Common use of Purchase Money Security Interest Clause in Contracts

Purchase Money Security Interest. (a) Seller reserves and Customer agrees that Seller shall have a purchase money security interest in all Products and Licensed Materials heretofore supplied or hereafter supplied to Customer by Seller under this Agreement until any and all payments and charges due Seller under this Agreement including, without limitation, shipping and installation charges, are paid in full. Seller shall have the right, at any time during the Term and without notice to Customer, to file in any state or local jurisdiction such financing statements (e.g., UCC-1 financing statements) as Seller deems necessary to perfect its purchase money security interest hereunder. Upon request by Seller, Customer hereby agrees to execute all documents necessary to secure Sellers purchase money security interest including without limitation, UCC-1 or such other documents Seller deems reasonably necessary. Notwithstanding the foregoing obligation of Customer to execute, Customer hereby irrevocably appoints Seller as its attorney-in-fact for purposes of executing and filing such financing statements and such other documents prepared by Seller or its designated agent for purposes of perfecting Sellers security interest hereunder. Customer also agrees that this Agreement may be filed by Seller in any state or local jurisdiction as a financing statement (or as other evidence of the Seller's purchase money security interest). (b) In addition to any other remedy available to Seller as provided herein, by common law and by statute, Seller may exercise its right to reclaim all Products and Licensed Materials sold to Customer pursuant to UCC-702 or such other applicable provision as it may exist from state to state, upon discovery of Customers insolvency, provided Seller demands in writing reclamation of such goods before ten (10) days after receipt of such goods by Customer, or if such ten (10) day period expires after the commencement of a bankruptcy case, before twenty (20) days after receipt of such goods by the Customer.

Purchase Money Security Interest. (a) Purchaser grants to Seller reserves and Customer agrees that Seller shall have a purchase money security interest in the Goods, the proceeds received by Purchaser from the further sale of the Goods and any products into which the Goods shall have been manufactured, processed or assembled so as to secure the payment in full of all Products and Licensed Materials heretofore supplied or hereafter supplied amounts owing to Customer Seller by Purchaser on all accounts arising hereunder. Purchaser agrees to separately hold the proceeds of the sale of the Goods until all amounts owing to Seller under this Agreement until any and all payments and charges due Seller under this Agreement including, without limitation, shipping and installation charges, by Purchaser are paid in full. Customer represents and warrants that the terms hereof do not violate or breach any other agreement to which Customer is a party. Seller shall have the right, at any time during the Term and without notice to CustomerPurchaser hereby authorizes Seller, to file in any state or local jurisdiction such financing statements (e.g., UCC-1 financing statements) as Seller deems necessary with respect to the foregoing in all appropriate jurisdictions in order to perfect its Seller’s security interest and to notify in writing any of Purchaser’s creditors of the retention of such purchase money security interest as may be required under applicable laws. In the event of a default by Purchaser of any payment or performance obligation hereunder. Upon request , Seller, in addition to its other remedies under the Uniform Commercial Code (the “UCC”), may require Purchaser to assemble the Goods covered by Seller, Customer hereby agrees to execute all documents necessary to secure Sellers purchase money ’s security interest including without limitation, UCC-1 or such other documents Seller deems reasonably necessary. Notwithstanding the foregoing obligation of Customer to execute, Customer hereby irrevocably appoints Seller as its attorney-in-fact for purposes of executing and filing such financing statements and such other documents prepared by Seller or its designated agent for purposes of perfecting Sellers security interest hereunder. Customer also agrees that this Agreement may be filed by Seller in any state or local jurisdiction as a financing statement (or as other evidence of the Seller's purchase money security interest). (b) In addition to any other remedy make it available to Seller as provided hereinat a place reasonably convenient to both Purchaser and Seller to be designated by Seller. Purchaser, in addition to its other liabilities to Seller, shall be responsible for Seller’s attorney’s fees and legal expenses incurred in connection with Seller’s enforcing its security interest granted hereunder by common law and by statute, Seller may exercise its right to reclaim all Products and Licensed Materials sold to Customer pursuant to UCC-702 or such other applicable provision as it may exist from state to state, upon discovery of Customers insolvency, provided Seller demands in writing reclamation of such goods before ten (10) days after receipt of such goods by Customer, or if such ten (10) day period expires after the commencement of a bankruptcy case, before twenty (20) days after receipt of such goods by the Customerthis security agreement.

Purchase Money Security Interest. (a) a. Seller reserves and Customer agrees that Seller shall have a purchase money security interest in all Products and Licensed Materials heretofore supplied or hereafter supplied to Customer by Seller under this Agreement until any and all payments and charges Deferred Payments due Seller under this Agreement including, without limitation, shipping and installation charges, are paid in full. Seller shall have the right, at any time during the Term anytime and without notice to Customer, customer to file in any state or local jurisdiction such financing statements (e.g., e.g UCC-1 financing statements) , as Seller deems necessary to perfect its purchase money security interest hereunder. Upon request request, by Seller, Customer hereby agrees to execute all documents necessary to secure Sellers Seller's purchase money security interest including without limitation, UCC-1 UCC -1 or such other documents Seller deems reasonably necessarynecessary to evidence its security interest. Notwithstanding the foregoing obligation of Customer to execute, Customer hereby irrevocably appoints Seller as its attorney-in-fact for purposes purpose of executing and filing such financing statements and such other documents prepared by Seller or its designated agent for purposes of perfecting Sellers Seller's security interest hereunder. Customer also agrees that this Agreement may be filed by Seller in any state or local jurisdiction as a financing statement (or as other evidence of the Seller's purchase money security interest). (b) b. Seller shall provide Customer promptly following any such filing with a copy of all such Financing Statements together with a listing of a filing number and location sufficient to enable Customer's lenders to arrange for termination of such Financing Statements upon closing Customer's senior credit facility. c. In addition to any other remedy available to Seller as provided hereinherein for any failure of Customer to pay the purchase price, by common law and by statute, Seller may exercise its right to reclaim all Products and Licensed Materials sold to Customer pursuant to UCC-702 UCC-202 or such other applicable provision as it may exist from state to state, upon discovery of Customers Customer insolvency, provided Seller demands in writing reclamation of such goods before ten (10) days after receipt of such goods by Customer, or if such ten (10) day days period expires after the commencement of a bankruptcy case, before twenty (20) days after receipt of such goods by the Customer.

Purchase Money Security Interest. (a) Seller reserves and Customer agrees that Seller shall have a purchase money security interest in all Products and Licensed Materials heretofore supplied or hereafter supplied to Customer by Seller under this Agreement until any and all payments and charges due Seller under this Agreement including, without limitation, shipping and installation charges, are paid in full. Seller shall have the right, at any time during the Term and without notice to CustomerTerm, to file in any state or local jurisdiction such financing statements (e.g., UCC-1 financing statements) as Seller deems necessary to perfect its purchase money security interest hereunder. Upon such filing of any financing statement, Seller shall provide Customer with notice and a copy of such filing. Upon request by Seller, Customer hereby agrees to execute all documents necessary to secure Sellers Seller's purchase money security interest including without limitation, UCC-1 or such other documents Seller deems reasonably necessarynecessary to perfect such security interest. Notwithstanding the foregoing obligation of Customer to execute, Customer hereby irrevocably appoints Seller as its attorney-in-fact for purposes of executing and filing such financing statements and such other documents prepared by Seller or its designated agent for purposes of perfecting Sellers Seller's security interest hereunder. Customer also agrees that this Agreement may be filed by Seller in any state or local jurisdiction as a financing statement (or as other evidence of the Seller's purchase money security interest). (b) In addition to any other remedy available to Seller as provided herein, by common law and by statute, Seller may exercise its right to reclaim all Products and Licensed Materials sold to Customer pursuant to UCC-702 UCC-2-702 or such other applicable provision as it may exist from state to state, upon discovery of Customers Customer's insolvency, provided Seller demands in writing reclamation of such goods before ten (10) days after receipt of such goods by Customer, or if such ten (10) day period expires after the commencement of a bankruptcy case, before twenty (20) days after receipt of such goods by the Customer.

Purchase Money Security Interest. (a) Seller reserves reserves, and Customer agrees that Seller shall have have, a purchase money security interest in all Products and Licensed Materials heretofore supplied or hereafter supplied to Customer by Seller under this Agreement until any and all payments and charges due Seller under this Agreement Agreement, including, without limitation, shipping and installation charges, are paid in full. Seller shall have the right, at any time during the Term and without notice to Customer, to file in any state or local jurisdiction such financing statements (e.g., UCC-1 financing statements) as Seller deems necessary to perfect its purchase money security interest hereunder. Upon request by Seller, Customer hereby agrees to execute all documents necessary to secure Sellers Seller's purchase money security interest including without limitation, UCC-1 or such other documents Seller deems reasonably necessary. Notwithstanding the foregoing obligation of Customer to executeexecute such documents, Customer hereby irrevocably appoints Seller as its attorney-in-fact for purposes of executing and filing such financing statements and such other documents prepared by Seller or its designated agent for purposes of perfecting Sellers Seller's security interest hereunder. Customer also agrees that this Agreement may be filed by Seller in any state or local jurisdiction as a financing statement (or as other evidence of the Seller's purchase money security interest). (b) In addition to any other remedy available to Seller as provided herein, by common law and by statute, Seller may exercise its right to reclaim all Products and Licensed Materials sold to Customer pursuant to UCC-702 UCC-2-702 or such other applicable provision as it may exist from state to state, upon discovery of Customers Customer's insolvency, provided Seller demands in writing reclamation of such goods before ten (10) days after receipt of such goods by Customer, or if such ten (10) day period expires after the commencement of a bankruptcy case, before twenty (20) days after receipt of such goods by the Customer.

Purchase Money Security Interest. (a) Seller Subject to Lucent's prior written notice hereunder to Vendor of Lucent's intent to file purchase money security documents as set forth in the following and Vendor's failure to resolve any default(s) leading to such action within ten (10) days of Lucent's notice, Lucent reserves and Customer Vendor agrees that Seller Lucent shall have a purchase money security interest in all Products and Licensed Materials heretofore supplied sold or hereafter supplied sold to Customer Vendor by Seller Lucent under this Agreement Agreement, until any and all payments and charges due Seller Lucent under this Agreement including, without limitation, shipping and installation charges, are paid in full. Seller Lucent shall have the right, at any time during the Term and without notice to CustomerVendor, to file in any state or local jurisdiction such financing statements (e.g., UCC-1 UCC1 financing statements) as Seller Lucent deems necessary to perfect its purchase money security interest hereunder. Upon request by Seller, Customer hereby Vendor agrees to execute and deliver to Lucent all such financing statements and other documents as Lucent deems necessary to secure Sellers perfect its purchase money security interest including without limitation, UCC-1 or such other documents Seller deems reasonably necessaryhereunder. Notwithstanding the foregoing obligation of Customer to executeobligation, Customer Vendor hereby irrevocably appoints Seller Lucent as its attorney-in-fact for purposes of executing and filing such financing statements and such other documents prepared by Seller Lucent or its designated agent for purposes of perfecting Sellers Lucent's security interest hereunder. Customer Vendor also agrees that this Agreement may be filed by Seller Lucent in any state or local jurisdiction as a financing statement (or as other evidence of the SellerLucent's purchase money security interest). (b) In addition to any other remedy available to Seller Lucent as provided herein, by common law and by statute, Seller Lucent may exercise its right to reclaim all Products and Licensed Materials sold to Customer Vendor pursuant to UCC-702 U.C.C. Section 2-702 or such other applicable provision as it if may exist from state to state, upon discovery of Customers Vendor's insolvency, provided Seller Lucent demands in writing reclamation of such goods before ten (10) days after receipt of such goods by CustomerVendor, or if such ten (10) 10 day period expires after the Lucent and Six R Proprietary commencement of a bankruptcy case, before twenty (20) days after receipt of such goods by the CustomerVendor.