARISING FROM ANY BANKING RELATIONSHIP EXISTING IN CONNECTION WITH THIS AGREEMENT, THE NOTE AND/OR THE SECURITY INSTRUMENTS. BORROWERS, BANKS AND AGENT AGREE THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

Prior Security Agreement. Notwithstanding anything to the ------------------------ contrary contained herein or in the Prior Security Agreement, Grantors' compliance with the terms hereof, as the same may be amended or further supplemented from time to time, shall constitute full compliance with all of the terms of the Prior Security Agreement.

Prior Security Agreement. This Restated Security Agreement continues in full force and effect the terms, provisions, liens and security interests (including the priorities thereof) of the Prior Security Agreement in all respects, except only as expressly amended or modified hereby, and for all purposes and the security interests and liens therein granted in favor of the Agent, as secured party, except only as previously released by such Agent, are hereby ratified, regranted, acknowledged, confirmed and continued in all respects without any interruption whatsoever.