Security for Notes Sample Clauses
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. This Agreement is made by the Company in favor of the Collateral Agent pursuant to the Securities Purchase Agreement dated February 11, 1997 (as amended, restated, supplemented or otherwise modified from time to time in accordance with the provisions thereof, the “Securities Purchase Agreement”) by and among Home Asset Management Corp., a Delaware corporation (the “Issuer”), the Company, American Residential Investment Trust, Inc., a Maryland corporation (“Reit”), and each of the purchasers listed on the signature pages thereto (the “Purchasers”), providing, among other things, for the purchase by the Purchasers of $25,000,000 aggregate principal amount of the Issuer’s 12% Senior Secured Notes due February 11, 2002 (the “Notes”), and in order to induce the Purchasers to enter into the Securities Purchase Agreement and to purchase the Notes thereunder. The agreements of and pledge by the Company hereunder are in favor of the Collateral Agent for the benefit of the Holders, to secure (a) the obligations of the Company, in its capacity as Guarantor pursuant to Section 10 of the Securities Purchase Agreement, and (b) the due performance of and compliance by the Company with all the terms of and all the obligations of the Company to the Holders under the Subsidiary Guaranty of the Company (the “Guaranty”) and the Securities Purchase Agreement (all the foregoing contained in subclauses (a) and (b) hereinafter referred to as the “Secured Obligations”). For the purposes hereof, the term “Holder” or “Holders” shall mean each Purchaser (so long as it holds any of the Notes) and any other holder of the Notes. The Purchasers have entered into a Collateral Agency Agreement dated as of February 11, 1997 with the Collateral Agent (as amended, restated, supplemented or otherwise modified from time to time in accordance with the provisions thereof, the “Collateral Agency Agreement”) to act as their agent to take possession of and hold the Pledged Security on their behalf.
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. 23 Section 4.03 Substitution and Purchase of Receivables; Upgrade Contracts .............24 Section 4.04 Releases ...................................26 Section 4.05 Trust Estate ...............................26 Section 4.06 Notice of Release ..........................26 Section 4.07 Opinions as to Trust Estate ................27
Security for Notes. The Notes shall be executed by the Company and delivered to the Trustee for authentication and thereupon the same shall be authenticated and delivered to the Company by the Trustee upon receipt of a Company Order and upon:
(a) establishment for the benefit of the Trustee on behalf of the Noteholders of the Lockbox Accounts, the Collection Account and the Reserve Account; and
(b) delivery by the Company to the Trustee, and receipt by the Trustee of the Mortgage Files and the Grant of all of the Company's right, title, and interest in and to the Trust Estate.
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.
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