Common use of Security Interest; Collateral; Obligations Clause in Contracts

Security Interest; Collateral; Obligations. The Borrower hereby grants to the Bank, as security for any and all obligations whatsoever of the Borrower to the Bank, whether direct, indirect, absolute or contingent, due or to become due, and whether now existing or hereafter arising and howsoever evidenced or acquired, including without limitation all indebtedness and liabilities evidenced by the Loan, this Agreement, the other Loan Documents, checking account overdrafts, and letter of credit reimbursement agreements, excluding, however, indebtedness incurred primarily for personal, family or household purposes (collectively, the "Obligations"), a first lien on, and, security interest in and agrees and acknowledges that the Bank has and will continue to have a first lien on, and a perfected security interest in all of the Collateral described below, both presently owned and after acquired, together with all proceeds and products thereof, additions and accessions thereto, and all replacements and substitutions therefor (collectively, the "Collateral"), excluding, however, all such Collateral which constitutes Consumer Goods in the hands of the Borrower: Accounts, Inventory, Equipment, Fixtures, Books and Records, Chattel Paper, Documents, General Intangibles, Instruments, Machinery, Contract Rights and Furniture

Appears in 1 contract

Samples: Revolver/Term Loan Agreement (Mikron Instrument Co Inc)

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Security Interest; Collateral; Obligations. The Borrower hereby grants to the Bank, as security for any and all obligations whatsoever of the Borrower to the Bank, whether direct, indirect, absolute or contingent, due or to become due, and whether now existing or hereafter arising and howsoever evidenced or acquired, including without limitation all indebtedness and liabilities evidenced by the Loan, this Agreement, the other Loan Documents, checking account overdrafts, and letter of credit reimbursement agreements, excluding, however, indebtedness incurred primarily for personal, family or household purposes (collectively, the "Obligations"), a first lien on, and, and a security interest in and agrees and acknowledges that the Bank has and will continue to have a first lien on, on and a perfected security interest in all of the Collateral described below, both presently owned and after acquired, together with all proceeds and products thereof, additions and accessions thereto, and all replacements and substitutions therefor (collectively, the "Collateral"), excluding, however, including all such Collateral which constitutes Consumer Goods in Fixtures attached to the hands Property as set forth on Exhibit A-4 and the Certificate of the Borrower: Accounts, Inventory, Equipment, Fixtures, Books and Records, Chattel Paper, Documents, General Intangibles, Instruments, Machinery, Contract Rights and FurnitureDeposit (as defined below).

Appears in 1 contract

Samples: Term Loan Agreement (Vivus Inc)

Security Interest; Collateral; Obligations. The Borrower hereby grants to the Bank, as security for any and all obligations whatsoever of the Borrower to the Bank, whether direct, indirect, absolute or contingent, due or to become due, and whether now existing or hereafter arising and howsoever evidenced or acquired, including without limitation all indebtedness and liabilities evidenced by the Loan, this Agreement, the other Loan Documents, checking account overdrafts, and letter of credit reimbursement agreements, excluding, however, indebtedness incurred primarily for personal, family or household purposes (collectively, the "Obligations"), a first lien on, and, security interest in and agrees and acknowledges that the Bank has and will continue to have a first lien on, and a perfected security interest in all of the Collateral described below, both presently owned and after acquired, together with all proceeds and products thereof, additions and accessions thereto, and all replacements and substitutions therefor (collectively, the "Collateral"), excluding, however, all such Collateral which constitutes Consumer Goods in the hands of the Borrower: Accounts, InventoryBooks/Records, Chattel, Documents, Equipment, Fixtures, Books and RecordsInstruments, Chattel Paper, Documents, General Intangibles, InstrumentsInventory, Securities, Machinery, Furniture, Contract Rights and FurnitureRights.

Appears in 1 contract

Samples: Line of Credit Agreement (United Energy Corp /Nv/)

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Security Interest; Collateral; Obligations. The Borrower hereby grants to the Bank, as security for any and all obligations whatsoever of the Borrower to the Bank, whether direct, indirect, absolute or contingent, due or to become due, due and whether now existing or hereafter arising and howsoever evidenced or acquired, including without limitation all indebtedness and liabilities evidenced by the Loan, this Agreement, the other Loan Documents, checking account overdrafts, and letter of credit reimbursement agreements, excluding, however, indebtedness incurred primarily for personal, family or household purposes (collectively, the "Obligations"), a first lien on, and, security interest in and agrees and acknowledges that the Bank has and will continue to have a first lien on, and a perfected security interest in all of the Collateral described below, both presently owned and after acquired, together with all proceeds and products thereof, additions and accessions thereto, and all replacements and substitutions therefor (collectively, the "Collateral"), excluding, however, all such Collateral which constitutes Consumer Goods in the hands of the Borrower: Accounts, InventoryBooks/Records, EquipmentChattel, Documents, Equipment Fixtures, Books and Records, Chattel Paper, DocumentsInstruments, General Intangibles, InstrumentsInventory, Securities, Machinery, Furniture, Contract Rights and FurnitureRights.

Appears in 1 contract

Samples: Line of Credit Agreement (Mikron Instrument Co Inc)

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