PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Xxxxxxxxx agrees:
A. To make all payments when due and to perform or comply with all covenants.
B. To promptly deliver to Lender any notices that Xxxxxxxxx receives from the holder.
C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Xxxxxx’s prior written consent.
PRIOR SECURITY INTERESTS. The Liens in the Collateral granted to the Administrative Agent for the benefit of the Lenders pursuant to the Collateral Documents constitute and will continue to constitute first priority, perfected security interests, except in the case of (a) Permitted Liens, to the extent any such Permitted Liens would have priority over Liens in favor of the Administrative Agent pursuant to any applicable law and (b) Liens perfected only by possession, to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral. All filing fees and other expenses in connection with the perfection of such Liens have been or will be paid by the Loan Parties.
PRIOR SECURITY INTERESTS. (a) In addition to the Mortgagee’s powers under Clause 9.3 (Mortgagee’s powers), the Mortgagee may:
(i) redeem any prior Security Interest against any Collateral;
(ii) procure the transfer of the Security Interest to it; or
(iii) settle and pass the accounts of the holder of the Security Interest, and those accounts will be, in the absence of manifest error, conclusive and binding on the Mortgagor.
(b) The Mortgagor must pay the Mortgagee, immediately on demand, any reasonable and documented out-of-pocket cost or expense (including any principal or interest) incurred by it in connection with any redemption or transfer.
PRIOR SECURITY INTERESTS. HTFC acknowledges that its security interest in the Collateral, and HTFC's rights under this Agreement, are subject and subordinate to (a) a security interest held by the "Senior Lender" identified on the cover page, to secure funds that were loaned to Shareholder or that may, in the future, be advanced to Shareholder; and (b) extensions, renewals and replacements of such security interest without regard to the amount secured, provided only that HTFC's security interest shall not be subordinate to more than one such security interest at any time. The holder of such superior security interest is called the Senior Lender, even though such security interest may be held by a successor to the Senior Lender identified on the cover page or by another lender entirely. HTFC acknowledges that its security interest is and will also be subordinate to a security interest afforded to the Cooperative Corporation to secure fulfillment of Shareholder's obligations under the Proprietary Lease. WHEN RECAPTURE OCCURS. The date on which the Recapture Obligation becomes due and payable is sometimes called the "Recapture Date". As described below, in certain cases the Recapture Obligation becomes due and payable (an event that is sometimes referred to in this Agreement as "recapture") without the necessity of notice or action by HOME LPA or HTFC, while in other cases HOME LPA or HTFC must give notice to effect recapture. The Recapture Obligation shall become immediately due and payable in any one or more of the following events: Upon prior notice by HOME LPA or HTFC to Shareholder that Shareholder failed to make any payment due to the Senior Lender within sixty (60) days after the date on which it was due and Shareholder does not make such payments within thirty (30) days after such notice; Upon prior notice by HOME LPA or HTFC to Shareholder that Senior Lender has notified Shareholder that Shareholder has defaulted with respect to any material obligation imposed on Shareholder by the loan documents evidencing and securing Senior Lender's loan, and Shareholder has not cured such default within any period provided in such loan documents for the cure of such default; Without the need for notice or action by HOME LPA or HTFC, if Shareholder sells or otherwise transfers the Shares, or assigns Shareholder's leasehold under the Proprietary Lease, other than to an "Approved Resale Purchaser" as described below; Upon prior notice to Shareholder by HOME LPA or HTFC that Shareholder has s...
PRIOR SECURITY INTERESTS. (a) In addition to the powers specified in Clause 7.2 (Powers), the Security Agent may:
(i) redeem any prior Security Interest in any Collateral;
(ii) procure the transfer of that Security Interest to itself; and/or
(iii) settle and approve the accounts of the holder of that Security Interest and any accounts so settled and approved will be, in the absence of manifest error, conclusive and binding on the Grantor.
(b) All sums paid by the Security Agent to redeem or transfer a prior Security Interest will:
(i) be owed by the Grantor to the Security Agent;
(ii) be repayable on demand;
(iii) bear interest at the Default Rate; and
(iv) form part of the Secured Liabilities.
PRIOR SECURITY INTERESTS. (i) At any time after the occurrence of an Event of Default which is continuing, the Chargee may, at the sole cost of the Chargor (payable to the Chargee on demand):
(A) redeem any prior Security against any Charged Property; and/or
(B) procure the transfer of that Security to itself; and/or
(C) settle and pass the accounts of the prior mortgagee, chargee or encumbrancer; any accounts so settled and passed will be, in the absence of manifest error, conclusive and binding on the Chargor.
(ii) The Chargor must pay to the Chargee, the costs and expenses incurred by the Chargee in connection with any such redemption and/or transfer, including the payment of any principal or interest in accordance with Clause 23.2 (Fees, costs and expenses).
PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other lien document that created a prior security interest or encumbrance on the Property, Xxxxxxxxx agrees:
A. To make all payments when due and to perform or comply with all covenants.
B. To promptly deliver to Lender any notices that Xxxxxxxxx receives from the holder.
C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Xxxxxx’s prior written consent except for transactions with the State of South Dakota Board of Economic Development or Comerica. MANITEX LOAD KING, INC. South Dakota Mortgage Initials
PRIOR SECURITY INTERESTS. This Security Agreement constitutes an amendment, restatement and modification of that certain Sixth Amended and Restated Security Agreement and Assignment from Debtor, Equity Compression Services Corporation, Equity Compressors, Inc. and Sunterra Energy Corporation, as debtors, granting liens and security interests in all of such Debtors' properties and assets to Bank of Oklahoma, National Association ("BOK") as collateral agent and Secured Party, dated as of December 19, 1997, together with the Prior Security Agreements therein described, as such prior liens and security interests were transferred and assigned by BOK to Secured Party on even date herewith pursuant to an Assignment of Note, Liens and Related Documents. Debtor hereby ratifies, confirms and adopts said prior liens and security interests which shall be extended, renewed and carried forward under the terms of this Security Agreement. None of the rights, titles and interests existing and to exist in favor of BOK and its assignees and other lenders in connection with said prior liens and security interests are hereby released, diminished or impaired, and any existing financing statements covering the Collateral shall continue to preserve, protect and perfect all such existing rights, titles and interests.
PRIOR SECURITY INTERESTS. After an Event of Default occurs, the Chargee may pay any money it thinks fit in full or partial discharge of the money secured by any Security Interest having priority over this charge, and the money so paid forms part of the Secured Money. Fixed and Floating Charge HXXXX XXXXX YORK
PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement, or other lien document that created a prior security interest or encumbrance on the Mortgaged Property and that may have priority over this Mortgage, Xxxxxxxxx agrees: covenants. the holder.
A. To make all payments when due and to perform or comply with all
B. To promptly deliver to Mortgagee any notices that Xxxxxxxxx receives from
C. Not to make or permit any modification or extension of, and not to request or accept any future advances under any note or agreement secured by, the other mortgage, deed of trust, or security agreement unless Mortgagee consents in writing.
