SECURITY INTEREST; REMEDIES Sample Clauses

SECURITY INTEREST; REMEDIES. Lessor and Lessee agree that this Lease Schedule constitutes a lease intended as security within the meaning of Article 9 of the Uniform Commercial Code ("UCC") as adopted by Massachusetts. Accordingly, Lessee hereby assigns and grants to Lessor a lien, claim and continuing security interest in the Equipment, additions, replacements and proceeds thereof including, without limitation, proceeds of all insurance policies. Such lien, claim and continuing security interest shall secure the payment and performance of all obligations of Lessee to Lessor under this Lease Schedule as well as all other obligations and indebtedness of Lessee to Lessor, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising. In connection with the foregoing, Lessor shall hold legal title to, but not beneficial ownership of, the Equipment as additional security for the obligations of Lessee under this Lease Schedule. Any reference in the Master Agreement to "title" to the Equipment as held by Lessor shall mean, for purposes of this Lease Schedule, legal title. Upon the occurrence of an Event of Default, without limiting any of the rights of Lessor under Section 12 of the Master Agreement, Lessor may pursue the rights and remedies of a secured party under the UCC of Massachusetts or any other jurisdiction, and recover such other actual damages as may be incurred by Lessor. In addition, Lessor may sell, lease or otherwise dispose of any or all of the Equipment, whether or not in the possession of Lessor, at public or private sale and with or without notice to Lessee, which notice is hereby expressly waived by Lessee, to the extent permitted by, and not inconsistent with, applicable law.
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SECURITY INTEREST; REMEDIES. You hereby xxxxx Xxxxxxxxxx Correspondent Services a first priority perfected security interest in all of your right, title, and interest in the Collateral Account, all cash, securities, financial assets, investment property, or other assets from time to time held in or credited to the Collateral Account and all other assets now or hereafter in the possession of Xxxxxxxxxx Correspondent Services and all income or profits thereon, and all dividends and other payments with respect to and all proceeds of the foregoing (the "Collateral") as security for the repayment of all your obligations and liabilities to Xxxxxxxxxx Correspondent Services, whether now outstanding or hereafter arising or incurred, including but not limited to the indemnification obligations under Section 11 hereof, the clearing fees and the Minimum Monthly Fee and any other amounts owed by you to Xxxxxxxxxx Correspondent Services. Upon the occurrence of an Event of Default (as defined below), Xxxxxxxxxx Correspondent Services may, without further notice to you, offset any and all liabilities, costs, or expenses (whether mature or contingent, liquidated or unliquidated and regardless of the currency in which denominated) due to it from you, against any and all liabilities, costs, or expenses (whether fixed, assured or contingent, liquidated or unliquidated, and regardless of the currency in which denominated) due you from it.
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SECURITY INTEREST; REMEDIES. 7 3.1 Grant of Security Interest; Dominion and Control................... 7 3.2
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SECURITY INTEREST; REMEDIES 
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Related to SECURITY INTEREST; REMEDIES

  • UCC Remedies (a) Upon the occurrence of and during the continuance of an Event of Default under this Agreement or the other Financing Documents, Agent, in addition to all other rights, options, and remedies granted to Agent under this Agreement or at law or in equity, may exercise, either directly or through one or more assignees or designees, all rights and remedies granted to it under all Financing Documents and under the UCC in effect in the applicable jurisdiction(s) and under any other applicable law; including, without limitation:

  • Rights and Remedies of the Collateral Agent (a) In addition to the rights and remedies specified in Section 4.4 hereof or otherwise available at law or in equity, after an event of default hereunder, the Collateral Agent shall have all of the rights and remedies with respect to the Collateral of a secured party under the Uniform Commercial Code (or any successor thereto) as in effect in the State of New York from time to time (the "Code") (whether or not the Code is in effect in the jurisdiction where the rights and remedies are asserted) and the TRADES Regulations and such additional rights and remedies to which a secured party is entitled under the laws in effect in any jurisdiction where any rights and remedies hereunder may be asserted. Wherever reference is made in this Agreement to any section of the Code, such reference shall be deemed to include a reference to any provision of the Code which is a successor to, or amendment of, such section. Without limiting the generality of the foregoing, such remedies may include, to the extent permitted by applicable law, (i) retention of the Pledged Debt Securities or other Collateral in full satisfaction of the Holders' obligations under the Purchase Contracts or (ii) sale of the Pledged Debt Securities or other Collateral in one or more public or private sales and application of the proceeds in full satisfaction of the Holders' obligations under the Purchase Contracts.

  • Security Interest Matters This Receivables Purchase Agreement creates a valid and continuing “security interest” (as defined in the Relevant UCC) in the Receivables in favor of the Depositor, which security interest is prior to all other Liens and is enforceable as such against creditors of and purchasers from the Seller. The Receivables constitute “tangible chattel paper” (as defined in the Relevant UCC). The Seller has caused or will cause prior to the Closing Date the filing of all appropriate financing statements in the proper filing offices in the appropriate jurisdictions under applicable law necessary to perfect the security interest in the Receivables granted to the Depositor under this Receivables Purchase Agreement. Other than the security interest granted to the Depositor under this Receivables Purchase Agreement, the Seller has not pledged, assigned, sold, granted a security interest in or otherwise conveyed any of the Receivables (except for security interests that will be released contemporaneously with the transfer of the Receivables from the Seller to the Purchaser). The Seller has not authorized the filing of, and is not aware of any financing statements against the Seller that include a description of, collateral covering the Receivables other than any financing statement relating to the security interest granted to the Depositor under this Receivables Purchase Agreement or that has been terminated. The motor vehicle retail installment sale contracts that constitute or evidence the Receivables do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than the Depositor, the Issuer or the Indenture Trustee. The Seller is not aware of any material judgment or tax lien filings against the Seller.

  • Enforcement; Remedies (a) Except as otherwise expressly provided herein, any and all remedies herein expressly conferred upon a Party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by Law or equity upon such Party, and the exercise by a Party of any one remedy will not preclude the exercise of any other remedy.

  • Security Interest in the Collateral To secure the prompt payment and performance to Agent and each Lender of the Obligations, each Borrower hereby assigns, pledges and grants to Agent for its benefit and for the ratable benefit of each Lender a continuing security interest in and to and Lien on all of its Collateral, whether now owned or existing or hereafter acquired or arising and wheresoever located. Each Borrower shall xxxx its books and records as may be necessary or appropriate to evidence, protect and perfect Agent’s security interest and shall cause its financial statements to reflect such security interest. Each Borrower shall promptly provide Agent with written notice of all commercial tort claims, such notice to contain the case title together with the applicable court and a brief description of the claim(s). Upon delivery of each such notice, such Borrower shall be deemed to hereby grant to Agent a security interest and lien in and to such commercial tort claims and all proceeds thereof.

  • Default Rights and Remedies If an Event of Default exists, the Agent shall have the following rights and remedies:

  • Security Interest in Collateral The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral.

  • Security Interest and Collateral In order to secure the payment and performance of the Secured Obligations, the Debtor hereby grants to the Secured Party a security interest (herein called the “Security Interest”) in and to the following property (hereinafter collectively referred to as the “Collateral”): SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY THIS REFERENCE.

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