Common use of Secure Payment Clause in Contracts

Secure Payment. To secure payment of indebtedness in the principal sum of up ------ -------- to two million five hundred thousand dollars ($2,500,000) as evidenced by one or more note or notes (the "Notes"), which Debtor has executed and delivered and will execute and deliver to Secured Party and also to secure any other indebtedness or liability of Debtor to Secured Party, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, including all future advances or loans which may be made at the option of Secured Party (all the foregoing hereinafter called the "Indebtedness"), Debtor hereby grants and conveys to Secured Party a first superior continuing lien and security interest in the property described below and/or on the Schedule(s) attached hereto (the "Schedules"), all products and proceeds (including insurance proceeds) thereof, if any, and all increases, substitutions, replacements, attachments, additions, and accessions thereto, all or any of the foregoing hereinafter called the "Collateral" . (DESCRIPTION OF COLLATERAL ON ATTACHED SCHEDULES. THE SCHEDULES MAY BE SUPPLEMENTED FROM TIME TO TIME TO EVIDENCE THE COLLATERAL, SUBJECT TO THIS AGREEMENT.) Secured Party will make up to two million five hundred thousand dollars ($2,500,000) in financing available. There will be no more than ten (10) fundings, with all fundings to occur by May 31, 1995. Ten days prior to each funding, Debtor must submit to Secured Party the Loan Request Certificate that sets forth there is no default hereunder, and that each of the covenants and conditions contained herein have been satisfied. Second Party has no obligation to make additional advances if there is an Event of Default hereunder.

Secure Payment. To secure payment of indebtedness in the principal sum of up ------ -------- to two million five hundred thousand dollars One Million Five Hundred Thousand and 00/100 Dollars ($2,500,0001,500,000.00) as evidenced by one or more a note or notes executed and delivered by Debtor to Secured Party (the "Notes")) and any obligations arising under this Agreement, which Debtor has executed and delivered and will execute and deliver to Secured Party and also to secure any other indebtedness or liability of Debtor to Secured Party, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arisingarising and no matter how acquired by Secured Party, including all future advances or loans which may be made at the option of Secured Party (all the foregoing hereinafter called the "Indebtedness"), Debtor hereby grants and conveys to Secured Party a first superior priority continuing lien and security interest in the personal property described below and/or on the Schedule(sany schedule(s) now or hereafter attached to or made a part hereof by reference hereto (the "Schedules"), all products and proceeds (including insurance proceeds) thereof, if any, and all increases, substitutions, replacements, attachments, additions, and accessions thereto, thereto (all or any of the foregoing hereinafter called the "Collateral" .") The Schedules may be supplemented from time to time to evidence the Collateral subject to this Agreement. (DESCRIPTION OF COLLATERAL ON ATTACHED SCHEDULES. THE SCHEDULES MAY BE SUPPLEMENTED FROM TIME TO TIME TO EVIDENCE THE COLLATERALDebtor shall request in writing each advance of principal under the Notes, SUBJECT TO THIS AGREEMENT.) Secured Party will make up to two million five hundred thousand dollars ($2,500,000) in financing available. There will which request shall be no more than ten (10) fundings, with all fundings to occur by May 31, 1995. Ten days prior to each funding, Debtor must submit satisfactory to Secured Party in form and substance. Each advance shall be on and subject to the Loan Request Certificate that sets forth there is no default hereunder, and that each of the covenants terms and conditions contained herein have been satisfiedset forth in this Agreement and shall otherwise be at Secured Party's sole discretion. Second Party has no obligation to make additional advances if there is an Event of Default hereunderAmounts advanced and repaid may not be reborrowed.

Secure Payment. To secure payment of indebtedness in the principal sum of up ------ -------- to two million five hundred thousand dollars One Million and 00/ 100 Dollars ($2,500,000) 1,000,000.00), as evidenced by one or more a note or notes executed and delivered by Debtor to Secured Party (the "Notes"), which Debtor has executed ) and delivered and will execute and deliver to Secured Party and also to secure any other indebtedness or liability of Debtor to Secured Party, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arisingobligations arising under this Agreement, including all future advances or loans which may be made at the option of Secured Party (all the foregoing hereinafter called the "Indebtedness"), Debtor hereby grants and conveys to Secured Party a first superior priority continuing lien and security interest in the personal property described below and/or on the Schedule(sany schedule(s) now or hereafter attached to or made a part hereof by reference hereto (the "Schedules"), all products and proceeds (including insurance proceeds) thereof, if any, and all increases, substitutions, replacements, attachments, additions, and accessions thereto, thereto (all or any of the foregoing hereinafter called the "Collateral" .") The Schedules may be supplemented from time to time to evidence the Collateral subject to this Agreement. (DESCRIPTION OF COLLATERAL ON ATTACHED SCHEDULES. THE SCHEDULES MAY BE SUPPLEMENTED FROM TIME TO TIME TO EVIDENCE THE COLLATERALDebtor shall request in writing each advance of principal under the Notes, SUBJECT TO THIS AGREEMENT.) Secured Party will make up to two million five hundred thousand dollars ($2,500,000) in financing available. There will which request shall be no more than ten (10) fundings, with all fundings to occur by May 31, 1995. Ten days prior to each funding, Debtor must submit satisfactory to Secured Party in form and substance. Each advance shall be on and subject to the Loan Request Certificate that sets terms and conditions set forth there is no default hereunderin this Agreement and shall otherwise be at Secured Party's sole discretion. Each Note shall be in an amount not less than $50,000.00. No principal advance under any Notes shall be made after January 4, 1998, and each advance shall reduce, dollar for dollar, the amount that each of may be advanced under the covenants Notes in the aggregate. Amounts advanced and conditions contained herein have been satisfied. Second Party has no obligation to make additional advances if there is an Event of Default hereunderrepaid may not be reborrowed.

Secure Payment. To secure payment of indebtedness in the principal sum of up ------ -------- -------------- to two million five hundred thousand dollars Four Million and 00/ 100 Dollars ($2,500,000) 4,000,000.00), as evidenced by one or more a note or notes executed and delivered by Debtor to Secured Party (the "Notes")) and any ----- obligations arising under this Agreement, which Debtor has executed and delivered and will execute and deliver to Secured Party and also to secure any other indebtedness or liability of Debtor to Secured Party, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arisingarising and no matter how acquired by Secured Party, including all future advances or loans which may be made at the option of Secured Party (all the foregoing hereinafter called the "Indebtedness"), Debtor hereby grants and conveys to ------------ Secured Party a first superior priority continuing lien and security interest in the personal property described below and/or on the Schedule(sany schedule(s) now or hereafter attached to or made a part hereof by reference hereto (the "Schedules"), all products and --------- proceeds (including insurance proceeds) thereof, if any, and all increases, substitutions, replacements, attachments, additions, and accessions thereto, thereto (all or any of the foregoing hereinafter called the "Collateral" .") The Schedules may be ---------- supplemented from time to time to evidence the Collateral subject to this Agreement. (DESCRIPTION OF COLLATERAL ON ATTACHED SCHEDULES. THE SCHEDULES MAY BE SUPPLEMENTED FROM TIME TO TIME TO EVIDENCE THE COLLATERALDebtor shall request in writing each advance of principal under the Notes, SUBJECT TO THIS AGREEMENT.) Secured Party will make up to two million five hundred thousand dollars ($2,500,000) in financing available. There will which request shall be no more than ten (10) fundings, with all fundings to occur by May 31, 1995. Ten days prior to each funding, Debtor must submit satisfactory to Secured Party in form and substance. Each advance shall be on and subject to the Loan Request Certificate that sets terms and conditions set forth there is no default hereunderin this Agreement and shall otherwise be at Secured Party's sole discretion. Each Note shall be in an amount not less than $100,000.00. No principal advance under any Notes shall be made after July 31, 1998, and each advance shall reduce, dollar for dollar, the amount that each of may be advanced under the covenants Notes in the aggregate. Amounts advanced and conditions contained herein have been satisfied. Second Party has no obligation to make additional advances if there is an Event of Default hereunderrepaid may not be reborrowed.

Secure Payment. To secure payment of indebtedness in the principal sum of up ------ -------- to two million five hundred thousand dollars Three Million Five Hundred Thousand and 00/ 100 Dollars ($2,500,000) 3,500,000.00), as evidenced by one or more a note or notes executed and delivered by Debtor to Secured Party (the "Notes"), which Debtor has executed ) and delivered and will execute and deliver to Secured Party and also to secure any other indebtedness or liability of Debtor to Secured Partyobligations arising under this Agreement, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arisingarising and no matter how acquired by Secured Party, including all future advances or loans which may be made at the option of Secured Party (all the foregoing hereinafter called the "Indebtedness"), Debtor hereby grants and conveys to Secured Party a first superior priority continuing lien and security interest in the personal property described below and/or on the Schedule(sany schedule(s) now or hereafter attached to or made a part hereof by reference hereto (the "Schedules"), all products and proceeds (including insurance proceeds) thereof, if any, and all increases, substitutions, replacements, attachments, additions, and accessions thereto, thereto (all or any of the foregoing hereinafter called the "Collateral" .") The Schedules may be supplemented from time to time to evidence the Collateral subject to this Agreement. (DESCRIPTION OF COLLATERAL ON ATTACHED SCHEDULES. THE SCHEDULES MAY BE SUPPLEMENTED FROM TIME TO TIME TO EVIDENCE THE COLLATERALDebtor shall request in writing each advance of principal under the Notes, SUBJECT TO THIS AGREEMENT.) Secured Party will make up to two million five hundred thousand dollars ($2,500,000) in financing available. There will which request shall be no more than ten (10) fundings, with all fundings to occur by May 31, 1995. Ten days prior to each funding, Debtor must submit satisfactory to Secured Party in form and substance. Each advance shall be on and subject to the Loan Request Certificate that sets terms and conditions set forth there is no default hereunderin this Agreement and shall otherwise be at Secured Party's sole discretion. Each Note shall be in an amount not less than $250,000. No principal advance under any Notes shall be made after October 31, 1998, and each advance shall reduce, dollar for dollar, the amount that each of may be advanced under the covenants Notes in the aggregate. Amounts advanced and conditions contained herein have been satisfied. Second Party has no obligation to make additional advances if there is an Event of Default hereunderrepaid may not be reborrowed.