Security for Notes. Prior to the issuance of the Notes on the Closing Date, the Issuer shall cause the following conditions to be satisfied:
Security for Notes. (a) The Servicer shall at its own expense, in consideration of the Servicer Fee, cause to be filed the financing statements and assignments described in Sections 4.01(a)(v) and 4.02(b) in accordance with such Sections. In addition, from time to time, the Servicer shall take or cause to be taken at its own expense, in consideration of the Servicer Fee, any other such actions and execute such documents as are necessary to perfect and protect the Issuer’s precautionary security interest against the Transferor, as applicable, in respect of the Contract Assets and the assignment to the Trustee thereof, and the Trustee’s security interests in and liens on the Collateral against all other Persons, including the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title; provided that, none of the Servicer, the Transferor nor the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to a Contract related to Equipment that had an original equipment cost at origination of less than (A) if such Contract is a secured loan or finance lease that provides for a $1 purchase option, $25,000, or (B) if such Contract provides for a “fair market value” purchase option, $50,000 or to file or record assignments of any UCC-1 financing statements or other lien recordings or notations made against any Obligor. Notwithstanding anything to the contrary contained herein, if the Servicer is not LEAF Financial Corporation or one of its Affiliates, the successor Servicer shall not be responsible for the initial filings of any UCC financing statements, or any continuation statements filed by any predecessor Servicer, or the information contained therein (including the exhibits thereto), the perfection of any such security interests during the term of such predecessor Servicer, or the accuracy or sufficiency of any description of collateral in such filings, and the successor Servicer shall be fully protected in relying on such initial filings and any continuation statements or modifications thereto made by a predecessor Servicer pursuant to this Section 4.02 but shall continue to be responsible for requirements expressed above during the period it acts as Servicer.
(b) If any change in the Servicer’s or the Issuer’s name, identity, structure or the location of its principal place of business, chief executive...
Security for Notes. In the event the Company secures by mortgage, pledge, encumbrance, lien or other charge any debt other than as permitted by Section 7.1 hereof, the Company shall secure equally and ratably the indebtedness incurred hereunder.
Security for Notes. (a) The City hereby pledges and grants to the Bank, on an equal and ratable basis with the holders of the Commercial Paper Notes and as collateral security for the payment by the City of all amounts now or at any time hereafter payable to the Bank under
(i) the proceeds from the sale of bonded indebtedness issued to refund outstanding Notes; and
(ii) the amounts held in the Note Payment Fund until the amounts deposited therein are used for authorized purposes.
(b) In addition, the City hereby pledges and grants to the Bank, on an equal and ratable basis with the holders of the Commercial Paper Notes and the holders of the Parity Lien Obligations, as collateral security for the payment by the City of all amounts now or at any time hereafter payable to the Bank under this Agreement, the due and punctual observance and performance of all other obligations of the City under this Agreement, subject only to the provisions of the Ordinance permitting the application thereof for purposes and on the terms and conditions set forth therein, a lien on, pledge of and security interest in the Pledged Revenues; provided, however, that the lien on, pledge of and security interest in the Pledged Revenues to secure payment of the Notes and other amounts payable under this Agreement shall be subordinate only to the lien on and pledge of the Pledged Revenues securing the payment of the principal of and interest on Subordinate Xxxx Xxxxx and Separate Lien Obligations. The liens and security interests described in Section 2.11(a) and (b) are referred to collectively as the “Security.”
(c) The Bank acknowledges that the pecuniary obligations of the City under this Agreement in the nature of fees due hereunder or under the Fee Letter or any other amounts owed to the Bank hereunder or under any other Related Document are secured by and payable solely from the Security.
(d) Chapter 1208, Texas Government Code provides that no filing, registering, recording or publication of this Agreement or the Fee Letter is required to establish a pledge of Pledged Revenues to perfect, protect or maintain the lien securing the obligations of the City under this Agreement or the Fee Letter. In the event Chapter 1208, Texas Government Code is amended at any time while any obligations of the City remain outstanding under this Agreement, or the Fee Letter, such that the lien on the Pledged Revenues is to be subject to the filing requirements of Chapter 9, Texas Business & Commerce Code, the City agre...
Security for Notes. 24 Section 4.03 Substitution and Purchase of Receivables; Upgrade Contracts.24 Section 4.04 Releases....................................................26 Section 4.05 Trust Estate................................................28 Section 4.06 Notice of Release...........................................28 Section 4.07 Opinions as to Trust Estate.................................28 Section 4.08. Classes.....................................................29
Security for Notes. (a) The Issuer and the Originator shall file UCC-1 financing statements described in Sections 4.01(f) and 4.02(b)(vi) hereof in accordance with such Sections. In addition, as soon as practicable but no later than 30 days after the Initial Delivery Date and any subsequent Delivery Date or Acquisition Date, as the case may be, the Issuer and the Originator shall file with respect to all Contracts Granted to the Indenture Trustee on such date as to which the original cost of the underlying Equipment was in excess of $10,000, UCC assignments assigning to the Indenture Trustee on behalf of the Holders of the Notes, the Originator's security interest in the Equipment under such Contracts. From time to time, the Servicer shall take or cause to be taken such actions and execute such documents as are necessary to perfect and protect the Indenture Trustee's interests in the Contracts and the Equipment owned by the Issuer (provided that, with respect to financing statements filed regarding Equipment, the original cost of such Equipment was in excess of $10,000) against all other Persons, including, without limitation, the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title.
(b) If any change in either the Originator's or the Issuer's name, identity, structure or the location of its principal place of business, chief executive office or jurisdiction of organization occurs, then the Issuer shall, or the Issuer shall cause the Originator, to deliver 30 days prior written notice of such change or relocation to the Servicer and the Indenture Trustee and no later than the effective date of such change or relocation, the Servicer shall file such amendments or statements as may be required to preserve and protect the Indenture Trustee's interests in the Trust Estate.
(c) During the term of this Indenture, the Issuer shall maintain each of its chief executive office, principal place of business and jurisdiction of organization in one of the States of the United States.
(d) The Servicer agrees to pay all reasonable costs and disbursements in connection with the perfection and the maintenance of perfection, as against all third parties, of the Indenture Trustee's right, title and interest in and to the Trust Estate (other than with respect to the Equipment related to a Contract the original cost of which was less than $10,000...
Security for Notes. All Obligations shall be secured by one or more of a Deed of Trust, Security Agreement, Assignment of Rents and Leases, and Fixture Filing (collectively, as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Deed of Trust”) in a form approved by Lender covering certain real and personal property in which Borrower has an interest, (any land subject to Deed of Trust being the “Mortgaged Land” and the Mortgaged Land, together with all personal property covered by the Deed of Trust being the “Collateral”). Borrower shall also execute and deliver, or cause to be executed and delivered, such other agreements, instruments, financing statements and documents as are deemed necessary by Lender in order to perfect any security for any of the Obligations or otherwise effectuate the purpose of this Section 2.12.
Security for Notes. Prior to the issuance of any Notes on the Closing Date or any Issuance Date (as applicable), the Co-Issuers shall cause the following conditions to be satisfied:
Security for Notes. 36 Section 4.03
Security for Notes. (a) The Issuer, LFC VI and LFG shall file UCC-1 financing statements described in Sections 4.01(e) and 4.02
(b) in accordance with such Sections. From time to time, the Servicer shall take or cause to be taken such actions and execute such documents as are necessary to perfect and protect the Indenture Trustee's interest in the Trust Estate against all other Persons, including the filing of financing statements, amendments thereto and continuation statements, the execution of transfer instruments and the making of notations on or taking possession of all records or documents of title, provided that neither LFG, LFC VI nor the Issuer shall be required to file UCC-1 financing statements against Obligors with respect to the Equipment having a value of less than $5,000 and neither LFG, LFC VI nor the Issuer shall be required to file UCC assignments of any equipment filings against Obligors.
