Common use of Rights in Property Held by the Bank Clause in Contracts

Rights in Property Held by the Bank. As security for the prompt satisfaction of all Obligations and all Guaranties of the Obligations, the Borrower hereby assigns, transfers and sets over to the Bank all of its right, title and interest in and to, and grants the Bank a lien on and a security interest in, all amounts that may be owing from time to time by the Bank to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower of any deposit or other account with the Bank, which lien and security interest shall be independent of any right of set-off which the Bank may have.

Appears in 5 contracts

Samples: Loan and Security Agreement (Symbion Inc/Tn), Loan and Security Agreement (Symbion Inc/Tn), Loan and Security Agreement (Symbion Inc/Tn)

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Rights in Property Held by the Bank. As security for the prompt satisfaction of all Obligations and all Guaranties of the Obligations, the Borrower hereby assigns, transfers and sets over to the Bank all of its right, title and interest in and to, and grants to the Bank a lien on and a security interest in, all any amounts that which may be owing from time to time by the Bank to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower of any deposit or other account with the Bank, which lien and security interest shall be independent of any right of set-off setoff which the Bank may have.

Appears in 3 contracts

Samples: Credit Agreement (Access Integrated Technologies Inc), Revolving Credit Agreement (August Technology Corp), Credit and Term Loan Agreement (Aura Systems Inc)

Rights in Property Held by the Bank. As security for the prompt satisfaction of all Obligations and all Guaranties of the Obligations, the Borrower hereby assigns, transfers and sets over to the Bank all of its the Borrower's right, title and interest in and to, and grants the Bank a lien on and a security interest in, all amounts that may be owing from time to time by the Bank to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower Borrower, of any deposit or other account with the Bank, which lien and security interest shall be independent of any right of set-off which the Bank may have.

Appears in 2 contracts

Samples: Revolving Loan Agreement (KMG B Inc), Term Loan Agreement (KMG B Inc)

Rights in Property Held by the Bank. As security for the prompt satisfaction of all Obligations and all Guaranties of the Obligations, the Borrower hereby assigns, transfers and sets over to the Bank all of its right, title and interest in and to, and grants the Bank a lien on and a security interest in, all amounts that may be owing from time to time by the Bank to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower of any deposit or other account with the Bank, which lien and security interest shall be independent of any right of set-off which the Bank may have. In particular, Borrower hereby acknowledges that the Bank shall have full rights of setoff with respect to the certificate of deposit referenced in Paragraph 6.16.

Appears in 1 contract

Samples: Loan and Security Agreement (Symbion Inc/Tn)

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Rights in Property Held by the Bank. As security for the prompt satisfaction of all Obligations and all Guaranties of the Obligations, the Borrower hereby collaterally assigns, transfers and sets over to the Bank all of its right, title and interest in and to, and grants to the Bank a lien on and a security interest in, all any amounts that which may be owing from time to time by the Bank to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower of any deposit or other account with the Bank, which lien and security interest shall be independent of any right of set-off setoff which the Bank may have.

Appears in 1 contract

Samples: Credit Agreement (MGC DIAGNOSTICS Corp)

Rights in Property Held by the Bank. As security for the prompt satisfaction of all Obligations the Borrower and all Guaranties each of the ObligationsGuarantors hereby assign, the Borrower hereby assigns, transfers transfer and sets set over to the Bank all of its right, title and interest in and to, and grants grant the Bank a lien on and a security interest in, all amounts that may be owing from time to time by the Bank to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower of any deposit or other account with the Bank, which lien and security interest shall be independent of any right of set-off which the Bank may have.

Appears in 1 contract

Samples: Loan and Security Agreement (Tba Entertainment Corp)

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