Purpose of collateral Sample Clauses

Purpose of collateral. The claims shall serve as collateral for all existing and future, including conditional or time-limited, claims of the Sparkasse against Prometal RCT GmbH, Am Mittleren Xxxx 41, 86167 Augsburg • hereinafter referred to as Borrower – from its bank-related business relations (especially from current account, credits, and loans of all types including any legal claims and bills of exchange). They shall also cover claims against the Borrower from bills of exchange, even if they are submitted by third parties, from transfers or legal transfers of claim and from sureties, which have been taken over by the Borrower in relation to the Sparkasse, effective on their due dates, to the extent that the Sparkasse acquires these claims within the scope of its bank-related business relations with the Borrower.
Sample 1
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Purpose of collateral. The land charge, the assumption of the personal liability as well as the assignment of the claims for restitution shall serve the purpose of þ Securing all claims to which the Bank/IKB International S.A., Luxemburg is entitled to on the basis of the loan agreement specified below, and this also in case that the agreed term of the loan should be extended. Specification of the loan agreement Loan 1 *Kredit 1* in the amount of EUR 10,000,000.00 granted to IXYS Semiconductor GmbH in accordance with the written loan commitment dated 02 June 2005 o Securing all existing, future and conditional claims on the side of the Bank including all its home and overseas branches as well as on the side of IKB International S.A., Luxemburg from the bank-to-customer business relationship against the provider of collateral. If the latter has assumed the liability for the payables of another customer of the Bank (for instance as a guarantor), of the land charge shall serve as collateral for the indebtedness resulting from this assumption of liability tea from the time of the due date of the debt.
Sample 1
Purpose of collateral. The Collateral shall be held to secure the Corporation, the Buyer and the Senior Managers in the manner herein stated in respect of (i) any required payment by the Seller for any Indemnification Amount (as hereinafter defined) to which the Corporation, the Buyer or any of the Senior Managers are entitled under Section 9 of the Agreement and (ii) the rights of the Senior Managers to purchase the Escrow Shares pursuant to Section 11 hereof.
Sample 1

Related to Purpose of collateral

  • Sale of Collateral Secured Party may sell any or all of the Collateral at public or private sale, upon such terms and conditions as Secured Party may deem proper, and Secured Party may purchase any or all of the Collateral at any such sale. Grantor acknowledges that Secured Party may be unable to effect a public sale of all or any portion of the Collateral because of certain legal and/or practical restrictions and provisions which may be applicable to the Collateral and, therefore, may be compelled to resort to one or more private sales to a restricted group of offerees and purchasers. Grantor consents to any such private sale so made even though at places and upon terms less favorable than if the Collateral were sold at public sale. Secured Party shall have no obligation to clean-up or otherwise prepare the Collateral for sale. Secured Party may apply the net proceeds, after deducting all costs, expenses, attorneys' and paralegals' fees incurred or paid at any time in the collection, protection and sale of the Collateral and the Obligations, to the payment of the Obligations, returning the excess proceeds, if any, to Grantor. Grantor shall remain liable for any amount remaining unpaid after such application, with interest at the Default Rate. Any notification of intended disposition of the Collateral required by law shall be conclusively deemed reasonably and properly given if given by Secured Party at least ten (10) calendar days before the date of such disposition. Grantor hereby confirms, approves and ratifies all acts and deeds of Secured Party relating to the foregoing, and each part thereof, and expressly waives any and all claims of any nature, kind or description which it has or may hereafter have against Secured Party or its representatives, by reason of taking, selling or collecting any portion of the Collateral other than in the event of any intentional misconduct or gross negligence. Grantor consents to releases of the Collateral at any time (including prior to default) and to sales of the Collateral in groups, parcels or portions, or as an entirety, as Secured Party shall deem appropriate. Grantor expressly absolves Secured Party from any loss or decline in market value of any Collateral by reason of delay in the enforcement or assertion or non-enforcement of any rights or remedies under this Security Agreement.

  • Release of Collateral Subject to Section 11.01 and the terms of the Basic Documents, the Indenture Trustee shall release property from the lien of this Indenture only upon receipt by it of an Issuer Request accompanied by an Officer’s Certificate, an Opinion of Counsel and Independent Certificates in accordance with TIA Sections 314(c) and 314(d)(1) or an Opinion of Counsel in lieu of such Independent Certificates to the effect that the TIA does not require any such Independent Certificates.

  • Use of Collateral Each of the parties granting a security interest hereunder may continue to use and deal with its interest in the Collateral in any lawful manner and may sell items of Collateral in the ordinary course of its business, subject only to the requirements of the Transfer Documents, the Servicing Agreement or any other Basic Document, as appropriate.

  • Valuation of Collateral Securities Intermediary shall provide view only access to its systems to Secured Party for the purpose of communicating data as to the Reserve Account as of that date.

  • Release of Collateral, etc Any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including without limitation negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Liabilities;

  • Location of Collateral All tangible items of Collateral, other than Inventory in transit, shall at all times be kept by Borrowers at the business locations set forth in Schedule 8.6.1, except that Borrowers may (a) make sales or other dispositions of Collateral in accordance with Section 10.2.6; and (b) move Collateral to another location in the United States, upon 30 Business Days prior written notice to Agent.

  • Application of Collateral The proceeds of any sale, or other realization (other than that received from a sale or other realization permitted by the Credit Agreement) upon all or any part of the Collateral pledged by any Grantor shall be applied by the Administrative Agent as set forth in Section 7.6 of the Credit Agreement.

  • Purchase of Collateral Credit bid and purchase all or any portion of the Collateral at any public sale. Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrower.

  • Return of Collateral The Collateral shall be returned to Borrower at the termination of the Loan upon the return of the Loaned Securities by Borrower to State Street in accordance with the applicable Securities Loan Agreement.

  • DESCRIPTION OF COLLATERAL Repayment of the Obligations is secured by the Collateral as described in the Loan Agreement (together with any other collateral security granted to Bank, the “Security Documents”). Hereinafter, the Security Documents, together with all other documents evidencing or securing the Obligations shall be referred to as the “Existing Loan Documents”.

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