Security Agreement and Financing Statements. Trustor (as debtor) hereby grants to Beneficiary (as creditor and secured party) a present and future security interest in all Tangible Collateral, Intangible Collateral, FF&E, Improvements, all other personal property now or hereafter owned or leased by Trustor or in which Trustor has or will have any interest, to the extent that such property constitutes a part of the Trust Estate (whether or not such items are stored on the premises or elsewhere), Proceeds of the foregoing comprising a portion of the Trust Estate and all products, substitutions, and accessions therefor and thereto, subject to Beneficiary's rights to treat such property as real property as herein provided (collectively, the "Personal Property"). Trustor shall execute and/or deliver any and all documents and writings, including without limitation financing statements pursuant to the UCC, as may be necessary or prudent to preserve and maintain the priority of the security interest granted hereby on property which may be deemed subject to the foregoing security agreement or as Beneficiary may reasonably request, and shall pay to Beneficiary on demand any reasonable expenses incurred by Beneficiary in connection with the preparation, execution and filing of any such documents. Trustor hereby authorizes and empowers Beneficiary to file, on Trustor's behalf, all financing statements and refiling and continuations thereof as advisable to create, preserve and protect said security interest. Trustor acknowledges and agrees that it is not authorized to, and will not, authenticate or file, or authorize the filing of, any financing statements or other record with respect to the Personal Property (including any amendments thereto, or continuation or termination statements thereof), except as permitted by the Guaranty. Trustor approves and ratifies any filing or recording of records made by or on behalf of Beneficiary in connection with the perfection of the security interest in favor of Beneficiary hereunder. This Deed of Trust constitutes both a real property deed of trust and a "security agreement," within the meaning of the UCC, and the Trust Estate includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Trustor in the Trust Estate. Trustor by executing and delivering this Deed of Trust has granted to Beneficiary, as security of the Obligations, a security interest in the Trust Estate.
Security Agreement and Financing Statements. Trustor shall execute, acknowledge and deliver to Beneficiary, and, if applicable, cause to be recorded or filed at Trustor's cost and expense, any and all such mortgages, assignments, transfers, assurances, financing statements and other instruments and documents and do such acts necessary for the better perfecting, assuring, conveying, assigning, transferring and confirming unto Beneficiary the property and rights herein conveyed or assigned or intended now or hereafter so to be. Unless prohibited by law, Trustor hereby authorizes Beneficiary to execute and file any such financing statements or continuation statements as provided to it on Trustor's behalf and/or without Trustor's signature. Trustor shall not change its name, identity or corporate structure without notifying Beneficiary at least 60 days in advance.
Security Agreement and Financing Statements. Borrower shall execute, acknowledge and deliver any and all such further conveyances, documents, mortgages and assurances as Standard Federal may reasonably require for accomplishing the purposes hereof, including financing statements required by Standard Federal to protect its interest under the provisions of the Michigan Uniform Commercial Code, as amended, forthwith upon the written request of Standard Federal. Upon any failure of Borrower to do so, Standard Federal may execute, record, file, re-record and refile any and all such documents for and in the name of Borrower, and Borrower hereby irrevocably appoints Standard Federal as agent and attorney-in-fact of Borrower for the foregoing purposes. This instrument is intended by the parties to be, and shall be construed as, a security agreement, as that term is defined and used in Article Nine of the Michigan Uniform Commercial Code, as amended, and shall grant to Standard Federal a security interest in that portion of the Project with respect to which a security interest can be granted under Article Nine of the Michigan Uniform Commercial Code, as amended, which security interest shall include a security interest in all personalty owned by Borrower, whether now owned or subsequently acquired, which is or in the future may be physically located on or affixed to the Project described in Exhibit "A" hereto, regardless of whether such personalty consists of fixtures under Michigan law, a security interest in the proceeds and products of the proceeds of all insurance policies now or hereafter covering all or any part of such collateral. For purposes of Article Nine of the Michigan Uniform Commercial Code, (a) Borrower herein is the "debtor", (b) Standard Federal herein is the "secured party", (c) information concerning the security interest created hereby may be obtained from Standard Federal at its address set forth on page 1 hereof, and (d) Borrower's mailing address is that set forth on page 1 hereof.
Security Agreement and Financing Statements. On or before the date hereof, the Company shall execute and deliver to the Lender: (1) a security agreement in the form of that attached hereto as Exhibit B (the "Security Agreement"), pursuant to which the Company shall pledge, assign and grant to the Lender a perfected, first priority security interest in and lien upon the Collateral, and (2) such UCC financing statements as the Lender may request.
Security Agreement and Financing Statements by Borrower granting a first lien and security interest in all furniture, equipment, inventory, fixtures, accounts, documents and general intangibles, including without limitation, franchise agreements, operating agreements, contract rights, licenses, permits and parish and city ordinances and approvals relating to or usable in connection with the use, occupancy, operation, ownership or maintenance of the Xxxxxx Shipyard;
Security Agreement and Financing Statements. The Company shall have executed and delivered to the Bank a security agreement in form and substance satisfactory to the Bank (the “Security Agreement”), granting the Bank a first priority security interest in all of the Company’s inventory, whether now existing or hereafter acquired. The Company shall have delivered to the Bank financing statements in the appropriate form, receipted to show that they have been filed in the appropriate jurisdictions to perfect the security interests granted to the Bank in the Security Agreement.
Security Agreement and Financing Statements. On or before the date hereof, the Company shall execute and deliver to the Administrative Agent and Collateral Agent:
(1) a security and collateral agency agreement in the form of that attached hereto as Exhibit B (the "Security Agreement"), pursuant to which the Company shall pledge, assign and grant to the Collateral Agent for the benefit of the Lenders a perfected, first priority security interest in and lien upon the Collateral as security for the Obligations, and (2) such UCC financing statements as the Collateral Agent may request.
Security Agreement and Financing Statements. The Bank shall have received (i) a duly executed original of an amendment to the Security Agreement in form and substance acceptable to the Bank, (ii) executed UCC-1 financing statements from the U.S. Borrower and each Domestic Subsidiary with respect to each location in which each such Credit Party has or maintains personal property, and (iii) searches of Uniform Commercial Code filings in the jurisdiction of the U.S. Borrower's and each Domestic Subsidiary's chief executive office and each jurisdiction where any Collateral (as defined in the Security Agreement) is located or where a filing would need to be made in order to perfect the Bank's security interest in the Collateral, together with copies of the financing statements on file in each such jurisdiction and evidence that no liens exist thereon other than as expressly approved by the Bank or permitted by the Loan Documents.
Security Agreement and Financing Statements. Trustor and Beneficiary agree: (i) that this Deed of Trust shall constitute a Security Agreement within the meaning of the Virginia Uniform Commercial Code (the "Code") with respect to all sums on deposit with the Beneficiary pursuant to Sections 3 and 4 hereof ("Deposits") and with respect to any property included in the definition herein of the word "Premises," which property may not be deemed to form a part of the real estate described in Exhibit A or may not constitute a "fixture" (within the meaning of the Code), and all replacements of such property, substitutions, additions and the proceeds thereof being sometimes herein collectively referred to as the "Collateral"); and (ii) that a security interest in and to the Collateral and Deposits is hereby granted to the Beneficiary; and (iii) that the Deposits and all of Trustor's right, title and interest therein are hereby assigned to the Beneficiary; all to secure payment of the indebtedness and to secure performance by the Trustor of the terms, covenants and provisions hereof. In that regard the following information is provided: Name of Debtor: Old Point Comfort Hotel, L.L.C. Address of Debtor: 104 Woodhall Drive Xxxxxxxx, XX 00000 Xxxx xx Xxxxxxx Xxxxx: JDI Hampton, L.L.C. Address of Secured Party: c/o JDI Realty, Inc. 150 South Wacker Drive, Suite 2660 Xxxxxxx, IL 60606 The Trustor warrants and represents that the loan made by the Beneficiary to the Trustor in accordance with the Note, this Deed of Trust, the Loan Agreement, and the other Loan Documents is made for the acquisition or conduct of a business or investment within the meaning ascribed to those terms under 6.1-330.75 of the Code, as amended. If an Event of Default occurs under this Deed of Trust, Beneficiary, pursuant to the appropriate provisions of the Code, shall have an option to proceed with respect to both the real property and Collateral in accordance with its rights, powers and remedies with respect to the real property in which event the default provisions of the Code shall not apply. The parties agree that if the Beneficiary shall elect to proceed with respect to the Collateral separately from the real property, Beneficiary shall have all remedies available in a secured party under the Code *************************** ****************************ILLEGIBLE******************************************* expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, ...
Security Agreement and Financing Statements. Contemporaneous with the execution and delivery of this Sixth Amendment, Borrowers shall execute and deliver to Lender a Security Agreement, in form and substance satisfactory to Lender (the "Security Agreement"), thereby, among other things, granting to Lender a perfected security interest in all sums now or hereafter on deposit in the Account or in any other account with or possessed by Lender. In addition, Borrowers shall, upon request of Lender, execute and deliver to Lender, such financing statements, continuation statements and other documents with respect to the amounts on deposit in the Account or in any other account with or possessed by Lender pursuant to the Uniform Commercial Code or otherwise, in form and substance satisfactory to Lender, and Borrowers will pay the costs, taxes, fees and charges incurred as a result of the filing of such financing statements and other documents in all public offices wherever the Lender deems filing to be necessary or desirable. Borrowers grant the Lender the right, at the Lender's option, to file any or all such financing statements, continuation statements and other documents pursuant to the Uniform Commercial Code and otherwise, without Borrowers' signature, and irrevocably appoints the Lender as Borrowers' attorney-in-fact to execute any such statements and documents in Borrowers' name and to perform all other acts which the Lender deems appropriate to perfect and to continue the security interests conferred by the Loan Agreement, as modified by this Sixth Agreement, and/or the Security Agreement.
