Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 8 contracts
Samples: Security Agreement (Cherokee Inc), Security Agreement (Cherokee Inc), Security Agreement (Gvi Security Solutions Inc)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 5 contracts
Samples: Security Agreement (Misonix Inc), Security Agreement (Interpharm Holdings Inc), Security Agreement (Leather Factory Inc)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing the Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 3 contracts
Samples: Security Agreement (Standard Gold), Security Agreement (Wits Basin Precious Minerals Inc), Security Agreement (Wits Basin Precious Minerals Inc)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyXxxxx Fargo) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 3 contracts
Samples: Security Agreement (Physicians Formula Holdings, Inc.), Security Agreement (Physicians Formula Holdings, Inc.), Security Agreement (Physicians Formula Holdings, Inc.)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s Corporate Guarantor's records pertaining thereto as being obligated to pay such obligation. The Debtor Corporate Guarantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 3 contracts
Samples: Security Agreement (Metretek Technologies Inc), Security Agreement (Metretek Technologies Inc), Security Agreement (Metretek Technologies Inc)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing the Collateral is (or will be when arising, issued or assigned to the Secured PartyParties) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorGrantor’s records pertaining thereto as being obligated to pay such obligation. The Debtor Grantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 2 contracts
Samples: Security Agreement (Vendingdata Corp), Security Agreement (Vendingdata Corp)
Rights to Payment. Each right to payment and each instrumentInstrument, documentDocument, chattel paper Chattel Paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor Guarantor or other obligor named therein or in the Debtor’s Guarantor's records pertaining thereto as being obligated to pay such obligation. The Debtor Guarantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will nor not subordinate any such right to payment to claims of other creditors of such account debtor Guarantor or other obligor.
Appears in 2 contracts
Samples: Guaranty Security Agreement (Vado Corp.), Guaranty Security Agreement (Vado Corp.)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorBorrower’s records pertaining thereto as being obligated to pay such obligation. The Debtor Borrower will neither not, without the Secured Party’ consent, agree to any material modification or amendment nor or agree to any forbearance, release or cancellation of any such obligation, and will not not, without the Secured Party’s consent, subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 2 contracts
Samples: Bridge Loan and Debt Restructuring Agreement (Golden Phoenix Minerals Inc), Security Agreement (Golden Phoenix Minerals Inc /Mn/)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyHolder Representative) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorGrantor’s records pertaining thereto as being obligated to pay such obligation. The Debtor Grantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 2 contracts
Samples: Senior Subordinated Note Purchase and Security Agreement (Physicians Formula Holdings, Inc.), Guarantor Security Agreement (Physicians Formula Holdings, Inc.)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyCollateral Agent) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorBorrower’s records pertaining thereto as being obligated to pay such obligation. The Debtor Borrower will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 1 contract
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing the Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 1 contract
Samples: Security Agreement (Location Based Technologies, Inc.)
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued arising or assigned to the Secured Partyissued) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither not agree to any material modification or amendment nor of, or agree to any forbearance, release or cancellation of of, any such obligationobligation without the Secured Party's prior written consent, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 1 contract
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyLender) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorGuarantor’s records pertaining thereto as being obligated to pay such obligation. The Debtor Guarantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 1 contract
Rights to Payment. Each right to payment and each instrumentInstrument, documentDocument, chattel paper Chattel Paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will nor not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 1 contract
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued arising or assigned to the Secured Partyissued) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither not, other than in the ordinary course of business, agree to any material modification or amendment nor agree amendment, or to any forbearance, release or cancellation cancellation, of any such obligationobligation without the Secured Party's prior written consent, and the Debtor will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 1 contract
Samples: Term Credit Agreement (Sa Telecommunications Inc /De/)
Rights to Payment. Each right to payment and each instrumentInstrument, documentDocument, chattel paper Chattel Paper and other agreement constituting or evidencing Collateral of the Company is (or will be when arising, issued or assigned to the Secured PartyParties) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s Company's records pertaining thereto as being obligated to pay such obligation. The Debtor Company will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 1 contract
Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyLender) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorBorrower’s records pertaining thereto as being obligated to pay such obligation. The Debtor Other than in the ordinary course of business, Borrower will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.
Appears in 1 contract