Common use of Security Agreement and Financing Statements Clause in Contracts

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.

Appears in 2 contracts

Samples: Credit Agreement (Wynn Resorts LTD), Credit Agreement (Wynn Las Vegas LLC)

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Security Agreement and Financing Statements. Trustor (a) Mortgagor (as debtor) hereby grants to Beneficiary Lender (as creditor and secured party) a present and future security interest under the Uniform Commercial Code in all Tangible Collateralfixtures, Intangible Collateralmachinery, FF&Eappliances, Improvementsequipment, all other furniture and 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 of every nature whatsoever constituting 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 Mortgaged Property"). Trustor Mortgagor shall execute and/or deliver any and all documents and writingsdocuments, including without limitation financing statements pursuant to the UCCUniform Commercial Code, as Lender may be necessary or prudent request to preserve preserve, maintain and maintain perfect the priority of the first lien and security interest granted created hereby on property which may be deemed subject to the foregoing security agreement personal property or as Beneficiary may reasonably requestfixtures, and shall pay to Beneficiary Lender on demand any reasonable expenses incurred by Beneficiary Lender in connection with the preparation, execution and filing of any such documents. Trustor Mortgagor hereby authorizes and empowers Beneficiary Lender and irrevocably appoints Lender the agent and attorney-in-fact of Mortgagor to execute and file, on Trustor's Mortgagor’s behalf, all financing statements and refiling refilings and continuations thereof as Lender deems necessary or advisable to create, preserve and protect said such lien. When and if Mortgagor and Lender shall respectively become the debtor and secured party in any Uniform Commercial Code financing statement affecting the Mortgaged Property (or Lender takes possession of personal property delivered by Mortgagor where possession is the means of perfection of the security interest. Trustor acknowledges and agrees that it is not authorized to), then, at Lender’s sole election, this Mortgage shall be deemed a security agreement as defined in such Uniform Commercial Code, and will notthe remedies for any violation of the covenants, authenticate terms and conditions of the agreements herein contained shall be as prescribed herein or fileby general law, or, as to such part of the security which is also reflected in such financing statement, by the specific statutory consequences now or authorize hereafter enacted and specified in the filing ofUniform Commercial Code. (b) Without limitation of the foregoing, if an Event of Default occurs, Lender shall be entitled immediately to exercise all remedies available to it under the Uniform Commercial Code and this Section 1.11. Mortgagor shall, in such event and if Lender so requests, assemble the tangible personal property at Mortgagor’s LaSalle Bank National Association April 20, 2005 Page 50 expense, at a convenient place designated by Lender. Lender may publicly or privately sell or otherwise dispose of such fixtures, machinery, appliances, equipment, furniture and personal property upon such terms and in such manner as Lender may require. Mortgagor shall pay all expenses incurred by Lender in the collection of such indebtedness, including attorneys’ fees and legal expenses, and in the repair of any financing statements real estate or other record property to which any of the tangible personal property may be affixed. If any notification of intended disposition of any of the personal property is required by law, such notification shall be deemed reasonable and proper if given at least ten (10) days before such disposition. Any proceeds of the disposition of any of the personal property may be applied by Lender to the payment of the reasonable expenses of retaking, holding, preparing for sale and selling the personal property, including attorneys’ fees and legal expenses, and any balance of such proceeds may be applied by Lender toward the payment of such of Mortgagor’s Liabilities, and in such order of application, as Lender may from time to time elect. If an Event of Default occurs, Lender shall have the right to exercise and shall automatically succeed to all rights of Mortgagor with respect to intangible personal property subject to the Personal Property (including security interest granted herein. Any party to any amendments theretocontract subject to the security interest granted herein shall be entitled to rely on the rights of Lender without the necessity of any further notice or action by Mortgagor. Lender shall not by reason of this Mortgage or the exercise of any right granted hereby be obligated to perform any obligation of Mortgagor with respect to any portion of the personal property nor shall Lender be responsible for any act committed by Mortgagor, or continuation any breach or termination statements thereof)failure to perform by Mortgagor with respect to any portion of the personal property. (c) Mortgagor and Lender agree that the filing of a financing statement in the records normally having to do with personal property shall never be construed as in any way derogating from or impairing the express declaration and intention of the parties hereto, except as permitted by the Guaranty. Trustor approves and ratifies any filing or recording of records made by or on behalf of Beneficiary hereinabove stated, that everything used in connection with the perfection production of income from the Mortgaged Property and/or adapted for use therein and/or which is described or reflected in this Mortgage is, and at all times and for all purposes and in all proceedings, legal or equitable, shall be regarded as part of the security real estate encumbered by this Mortgage irrespective of whether (i) any such item is physically attached to the Land or Improvements, (ii) serial numbers are used for the better identification of certain equipment items capable of being thus identified in a recital LaSalle Bank National Association April 20, 2005 Page 51 contained herein or in any list filed with Lender, or (iii) any such item is referred to or reflected in any such financing statement so filed at any time. Similarly, the mention in any such financing statement of (1) rights in or to the proceeds of any fire and/or hazard insurance policy, or (2) any award in eminent domain proceedings for a taking or for loss of value, or (3) Mortgagor’s interest as lessor in favor of Beneficiary hereunder. This Deed of Trust constitutes both a real property deed of trust and a "security agreement," within the meaning any present or future lease or rights to income growing out of the UCC, and use and/or occupancy of the Trust Estate includes both real and personal property and all other rights and interestsMortgaged Property, whether tangible pursuant to lease or intangible otherwise, shall never be construed as in nature, any way altering any of Trustor the rights of Lender as determined by this instrument or adversely affecting the priority of Lender’s lien granted hereby or by any other recorded document. Any such mention in any such financing statement is declared to be for the protection of Lender in the Trust Estate. Trustor by executing event any court or judge shall at any time hold with respect to clauses (1), (2) or (3) above, that notice of Lender’s priority of interest, to be effective against a particular class of persons, including, but not limited to, the federal government and delivering this Deed of Trust has granted to Beneficiary, as security any subdivisions or entity of the Obligationsfederal government, a security interest must be filed in the Trust EstateUniform Commercial Code records.

Appears in 1 contract

Samples: Credit Agreement (Quixote Corp)

Security Agreement and Financing Statements. Trustor (a) Mortgagor (as debtor) hereby grants to Beneficiary Lender (as creditor and secured party) a present and future security interest under the Uniform Commercial Code in all Tangible Collateralfixtures, Intangible Collateralmachinery, FF&Eappliances, Improvementsequipment, all other furniture and 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 of every nature whatsoever constituting 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 Mortgaged Property"). Trustor Mortgagor shall execute and/or deliver any and all documents and writingsdocuments, including without limitation financing statements pursuant to the UCCUniform Commercial Code, as Lender may be necessary or prudent request to preserve preserve, maintain and maintain perfect the priority of the first lien and security interest granted created hereby on property which may be deemed subject to the foregoing security agreement personal property or as Beneficiary may reasonably requestfixtures, and shall pay to Beneficiary Lender on demand any reasonable expenses incurred by Beneficiary Lender in connection with the preparation, execution and filing of any such documents. Trustor Mortgagor hereby authorizes and empowers Beneficiary Lender and irrevocably appoints Lender the agent and attorney-in-fact of Mortgagor to execute and file, on Trustor's Mortgagor’s behalf, all financing statements and refiling refilings and continuations thereof as Lender deems necessary or advisable to create, preserve and protect said such lien. When and if Mortgagor and Lender shall respectively become the debtor and secured party in any Uniform Commercial Code financing statement affecting the Mortgaged Property (or Lender takes possession of personal property delivered by Mortgagor where possession is the means of perfection of the security interest. Trustor acknowledges and agrees that it is not authorized to), then, at Lender’s sole election, this Mortgage shall be deemed a security agreement as defined in such Uniform Commercial Code, and will notthe remedies for any violation of the covenants, authenticate terms and conditions of the agreements herein contained shall be as prescribed herein or fileby general law, or, as to such part of the security which is also reflected in such financing statement, by the specific statutory consequences now or authorize hereafter enacted and specified in the filing ofUniform Commercial Code. (b) Without limitation of the foregoing, if an Event of Default occurs, Lender shall be entitled immediately to exercise all remedies available to it under the Uniform Commercial Code and this Section 1.11. Mortgagor shall, in such event and if Lender so requests, assemble the tangible personal property at Mortgagor’s LaSalle Bank National Association April 20, 2005 Page 11 expense, at a convenient place designated by Lender. Lender may publicly or privately sell or otherwise dispose of such fixtures, machinery, appliances, equipment, furniture and personal property upon such terms and in such manner as Lender may require. Mortgagor shall pay all expenses incurred by Lender in the collection of such indebtedness, including attorneys’ fees and legal expenses, and in the repair of any financing statements real estate or other record property to which any of the tangible personal property may be affixed. If any notification of intended disposition of any of the personal property is required by law, such notification shall be deemed reasonable and proper if given at least ten (10) days before such disposition. Any proceeds of the disposition of any of the personal property may be applied by Lender to the payment of the reasonable expenses of retaking, holding, preparing for sale and selling the personal property, including attorneys’ fees and legal expenses, and any balance of such proceeds may be applied by Lender toward the payment of such of Mortgagor’s Liabilities, and in such order of application, as Lender may from time to time elect. If an Event of Default occurs, Lender shall have the right to exercise and shall automatically succeed to all rights of Mortgagor with respect to intangible personal property subject to the Personal Property (including security interest granted herein. Any party to any amendments theretocontract subject to the security interest granted herein shall be entitled to rely on the rights of Lender without the necessity of any further notice or action by Mortgagor. Lender shall not by reason of this Mortgage or the exercise of any right granted hereby be obligated to perform any obligation of Mortgagor with respect to any portion of the personal property nor shall Lender be responsible for any act committed by Mortgagor, or continuation any breach or termination statements thereof)failure to perform by Mortgagor with respect to any portion of the personal property. (c) Mortgagor and Lender agree that the filing of a financing statement in the records normally having to do with personal property shall never be construed as in any way derogating from or impairing the express declaration and intention of the parties hereto, except as permitted by the Guaranty. Trustor approves and ratifies any filing or recording of records made by or on behalf of Beneficiary hereinabove stated, that everything used in connection with the perfection production of income from the Mortgaged Property and/or adapted for use therein and/or which is described or reflected in this Mortgage is, and at all times and for all purposes and in all proceedings, legal or equitable, shall be regarded as part of the security real estate encumbered by this Mortgage irrespective of whether (i) any such item is physically attached to the Land or Improvements, (ii) serial numbers are used for the better identification of certain equipment items capable of being thus identified in a recital LaSalle Bank National Association April 20, 2005 Page 12 contained herein or in any list filed with Lender, or (iii) any such item is referred to or reflected in any such financing statement so filed at any time. Similarly, the mention in any such financing statement of (1) rights in or to the proceeds of any fire and/or hazard insurance policy, or (2) any award in eminent domain proceedings for a taking or for loss of value, or (3) Mortgagor’s interest as lessor in favor of Beneficiary hereunder. This Deed of Trust constitutes both a real property deed of trust and a "security agreement," within the meaning any present or future lease or rights to income growing out of the UCC, and use and/or occupancy of the Trust Estate includes both real and personal property and all other rights and interestsMortgaged Property, whether tangible pursuant to lease or intangible otherwise, shall never be construed as in nature, any way altering any of Trustor the rights of Lender as determined by this instrument or adversely affecting the priority of Lender’s lien granted hereby or by any other recorded document. Any such mention in any such financing statement is declared to be for the protection of Lender in the Trust Estate. Trustor by executing event any court or judge shall at any time hold with respect to clauses (1), (2) or (3) above, that notice of Lender’s priority of interest, to be effective against a particular class of persons, including, but not limited to, the federal government and delivering this Deed of Trust has granted to Beneficiary, as security any subdivisions or entity of the Obligationsfederal government, a security interest must be filed in the Trust EstateUniform Commercial Code records.

Appears in 1 contract

Samples: Credit Agreement (Quixote Corp)

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&EFF&E (to the extent Beneficiary is permitted, in each applicable FF&E Financing Agreement, to maintain a security interest therein). 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 proceeds of insurance policies and consideration awards arising therefrom and all proceeds, 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 reasonably 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 execute and file, on Trustor's behalf, all financing statements and refiling and continuations thereof as Beneficiary deems reasonably necessary or 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.

Appears in 1 contract

Samples: Loan and Guaranty Agreement (Showboat Inc)

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 GuarantyIndenture Documents. 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.

Appears in 1 contract

Samples: Deed of Trust, Assignment of Rents and Leases, Security Agreement and Fixture Filing (Wynn Las Vegas LLC)

Security Agreement and Financing Statements. Trustor (a) Mortgagor (as debtor) hereby grants to Beneficiary Lender (as creditor and secured party) a present and future security interest under the Uniform Commercial Code in all Tangible Collateralfixtures, Intangible Collateralmachinery, FF&Eappliances, Improvementsequipment, all other furniture and 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 of every nature whatsoever constituting 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 Mortgaged Property"). Trustor Mortgagor shall execute and/or deliver any and all documents and writingsdocuments, including without limitation financing statements pursuant to the UCCUniform Commercial Code, as Lender may be necessary or prudent request to preserve preserve, maintain and maintain perfect the priority of the first lien and security interest granted created hereby on property which may be deemed subject to the foregoing security agreement personal property or as Beneficiary may reasonably requestfixtures, and shall pay to Beneficiary Lender on demand any reasonable expenses incurred by Beneficiary Lender in connection with the preparation, execution and filing of any such documents. Trustor Mortgagor hereby authorizes and empowers Beneficiary Lender and irrevocably appoints Lender the agent and attorney-in-fact of Mortgagor to execute and file, on Trustor's Mortgagor’s behalf, all financing statements and refiling refilings and continuations thereof as Lender deems necessary or advisable to create, preserve and protect said such lien. When and if Mortgagor and Lender shall respectively become the debtor and secured party in any Uniform Commercial Code financing statement affecting the Mortgaged Property (or Lender takes possession of personal property delivered by Mortgagor where possession is the means of perfection of the security interest. Trustor acknowledges and agrees that it is not authorized to), then, at Lender’s sole election, this Mortgage shall be deemed a security agreement as defined in such Uniform Commercial Code, and will notthe remedies for any violation of the covenants, authenticate terms and conditions of the agreements herein contained shall be as prescribed herein or fileby general law, or, as to such part of the security which is also reflected in such financing statement, by the specific statutory consequences now or authorize hereafter enacted and specified in the filing ofUniform Commercial Code. (b) Without limitation of the foregoing, if an Event of Default occurs, Lender shall be entitled immediately to exercise all remedies available to it under the Uniform Commercial Code and this Section 1.11. Mortgagor shall, in such event and if Lender so requests, assemble the tangible personal property at Mortgagor’s expense, at a convenient place designated by Lender. Lender may publicly or privately sell or otherwise dispose of such fixtures, machinery, appliances, equipment, furniture and personal property upon such terms and in such manner as Lender may require. Mortgagor shall pay all expenses incurred by Lender in the collection of such indebtedness, including attorneys’ fees and legal expenses, and in the repair of any financing statements real estate or other record property to which any of the tangible personal property may be affixed. If any notification of intended disposition of any of the personal property is required by law, such notification shall be deemed reasonable and proper if given at least ten (10) days before such disposition. Any proceeds of the disposition of any of the personal property may be applied by Lender to the payment of the reasonable expenses of retaking, holding, preparing for sale and selling the personal property, including attorneys’ fees and legal expenses, and any balance of such proceeds may be applied by Lender toward the payment of such of Mortgagor’s Liabilities, and in such order of application, as Lender may from time to time elect. If an Event of Default occurs, Lender shall have the right to exercise and shall automatically succeed to all rights of Mortgagor with respect to intangible personal property subject to the Personal Property (including security interest granted herein. Any party to any amendments theretocontract subject to the security interest granted herein shall be entitled to rely on the rights of Lender without the necessity of any further notice or action by Mortgagor. Lender shall not by reason of this Mortgage or the exercise of any right granted hereby be obligated to perform any obligation of Mortgagor with respect to any portion of the personal property nor shall Lender be responsible for any act committed by Mortgagor, or continuation any breach or termination statements thereof)failure to perform by Mortgagor with respect to any portion of the personal property. (c) Mortgagor and Lender agree that the filing of a financing statement in the records normally having to do with personal property shall never be construed as in any way derogating from or impairing the express declaration and intention of the parties hereto, except as permitted by the Guaranty. Trustor approves and ratifies any filing or recording of records made by or on behalf of Beneficiary hereinabove stated, that everything used in connection with the perfection production of income from the Mortgaged Property and/or adapted for use therein and/or which is described or reflected in this Mortgage is, and at all times and for all purposes and in all proceedings, legal or equitable, shall be regarded as part of the security real estate encumbered by this Mortgage irrespective of whether (i) any such item is physically attached to the Land or Improvements, (ii) serial numbers are used for the better identification of certain equipment items capable of being thus identified in a recital contained herein or in any list filed with Lender, or (iii) any such item is referred to or reflected in any such financing statement so filed at any time. Similarly, the mention in any such financing statement of (1) rights in or to the proceeds of any fire and/or hazard insurance policy, or (2) any award in eminent domain proceedings for a taking or for loss of value, or (3) Mortgagor’s interest as lessor in favor of Beneficiary hereunder. This Deed of Trust constitutes both a real property deed of trust and a "security agreement," within the meaning any present or future lease or rights to income growing out of the UCC, and use and/or occupancy of the Trust Estate includes both real and personal property and all other rights and interestsMortgaged Property, whether tangible pursuant to lease or intangible otherwise, shall never be construed as in nature, any way altering any of Trustor the rights of Lender as determined by this instrument or adversely affecting the priority of Lender’s lien granted hereby or by any other recorded document. Any such mention in any such financing statement is declared to be for the protection of Lender in the Trust Estate. Trustor by executing event any court or judge shall at any time hold with respect to clauses (1), (2) or (3) above, that notice of Lender’s priority of interest, to be effective against a particular class of persons, including, but not limited to, the federal government and delivering this Deed of Trust has granted to Beneficiary, as security any subdivisions or entity of the Obligationsfederal government, a security interest must be filed in the Trust EstateUniform Commercial Code records.

Appears in 1 contract

Samples: Credit Agreement (Quixote Corp)

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&EFF&E (to the extent Beneficiary is not prohibited, in each applicable FF&E Financing Agreement, to maintain a security interest therein), Improvements (to the extent, in the case of Improvements described in clause (2) of the definition thereof, that Beneficiary is not prohibited in each applicable FF&E Financing Agreement covering such Improvements, to maintain a security interest therein), 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 proceeds of insurance policies and consideration awards arising therefrom and all proceeds, 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 execute and 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.

Appears in 1 contract

Samples: Deed of Trust (Grand Canal Shops Mall Construction LLC)

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&EFF&E (to the extent Beneficiary is permitted, in each applicable FF&E Financing Agreement, to maintain a security interest therein), 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 proceeds of insurance policies and consideration awards arising therefrom and all proceeds, 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, (other than as expressly provided in the Security Agreement), 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 execute and 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 for the Secured Obligations, a security interest in the Trust Estate.

Appears in 1 contract

Samples: Deed of Trust (Riviera Holdings Corp)

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Security Agreement and Financing Statements. Trustor (as debtor) Borrower 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 interestof the Premises, to the extent that such property constitutes Premises may be subject to a security interest pursuant to the Code. From the date of its recording, this Mortgage shall be effective as a financing statement filed as a fixture filing pursuant to the Code with respect to all goods constituting part of the Trust Estate Premises (whether defined in section 1.2 of this Mortgage) which are or not such items are stored on to become fixtures related to the premises real estate described herein. The filing of a financing statement 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 fixture financing statements statement pursuant to the UCCCode shall never impair the stated intention of this Mortgage that all such property is and at all times and for all purposes and in all proceedings both legal or equitable shall be regarded as part of the real property mortgaged hereunder irrespective of whether such item is physically attached to the real property or any such item is referred to or reflected in a financing statement or fixture financing statement. The addresses of Borrower, as debtor, and Mortgagee, as secured party, are set forth in this Mortgage. Borrower hereby consents to any actions taken by Mortgagee, from time to time, to file or otherwise perfect financing and continuation statements and Borrower agrees to execute any documents as Mortgagee may be necessary or prudent request to preserve perfect and maintain the priority of the security interest granted hereby on property which may be deemed subject to created by this Mortgage and any separate security agreements securing payment of the foregoing security agreement or as Beneficiary may reasonably request, Obligations and shall will pay to Beneficiary Mortgagee on demand any reasonable expenses incurred by Beneficiary Mortgagee in connection with the preparation, execution and filing of any such documents. Trustor hereby authorizes Mortgagee will have the right to exercise any and empowers Beneficiary all of its rights hereunder pursuant to filethe provisions of the Code, on Trustor's behalfwith such rights being construed in accordance with such Code and without waiving or relinquishing any rights which it may have as Mortgagee. This Mortgage may be utilized separately as a security agreement alone, all financing statements mortgage alone or mortgage and refiling security agreement combined. Written notice, when required by law, sent to Borrower at least ten calendar days (counting the day of sending) before a proposed disposition of any Personal Property, is reasonable notice. Borrower represents and continuations thereof as advisable warrants to createMortgagee: that the exact legal name of Borrower is set forth in the first paragraph of this Mortgage; that Borrower is organized under the laws of the state set forth in the first paragraph of this Mortgage; that Borrower is an organization of the type described in the first paragraph of this Mortgage. Borrower covenants that Borrower will not cause or permit any change to be made in its name, preserve and protect said security interest. Trustor acknowledges and agrees that it is not authorized toidentity or organizational structure unless Borrower shall have first notified Mortgagee in writing of such change at least 30 days prior to the effective date of such change, and will not, authenticate shall have first taken all action required by Mortgagee for the purpose of perfecting or file, or authorize protecting 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 lien 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 hereunderMortgagee. This Deed Borrower’s principal place of Trust constitutes both a real property deed of trust business and a "security agreement," within the meaning of the UCCchief executive office, and the Trust Estate includes both real place where Borrower keeps its books and personal property and all other rights and interestsrecords, whether tangible including recorded data of any kind 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 regardless of the Obligationsmedium or recording, a security interest including software, writings, plans, specifications and schematics, has been for the preceding four months (or, if less, the entire period of the existence of Borrower) and will continue to be the address of Borrower set forth herein (unless Borrower notifies Mortgagee in writing at least 30 days prior to the Trust Estatedate of such change). Borrower shall promptly notify Mortgagee of any change in its organizational identification number. If Borrower does not now have an organizational identification number and later obtains one, Borrower promptly shall notify Mortgagee of such organizational identification number.

Appears in 1 contract

Samples: Indenture (Heron Lake BioEnergy, LLC)

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&EFF&E (to the extent Beneficiary is permitted, in each applicable FF&E Financing Agreement, to maintain a security interest therein), 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 proceeds of insurance policies and consideration awards arising therefrom and all proceeds, 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 PropertyPERSONAL 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, (other than as expressly provided in the Security Agreement), 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 execute and 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 for the Obligations, a security interest in the Trust Estate.

Appears in 1 contract

Samples: Deed of Trust (Coast Resorts Inc)

Security Agreement and Financing Statements. Trustor Mortgagor (as debtor) hereby grants to Beneficiary Mortgagee (as creditor and secured party) a present and future security interest in all Tangible Collateral, Intangible Collateral, FF&EFF&E (to the extent Mortgagee is permitted in each applicable FF&E Financing Agreement to maintain a security interest therein), Improvements, all other personal property now or hereafter owned or leased by Trustor Mortgagor or in which Trustor Mortgagor has or will have any interest, to the extent that such property constitutes a part of the Trust Estate Mortgaged Property (whether or not such items are stored on the premises or elsewhere), Proceeds of the foregoing comprising a portion of the Trust Estate Mortgaged Property and all proceeds of insurance policies and condemnation awards arising therefrom and all proceeds, products, substitutions, and accessions therefor and thereto, subject to BeneficiaryMortgagee's rights to treat such property as real property as herein provided (collectively, the "Personal PropertyPERSONAL PROPERTY"). Trustor ) Mortgagor shall execute and/or deliver any and all documents and writings, including without limitation financing statements pursuant to the UCC, as may be reasonably 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 Mortgagee may reasonably request, and shall pay to Beneficiary Mortgagee on demand any reasonable expenses incurred by Beneficiary Mortgagee in connection with the preparation, execution and filing of any such documents. Trustor Mortgagor hereby authorizes and empowers Beneficiary Mortgagee to execute and file, on TrustorMortgagor's behalf, all financing statements and refiling and continuations thereof as Mortgagee deems necessary or 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 Leasehold Mortgage constitutes both a real property deed of trust mortgage and a "security agreement," within the meaning of the UCC, UCC and the Trust Estate Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Trustor Mortgagor in the Trust EstateMortgaged Property. Trustor Mortgagor by executing and delivering this Deed of Trust Leasehold Mortgage has granted to BeneficiaryMortgagee, as security of for the ObligationsDebt, a security interest in the Trust EstateMortgaged Property.

Appears in 1 contract

Samples: Loan and Guaranty Agreement (Showboat Inc)

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&EFF&E (to the extent Beneficiary is not prohibited, in each applicable FF&E Financing Agreement, to maintain a security interest therein), Improvements (to the extent, in the case of Improvements described in clause (2) of the definition thereof, that Beneficiary is not prohibited in each applicable FF&E Financing Agreement covering such Improvements, to maintain a security interest therein), 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 proceeds of insurance policies and consideration awards arising therefrom and all proceeds, 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 execute and 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 Leasehold 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 Leasehold Deed of Trust has granted to Beneficiary, as security of the Obligations, a security interest in the Trust Estate.

Appears in 1 contract

Samples: Leasehold Deed of Trust, Assignment of Rents and Leases and Security Agreement (Grand Canal Shops Mall Construction LLC)

Security Agreement and Financing Statements. Trustor Mortgagor (as debtor) hereby grants to Beneficiary Mortgagee (as creditor and secured party) a present and future security interest in in, except to the extent constituting Excluded Property, all Accounts Receivable, Tangible Collateral, Intangible Collateral, FF&E, Improvements, all other personal property now or hereafter owned or leased by Trustor Mortgagor or in which Trustor Mortgagor has or will have any interest, to the extent that such property constitutes a part of the Trust Estate Mortgaged Property (whether or not such items are stored on the premises or elsewhere), Proceeds of the foregoing comprising a portion of the Trust Estate Mortgaged Property and all proceeds of insurance policies and awards arising therefrom and all proceeds, products, substitutions, and accessions therefor and thereto, subject to Beneficiary's Mortgagee’s rights to treat such property as real property as herein provided (collectively, the "Personal Property"). Trustor Mortgagor 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 Mortgagee may reasonably request, and shall pay to Beneficiary Mortgagee on demand any reasonable expenses incurred by Beneficiary Mortgagee in connection with the preparation, execution and filing of any such documents. Trustor Mortgagor hereby authorizes and empowers Beneficiary Mortgagee to execute and file, on Trustor's Mortgagor’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 interest (which empowerment shall be irrevocable as it is not authorized to, and will not, authenticate or file, or authorize the filing of, any financing statements or other record coupled with respect to the Personal Property (including any amendments thereto, or continuation or termination statements thereofan interest), 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 Mortgage constitutes both a real property deed of trust Mortgage and a "security agreement," within the meaning of the UCC, and the Trust Estate Mortgaged Property includes both real and personal property and and, subject to the limitations set forth herein, all other rights and interests, whether tangible or intangible in nature, of Trustor Mortgagor in the Trust EstateMortgaged Property. Trustor Mortgagor by executing and delivering this Deed of Trust Mortgage has granted to BeneficiaryMortgagee, as security of for the Obligations, a security interest in the Trust EstateMortgaged Property and the items set forth in this Section 1.13.

Appears in 1 contract

Samples: Fee and Leasehold Mortgage, Assignment of Rents and Leases, Fixture Filing and Security Agreement (Marina District Development Company, LLC)

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