XXXXX XX SECURITY INTEREST. The Lease Agreement and this Supplement constitute a financing agreement intended as security. In consideration of the agreements contained therein and in the Operative Documents, Lessee hereby grants, bargains, assigns, transfers, conveys and pledges to Lessor a security interest in and Lien upon all of its rights, title and interest in, to and under the Equipment, the subleases related to such Equipment, Lessee's interest in any bill xx sale and in each manufacturer's, vendor's or dealer's warranty for the Equipment, and all proceeds thereof, including, without limitation, all rentals, income and profits in respect of the Items of Equipment, whether under such subleases or otherwise, all credits granted by any manufacturer, vendor or dealer with respect to the return of any Item of Equipment and the proceeds of any insurance payable with respect to the Items of Equipment as collateral security for the payment and performance by Lessee of obligations owed to Lessor under the Operative Documents.
XXXXX XX SECURITY INTEREST. 1. To secure payment, performance and observance in full of all Obligations, Borrower hereby grants to Bank a continuing security interest in, a lien upon, and a right of set-off against, and Borrower hereby assigns, transfers, pledges and sets over to Bank all of the Collateral. All Collateral shall be security for the payment, performance and observance of all Obligations notwithstanding the maintenance of separate accounts by Bank or the existence of any instruments evidencing any of the Obligations.
2. Borrower hereby constitutes Bank and any designee of Bank as Borrower's attorney-in-fact and authorizes Bank or such designee, at Borrower's sole cost and expense, to exercise at any time or times in Bank's discretion all or any of the following powers, at the sole expense of Borrower, which power-of-attorney being coupled with an interest shall be irrevocable until all Obligations have been paid in full: (a) receive, take, endorse, assign, deliver, accept, and deposit, in the name of Bank or Borrower, any and all cash, checks, commercial paper, drafts, remittances and other instruments and documents relating to the Collateral, (b) receive, open and dispose of all mail addressed to Borrower and notify postal authorities to change the address for delivery thereof to such address as Bank may designate, (c) transmit to account debtors and any bailees notice of the interest of Bank in the Collateral or request from account debtors or such bailees at any time, in the name of Borrower or Bank or any designee of Bank. information concerning the Collateral and any amount owing with respect thereto, (d) notify account debtors to make payment directly to Bank, (e) take or bring, in the name of Bank or Borrower, all steps, actions, suits or proceedings deemed by Bank necessary or desirable to effect collection of the Collateral, (f) enter Borrower's premises for the purpose of inspecting, verifying, auditing, maintaining, preserving, protecting and removing the Collateral, (g) obtaining, adjusting, compromising, settling and cancelling insurance policies on the Collateral and any claims thereunder, and (h) execute in the name and on behalf of Borrower one or more Uniform Commercial Code financing statements or amendments with respect to the Collateral, naming Borrower as debtor and Bank as secured party and indicating and describing therein the types and the items of Collateral. Borrower hereby releases Bank, its officers, employees and designees from any liability...
XXXXX XX SECURITY INTEREST. To the extent the Borrower has any rights in or to any of the Collateral, the Borrower hereby grants to the Bank a security interest in and to the Collateral in accordance with and subject to the terms and provisions of this Security Agreement. Any and all interests or rights which the Borrower may have in or to the Collateral shall be, at all times, inferior, subordinate, and subject to the security interests of the Bank therein or thereto and shall be extinguished or terminated following, or as a result of, the Bank's exercise of its rights and remedies under this Security Agreement.
XXXXX XX SECURITY INTEREST. 1.1 Borrower hereby grants to Standard Federal a continuing security interest in the property and interests in property described in Section 2.1 below (hereinafter referred to as the "Collateral") to secure the payment of all loans and advances including any renewals or extensions thereof from Standard Federal to Borrower and all obligations of any and every kind and nature heretofore, now or hereafter owing from Borrower to Standard Federal, however incurred or evidenced, whether primary, secondary, contingent or otherwise, whether arising under this Agreement, under any other security agreement(s), promissory note(s), guarantee(s), mortgage(s), lease(s), instrument(s), document(s), contract(s), letter(s) of credit or similar agreement(s) heretofore, now or hereafter executed by Borrower and delivered to Standard Federal, or by oral agreement or by operation of law plus all interest, costs, expenses and reasonable attorney fees which may be made or incurred by Standard Federal in the disbursement, administration or collection of such obligations and in the protection, maintenance and liquidation of the Collateral (hereinafter collectively called "Liabilities").
1.2 All statements of account rendered by Standard Federal to Borrower relating to Borrower's Liabilities, including all statements of principal, interest, expenses and costs owing by Borrower to Standard Federal, shall be presumed correct and accurate and shall constitute an account stated between Borrower and Standard Federal unless within thirty (30) days after mailing thereof to Borrower, Borrower shall deliver to Standard Federal by registered or certified mail addressed to Standard Federal at its principal place of business, written objection thereto specifying the error or errors, if any, contained in any such statement.
1.3 This Agreement shall be and become effective when, and continue in effect as long as, any Liabilities of Borrower to Standard Federal are outstanding and unpaid. Borrower will not sell, assign, transfer, pledge, alienate or otherwise dispose of or encumber any Collateral to any third party while this Agreement is in effect without the written consent of Standard Federal.
XXXXX XX SECURITY INTEREST. 1.1 To secure the Borrower's prompt, punctual, and faithful performance of all and each of the Borrower's Liabilities (as the term is defined herein) to the Bank, Borrower hereby grants to the Bank a continuing security interest in and to, and assigns to the Bank, the following, and each item thereof, whether now owned or now due, or in which the borrower has an interest or hereafter, at any time in the future, acquired, arising, or to become due, or in which the Borrower obtains an interest, and all products,proceeds, substitutions, and accession of or to any of the following (all of which, together with anyother property in which the Bank may in the future be granted a security interest pursuant hereto, is referred to hereinafter as the "Collateral"):
(a) All Accounts and Accounts Receivable;
(b) All Inventory;
(c) All Contract Rights;
(d) All General Intangibles;
(e) All Equipment;
(f) All Farm Products;
(g) All Goods;
(h) All Chattel Paper;
(i) All Fixtures;
XXXXX XX SECURITY INTEREST. Pursuant to Section 1.1 (and subject to the limitations set forth in the last paragraph thereof), without limiting the generality thereof, Grantor collaterally assigns to Administrative Agent all of Grantor's right, title and interest in and to all of Grantor's contracts, licenses, leases and other agreements and all rights, interests, powers, privileges and other benefits thereunder (including the rights to receive all proceeds and payments under each such contract, license, lease and other agreement). This assignment of each contract, license, lease and other agreement constitutes a fully perfected, absolute, unconditional and present assignment, provided, however, that prior to the occurrence of an Event of Default, Grantor may exercise any rights and powers under and may receive all payments and enjoy all other benefits of each such contract, license, lease and other agreement, subject to the terms and provisions of this Security Agreement and the other Loan Documents.
XXXXX XX SECURITY INTEREST. Pursuant to Section 1.1, without limiting the generality thereof, Grantor pledges, hypothecates, assigns, charges, mortgages, delivers, and transfers to Administrative Agent and grants to Administrative Agent a present, absolute, unconditional and continuing security interest in all of the following property (collectively, "Pledged Equity Collateral"):
1. All Pledged Equity currently owned by Grantor; provided, however, Grantor shall not be required by the terms hereof to grant to the Administrative Agent a security interest with respect to a Subsidiary that is not a Domestic Subsidiary to the extent that, as a result thereof, more than 65% of the Pledged Equity of such Subsidiary would then be pledged to the Administrative Agent for the benefit of the Lenders; and
2. All Pledged Equity issued from time to time hereafter to Grantor; provided, however, Grantor shall not be required by the terms hereof to grant to the Administrative Agent a security interest with respect to a subsidiary that is not a Domestic Subsidiary to the extent that, as a result thereof, more than 65% of the Pledged Equity would then be pledged to the Administrative Agent for the benefit of the Lenders; and
3. All other Pledged Equity Property (including, all options and warrants for Pledged Equity) owned by Grantor, whether now or hereafter delivered to Administrative Agent in connection with this Security Agreement; and
4. All Dividends, Distributions, capital accounts, and other payments and rights with respect to any Pledged Equity Property received or receivable by Grantor; and
5. All proceeds of any of the foregoing; and in each case, whether now existing or owned or hereafter acquired by Grantor and howsoever Grantor's interest therein may arise or appear (whether by ownership, security interest, claim or otherwise).
XXXXX XX SECURITY INTEREST. The Trust hereby pledges to and grants the Custodian a security interest in the assets of any Fund to secure the payment of any liabilities of the Trust to the Custodian, whether acting in its capacity as Custodi an or otherwise, or on account of money borrowed from the Custodian. This pledge is in addition to any other pledge of collateral by the Trust to the Custodian.
XXXXX XX SECURITY INTEREST. The Lease Agreement and this Supplement constitute a financing agreement intended as security. In consideration of the agreements contained therein and in the Operative Documents, Lessee hereby grants, bargains, assigns, transfers, conveys and pledges to Lessor a security interest in and Lien upon its interest in the Equipment, and its interests in the Subleases related to such Items of Equipment, each manufacturer's, vendor's or dealer's warranty on the Equipment or any component thereof and all proceeds thereof as collateral security for the payment and performance by Lessee of Lessee's obligations as Lessee under the Operative Documents.
XXXXX XX SECURITY INTEREST
