Security Interest in Personal Property. 19.1 If any personal property collateral is detailed in the disclosure statement then you must do the following things:
a. store all goods that are part of the collateral at the address of the owner shown in the disclosure statement;
b. care for and maintain the collateral;
c. repair any damage to the collateral;
d. replace with other goods of a similar nature and value any of the goods that may be destroyed or lost or may cease to exist;
e. the security interest granted by this agreement includes a security interest over all goods acquired by you under clause 19.1 d.;
f. comply with all laws relating to its ownership and use;
g. allow us to inspect any collateral at the address of the owner shown in the disclosure statement provided we first give you 24 hours written notice; and you must not do any of the following things:
h. anything that could adversely affect your rights of ownership in the collateral;
i. dispose of the collateral by way of sale, or gift or lease;
j. allow someone else to have possession of the collateral;
k. destroy, damage, endanger or disassemble the collateral;
l. conceal or hide the collateral from us;
x. xxxxx any other security of the collateral or allow any lien to be created over it;
n. take the collateral out of New Zealand; and
o. use the collateral for any dangerous or illegal activity or for any purpose for which it was not intended.
19.2 If any collateral is a motor vehicle then, in addition to the above, you must:
a. not use it in any race or competitive activity;
b. not obtain any personalised registration plate or remove or alter any serial number without our prior written permission.
19.3 If you install or fix anything to any collateral then that thing becomes part of the collateral and subject to the security interest.
19.4 We have the right to take possession of any collateral if this is required to enable us to perfect our security interest.
19.5 If any collateral has been acquired for business purposes, the Consumer Xxxxxxxxxx Xxx 0000 does not apply.
19.6 You waive your right to receive a verification statement following registration of any security interest.
19.7 We may, at all reasonable times, either personally or by agents, enter upon your premises to inspect the collateral.
19.8 If you fail to do anything that you agree to do under this agreement then we may, but are not required to, do that covenanted act or thing.
19.9 If we incur any cost or make a payment as a result of our actions under clause 19.8, tha...
Security Interest in Personal Property. 2.2.1 This Mortgage shall constitute a security agreement and shall create and evidence a security interest or common law Lien in all the Equipment and in all the other items of Mortgaged Property in which a security interest may be granted or a common law pledge created pursuant to the UCC or under the common law in such state (collectively, "Personal Property").
2.2.2 Upon the occurrence and during the continuation of any Event of Default, in addition to the remedies set forth in Article III, Mortgagee shall have the power to sell the Personal Property in accordance with the UCC or under other applicable law. It shall not be necessary that any Personal Property offered be physically present at any such sale or constructively in the possession of Mortgagee or the person conducting the sale.
2.2.3 Upon the occurrence and during the continuance of any Event of Default, Mortgagee may sell the Personal Property or any part thereof at public or private sale with notice to Mortgagor as hereinafter provided. The Proceeds of any such sale, after deducting all expenses of Mortgagee in taking, storing, repairing and selling the Personal Property (including, without limitation, attorneys' fees) shall be applied in the manner set forth in subsection 3.2.
Security Interest in Personal Property. To secure the prompt payment to Lender of the Indebtedness, including but not limited to the Revolving Line of Credit Loan, the Term Loan, the Merchant Loan, and the Guaranty, together with all costs, expenses and fees payable by Borrower Group hereunder, Borrower Group hereby grants to Lender a continuing security interest in and to all of the following property and interests in property of Borrower Group, whether now owned or existing, hereafter acquired or arising, or in which Borrower Group now or hereafter has any rights, and wheresoever located:
(a) Accounts;
(b) Inventory;
(c) General Intangibles;
(d) Contract rights, chattel paper, instruments and documents;
(e) Investment properties, securities and securities accounts;
(f) Furniture, Fixtures, and Equipment;
(g) All monies, residues and property of any kind of Borrower Group now or at any time hereafter in the possession or under the control of Lender or a bailee of Lender;
(h) All accessions to, substitutions for and all replacements, products and proceeds of the foregoing, including, without limitation, proceeds of insurance policies insuring the aforesaid collateral and documents covering the aforesaid collateral, all property received wholly or partly in trade or exchange for such collateral, and all rents, revenues, issues, profits and proceeds arising from the sale, lease, license, encumbrance, collection or any other temporary or permanent disposition of such items or any interest therein whether or not they constitute “proceeds” as defined in the Uniform Commercial Code; and
(i) All books, records, documents and ledger receipts of Borrower Group pertaining to any of the foregoing, including, without limitation, customer lists, credit files, computer records, computer programs, storage media and computer software used or acquired in connection with generating, processing and storing such books and records or otherwise used or acquired in connection with documenting information pertaining to the aforesaid collateral.
Security Interest in Personal Property. Except with respect to Mortgage Loans set forth on Exhibit 20, the Mortgage Loan Documents create and the Seller has, and upon transfer of the Mortgage Loan Documents to the Purchaser and the recordation of the Assignments of Mortgage, the Purchaser will have, a first lien priority perfected security interest in all furniture, fixtures, and equipment subject to the lien of the Mortgage and related to the operation of the Mortgaged Property as a multifamily dwelling or commercial property and condemnation and casualty proceeds relating to the Mortgaged Property, subject only, if applicable, to a third party's interest in leased items of personalty.
Security Interest in Personal Property. 2.2.1 This Mortgage shall constitute a security agreement and shall create and evidence a security interest or common law Lien in all the Equipment and in all the other items of Mortgaged Property in which a security interest may be granted or a common law pledge created pursuant to the Uniform Commercial Code as in effect in the state in which the Premises are located or under the common law in such state collectively, "Personal Property").
2.2.2 Upon the occurrence of any Event of Default, in addition to the remedies set forth in Article III, Mortgagee shall have the power to sell the Personal Property in accordance with the Uniform Commercial Code as enacted in the state in which the Premises are located or under other applicable law. It shall not be necessary that any Personal Property offered be physically present at any such sale or constructively in the possession of Mortgagee or the person conducting the sale.
2.2.3 Upon the occurrence and during the continuance of any Event of Default, Mortgagee may sell the Personal Property or any part thereof at public or private sale with notice to Mortgagor as hereinafter provided. The proceeds of any such sale, after deducting all expenses of Mortgagee in taking, storing, repairing and selling the Personal Property (including, without limitation, attorneys' fees and legal expenses), shall be applied in the manner set forth in subsection 3.3.
Security Interest in Personal Property. In addition to Landlord’s statutory lien, Tenant hereby grants to Landlord a UCC security interest upon all the furniture, furnishings, equipment and articles of personal property of every kind and nature whatsoever, now or hereafter located in or upon the Premises, whether now owned or hereafter acquired by Tenant as and for security for the payment by Tenant of Base Rent and Additional Rent and the performance by Tenant of the other obligations heretofore provided. Landlord may at any time after default in the payment of Base Rent and Additional Rent, or default of other obligations, seize and take possession of any and all personal property belonging to Tenant which may be found in and upon the Premises. Should Tenant fail to redeem the property so seized, by payment of whatever sum may be due Landlord under and by virtue of the provisions of this Lease, then and in that event, Landlord shall have the right, after ten (10) days’ written notice to Tenant of its intention to do so (which Tenant agrees constitutes reasonable notice), to sell such property so seized at public or private sale and upon such terms and conditions as to Landlord may appear advantageous, and after the payment of all proper charges incident to such sale, apply the proceeds thereof to the payment of any balance due on account of Rent or other Tenant obligations. In the event there shall then remain any balance realized from the sale of said property, that balance shall be paid over to Tenant. The Tenant hereby acknowledges, agrees and authorizes the Landlord to record and file at Landlord’s expense, as Landlord deems necessary, all UCC-1 Financing Statements, including all modifications, continuances, and extensions thereof, in the applicable county and with the applicable states, including the State of Florida, to perfect and maintain its first security interest by virtue of the Lease even though the Tenant may not execute the applicable UCC-1 Financing Statements and/or UCC-3 Financing Statements.
Security Interest in Personal Property. 2.2.1 This Mortgage shall constitute a security agreement and shall create and evidence a security interest or common law Lien in all the Equipment and in all the other items of Mortgaged Property in which a security interest may be granted or a common law pledge created pursuant to the UCC or under the common law in such state (collectively, "Personal Property").
2.2.2 Upon the occurrence and during the continuation of any Event of Default, in addition to the remedies set forth in Article III, Mortgagee shall have the power to sell the Personal Property in accordance with the UCC or under other applicable law. It shall not be necessary that any Personal Property offered be physically present at any such sale or constructively in the possession of Mortgagee or the person conducting the sale.
Security Interest in Personal Property. LESSEE grants to LESSOR a security interest in all Lessee’s personal property and/or contents of the leased premises for the payment of the rent and/or damages of any kind. To enforce such security interest, LESSOR may take and keep possession of all such personal property of LESSOR and may advertise and sell such property at public auction to satisfy and debt, without any process of law and bar of any right of redemption, provided that notice be posted on premises and written notice be sent by certified mail to LESSEE and any known creditors claiming any interest in such property at least ten (10) days prior to the sale date. In furtherance of this provision, LESSEE shall execute a financial statement and pay the filing fee for filing said instrument in the place designated by law.
Security Interest in Personal Property. To secure the prompt payment and performance to Agent and Lenders of the Obligations, Borrower, pursuant to the Security Agreement and the other Security Documents, shall grant to Agent, for the benefit of Lenders, a first and prior continuing security interest in and Liens upon all of the Collateral, except for the portion of the Collateral which is REO Property, and expressly including, without limitation, all of the Borrower’s rights in the Cash Reserve Account, the Owner Collection Account, the Operating Account and the Services Agreement. At the time the Borrower forecloses upon any personal property securing payment of a Collateral Loan, upon Agent’s request, Borrower shall also execute a “Supplement to Security Agreement”, which “Supplement to Security Agreement” shall detail the specific assets being foreclosed upon. Borrower agrees to execute the UCC-1 Financing Statements provided for by the Code or otherwise together with any and all other instruments, assignments or documents and shall take such other action (including the filing of such UCC-1 Financing Statements and other documents with appropriate filing offices at the expense of Borrower) as may be required by Agent to perfect or to continue the perfection of Agent’s security interest in the Collateral. Unless prohibited by applicable law, Borrower hereby authorizes Agent to file any such Financing Statement on Borrower’s behalf without the signature of Borrower. The parties agree that, if permitted by applicable law, a photographic or other reproduction of this Agreement shall be sufficient as a financing statement and may be filed in any appropriate office in lieu thereof.
Security Interest in Personal Property. As continuing security for the Obligations, Mortgagor hereby pledges assigns and grants to the Bank a security interest in any of the Property (as defined in Section 1.4 below) constituting personal property or fixtures. This Mortgage shall be deemed to be a security agreement and financing statement pursuant to the terms of the Uniform Commercial Code of Massachusetts.
