Security for Promissory Notes Sample Clauses

Security for Promissory Notes. The promissory note (including the obligation to pay Deferred Consideration with respect to the purchased Shares) shall be a personal obligation of the JBrennan Purchaser which issues such promissory note and, in the case of a promissory note issued by any person or entity other than JBrennan, shall be personally guaranteed by JBrennan if he is living at the time such promissory note is issued. In addition, each JBrennan Purchaser shall pledge the purchased Shares as security for the obligations under such promissory note and any promissory note subsequently issued with respect to Deferred Consideration.
Sample 1Sample 2
AutoNDA by SimpleDocs
Security for Promissory Notes. 5.1 Buyer hereby pledges to Seller as security a first lien on all assets of QPQ Medical and High Sierra with the exception of the three (3) assets as set forth in a Settlement Agreement attached hereto as Exhibit "B". Notwithstanding the foregoing, prior to September 30, 1997, Seller shall have a second lien on all accounts receivable of Buyer, but thereafter, Seller shall have a first lien on all accounts receivable of Buyer. Buyer shall provide evidence that Seller has a first lien on all assets within seven (7) business days from and after September 30, 1997. 5.2 Buyer hereby pledges as additional security a first lien on all assets of Gold Coast Lifetime Medical Centers, Inc., wherever located. Buyer will obtain a subordination from any and all prior lienholders of record in a form acceptable to Seller. 5.3 Buyer will execute a Security Agreement, UCC-1 and UCC-3, and any other documents reasonably necessary to perfect Sellers security interest in the assets set forth in the schedule.
Sample 1
Security for Promissory Notes. 41 8.15 Delivery of Escrow Shares to Escrow Agent..............41
Sample 1
Security for Promissory Notes. Buyer shall secure its performance under each Promissory Note by delivering to the Escrow Agent, within fifteen (15) Business Days after the Closing, (a) a certificate representing a number of shares of Buyer Common Stock (the "Security Shares"), the fair market value of which is equivalent to the face value of such Promissory Note, and (b) a duly executed stock power separate from such certificate. The Security Shares shall be deposited in an account established at the Escrow Agent for receipt of such Security Shares (the "Escrow Account") and shall be held in such Escrow Account for the term of the Promissory Note. Within fifteen (15) Business Days of full payment of each Promissory Note by Buyer, such Shareholder shall deliver written notice to the Escrow Agent instructing the Escrow Agent to release the number of Security Shares securing Buyer's performance of such Promissory Note.
Sample 1
Security for Promissory Notes. ALTI's performance under the Prior Note described in Sections 2.2(b) shall be secured by a security agreement granting Telex a lien on ALTI's interest in the Marks on the terms set forth on Exhibit 2.4(a) (the "Prior Security Agreement"). Telex's rights in the Marks will be subordinate in lien and subordinate in payment to the holder of the first lien on the Marks, namely, ALTI's Lender's first priority security interest in the Marks. ALTI's performance under the promissory notes described in Sections 2.2(c) and (d) (the "Subordinate Promissory Notes") shall be secured by a security agreement granting Telex a lien on ALTI's interest in the Marks on the terms set forth on Exhibit 2.4(b) (the "Subordinate Security Agreement"). The Subordinate Security Interest shall be subordinate only to the rights of ALTI's Lender and which shall include such additional subordination, inter-creditor and forbearance provisions as are typically required in such transactions by ALTI's Lender. Telex agrees to execute a subordination agreement (the "Subordination Agreement") evidencing the subordination of its prior security interest and subordinate security interest and the limitation of its remedies thereunder as ALTI's Lender may require, provided that the terms of such documents are typical of those required in similar transactions by ALTI's Lender.
Sample 1
Security for Promissory Notes. In order to secure Seller’s claim under the promissory notes referred to in Article 2.3, Purchaser shall at the Closing (a) provide to Seller (i) a joint and several guarantee, as for its own debt (proprieborgen) of Tibia Konsult AB securing any payment claims of the holder of the promissory note attached hereto in draft form as Schedule 2.3(i) up to a maximum amount of 50% of all amounts payable under that promissory note, in the form set forth thereon (the “Tibia Guarantee I”); (ii) a joint and several guarantee, as for its own debt (proprieborgen) of Tibia Konsult AB securing any payment claims of the holder of the promissory note attached hereto in draft form as Schedule 2.3(ii) up to a maximum amount of 25% of all amounts payable under that promissory note, in the form set forth thereon (the “Tibia Guarantee II”); and (iii) a joint and several guarantee, as for its own debt (proprieborgen) of Xxx Xxxxxxxxx/Company securing any payment claims of the holder of the promissory note attached hereto in draft form as Schedule 2.3(ii) up to a maximum amount of 25% of all amounts payable under that promissory note, in the form set forth thereon (the “Xxx Xxxxxxxxx Guarantee”); and (b) pledge with effect as of the Closing to Seller all of Purchaser’s right and title in the Loan Note II and the Loan Note III, in accordance with Swedish Law and deliver to the Seller Loan Notes II and III and duly notify the Company as Borrower thereunder of the pledge.
Sample 1

Related to Security for Promissory Notes

  • Promissory Notes Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its permitted registered assigns) and in a form attached hereto as Exhibit C. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one or more promissory notes in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its permitted registered assigns).

  • Promissory Note The Promissory Note is enclosed. The Chief Financial Officer is required to sign it and return it to the OPWC Loan Officer, Xxxxx XxXxxx. It is preferable that you scan and email it to her at Xxxxx.XxXxxx@xxx.xxxxx.xx.xx but may also mail it to the address on our letterhead. Only use one method.

  • Promise to Pay; Promissory Notes (a) Borrowers agree to pay the Lender Group Expenses on the earlier of (i) the first day of the month following the date on which the applicable Lender Group Expenses were first incurred, or (ii) the date on which demand therefor is made by Agent (it being acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to the Loan Account pursuant to the provisions of Section 2.6(d) shall be deemed to constitute a demand for payment thereof for the purposes of this subclause (ii)). Borrowers promise to pay all of the Obligations (including principal, interest, premiums, if any, fees, costs, and expenses (including Lender Group Expenses)) in full on the Maturity Date or, if earlier, on the date on which the Obligations (other than the Bank Product Obligations) become due and payable pursuant to the terms of this Agreement. Borrowers agree that their obligations contained in the first sentence of this Section 2.5(a) shall survive payment or satisfaction in full of all other Obligations. (b) Any Lender may request that any portion of its Commitments or the Loans made by it be evidenced by one or more promissory notes. In such event, Borrowers shall execute and deliver to such Lender the requested promissory notes payable to the order of such Lender in a form furnished by Agent and reasonably satisfactory to Borrowers. Thereafter, the portion of the Commitments and Loans evidenced by such promissory notes and interest thereon shall at all times be represented by one or more promissory notes in such form payable to the order of the payee named therein.

  • Security for Obligations This Agreement secures, and the Collateral is collateral security for, the prompt and complete payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a) (and any successor provision thereof)), of all Obligations with respect to every Grantor (the “Secured Obligations”).

  • Secured Promissory Notes The Term Loans shall be evidenced by a Secured Promissory Note or Notes in the form attached as Exhibit D hereto (each a “Secured Promissory Note”), and shall be repayable as set forth in this Agreement. Borrower irrevocably authorizes each Lender to make or cause to be made, on or about the Funding Date of any Term Loan or at the time of receipt of any payment of principal on such Lender’s Secured Promissory Note, an appropriate notation on such Lender’s Secured Promissory Note Record reflecting the making of such Term Loan or (as the case may be) the receipt of such payment. The outstanding amount of each Term Loan set forth on such Lender’s Secured Promissory Note Record shall be prima facie evidence of the principal amount thereof owing and unpaid to such Lender, but the failure to record, or any error in so recording, any such amount on such Lender’s Secured Promissory Note Record shall not limit or otherwise affect the obligations of Borrower under any Secured Promissory Note or any other Loan Document to make payments of principal of or interest on any Secured Promissory Note when due. Upon receipt of an affidavit of an officer of a Lender as to the loss, theft, destruction, or mutilation of its Secured Promissory Note, Borrower shall issue, in lieu thereof, a replacement Secured Promissory Note in the same principal amount thereof and of like tenor.

  • Receivables Not To Be Evidenced by Promissory Notes Except in connection with its enforcement or collection of an Account, the Servicer will take no action to cause any Receivable to be evidenced by an instrument (as defined in the UCC as in effect in the State of Delaware).

  • Pledge and Security Agreement The security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Security Agent for the Secured Parties pursuant to the Pledge and Security Agreement, and the Grantors hereby acknowledge and affirm that the rights and remedies of the Security Agent with respect to the security interest in the Copyright Collateral made and granted hereby are more fully set forth in the Pledge and Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this Agreement is deemed to conflict with the Pledge and Security Agreement, the provisions of the Pledge and Security Agreement shall control.

  • The Security Agreement The security interest granted pursuant to this Trademark Security Agreement is granted in conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement and Grantor hereby acknowledges and affirms that the rights and remedies of the Collateral Agent with respect to the security interest in the Trademarks made and granted hereby are more fully set forth in the Security Agreement. In the event that any provision of this Trademark Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control unless the Collateral Agent shall otherwise determine.

  • No Financing Statements, Security Agreements No financing statement or security agreement describing all or any portion of the Collateral which has not lapsed or been terminated naming such Grantor as debtor has been filed or is of record in any jurisdiction except (a) for financing statements or security agreements naming the Collateral Agent on behalf of the Secured Parties as the secured party, and (b) as permitted by Section 4.1(e).

  • Promissory Notes and Tangible Chattel Paper If the Debtor shall at any time hold or acquire any promissory notes or tangible chattel paper, the Debtor shall forthwith endorse, assign and deliver the same to the Secured Party, accompanied by such instruments of transfer or assignment duly executed in blank as the Secured Party may from time to time specify.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!