SECURITY AGREEMENT (General)Security Agreement • January 11th, 2006 • Tier Technologies Inc • Services-computer integrated systems design • California
In consideration of the covenants and agreements contained herein, and financial accommodations given, to be given or continued, the undersigned Debtor hereby, pursuant to the California Uniform Commercial Code (“Code”), grants to City National Bank, a national banking association (“CNB”), as secured party, a security interest in all of the Collateral described in the Collateral Description below. The security interest created by this Agreement attaches as of the effective date of the Assumption Agreement executed by the parties, or as soon as Debtor acquires rights to the Collateral, and secures payment of any and all of (a) Debtor’s indebtedness (including all debts, obligations, or liabilities now or hereafter existing, absolute or contingent, direct or indirect, matured or unmatured and including undisbursed future advances) to CNB; (b) amounts due CNB for its performance of Debtor’s obligations under this Agreement; and (c) amounts due CNB in its enforcement of its rights and reme
ASSUMPTION AGREEMENTAssumption Agreement • January 11th, 2006 • Tier Technologies Inc • Services-computer integrated systems design • California
This Assumption Agreement (“Agreement”) is made as of January 6, 2005, among Tier Technologies, Inc., a Delaware corporation, and Official Payments Corporation, a Delaware corporation (collectively, “Borrower”), Epos Corporation, an Alabama corporation (“Assuming Party”), and City National Bank, a national banking association (“CNB”), with reference to the following facts:
