Common use of Security for Payment Clause in Contracts

Security for Payment. To secure the due and punctual payment of the price for Products and Services and other amounts payable to Seller by Buyer, Seller shall have and retain, and Buyer grants to Seller, a first lien and security interest in all Products, in all Other Products (as defined in Paragraph 9 (Other Products) below), and in all proceeds in respect of Products and Other Products. If the price for any Products or Services or any other amount payable to Seller by Xxxxx is not paid when due, Seller shall have and may exercise any and all rights and remedies of a secured party under Applicable Law and any and all other rights and remedies it may have by contract, at law or in equity. In addition to the rights and remedies it may have under Applicable Law or otherwise have by contract, at law or in equity, Seller shall have the right to withhold shipment of Products, to recall and retake Products, to repossess Products, to take possession of Other Products, and to direct Buyer's customers to make payment directly to Seller for Products and Other Products, all without notice to Buyer and without initiating any legal proceedings. Seller shall have the right to execute such documents, make such filings and take such other actions in its own name and/or in the name of Buyer and to require Buyer to make such filings, execute such documents and take such other actions, as Seller may deem necessary or appropriate from time to time to evidence and confirm its first lien and security interest and exercise its rights and remedies as a secured party.

Security for Payment. To secure the due and punctual payment of the price for Products and Services and other amounts payable to Seller by Buyer, Seller shall have and retain, and Buyer grants to Seller, a first lien and security interest in all Products, in all Other Products (as defined in Paragraph 9 (Other Products) below), and in all proceeds in respect of Products and Other Products. If the price for any Products or Services or any other amount payable to Seller by Xxxxx is not paid when due, Seller shall have and may exercise any and all rights and remedies of a secured party under Applicable Law and any and all other rights and remedies it may have by contract, at law or in equity. In addition to the rights and remedies it may have under Applicable Law or otherwise have by contract, at law or in equity, Seller shall have the right to withhold shipment of Products, to recall and retake Products, to repossess Products, to take possession of Other Products, and to direct Buyer's customers to make payment directly to Seller for Products and Other Products, all without notice to Buyer and without initiating any legal proceedings. Seller shall have the right to execute such documents, make such filings and take such other actions in its own name and/or in the name of Buyer Xxxxx and to require Buyer to make such filings, execute such documents and take such other actions, as Seller may deem necessary or appropriate from time to time to evidence and confirm its first lien and security interest and exercise its rights and remedies as a secured party.

Security for Payment. To secure the due and punctual payment of the price for Products and Services and other amounts payable to Seller by Buyer, Seller shall have and retain, and Buyer grants to Seller, a first lien and security interest in all Products, in all Other Products (as defined in Paragraph 9 (Other Products) below), and in all proceeds in respect of Products and Other Products. If the price for any Products or Services or any other amount payable to Seller by Xxxxx Buyer is not paid when due, Seller shall have and may exercise any and all rights and remedies of a secured party under Applicable Law and any and all other rights and remedies it may have by contract, at law or in equity. In addition to the rights and remedies it may have under Applicable Law or otherwise have by contract, at law or in equity, Seller shall have the right to withhold shipment of Products, to recall and retake Products, to repossess Products, to take possession of Other Products, and to direct Buyer's customers to make payment directly to Seller for Products and Other Products, all without notice to Buyer and without initiating any legal proceedings. Seller shall have the right to execute such documents, make such filings and take such other actions in its own name and/or in the name of Buyer and to require Buyer to make such filings, execute such documents and take such other actions, as Seller may deem necessary or appropriate from time to time to evidence and confirm its first lien and security interest and exercise its rights and remedies as a secured party.

Security for Payment. To secure the due and punctual payment of the price for Products and Services and other amounts payable to Seller by Buyer, Seller shall have and retain, and Buyer grants to Seller, a first lien and security interest in all Products, in all Other Products (as defined in Paragraph 9 (Other Products) below), and in all proceeds in respect of Products and Other Products. If the price for any Products or Services or any other amount payable to Seller by Xxxxx is not paid when due, Seller shall have and may exercise any and all rights and remedies of a secured party under Applicable Law and any and all other rights and remedies it may have by contract, at law or in equity. In addition to the rights and remedies it may have under Applicable Law or otherwise have by contract, at law or in equity, Seller shall have the right to withhold shipment of Products, to recall and retake Products, to repossess Products, to take possession of Other Products, and to direct Buyer's ’s customers to make payment directly to Seller for Products and Other Products, all without notice to Buyer and without initiating any legal proceedings. Seller shall have the right to execute such documents, make such filings and take such other actions in its own name and/or in the name of Buyer and to require Buyer to make such filings, execute such documents and take such other actions, as Seller may deem necessary or appropriate from time to time to evidence and confirm its first lien and security interest and exercise its rights and remedies as a secured party.

Security for Payment. To secure the due and punctual payment of the price for Products and Services and other amounts payable to Seller by Buyer, Seller shall have and retain, and Buyer grants to Seller, a first lien and security interest in all Products, in all Other Products (as defined in Paragraph 9 (Other Products) below), and in all proceeds in respect of Products and Other Products. If the price for any Products or Services or any other amount payable to Seller by Xxxxx Buyer is not paid when due, Seller shall have and may exercise any and all rights and remedies of a secured party under Applicable Law and any and all other rights and remedies it may have by contract, at law or in equity. In addition to the rights and remedies it may have under Applicable Law or otherwise have by contract, at law or in equity, Seller shall have the right to withhold shipment of Products, to recall and retake Products, to repossess Products, to take possession of Other Products, and to direct Buyer's customers to make payment directly to Seller for Products and Other Products, all without notice to Buyer and without initiating any legal proceedings. Seller shall have the right to execute such documents, make such filings and take such other actions in its own name and/or in the name of Buyer Xxxxx and to require Buyer to make such filings, execute such documents and take such other actions, as Seller may deem necessary or appropriate from time to time to evidence and confirm its first lien and security interest and exercise its rights and remedies as a secured party.