Security for Loan. The Borrower covenants that the principal sum of loan, interest, commitment and other charges and any other dues under this agreement shall be secured by such security as IHFL shall determine in its own discretion, with IHFL having the right to decide the place, timing and type of the security including the manner of its creation and/or additional security it may require and the borrower shall create the security accordingly and furnish any such additional security as may be decided by IHFL. To secure, to the satisfaction of IHFL, the fulfillment of all the obligations of the Borrower under the Loan Documents including payment of the Borrower’s Dues and other amounts by the Borrower to IHFL under the Loan Documents, the Borrower hereby undertake(s) to forthwith create, and/or shall cause the Borrower to forthwith create, (a) such Security in favour of IHFL as mentioned in the Loan Documents (including those mentioned hereunder) and (b) such other additional Security of adequate value (to the satisfaction of IHFL), if IHFL so requests from time to time for any reason(s) whatsoever including due to inadequate value (in the opinion of IHFL) of any Security and/or IHFL’s right on any Security getting adversely affected in any manner pursuant to, inter alia, injunction/stay order/freeze/attachment of any Security or any part thereof. The Borrower shall, and/or shall cause the Borrower to, (a) forthwith execute and register, if required, appropriate Security Documents and other agreements/deeds relating thereto (in a format acceptable to IHFL) and (b) take/obtain a written no objection certificate (“NOC”) from IHFL prior to, inter alia, any application(s), agreement(s), document(s) and/or contract(s) for/of, inter alia, sale, conveyance, transfer, lease, sub-lease, rent, leave and license, negative lien, assignment, lien, charge, allotment and/or encumbrance (in any manner) of the Security (and/or any portion/unit thereof). Unless otherwise mentioned in the Loan Documents, the Borrower further undertake that it shall, and shall cause the Borrower to, forthwith execute the Security Documents and create the first-ranking and exclusive mortgage/ charge/pledge/hypothecation (in a mode/manner acceptable to IHFL) over the Security in favour of IHFL before or at the time of entering into this Agreement. Any failure/delay in execution of the Security Documents and creation of the Security as aforesaid shall be an Event of Default under the Loan Documents. The Borrower s...
Security for Loan. The Loan will be secured by a first lien on Borrower’s interests in the land, the improvements (the “Improvements”) and the other real property interests described in Exhibit C, by a first security interest in the personal property and other intangibles described in Exhibit C, by a collateral assignment of the leases affecting, and the rents, issues, profits and revenues arising from, such property, and by the additional collateral, security and security interests, if any, described or referred to in Exhibit C (collectively, the “Property”).
Security for Loan. The loan under this contract is secured by pledge of equity and the Pledge Agreement will be entered into separately. If it’s secured at the highest amount, the No. of the Pledge Agreement is / .
Security for Loan. The Company and the Sole Member intend that the loans contemplated by the Credit Agreement, dated as of November 13, 2012 (the “Loan Agreement”), by and among Broadview Networks Holdings, Inc., Broadview Networks, Inc., ARC Networks, Inc. and Bridgecom Solutions Group, Inc., as borrowers, the guarantors party thereto, the various financial institutions and other persons from time to time parties thereto, as lenders, and CIT Finance LLC, as administrative agent (the “Lender”), if extended by the Lender, will be secured by a security interest in the Company as more specifically set forth herein below. In furtherance thereof, the Company and the Sole Member hereby agree as follows for the specific benefit of the Lender:
Security for Loan. The Loan, together with interest thereon and all other charges and amounts payable by, and all other Obligations of, the Borrower and the other Loan Parties to the Agent and/or each of the Lenders, shall be secured by the following collateral (the “Collateral”) which the Borrower agrees to provide and maintain, or cause to be provided and maintained (whether provided for each in separate agreements or combined with various other agreements):
Security for Loan. Repayment of the Loan shall be secured by (i) granting to Holder a lien on, assignment of and security interest in and to certain oil and gas property rights that are held by Borrower (the “Collateral”) pursuant to a Mortgage, Assignment of Production, Security Agreement and Financing Statement (the “Assignment”) dated concurrently herewith, (ii) the Guaranty (the “Guaranty”) of Cellteck, and (iii) a first priority position or call right for an amount equal to the then-outstanding principal balance of and accrued interest on this Note on the first draw down by either Borrower or Cellteck of the $20,000,000 Equity Line of Credit (the “GEM Equity Line of Credit”) with Global Emerging Markets (“GEM”) (the “GEM Priority Call Rights”).
Security for Loan. Repayment of the Loan shall be secured by (i) granting to Holder a lien on, assignment of and security interest in and to certain oil and gas property rights that are held by Borrower (the “Collateral”) pursuant to a Mortgage, Assignment of Production, Security Agreement and Financing Statement (the “Assignment”) dated February 8, 2013 and as amended on April 23, 2013, (ii) the Guaranty (the “Guaranty”) of Cellteck dated February 8, 2013, and (iii) a first priority position or call right for an amount equal to the then-outstanding principal balance of and accrued interest on this Note on the first draw down by either Borrower or Cellteck of the $20,000,000 Equity Line of Credit (the “GEM Equity Line of Credit”) with Global Emerging Markets (“GEM”) (the “GEM Priority Call Rights”).
Security for Loan. The Loan shall be secured and/or supported by, among other things, the Mortgage, the Cash Management Agreement, the Clearing Account Agreement, the Pledge and Assignment of Reserve Accounts, the Environmental Indemnity, all of the Accounts, the Guaranty, and the other Loan Documents.
Security for Loan. Repayment of the Loan shall be secured by:
(a) The Assignment, which Borrower hereby expressly acknowledges and agrees applies to the entire amount of the Obligation (as defined below in Section 1.6) set forth in this Note;
(b) The Guaranty, which Borrower hereby expressly acknowledges and agrees applies to the entire amount of the Obligation set forth in this Note;
(c) A first priority lien and security interest in all of Borrower’s collateral (the “Collateral”), subject to the terms and conditions of a Pledge and Security Agreement among Borrower and the Holder in substantially the form attached hereto as Exhibit A (the “Security Agreement”), which shall be fully executed and delivered to the parties hereto on or prior to the Closing Date;
(d) Upstream guarantees of the Obligation by all of the Company Subsidiaries (as defined in Section 4.3 below) other than the Borrower in substantially the form attached as Exhibit A to the Security Agreement (the “Upstream Guarantees”), which shall be fully executed and delivered to the parties hereto on or prior to the Closing Date;
(e) Subject to Section 2.4 of this Note, a first priority position or call right for an amount equal to the then-outstanding principal balance of and accrued interest on this Note on any draw-downs by Borrower, Parent or any of the Company Subsidiaries on the first $20,000,000 in an Equity Line of Credit (“GEM Reimbursement Rights”) from Global Emerging Markets (“GEM”) evidenced in the Common Stock Purchase Agreement dated July 11, 2013 between GEM and Parent (the “GEM Equity Line of Credit”);
(f) Subject to Section 2.4 of this Note, a first priority position or call right for an amount equal to the then-outstanding principal balance of and accrued interest on this Note from any ACES reimbursement funds or other proceeds Parent, Borrower or any of the Company Subsidiaries may receive at any time (the “Buccaneer Reimbursement Right”) pursuant to the Second Amended and Restated Cxxx Inlet Participation Agreement (the “Participation Agreement”) dated October 17, 2000 xxxxxxx Xxxxxx, Xxxxxxxxx Xxxxxx, LLC (“Buccaneer”) and Buccaneer Alaska Operations, LLC; and
(g) From and after November 6, 2013, Parent and the Company Subsidiaries shall be entitled to receive all proceeds from any kind of transaction, including but not limited to the sale of debt, stock or other equity, a joint venture, or sale-and-leaseback, pursuant to which Parent, Borrower and the Company Subsidiaries receive an aggregat...
Security for Loan. Borrower hereby grants to Bank a continuing security interest in the Collateral as security for all Indebtedness, as herein provided for, or as provided for in the Collateral Documents, and Borrower has executed and delivered to Bank, or will execute or have executed and delivered to Bank, the documents referred to below securing and/or pledging to Bank any and all interests the Borrower may have, now or hereafter, in any of the Collateral referred to in any of the following documents or instruments, and/or containing such other terms, covenants, agreements, representations, warranties and other matters as Bank may require, all of which are part of the Collateral Documents. The title to any item of Collateral, ownership of which is evidenced by a Certificate of Title, shall have the Bank’s lien noted thereon (or on an application therefor) and recorded with the governmental agency issuing such Certificate of Title, in accordance with Section 2.2 of this Agreement. Each Borrower acknowledges and agrees that all of the Notes shall be secured by a security interest in all of the Collateral owned by LGSI Indiana and LGSI Wyoming such that the Notes are “cross-collateralized.” In addition, the Loan is subject to a Purchase and Sale Agreement of even date herewith between Logistics Insight Corp., a Michigan corporation, and Bank.
