Common use of Supplemental Security Agreements Without Secured Creditor Consent Clause in Contracts

Supplemental Security Agreements Without Secured Creditor Consent. The Companies and the Collateral Agent from time to time and at any time, subject to the restrictions in this Agreement contained, may enter into an agreement or agreements supplemental hereto, which thereafter shall form a part hereof, for any one or more or all of the following purposes: (a) to add to the covenants and agreements to be observed by, and to surrender any right or power reserved to or conferred upon the Companies; (b) to subject to the lien and security interest of this Agreement additional property hereafter acquired by any Company and intended to be subjected to the lien and security interest of this Agreement and to correct and amplify the description of any property subject to the lien and security interest of this Agreement; (c) to permit the qualification of this Agreement under the Trust Indenture Act of 1939, as amended, or any similar Federal statute hereafter in effect, except that nothing herein contained shall permit or authorize the inclusion of the provisions referred to in Section 316(a)(2) of said Trust Indenture Act of 1939 or any corresponding provision in any similar Federal statute hereafter in effect; and (d) to enter into a Security Agreement Supplement in the form attached hereto as Exhibit A; and each Company covenants to perform all requirements of any such supplemental agreement. No restriction or obligation imposed upon any Company may, except as otherwise provided in this Agreement, be waived or modified by any such supplemental agreement.

Appears in 2 contracts

Samples: Security Agreement (World Acceptance Corp), Security Agreement (World Acceptance Corp)

AutoNDA by SimpleDocs

Supplemental Security Agreements Without Secured Creditor Consent. The Companies Borrower and the Collateral Agent from time to time and at any time, subject to the restrictions in this Agreement contained, may enter into an agreement or agreements supplemental hereto, which thereafter shall form a part hereof, for any one or more or all of the following purposes: (a) to add to the covenants and agreements to be observed by, and to surrender any right or power reserved to or conferred upon the CompaniesBorrower; (b) to subject to the lien and security interest of this Agreement additional property hereafter acquired by any Company the Borrower and intended to be subjected to the lien and security interest of this Agreement and to correct and amplify the description of any property subject to the lien and security interest of this Agreement;; and (c) to permit the qualification of this Agreement under the Trust Indenture Act of 1939, as amended, or any similar Federal statute hereafter in effect, except that nothing herein contained shall permit or authorize the inclusion of the provisions referred to in Section 316(a)(2) of said Trust Indenture Act of 1939 or any corresponding provision in any similar Federal statute hereafter in effect; and (d) to enter into a Security Agreement Supplement in and the form attached hereto as Exhibit A; and each Company Borrower covenants to perform all requirements of any such supplemental agreement. No restriction or obligation imposed upon any Company the Borrower may, except as otherwise provided in this Agreement, be waived or modified by any such supplemental agreement.

Appears in 2 contracts

Samples: Security Agreement (World Acceptance Corp), Security Agreement (World Acceptance Corp)

Supplemental Security Agreements Without Secured Creditor Consent. The Companies and the Collateral Agent from time to time and at any time, subject to the restrictions in this Agreement contained, may enter into an agreement or agreements supplemental hereto, which thereafter shall form a part hereof, for any one or more or all of the following purposes: (a) to add to the covenants and agreements to be observed by, and to surrender any right or power reserved to or conferred upon the Companies; (b) on and after the Grant Date, to subject to the lien and security interest of this Agreement additional property hereafter acquired by any Company and intended to be subjected to the lien and security interest of this Agreement and to correct and amplify the description of any property subject to the lien and security interest of this Agreement; (c) to permit the qualification of this Agreement under the Trust Indenture Act of 1939, as amended, or any similar Federal statute hereafter in effect, except that nothing herein contained shall permit or authorize the inclusion of the provisions referred to in Section 316(a)(2) of said Trust Indenture Act of 1939 or any corresponding provision in any similar Federal statute hereafter in effect; and (d) to enter into a Subordinated Security Agreement Supplement in the form attached hereto as Exhibit A; and each Company covenants to perform all requirements of any such supplemental agreement. No restriction or obligation imposed upon any Company may, except as otherwise provided in this Agreement, be waived or modified by any such supplemental agreement.

Appears in 1 contract

Samples: Subordinated Security Agreement, Pledge and Indenture of Trust (World Acceptance Corp)

AutoNDA by SimpleDocs

Supplemental Security Agreements Without Secured Creditor Consent. The Companies Borrower and the Collateral Agent from time to time and at any time, subject to the restrictions in this Agreement contained, may enter into an agreement or agreements supplemental hereto, which thereafter shall form a part hereof, for any one or more or all of the following purposes: (a) to add to the covenants and agreements to be observed by, and to surrender any right or power reserved to or conferred upon the CompaniesBorrower; (b) on and after the Grant Date, to subject to the lien and security interest of this Agreement additional property hereafter acquired by any Company the Borrower and intended to be subjected to the lien and security interest of this Agreement and to correct and amplify the description of any property subject to the lien and security interest of this Agreement;; and (c) to permit the qualification of this Agreement under the Trust Indenture Act of 1939, as amended, or any similar Federal statute hereafter in effect, except that nothing herein contained shall permit or authorize the inclusion of the provisions referred to in Section 316(a)(2) of said Trust Indenture Act of 1939 or any corresponding provision in any similar Federal statute hereafter in effect; and (d) to enter into a Security Agreement Supplement in and the form attached hereto as Exhibit A; and each Company Borrower covenants to perform all requirements of any such supplemental agreement. No restriction or obligation imposed upon any Company the Borrower may, except as otherwise provided in this Agreement, be waived or modified by any such supplemental agreement.

Appears in 1 contract

Samples: Subordinated Security Agreement (World Acceptance Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!