SECURITY INTEREST GRANTED. If the purchase provides for payments on credit, Retailer grants Sprint a security interest in the Products purchased from Sprint by Retailer, whether now owned or hereafter acquired, and any proceeds thereof to secure payment and performance in full by Retailer of all amounts invoiced for the Products and all other obligations of Retailer to Sprint. This Agreement constitutes a security agreement under the Uniform Commercial Code (the “UCC”).
SECURITY INTEREST GRANTED. Licensee hereby grants a money purchase security interest in and assigns to the Licensor the collateral described in Section 6.1.4 above to secure payment and performance of this Agreement. Licensee will sign and execute any financing statement or other document or procure any document and pay all connected costs necessary to protect the security interest of Licensee against the rights and interests of a third party. This security interest will be removed after has been paid in full, the amount of which is stipulated in Section 6.1.3 above.
SECURITY INTEREST GRANTED. This Agreement is intended to be a security agreement pursuant to the UCC for each of the items specified herein as constituting the Collateral of the Grantor. The Grantor hereby grants to the Secured Parties a security interest in said items. The Grantor agrees, as from time to time reasonably requested in writing by the Secured Parties, to execute and file financing statements, as well as extensions, renewals and amendments thereof, and reproductions of this 121 Agreement, and do whatever may be necessary under the applicable UCC in the appropriate state to perfect and continue the Secured Parties' security interest in the Collateral of the Grantor, all at the expense of the Grantor. The Parties agree that such financing statements will be filed in the name of the Secured Parties. The Grantor shall pay all costs of filing such financing statements covering any of its Collateral and any extensions, renewals, amendments and releases thereof, and shall pay all reasonable costs and expenses of any record searches for financing statements reasonably requested by the Secured Parties. Without the prior written consent of the Secured Parties, Grantor shall not create or allow to be created, pursuant to the UCC, any other security interest in its Collateral (except for Permitted Liens) senior in priority to that of the Secured Parties. Upon the occurrence and during the continuation of a Default, the Secured Parties shall have the remedies of a secured party under the UCC and, at the Secured Parties' option, may also invoke any other remedy provided for in this Agreement. In exercising any of said remedies, the Secured Parties may, at their sole option, utilize an agent and may proceed against any part of the Collateral separately or together and in any order whatsoever, without in any way affecting the availability of the Secured Parties' remedies under the UCC.
SECURITY INTEREST GRANTED. AccuMed shall have a continuing security interest in all Products and proceeds thereof, wherever situated, for which payment has not been made and received. SinoFresh shall, from time to time, execute such documents as may be reasonably requested by AccuMed to perfect such security interests. In the event of a default in payment within the time periods specified in Section 1.5 herein, SinoFresh agrees that upon notice and demand by AccuMed, it shall set aside, protect, assemble and deliver to AccuMed all Products or proceeds thereof then in the possession of SinoFresh or subsequently received and that AccuMed shall have the right, and is hereby granted a license to sell and liquidate such inventory of Products and apply the proceeds thereof against all sums then due and receivable from SinoFresh. Any sums so received shall be applied in the following priority:
A. To expense of collection, delivery, enforcement and sale, including reasonable attorneys' fees and costs of suit; B. To interest thereupon accrued on all unpaid principal; C. To principal then due and payable until paid in full; and D. Thereafter, any excess shall be remitted to SinoFresh.
SECURITY INTEREST GRANTED. DEBTOR hereby pledges, assigns, consigns, transfers, sets over and grants to SECURED PARTY a security interest in the COLLATERAL hereinafter described to secure the payment and/or performance of all OBLIGATIONS, as hereinafter defined, of DEBTOR to SECURED PARTY.
SECURITY INTEREST GRANTED. If the purchase provides for payments on credit, OAR grants Sprint a security interest in the Sprint Products purchased from Sprint by OAR, whether now owned or hereafter acquired, and any proceeds there from to secure payment and performance in full by OAR of all amounts invoiced for the Sprint Products. This Agreement constitutes a security agreement under the Uniform Commercial Code (the “UCC”).
SECURITY INTEREST GRANTED. No Defense or Set-Off; Unconditional Obligation. Section 4.5. Assignment of Issuer's Rights.
SECURITY INTEREST GRANTED. The Borrower hereby grants to the Lender a continuing security interest in all property of the Borrower now or hereafter in the possession of the Lender or any of its affiliates in any capacity whatsoever, as security for the payment of this Note and other liabilities of the Borrower to the Lender, which security interest shall be enforceable and subject to all the provisions of this Note, as if such property were specifically pledged hereunder and the proceeds of such property may be applied at any time and without notice to any of the Borrower’s liabilities.
SECURITY INTEREST GRANTED. This Note is the Installment Note --------------------------- referred to in the Loan Agreement, and, therefore is secured by the collateral (the "Collateral") described therein, and otherwise governed thereby. All of the agreements, conditions, covenants, provisions, and stipulations contained in the Loan Agreement and which are to be kept and performed by Maker are hereby made a part of this Note to the same extent and with the same force and effect as if they were fully set forth herein, and Maker covenants and agrees to keep and perform them, or cause them to be kept and performed, strictly in accordance with their terms.
SECURITY INTEREST GRANTED. To secure the prompt payment of the Loan and the performance by the Borrower of its other obligations hereunder, the Borrower, to the full extent permitted by law, hereby pledges to the Issuer and hereby grants to the Issuer a purchase money Security Interest in and agrees and acknowledges that the Issuer shall have and shall continue to have a Security Interest in the Project provided, that at any time when the Borrower is not in default in the performance of any term, condition or covenant hereof, if the Borrower in its discretion determines that any items of Project machinery or equipment have become inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary, the Borrower may remove and dispose of such items of machinery or equipment from the Project and sell, trade in, exchange or otherwise dispose of them (as a whole or in party) without any responsibility or accountability to the Issuer or the Trustee therefore, and free of the security interest granted herein, if the Borrower:
(a) Substitutes and installs other machinery or equipment having equal or greater value and utility (but not necessarily having the same function) in the operation of the project for its intended purpose (provided such removal and substitution shall not impair operating unity), all of which substituted machinery or equipment shall be free of all liens and encumbrances and shall become a part of the Project and shall be subject to the Security Interest granted to the issuer herein; or
(b) Pays over to the Trustee for deposit by the Trustee to the Redemption Account, (i) in the case of the trade-in of such machinery or equipment for other machinery or equipment not deemed a part of the Project, the amount of the credit received by it in such trade-in and (ii) in the case of any disposition other than as provided in clause (b)(i) an amount equal to the original cost thereof less depreciation at rates calculated in accordance with generally accepted accounting practices consistently followed by the Borrower; or
(c) In the event that the Borrower has acquired and installed, prior to such removal and disposal of an item of machinery or equipment from the Project other than under preceding subsection (a) of this Section, an additional item or items of machinery or equipment with its own funds, free of all liens and encumbrances, which have become part of the Project, and are subject to the Security Interest or Mortgage granted herein, the Borrower may take credit to the e...
