The Additional Property. All Additional Property received by Internet America shall be received in trust for the benefit of the Secured Party. All Additional Property and all certificates or other written instruments or documents evidencing and/or representing the Additional Property that is received by Internet America, other than any cash that constitutes Additional Property, together with such instruments of transfer as the Secured Party may request, shall immediately be delivered to or deposited with the Secured Party and held by the Secured Party as Collateral under the terms of this Agreement. If the Additional Property received by Internet America shall be shares of stock or other securities, such shares of stock or other securities shall be duly endorsed in blank or accompanied by proper instruments of transfer and assignment duly executed in blank, all in form and substance satisfactory to the Secured Party. The Secured Party shall be deemed to have possession of any Collateral in transit to the Secured Party or its agents.
Appears in 4 contracts
Samples: Security Agreement (Internet America Inc), Security Agreement (Internet America Inc), Security Agreement (Hunt William O)
