Scope of Security Interest. (a) The Security Interest with respect to the trade-marks constitutes a security interest in, and a charge, hypothecation and pledge of, such Collateral in favor of the Agent, but does not constitute an assignment or mortgage of such Collateral to the Agent or any Vendors. Until the Security Interest becomes enforceable, the grant of the Security Interest in the Intellectual Property will not affect in any way the Corporation’s rights to commercially exploit it or defend or enforce the Corporation’s rights in it or with respect to it.
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with any agreement, license, permit or quota of the Obligor (each, a “Restricted Asset”) is prohibited by the terms thereof, the Security Interest created hereunder will constitute a trust created in favour of the Collateral Agent and the Secured Creditors pursuant to which the Obligor shall hold as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent on the following basis:
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with, or the grant of a security interest in any agreement, licence, permit or quota of the Obligor would result in the termination of such agreement, licence, permit or quota (each, a “Restricted Asset”), the Security Interest with respect to each Restricted Asset will constitute a trust created in favour of the Security Agent, for the benefit of the Finance Parties, pursuant to which the Obligor holds as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Security Agent, for the benefit of the Finance Parties, on the following basis:
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with, or the grant of a security interest in any agreement, licence, lease, permit or quota of any Obligor would constitute a default under or a breach of or would result in the termination of such agreement, licence, lease, permit or quota (each, a “Restricted Asset”), the Security Interest with respect to each Restricted Asset will constitute a trust created in favour of the Collateral Agent, for the benefit of the Secured Parties, pursuant to which the applicable Obligor holds as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent, for the benefit of the Secured Parties, on the following basis:
Scope of Security Interest. (1) To the extent that the creation of the Security Interest would constitute a breach or permit the acceleration of any agreement, right, license or permit to which the Debtor is a party, the Security Interest shall not attach thereto but the Debtor shall hold its interest therein in trust for the Corporation, and shall assign such agreement, right, license or permit to the Corporation or as it may direct forthwith upon obtaining the consent of the other party thereto.
Scope of Security Interest. (a) The Collateral does not include and the Security Interest will not extend to consumer goods.
Scope of Security Interest. (1) Notwithstanding anything to the contrary contained in Section 1.02, the Security Interest created hereunder shall not extend to, and the term “Collateral” shall not include, the following assets (collectively, the Excluded Assets and each, an Excluded Asset):
Scope of Security Interest. (1) Nothing in Section 2.1 will be construed as an attempt by Xxxx to assign (which term will include a sub-lease, mortgage, pledge or charge) any lease, agreement, account, claim, demand or chose in action which, as a matter of Law or by its terms, is non-assignable without the consent of some other person unless such consent has been obtained. Nano will forthwith obtain such consent and, until such consent has been obtained, the Security Interest will not attach to such lease, agreement, account, claim, demand or chose in action but Xxxx will hold his interest therein in trust to assign or dispose thereof as the Subscriber may direct. Forthwith upon such consent being obtained, the Security Interest will apply to such lease, agreement, account, claim, demand or chose in action without the necessity of any further action or assurance on the part of any person.
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with, or the grant of a security interest in any agreement, licence, permit or quota of any Obligor would result in the termination of such agreement, licence, permit or quota and such termination is otherwise enforceable under applicable law (each, a “Restricted Asset”), the Security Interest with respect to each Restricted Asset will constitute a trust created in favour of the Collateral Agent, for the benefit of the Secured Creditors, pursuant to which such Obligor holds as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Collateral Agent, for the benefit of the Secured Creditors, on the following basis:
Scope of Security Interest. (1) To the extent that an assignment of amounts payable and other proceeds arising under or in connection with, or the grant of a security interest in any agreement, licence, permit or quota of the Grantor, or the grant of any licence as contemplated in Section 2.7, would result in the termination of such agreement, licence, permit or quota (each, a “Restricted Asset”), the Grantor shall hold as trustee all proceeds arising under or in connection with the Restricted Asset in trust for the Canadian Agent, for the benefit of the Secured Parties, and the Security Interest will constitute a trust created in favour of the Canadian Agent, for the benefit of the Secured Parties, on the following basis:
