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

Rights in Property Held by the Lender. As security for the prompt satisfaction of all Obligations, the Borrower hereby assigns, transfers, and sets over to the Lender all of its right, title, and interest in and to, and grants the Lender a lien on and a security interest in, all amounts that may be owing, from time to time, by the Lender to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower, or any deposit or other account with the Lender, which lien and security interest shall be independent of, and in addition to, any right of set-off that the Lender has under Section 8.07 or otherwise.

Appears in 2 contracts

Samples: Loan and Security Agreement (Vivid Technologies Inc), Loan and Security Agreement (Vivid Technologies Inc)

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Rights in Property Held by the Lender. As security for the prompt satisfaction of all Obligations, the Borrower hereby assigns, transfers, and sets over to the Lender all of its right, title, and interest in and to, and grants the Lender a lien on and a security interest in, all amounts that may be owing, from time to time, by the Lender to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower, or any deposit or other account with the Lender, which lien and security interest shall be independent of, and in addition to, any right of set-off that the Lender has under Section 8.07 8.06 or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (World Energy Solutions, Inc.)

Rights in Property Held by the Lender. As security for the prompt satisfaction of all Obligationsobligations, the Borrower and each Guarantor hereby assignsassign, transferstransfer, and sets set over to the Lender all of its their respective right, title, and interest in and to, and grants grant the Lender a lien on and a security interest in, all amounts that may be owing, from time to time, by the Lender to the Borrower or any Guarantor in any capacity, including, but without limitation, any balance or share belonging to the BorrowerBorrower or any Guarantor, or any deposit or other account with the Lender, which lien and security interest shall be independent of, and in addition to, any right of set-off that the Lender has under Section 8.07 or otherwise.

Appears in 1 contract

Samples: Loan and Security Agreement (Luxtec Corp /Ma/)

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Rights in Property Held by the Lender. As security for the prompt satisfaction of all Obligations, the Borrower hereby assigns, transfers, and sets over to the Lender all of its right, title, and interest in and to, and grants the Lender a lien on and a security interest in, all amounts that may be owing, from time to time, by the Lender to the Borrower in any capacity, including, but without limitation, any balance or share belonging to the Borrower, or any deposit or other account with the Lender, which lien and security interest shall be independent of, and in addition to, any right of set-off that the Lender has under Section 8.07 8.06 or otherwise. The Lender's security interest in the Blocked Account shall be subject to the provisions of the Blocked Account Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Ipg Photonics Corp)

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