Common use of Special Collateral Clause in Contracts

Special Collateral. Immediately upon receipt by Borrower of that portion of Collateral evidenced or secured by an agreement, letter of credit, instrument and/or document, including, without limitation, promissory note, documents of title and warehouse receipts ("Special Collateral"), Borrower shall mark xxx same to show that such Special Collateral is subject to a security interest in favor of Bank, and shall deliver the original thereof to Bank, together with appropriate endorsements, the documents required to draw thereunder (as may be relevant to letters of credit) and/or other specific evidence of assignment (in form and substance satisfactory to Bank).

Appears in 1 contract

Samples: Loan and Security Agreement (Sigmatron International Inc)

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Special Collateral. Immediately upon receipt by any Borrower of that portion of Collateral evidenced or secured by an agreement, letter of credit, instrument and/or document, including, without limitation, promissory note, documents of title and warehouse receipts ("Special Collateral"), each Borrower shall mark xxx same to show that such Special Collateral is subject to a security interest in favor of Bank, and shall deliver the original thereof to Bank, together with appropriate endorsements, the documents required to draw thereunder (as may be relevant to letters of credit) and/or other specific evidence of assignment (in form and substance satisfactory to Bank).

Appears in 1 contract

Samples: Loan and Security Agreement (Paul Harris Stores Inc)

Special Collateral. Immediately upon receipt by Borrower of that portion of Collateral evidenced or secured by an agreement, letter of credit, instrument and/or document, including, without limitation, promissory note, documents of title and warehouse receipts ("Special Collateral"), Borrower shall mark xxx xxxx the same to show that such Special Collateral is subject to a security interest in favor of Bank, and shall deliver the original thereof to Bank, together with appropriate endorsements, the documents required to draw thereunder (as may be relevant to letters of credit) and/or other specific evidence of assignment (in form and substance satisfactory to Bank).

Appears in 1 contract

Samples: Loan and Security Agreement (Prism Financial Corp)

Special Collateral. Immediately upon receipt by Borrower of that portion of Collateral evidenced or secured by an agreement, letter of credit, instrument and/or document, including, without limitation, promissory notenotes, documents of title and warehouse receipts ("Special Collateral"), Borrower shall mark xxx the same to show that such Special Collateral is subject to a security sexxxxty interest in favor of Bank, and shall deliver the original thereof to Bank, together with appropriate endorsements, the documents required to draw thereunder (as may be relevant to letters of credit) and/or other specific evidence of assignment (in form and substance satisfactory to Bank).

Appears in 1 contract

Samples: Loan and Security Agreement (Heartland Technology Inc)

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Special Collateral. Immediately upon the Borrower’s receipt by Borrower of that portion of Collateral the Collateral, if any, which is evidenced or secured by an agreement, letter of credit, instrument and/or document, including, without limitation, including promissory notenotes, documents of title title, certificated securities and warehouse receipts ("collectively the “Special Collateral"), Borrower shall mark xxx same to show that such Special Collateral is subject to a ”) for the purpose of perfecting the Bank’s security interest in favor of Banksuch Special Collateral, and the Borrower shall deliver the original thereof to the Bank, together with appropriate endorsements, the documents required to draw thereunder (as may be relevant to letters of credit) endorsements and/or other specific evidence of the assignment (thereof to the Bank, in form and substance satisfactory acceptable to the Bank).

Appears in 1 contract

Samples: Loan and Security Agreement (Ebix Inc)

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