Common use of Security and Remedies Clause in Contracts

Security and Remedies. (a) The Contributor hereby grants to the Partnership a lien upon and a continuing security interest in the Partnership Units issued to it pursuant to the Transaction Documents and the shares of Common Stock acquired by it upon exercise of Rights with respect to such Partnership Units (the "Collateral"), which shall be security for the indemnification obligations of the Contributor under paragraph 10 hereof. Except as otherwise provided in this Amendment, the indemnification obligations of the Contributor hereunder with respect to breaches of Representations and Warranties shall be payable out of the Contributor's entire Collateral; provided, however, that the Contributor may satisfy all or any part of such indemnification obligation of the Contributor in cash if the Contributor so elects. Any Transfer by the Contributor of its Collateral shall be subject to the lien and security interest granted hereby.

Appears in 3 contracts

Samples: Weeks Realty L P, Weeks Realty L P, Weeks Corp

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Security and Remedies. (a1) The Contributor hereby grants to the Partnership a lien upon and a continuing security interest in the Partnership Units issued to it pursuant to the Transaction Documents and the shares of Common Stock acquired by it upon exercise of Rights with respect to such Partnership Units (the "Collateral"), which shall be security for the indemnification obligations of the Contributor under paragraph 10 hereof. Except as otherwise provided in this Amendment, the indemnification obligations of the Contributor hereunder with respect to breaches of Representations and Warranties shall be payable out of the Contributor's entire Collateral; provided, however, that the Contributor may satisfy all or any part of such indemnification obligation of the Contributor in cash if the Contributor so elects. Any Transfer by the Contributor of its Collateral shall be subject to the lien and security interest granted hereby.

Appears in 2 contracts

Samples: Rights Terms (Weeks Realty L P), Rights Terms (Weeks Corp)

Security and Remedies. (a) The Contributor hereby grants to the Partnership a lien upon and a continuing security interest in the Partnership Units issued to it each of them pursuant to the Transaction Documents and the shares of Common Stock acquired by it each of them upon exercise of Rights with respect to such Partnership Units (the "Collateral"), which shall be security for the indemnification obligations of the Contributor under paragraph 10 hereof. Except as otherwise provided in this Amendment, the indemnification obligations of the Contributor hereunder with respect to breaches of Representations and Warranties shall be payable out of the Contributor's entire Collateral; provided, however, that the Contributor may satisfy all or any part of such indemnification obligation of the Contributor in cash if the Contributor so electselect. Any Transfer by the a Contributor of its Collateral shall be subject to the lien and security interest granted hereby.

Appears in 1 contract

Samples: Certain Contribution Agreement (Weeks Corp)

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Security and Remedies. (a) The Contributor Each of the Contributors hereby grants to the Partnership a lien upon and a continuing security interest in the Partnership Units issued to it each of them pursuant to the Transaction Documents and the shares of Common Stock acquired by it each of them upon exercise of Rights with respect to such Partnership Units (the "Collateral"), which shall be security for the indemnification obligations of the Contributor Contributors under paragraph 10 hereof. Except as otherwise provided in this Amendment, the indemnification obligations of the Contributor Contributors hereunder with respect to breaches of Representations and Warranties shall be payable out of the Contributor's Contributors entire Collateral; provided, however, that the Contributor Contributors may satisfy all or any part of such indemnification obligation of the Contributor Contributors in cash if the Contributor Contributors so electselect. Any Transfer by the a Contributor of its Collateral shall be subject to the lien and security interest granted hereby.

Appears in 1 contract

Samples: Weeks Realty L P

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