Common use of Security Interest in Deposit Account Collateral Clause in Contracts

Security Interest in Deposit Account Collateral. (a) The Borrower hereby assigns and pledges to Lender, and hereby grants to Lender, as additional security for the Obligations, a first priority security interest in and to all right, title and interest of the Borrower in and to all of the following, in each case, whether now owned or hereafter acquired by the Borrower, wherever located, and whether now or hereafter existing or arising (collectively, the “Deposit Account Collateral”): (i) the Accounts (as defined in the Uniform Commercial Code), all Financial Assets (as defined in the Uniform Commercial Code) from time to time credited to the Deposit Account (including, without limitations, all cash equivalents), all funds held therein and all claims Borrower has with respect to such funds, and all certificates and instruments, if any, from time to time representing or evidencing the Accounts and assets of such accounts; (ii) all Permitted Investments from time to time and all certificates and instruments, if any, from time to time representing or evidencing the Permitted Investments; (iii) all notes, securities (including any Securities (as defined in the Uniform Commercial Code)), instruments, certificates of deposit, deposit accounts and investments from time to time hereafter delivered to or otherwise possessed by the Depository for the benefit of Lender or LaSalle Bank, National Association for the benefit of the Borrower in substitution for or in addition to any or all of the then existing Deposit Account Collateral; (iv) all interests, dividends, cash, Securities, Instruments (each, as defined in the Uniform Commercial Code) and other property from time to time received, receivable or otherwise distributed or distributable in respect of or in exchange for any or all of the then existing Deposit Account Collateral; (v) all earnings and investments held in any account for the Borrower in accordance with the Deposit Account Agreement or hereunder or otherwise; and (vi) all proceeds (including without limitation, cash proceeds) of any and all of the foregoing, including without limitation proceeds that constitute property of the types described in clause (i) above. This Agreement and the pledge, assignment and grant of security interest made hereby shall secure payment of all Obligations payable by the Borrower to Lender under the Note, the Guaranty and the other Loan Documents. The Borrower acknowledges that the Depository is acting as the agent of, and at the direction of, Lender in connection with the subject matter of this Agreement. (b) The Borrower agrees to promptly execute, acknowledge, deliver, file or do, at its sole cost and expense, all acts, assignments, notices, agreements or other instruments as Lender may reasonably require in order to effectuate, assure, convey, secure, assign, transfer and convey unto Lender any of the rights granted by this Agreement and to more fully perfect and protect any assignment, pledge, lien and security interest confirmed or purported to be created hereby, or to enable Lender to exercise and enforce its rights and remedies hereunder, in respect of the Deposit Account Collateral. If Borrower fails, after the giving of required notices, if any, and the expiration of applicable grace periods, if any, to perform any agreement or obligation contained herein, Lender may perform or cause the performance of such agreement or obligation, and the reasonable expenses of Lender incurred in connection therewith shall be payable to Lender by the Borrower. (c) Nothing contained herein shall impair or otherwise limit the Borrower’s obligation to timely make the payments (including, without limitation, interest and principal) required by the Note, the Guaranty and the other Loan Documents, it being understood that such payments shall be so timely made in accordance with the Loan Documents, regardless of the amounts on deposit in the Deposit Account. (d) The Borrower irrevocably instructs and authorizes the Depository to take from time to time the actions specified in any instructions received from Lender, and to exercise the obligations imposed on the Depository hereunder without seeking any further consent from Borrower.

Security Interest in Deposit Account Collateral. (a) The Borrower hereby assigns and pledges to Lender, and hereby grants to Lender, as additional security for the Obligations, a first priority security interest in and to all right, title and interest of the Borrower in and to all of the following, in each case, whether now owned or hereafter acquired by the Borrower, wherever located, and whether now or hereafter existing or arising (collectively, the “Deposit Account Collateral”): (i) the Accounts (as defined in the Uniform Commercial Code), all Financial Assets (as defined in the Uniform Commercial Code) from time to time credited to the Deposit Account (including, without limitations, all cash equivalents), all funds held therein and all claims Borrower has with respect to such funds, and all certificates and instruments, if any, from time to time representing or evidencing the Accounts and assets of such accounts; (ii) all Permitted Investments from time to time and all certificates and instruments, if any, from time to time representing or evidencing the Permitted Investments; (iii) all notes, securities (including any Securities (as defined in the Uniform Commercial Code)), instruments, certificates of deposit, deposit accounts and investments from time to time hereafter delivered to or otherwise possessed by the Depository for the benefit of Lender or LaSalle Bank, Bank National Association for the benefit of the Borrower in substitution for or in addition to any or all of the then existing Deposit Account Collateral; (iv) all interests, dividends, cash, Securities, Instruments (each, as defined in the Uniform Commercial Code) and other property from time to time received, receivable or otherwise distributed or distributable in respect of or in exchange for any or all of the then existing Deposit Account Collateral; (v) all earnings and investments held in any account for the Borrower in accordance with the Deposit Account Agreement or hereunder or otherwise; and (vi) all proceeds (including without limitation, cash proceeds) of any and all of the foregoing, including without limitation proceeds that constitute property of the types described in clause (i) above. This Agreement and the pledge, assignment and grant of security interest made hereby shall secure payment of all Obligations payable by the Borrower to Lender under the Note, the Guaranty and the other Loan Documents. The Borrower acknowledges that the Depository is acting as the agent of, and at the direction of, Lender in connection with the subject matter of this Agreement. (b) The Borrower agrees to promptly execute, acknowledge, deliver, file or do, at its sole cost and expense, all acts, assignments, notices, agreements or other instruments as Lender may reasonably require in order to effectuate, assure, convey, secure, assign, transfer and convey unto Lender any of the rights granted by this Agreement and to more fully perfect and protect any assignment, pledge, lien and security interest confirmed or purported to be created hereby, or to enable Lender to exercise and enforce its rights and remedies hereunder, in respect of the Deposit Account Collateral. If Borrower fails, after the giving of required notices, if any, and the expiration of applicable grace periods, if any, to perform any agreement or obligation contained herein, Lender may perform or cause the performance of such agreement or obligation, and the reasonable expenses of Lender incurred in connection therewith shall be payable to Lender by the Borrower. (c) Nothing contained herein shall impair or otherwise limit the Borrower’s obligation to timely make the payments (including, without limitation, interest and principal) required by the Note, the Guaranty and the other Loan Documents, it being understood that such payments shall be so timely made in accordance with the Loan Documents, regardless of the amounts on deposit in the Deposit Account. (d) The Borrower irrevocably instructs and authorizes the Depository to take from time to time the actions specified in any instructions received from Lender, and to exercise the obligations imposed on the Depository hereunder without seeking any further consent from Borrower.

Security Interest in Deposit Account Collateral. (a) The Borrower hereby assigns and pledges to Lender, and hereby grants to Lender, as additional security for the Obligations, a first priority security interest in and to all right, title and interest of the Borrower in and to all of the following, in each case, whether now owned or hereafter acquired by the Borrower, wherever located, and whether now or hereafter existing or arising (collectively, the “"Deposit Account Collateral”"): (i) the Accounts (as defined in the Uniform Commercial Code)Accounts, all Financial Assets (as defined in the Uniform Commercial CodeLockbox Agreement) from time to time credited to the Deposit Account Accounts (including, without limitations, all cash equivalents), all funds held therein and all claims Borrower has with respect to such fundstherein, and all certificates and instruments, if any, from time to time representing or evidencing the Accounts and assets of such accountsthe Accounts; (ii) all Permitted Investments from time to time and all certificates and instruments, if any, from time to time representing or evidencing the Permitted Investments; (iii) all notes, securities (including any Securities (as defined in the Uniform Commercial Code)Securities), instruments, certificates of deposit, deposit accounts amounts and other investments from time to time hereafter delivered to or otherwise possessed by the Depository for the benefit of Lender or LaSalle Bank, National Association for the benefit of the Borrower in substitution for or in addition to any or all of the then existing Deposit Account Collateral; (iv) all interests, dividends, cash, Securities, Instruments (each, as defined in the Uniform Commercial CodeLockbox Agreement) and other property from time to time received, receivable or otherwise distributed or distributable in respect of or in exchange for any or all of the then existing Deposit Account Collateral; (v) all earnings and investments held in any account for the Borrower Account in accordance with the Deposit Account Lockbox Agreement or hereunder or otherwisehereunder; and (vi) all proceeds (including without limitation, cash proceeds) of any and all of the foregoing, including without limitation proceeds that constitute property of the types described in clause (i) above. This Agreement and the pledge, assignment and grant of security interest made hereby shall secure payment of all Obligations payable by the Borrower to Lender under the Note, the Guaranty Note and the other Loan Documents. The Borrower acknowledges that the Servicer and the Depository is are acting as the agent of, and at the direction of, Lender in connection with the subject matter of this Agreement. This Agreement shall be deemed a security agreement within the meaning of the Uniform Commercial Code. (b) The Borrower agrees to promptly execute, acknowledge, deliver, file or do, at its sole cost and expense, all acts, assignments, notices, agreements or other instruments as Lender may reasonably require in order to effectuate, assure, convey, secure, assign, transfer and convey unto Lender any of the rights granted by this Agreement and to more fully perfect and protect any assignment, pledge, lien and security interest confirmed or purported to be created hereby, or to enable Lender to exercise and enforce its rights and remedies hereunder, in respect of the Deposit Account Collateral. If Borrower fails, after the giving of required notices, if any, and the expiration of applicable grace periods, if any, to perform any agreement or obligation contained herein, Lender may perform or cause the performance of such agreement or obligation, and the reasonable expenses of Lender incurred in connection therewith shall be payable to Lender by the Borrower. (c) Nothing contained herein shall impair or otherwise limit the Borrower’s 's obligation to timely make the payments (including, without limitation, interest and principal) required by the Note, the Guaranty Note and the other Loan Documents, it being understood that such payments shall be so timely made in accordance with the Loan Documents, regardless of the amounts on deposit in the Deposit AccountAccounts. (d) The Borrower irrevocably instructs and authorizes the Depository to take from time to time the actions specified in any instructions received from Lender, and to exercise the obligations imposed on the Depository hereunder without seeking any further consent from Borrowerhereunder.