Purpose of the Security Instrument Sample Clauses

Purpose of the Security Instrument. The purpose of the Security Instrument is to ensure Licensee’s performance of all of its obligations under this Agreement and the Standards and for the payment by Licensee of any damages, claims, liens, taxes, liquidated damages, penalties, or fees due to the BTU that arise by reason of the construction, installation, operation, maintenance, transfer, relocation, or removal of Licensee’s Attachments, Communications Facilities, or Network Nodes on or about BTU’s Eligible Poles, including without limitation, claims for damages to BTU Facilities caused by Licensee, its contractors, or agents, and for any costs BTU incurs relocate Licensee’s Attachments, Communications Facilities, Network Nodes, or related facilities. BTU shall have the right to draw funds from the Security Instrument to recover damages to BTU Facilities caused by Licensee, its contractors, or agents or for any costs BTU incurs to relocate Licensee’s Attachments, Communications Facilities, Network Nodes, or related facilities. Provision shall be made to permit BTU to draw against the Security Instrument. Licensee shall not use the Security Instrument for other purposes and shall not assign, pledge, or otherwise use the Security Instrument as security for any other purpose.
Sample 1Sample 2
AutoNDA by SimpleDocs
Purpose of the Security Instrument. The purpose of the Security Instrument is to ensure Licensee’s performance of all of its obligations under this Wireless Installation Agreement and for the payment by Licensee of any damages, claims, liens, taxes, liquidated damages, penalties, or fees due to the City which arise by reason of the construction, installation, operation, maintenance, transfer, relocation, or removal of Licensee’s Wireless Installations on or about the City’s Service Poles, including without limitation, claims for damages to the City Facilities caused by Licensee, its contractors, or agents, and for any costs the City incurs relocate Licensee’s Wireless Installations or related facilities. The City shall have the right to draw funds from the Security Instrument to recover damages to City Facilities caused by Licensee, its contractors, or agents or for any costs the City incurs relocate Licensee’s Wireless Installations or related facilities. Provision shall be made to permit the City to draw against the Security Instrument. Licensee shall not use the Security Instrument for other purposes and shall not assign, pledge, or otherwise use the Security Instrument as security for any other purpose.
Sample 1
Purpose of the Security Instrument. The purpose of the Security Instrument is to ensure Licensee’s performance of all of its obligations under this Agreement and the Standards and for the payment by Licensee of any damages, claims, liens, taxes, liquidated damages, penalties, or fees due to the NBU that arise by reason of the construction, installation, operation, maintenance, transfer, relocation, or removal of Licensee’s Attachments, Communications Facilities, or Network Nodes on or about NBU’s Eligible Poles, including without limitation, claims for damages to NBU Facilities caused by Licensee, its contractors, or agents, and for any costs NBU incurs relocate Licensee’s Attachments, Communications Facilities, Network Nodes, or related facilities. NBU shall have the right to draw funds from the Security Instrument pursuant to its terms to recover damages to NBU Facilities caused by Licensee, its contractors, or agents or for any costs NBU incurs to relocate Licensee’s Attachments, Communications Facilities, Network Nodes, or related facilities. Licensee shall not use the Security Instrument for other purposes and shall not assign, pledge, or otherwise use the Security Instrument as security for any other purpose.
Sample 1

Related to Purpose of the Security Instrument

  • Security Instruments (i) The Administrative Agent shall fail to have an Acceptable Security Interest in any portion of the Collateral or (ii) any Security Instrument shall at any time and for any reason cease to create the Lien on the Property purported to be subject to such agreement in accordance with the terms of such agreement, or cease to be in full force and effect, or shall be contested by the Borrower, any Guarantor or any of their respective Subsidiaries;

  • Security Agreement The words "Security Agreement" mean and include without limitation any agreements, promises, covenants, arrangements, understandings or other agreements, whether created by law, contract, or otherwise, evidencing, governing, representing, or creating a Security Interest.

  • Loan Agreement This Agreement duly executed by Borrower and Lender.

  • Affirmation of the TBT Agreement 1. Each Party affirms its rights and obligations with respect to each other Party under the TBT Agreement.

  • ASSIGNMENT OF LEASES AND RENTS There exists as part of the related Mortgage File an Assignment of Leases (either as a separate instrument or incorporated into the related Mortgage). Subject to the Permitted Encumbrances and the Title Exceptions, each related Assignment of Leases creates a valid first-priority collateral assignment of, or a valid first-priority lien or security interest in, rents and certain rights under the related lease or leases, subject only to a license granted to the related Mortgagor to exercise certain rights and to perform certain obligations of the lessor under such lease or leases, including the right to operate the related leased property, except as the enforcement thereof may be limited by the Standard Qualifications. The related Mortgage or related Assignment of Leases, subject to applicable law, provides that, upon an event of default under the Mortgage Loan, a receiver is permitted to be appointed for the collection of rents or for the related Mortgagee to enter into possession to collect the rents or for rents to be paid directly to the Mortgagee.

  • Consent to Collateral Assignment Subject to the provisions of this Section 9.05, Seller may (but is not obligated to) assign this Agreement as collateral to a Lender for any financing or refinancing of the Generating Facility, including a Sale-Leaseback Transaction or Equity Investment and, in connection therewith, Buyer shall in good faith work with Seller and Lender to agree upon a consent to a collateral assignment of this Agreement or to a Sale-Leaseback Transaction or Equity Investment, as applicable (“Collateral Assignment Agreement”). The Collateral Assignment Agreement shall be in form and substance reasonably agreed to by Xxxxx, Seller and Lender, and shall include, among others, the following provisions (together with such other commercially reasonable provisions required by any Lender that are reasonably acceptable to Buyer):

  • Assignment of Leases The Assignment of Leases creates a valid assignment of, or a valid security interest in, certain rights under the Leases, subject only to a license granted to Borrower to exercise certain rights and to perform certain obligations of the lessor under the Leases, including the right to operate the Property. No Person other than Lender has any interest in or assignment of the Leases or any portion of the Rents due and payable or to become due and payable thereunder.

  • SUBORDINATION OF AGREEMENT 18.1 The parties hereto and the employees of the City are governed by the provisions of applicable Federal Law, State Law, and the City Charter. When any provisions thereof are in conflict with the provisions of this Agreement, the provisions of said Federal Law, State Law, or City Charter are paramount and shall prevail.

  • Grant of Security Interest/Remedies To secure its obligations under this Agreement and to the extent Seller delivers the Collateral Requirement, as applicable, hereunder, Seller hereby grants to Buyer, as the secured party, a first priority security interest in, and lien on (and right of setoff against), and assignment of, all such Collateral Requirement posted with Buyer in the form of cash or Letter of Credit and any and all proceeds resulting therefrom or the liquidation thereof, whether now or hereafter held by, on behalf of, or for the benefit of, Buyer. Within thirty (30) days of the delivery of the Collateral Requirement, Seller agrees to take such action as Buyer reasonably requires in order to perfect a first-priority security interest in, and lien on (and right of setoff against), such Collateral Requirement and any and all proceeds resulting therefrom or from the liquidation thereof. Upon or any time after the occurrence of an Event of Default, an Early Termination Date or an occasion provided for in this Agreement where Buyer is authorized to retain all or a portion of the Collateral Requirement, Buyer may do any one or more of the following: (a) exercise any of the rights and remedies of a secured party with respect to the Collateral Requirement, as applicable, including any such rights and remedies under Law then in effect; (b) exercise its rights of setoff against any and all property of Seller in the possession of the Buyer or Buyer’s agent; (c) draw on any outstanding Letter of Credit issued for its benefit or retain any cash deposit; and (d) liquidate the Collateral Requirement then held by or for the benefit of Buyer free from any claim or right of any nature whatsoever of Seller, including any equity or right of purchase or redemption by Seller. Buyer shall apply the proceeds of the collateral realized upon the exercise of any such rights or remedies to reduce Seller’s obligations under the Agreement (Seller remaining liable for any amounts owing to Buyer after such application), subject to the Buyer’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full.

  • SUBORDINATION OF LEASE This Agreement and Tenant's interest hereunder are and shall be subordinate, junior and inferior to any and all mortgages, liens or encumbrances now or hereafter placed on the Premises by Landlord, all advances made under any such mortgages, liens or encumbrances (including, but not limited to, future advances), the interest payable on such mortgages, liens or encumbrances and any and all renewals, extensions or modifications of such mortgages, liens or encumbrances.

Time is Money Join Law Insider Premium to draft better contracts faster.