Common use of Security Agreement under Uniform Commercial Code Clause in Contracts

Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Security Agreement as it relates to matters of the grant, perfection and priority of security interests the subject hereof, shall constitute a security agreement within the meaning of the Uniform Commercial Code of the States in which the Trust Property is located. If a Credit Agreement Event of Default shall occur, then in addition to having any other right or remedy available at law or in equity, the Bank may proceed under the applicable Uniform Commercial Code and exercise such rights and remedies as may be provided to a secured party by such Uniform Commercial Code with respect to all or any portion of the Trust Property which is personal property (including without limitation taking possession of and selling such property). If the Bank shall elect to proceed under the Uniform Commercial Code, then fifteen (15) days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Bank shall include, but not be limited to, attorneys' fees and legal expenses. At the Bank's request, the Borrower shall assemble such personal property and make it available to the Bank at a place designated by the Bank which is reasonably convenient to both parties. (b) The Borrower, upon request by the Bank from time to time, shall execute, acknowledge and deliver to the Bank one (1) or more separate security agreements, in form satisfactory to the Bank, covering all or any part of the Trust Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as the Bank may request in order to perfect, preserve, maintain, continue or extend the security interest under, and the priority of the Liens granted by, this Security Agreement and such security instrument. The Borrower further agrees to pay to the Bank (with funds provided by the Lessee for such purpose) on demand all costs and expenses incurred by the Bank in connection with the preparation, execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements the Bank shall reasonably require. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way impairing the right of the Bank to proceed against any property encumbered by this Security Agreement.

Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Security Agreement as it relates to matters of the grant, perfection and priority of security interests the subject hereof, shall constitute a security agreement within the meaning of the Uniform Commercial Code of the States states in which the Trust Property is Security Assets are located. If a Credit Agreement an Event of Default shall occuroccur and be continuing, then in addition to having any other right or remedy available at law or in equity, the Bank Agent may proceed under the applicable Uniform Commercial Code and exercise such rights and remedies as may be provided to a secured party by such Uniform Commercial Code with respect to all or any portion of the Trust Property Security Assets which is personal property (including without limitation taking possession of and selling such propertythe Property). If the Bank Agent shall elect to proceed under the Uniform Commercial Code, then fifteen ten (1510) days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Bank Agent shall include, but not be limited to, reasonable attorneys' fees and legal expenses. At the BankAgent's request, the Borrower shall assemble such personal property and make it available to the Bank Agent at a place designated by the Bank Agent which is reasonably convenient to both parties. (b) The Borrower, upon reasonable request by the Bank Agent from time to timetime as may be necessary to protect Agent's interest in the Security Assets, shall execute, acknowledge and deliver to the Bank Agent one (1) or more separate security agreements, in form satisfactory to the BankAgent, covering all or any part of the Trust Property Security Assets and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as the Bank Agent may request in order to perfect, preserve, maintain, continue or extend the security interest under, and the priority of the Liens granted by, this Security Agreement and such security instrument. The Borrower further agrees to pay to the Bank Agent (with funds provided by the Lessee for such purposepurpose in accordance with the terms of the Operative Agreements) on demand all costs and expenses incurred by the Bank Agent in connection with the preparation, execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements the Bank Agent shall reasonably require. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way impairing the right of the Bank Agent to proceed against any property the Property encumbered by this Security Agreement.

Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Security Agreement as it relates to matters of the grant, perfection and priority of security interests the subject hereof, shall constitute a security agreement within the meaning of the Uniform Commercial Code of the States in which the Trust Property is locatedCode. If a Credit Agreement an Event of Default shall occuroccur hereunder or under any of the Letter of Credit Documents and/or the Bond Documents, then in addition to having any other right or remedy available at law or in equityequity to each party comprising a Secured Party, the Bank Secured Party may proceed under the applicable Uniform Commercial Code and exercise such rights and remedies as may be provided to a secured party by such Uniform Commercial Code with respect to all or any portion of the Trust Property Collateral which is personal property (including without limitation taking possession of and selling such property). If the Bank Secured Party shall elect to proceed under the Uniform Commercial Code, then fifteen ten (1510) days' ’ notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Bank Secured Party shall include, but not be limited to, attorneys' ’ fees and legal expenses. At the Bank's Secured Party’s request, the Borrower shall assemble such personal property and make it available to the Bank Secured Party at a place designated by the Bank Secured Party which is reasonably convenient to both parties. (b) The Borrower, upon request by the Bank Secured Party from time to time, shall execute, acknowledge and deliver to the Bank Secured Party, and further authorizes the Secured Party to execute, acknowledge and/or deliver on its behalf one (1) or more separate security agreements, in form satisfactory to the BankSecured Party, covering all or any part of the Trust Property Collateral and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as the Bank Secured Party may request in order to perfect, preserve, maintain, continue or extend the security interest under, and the priority of the Liens granted by, this Security Agreement and such security instrument. The Borrower further agrees to pay to the Bank (with funds provided by the Lessee for such purpose) Secured Party on demand all costs and expenses incurred by the Bank Secured Party in connection with the preparation, execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements the Bank Secured Party shall reasonably require. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way impairing the right of the Bank Secured Party to proceed against any property encumbered by this Security Agreement.

Security Agreement under Uniform Commercial Code. (a) It is the intention of the parties hereto that this Security Agreement as it relates to matters of the grant, perfection and priority of security interests the subject hereof, shall constitute a security agreement within the meaning of the Uniform Commercial Code of the States in which the Trust Property is located. If a Credit Agreement Event of Default shall occur, then in addition to having any other right or remedy available at law or in equity, the Bank Agent may proceed under the applicable Uniform Commercial Code and exercise such rights and remedies as may be provided to a secured party by such Uniform Commercial Code with respect to all or any portion of the Trust Property which is personal property (including without limitation taking possession of and selling such property). If the Bank Agent shall elect to proceed under the Uniform Commercial Code, then fifteen (15) days' notice of sale of the personal property shall be deemed reasonable notice and the reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by the Bank Agent shall include, but not be limited to, attorneys' fees and legal expenses. At the BankAgent's request, the Borrower shall assemble such personal property and make it available to the Bank Agent at a place designated by the Bank Agent which is reasonably convenient to both parties. (b) The Borrower, upon request by the Bank Agent from time to time, shall execute, acknowledge and deliver to the Bank Agent one (1) or more separate security agreements, in form satisfactory to the BankAgent, covering all or any part of the Trust Property and will further execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, any financing statement, affidavit, continuation statement or certificate or other document as the Bank Agent may request in order to perfect, preserve, maintain, continue or extend the security interest under, and the priority of the Liens granted by, this Security Agreement and such security instrument. The Borrower further agrees to pay to the Bank Agent (with funds provided by the Lessee for such purpose) on demand all reasonable costs and expenses incurred by the Bank Agent in connection with the preparation, execution, recording, filing and re-filing of any such document and all reasonable costs and expenses of any record searches for financing statements the Bank shall reasonably require. The filing of any financing or continuation statements in the records relating to personal property or chattels shall not be construed as in any way impairing the right of the Bank to proceed against any property encumbered by this Security Agreement.expenses