Status of Security Interest. (a) Grantor shall maintain the security interest of the Lender hereunder in all Collateral as valid, perfected, first priority Liens (subject to Permitted Liens). (b) Notwithstanding the foregoing, Grantor shall not be required to take any action to perfect any Collateral to the extent that the Grantor, in consultation with the Lender, reasonably determines that the cost of obtaining a security interest in such Collateral exceeds the practical benefit thereof to the Lender.
Appears in 5 contracts
Samples: Pledge and Security Agreement, Pledge and Security Agreement (ServisFirst Bancshares, Inc.), Pledge and Security Agreement (Bank of Commerce Holdings)
Status of Security Interest. (a) Grantor shall maintain the security interest of the Lender hereunder in all Collateral as valid, perfected, first priority Liens (subject to Permitted Liens).
(b) Notwithstanding the foregoing, Grantor shall not be required to take any action to perfect any Collateral to the extent that the Grantor, in consultation with the Lender, reasonably determines that the cost of obtaining perfecting a security interest in such Collateral exceeds the practical benefit thereof to the Lender.
Appears in 1 contract
Samples: Pledge and Security Agreement (YADKIN FINANCIAL Corp)
Status of Security Interest. (a) Grantor shall maintain the security interest of the Lender hereunder in all Collateral as valid, perfected, first priority Liens (subject to Permitted Liens).
(b) Notwithstanding the foregoing, Grantor shall not be required to take any action to perfect any Collateral to the extent that the Grantor, in consultation with the Lender, reasonably determines that the cost of obtaining a security interest in such Collateral exceeds the practical benefit thereof to the Lender.
Appears in 1 contract
Samples: Pledge and Security Agreement (Origin Bancorp, Inc. Attn: Chase Anderson)
