Security Interest/Waiver of Automatic Stay. This Note is secured by a security interest granted to the Collateral Agent for the benefit of the Holder pursuant to a Security Agreement, as delivered by Borrower to Holder. The Borrower acknowledges and agrees that should a proceeding under any bankruptcy or insolvency law be commenced by or against the Borrower, or if any of the Collateral (as defined in the Security Agreement) should become the subject of any bankruptcy or insolvency proceeding, then the Holder should be entitled to, among other relief to which the Holder may be entitled under the Transaction Documents and any other agreement to which the Borrower and Holder are parties (collectively, "Loan Documents") and/or applicable law, an order from the court granting immediate relief from the automatic stay pursuant to 11 U.S.C. Section 362 to permit the Holder to exercise all of its rights and remedies pursuant to the Loan Documents and/or applicable law. THE BORROWER EXPRESSLY WAIVES THE BENEFIT OF THE AUTOMATIC STAY IMPOSED BY 11 U.S.C. SECTION 362. FURTHERMORE, THE BORROWER EXPRESSLY ACKNOWLEDGES AND AGREES THAT NEITHER 11 U.S.C. SECTION 362 NOR ANY OTHER SECTION OF THE BANKRUPTCY CODE OR OTHER STATUTE OR RULE (INCLUDING, WITHOUT LIMITATION, 11 U.S.C. SECTION 105) SHALL STAY, INTERDICT, CONDITION, REDUCE OR INHIBIT IN ANY WAY THE ABILITY OF THE HOLDER TO ENFORCE ANY OF ITS RIGHTS AND REMEDIES UNDER THE LOAN DOCUMENTS AND/OR APPLICABLE LAW. The Borrower hereby consents to any motion for relief from stay that may be filed by the Holder in any bankruptcy or insolvency proceeding initiated by or against the Borrower and, further, agrees not to file any opposition to any motion for relief from stay filed by the Holder. The Borrower represents, acknowledges and agrees that this provision is a specific and material aspect of the Loan Documents, and that the Holder would not agree to the terms of the Loan Documents if this waiver were not a part of this Note. The Borrower further represents, acknowledges and agrees that this waiver is knowingly, intelligently and voluntarily made, that neither the Holder nor any person acting on behalf of the Holder has made any representations to induce this waiver, that the Borrower has been represented (or has had the opportunity to he represented) in the signing of this Note and the Loan Documents and in the making of this waiver by independent legal counsel selected by the Borrower and that the Borrower has discussed this waiver with counsel.
Security Interest/Waiver of Automatic Stay. This Note is secured by a security interest granted to the Collateral Agent for the benefit of the Holder pursuant to a Security Agreement, as delivered by Borrower to Holder. The Borrower acknowledges and agrees that should a proceeding under any bankruptcy or insolvency law be commenced by or against the Borrower, or if any of the Collateral (as defined in the Security Agreement) should become the subject of any bankruptcy or insolvency proceeding, then the Holder should be entitled to, among other relief to which the Holder may be entitled under the Transaction Documents and any other agreement to which the Borrower and Holder are parties (collectively, "Loan Documents") and/or applicable law, an order from the court granting immediate relief from the automatic stay pursuant to 11 U.S.
Security Interest/Waiver of Automatic Stay. This Note is secured by a first priority security interest granted to the Collateral Agent for the benefit of the Holder pursuant to a Security Agreement, as delivered by Borrower to Holder.
Security Interest/Waiver of Automatic Stay. This Note is secured by a security interest granted to the Collateral Agent for the benefit of the Holder pursuant to a Security Agreement, as delivered by Borrower to Holder dated as of February 16, 2006.
Security Interest/Waiver of Automatic Stay. This Note is secured by a ------------------------------------------- security interest granted to the Collateral Agent for the benefit of the Holder pursuant to the Security Agreement, as delivered by Borrower to Holder. The Borrower acknowledges and agrees that should a proceeding under any bankruptcy or insolvency law be commenced by or against the Borrower, or if any of the Collateral (as defined in the Security Agreement) should become the subject of any bankruptcy or insolvency proceeding, then the Holder should be entitled to, among other relief to which the Holder may be entitled under the Note, Security Agreement, Subscription Agreement and any other agreement to which the Borrower and Holder are parties (collectively, "Loan Documents") and/or applicable law, an order from the court granting immediate relief from the automatic stay pursuant to 11 U.S.
Security Interest/Waiver of Automatic Stay. This Note is secured by a security interest granted to the Holder pursuant to the Security Agreement. The Borrower acknowledges and agrees that should a proceeding under any bankruptcy or insolvency law be commenced by or against the Borrower, or if any of the Collateral (as defined in the Security Agreement) should become the subject of any bankruptcy or insolvency proceeding, then the Holder should be entitled to, among other relief to which the Holder may be entitled under this Note, the Security Agreement and/or the Letter Agreement (collectively, "Loan Documents") and/or applicable law, an order from the court granting immediate relief from the automatic stay pursuant to 11 U.S.C. Section 362 to permit the Holder to exercise all of its rights and remedies pursuant to the Loan Documents and/or applicable law.
Security Interest/Waiver of Automatic Stay. This Note is, as of the date hereof, secured by a security interest granted on behalf of the Holder to the Collateral Agent pursuant to that certain Security Agreement dated October __, 2001 (the "Security Agreement"), as delivered by Borrower to Holder. The Borrower acknowledges and agrees that should a proceeding under any bankruptcy or insolvency law be commenced by or against the Borrower, or if any of the Collateral (as defined in the Security Agreement) should become the subject of any bankruptcy or insolvency proceeding, then the Holder should be entitled to, among other relief to which the Holder may be entitled under the Note, Security Agreement, Subscription Agreement and any other agreement to which the Borrower and Holder are parties (collectively, "Loan Documents") and/or applicable law, an order from the court granting immediate relief from the automatic stay pursuant to 11 U.S.
Security Interest/Waiver of Automatic Stay a) As collateral security for the full repayment or conversion of the outstanding principal, accrued interest and any other sums payable in connection herewith, this Note is secured by security interests granted to the Holder pursuant to the Security Agreements, as delivered by Borrower to Holder, as follows (the “Security Interests”): (i) a first ranking security interest by way of a floating charge in all of the Borrower’s right, title, and interest in and to the collateral set forth in the Security Agreement (Floating Charge), and (ii) a first ranking security interest by way of a fixed charge in all of the Borrower’s right, title, and interest in and to the collateral set forth in the Security Agreement (Fixed Charge) (the collateral set forth in (i) and (ii) above, collectively, the “Collateral”).
b) The Borrower hereby undertakes to the Holder:
(i) to take all action required to execute, file and deliver all necessary documents and applications to perfect and record the registration of the Collateral on the initial Closing Date, and, to the extent the Holder is participating in a Closing subsequent to the initial Closing, to perfect and record amendments to such registration in accordance with the Security Agreements on the Closing Date of such Closing in order to record the Holder as an additional beneficiary of the Collateral, in each case by no later than twenty-one (21) days after the applicable date, with the Israel Registrar of Companies, the Israel Patent Office, the United States Patent and Trademark Office and the European Patent Office or in any relevant jurisdiction, as applicable, including without limitation the Security Agreements annexed hereto as Exhibit C, and the applicable filings annexed hereto as Exhibit C-1, and to provide the Holder with evidence of said registration; and
(ii) to the extent the Holder is participating in the initial Closing, to provide such Holder, on or prior to the initial Closing Date, with any necessary termination agreements or notices required to be filed with the applicable governmental authorities for the removal of any and all outstanding security interests on the Borrower’s assets, including, without limitation, with respect to those certain security interests on the Borrower’s assets held by Exigent, and if applicable, Xxxxxx Xxxxxxxxx and Xxxxxx Xxx.
c) Upon conversion and repayment of all amounts due under the Notes, the monetary obligations of the Borrower towards the Holder hereunder with respect...
Security Interest/Waiver of Automatic Stay. This Note is secured -------------------------------------------- by a security interest granted to the Collateral Agent for the benefit of the Holder pursuant to a Security Agreement, as delivered by Borrower to Holder.
Security Interest/Waiver of Automatic Stay. This Note is secured by a security interest granted to the Holder pursuant to a Security Agreement, as delivered by Borrower to Holder on November 14,
