Proceeds, Supporting Obligations and Future Advances Sample Clauses

Proceeds, Supporting Obligations and Future Advances. The practitioner should be aware that where a security interest in collateral has priority over other security interests (under the special rules for Deposit Accounts (UCC §9-327), Investment Property (UCC §9-328), Letter-of-Credit Rights (UCC §9-329), priority of purchasers of Chattel Paper or Instruments (UCC §9-330) or priority of rights of purchasers of Instruments, documents and securities under other articles (UCC §9-331)), the security interest may also have priority over a conflicting security interest in the proceeds of these categories of collateral. These rules, found at UCC §9-322 (c) and (d) contain limitations based on the type of collateral, method of perfection and are subject to other sections of the UCC. Limited special priority rules exist for securing future advances. In sum, the only time priority of a security interest in a future advance is based on the time of the advance is when the security interest is perfected upon attachment pursuant to UCC §9-309 or temporarily perfected pursuant to UCC §9-312 (e) through (g) and if the future advance is not made pursuant to a credit commitment entered into while the security interest was perfected by another method. Once a different method of perfection is used, as would normally be the case, then the normal priority rules of UCC §9-322, first to file or perfect, would apply. See, UCC §9-323. Once again, these special priority rules are subject to exceptions and the rights of others including buyers of receivables, buyers of goods and lessees of goods.
Sample 1
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Related to Proceeds, Supporting Obligations and Future Advances

  • Additions to Existing Obligations Notwithstanding anything in this Agreement to the contrary, if, as a result of any legislative, judicial, regulatory or other governmental decision, order, determination or action, or any change in Applicable Law subsequent to the Effective Date, CenturyLink is required by such change in Applicable Law to provide a service not already provided to CLEC under the terms of this Agreement, the Parties agree to add or modify, in writing, the affected term(s) and condition(s) of this Agreement to the extent necessary to bring them into compliance with such change in Applicable Law. The Parties shall initiate negotiations to add or modify such terms upon the written request of a Party. If the Parties cannot agree to additional or modified terms to amend the Agreement, the Parties shall submit the dispute to dispute resolution pursuant to the procedures set forth in this Agreement.

  • Reporting Obligations As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings. The Company further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Common Stock held by such Holder without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission), including providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

  • PROCUREMENT OBLIGATIONS Notwithstanding any other provisions of this Part B, where in this Part B the Customer accepts an obligation to procure that a Former Supplier does or does not do something, such obligation shall be limited so that it extends only to the extent that the Customer's contract with the Former Supplier contains a contractual right in that regard which the Customer may enforce, or otherwise so that it requires only that the Customer must use reasonable endeavours to procure that the Former Supplier does or does not act accordingly.

  • Funding Obligations 6.1 Grantee acknowledges that HHSC’s obligation for payment, in consideration of full and satisfactory performance of activities described in this Contract, is limited to monies received from the Administration on Aging (“AoA”), the State, and any other funding source.

  • Local Church’s Payment Obligations At Closing or otherwise prior to or on the Disaffiliation Date, Local Church shall pay to the Annual Conference, in a manner specified by Annual Conference, the following:

  • Sub-processor Obligations MailChimp shall: (i) enter into a written agreement with the Sub-processor imposing data protection terms that require the Sub-processor to protect the Customer Data to the standard required by Data Protection Laws; and (ii) remain responsible for its compliance with the obligations of this DPA and for any acts or omissions of the Sub-processor that cause MailChimp to breach any of its obligations under this DPA.

  • STUDENT OBLIGATIONS The student agrees to use the property as his or her personal residence. The student shall maintain the interior of the property in a reasonably clean and safe condition, use reasonable care in consumption of utilities and services furnished by the landlord, and avoid unreasonable noise or other disruption of the privacy and peaceful enjoyment of the premises by the landlord and other students. The student shall be responsible for any damage to the property beyond reasonable wear and tear by the student, members of the student's family, or persons invited on the property by the student. The student shall not make, or cause to be made, any alterations to the property or its contents without first obtaining the written consent of the landlord. The student agrees to notify the landlord in writing about any needed repairs or violations of the Honor Code or Residential Living Standards involving other students or residents. *The BYU Student agrees to update their residential address on myBYU each semester/term, failure to do so will result in non-compliance fees of up to $175 and housing holds affecting their ability to register.

  • Additional Obligations of Applicant Section 8.1.

  • Client Obligations 3.1 The Client shall:

  • Evidence Supporting Claim 1.1.1 When taking leave for personal illness or injury, the employee must, if required by the Company, establish by production of a medical certificate or statutory declaration, that the employee was unable to work because of injury or personal illness.

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