Subordinated Security Agreement Sample Contracts

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SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • January 31st, 2007 • Irvine Sensors Corp/De/ • Semiconductors & related devices • Texas

This Subordinated Security Agreement (this “Agreement”) is made and entered into as of January 17, 2007 by and between the undersigned (“Grantor”) and the lender listed on the signature page hereto (the “Lender”).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • July 1st, 2015 • Quantum Fuel Systems Technologies Worldwide, Inc. • Motor vehicle parts & accessories • New York

THIS SUBORDINATED SECURITY AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”) is entered into as of June 29, 2015, by and between QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC., a Delaware corporation (the “Grantor”), and [______________], not in his individual capacity but solely as the collateral agent (in such separate capacity, and together with any successors, assigns and designees, the “Collateral Agent”) for the various purchasers (the “Purchasers”) party to that certain Convertible Note Purchase Agreement of even date herewith by and among the Grantor and the Purchasers (as amended, restated, supplemented or otherwise modified from time to time, the “Note Purchase Agreement”).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • October 31st, 2008 • Villageedocs Inc • Services-business services, nec • California

This SUBORDINATED SECURITY AGREEMENT ("Security Agreement") is made as of this 1 day of August, 2008, by and among VillageEDOCS, Inc., a Delaware corporation ("VillageEDOCS"), GoSolutions, Inc., a Florida corporation ("GSI"), and Silver Lake Group LLC ("Silver Lake").

WITNESSETH:
Subordinated Security Agreement • February 4th, 2005 • Warp Technology Holdings Inc • Services-prepackaged software • New York
SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • March 17th, 1999 • Omni Rail Products Inc • Surgical & medical instruments & apparatus • Oregon
Subordinated Security Agreement,
Subordinated Security Agreement • September 21st, 2010 • World Acceptance Corp • Personal credit institutions • Iowa

Subordinated Security Agreement, Pledge and Indenture of Trust (this “Agreement”) dated as of September 17, 2010, between World Acceptance Corporation, a South Carolina corporation (the “Borrower”), and Wells Fargo Preferred Capital, Inc., as collateral agent (the “Collateral Agent”). The post office addresses of the Borrower and the Collateral Agent are set forth in §10.3.

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • June 4th, 2015 • Vasomedical, Inc • Electromedical & electrotherapeutic apparatus • New York

THIS AGREEMENT (the "Agreement"), dated as of May 29, 2015, is entered into by and between (i) VASOMEDICAL, INC., a Delaware corporation (“Borrower” or “Parent”) and (ii) MEDTECHNOLOGY INVESTMENTS LLC, a Florida limited liability company, (the "Lender"). In consideration of the mutual agreements contained herein, the parties hereto agree as follows:

Contract
Subordinated Security Agreement • June 5th, 2015 • XZERES Corp. • Engines & turbines • Massachusetts

THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS EVIDENCED HEREBY ARE SUBORDINATED TO THE RIGHTS OF WELLS FARGO BANK, NATIONAL ASSOCIATION RELATING TO THAT CERTAIN CREDIT AGREEMENT, DATED AUGUST 21, 2014, AMONG WELLS FARGO BANK, NATIONAL ASSOCIATION AND XZERES CORP., AND THE RELATED GUARANTY AND SECURITY AGREEMENT AND OTHER LOAN DOCUMENTS, AS THE SAME HAS OR MAY BE AMENDED FROM TIME TO TIME.

SUBORDINATED SECURITY AGREEMENT (this “Security Agreement”) Dated as of February 26, 2010
Subordinated Security Agreement • March 2nd, 2010 • Beacon Enterprise Solutions Group Inc • Telephone communications (no radiotelephone) • Florida
Contract
Subordinated Security Agreement • May 31st, 2024 • Air T Inc • Air courier services
SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • October 12th, 2023 • ProSomnus, Inc. • Surgical & medical instruments & apparatus

This SUBORDINATED SECURITY AGREEMENT, dated as of October 11, 2023 (this “Agreement”), is among ProSomnus, Inc., a Delaware corporation (the “Company”), all of the Subsidiaries of the Company (such subsidiaries, the “Guarantors” and together with the Company, the “Debtors”) and Wilmington Trust, National Association, not in its individual capacity but solely in its capacity as Collateral Agent for the Secured Parties (in such capacity, together with its successors in such capacity, the “Collateral Agent” or “Agent”).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • May 8th, 2008 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

THIS SUBORDINATED SECURITY AGREEMENT dated as of March 17, 2008 (this “Security Agreement”) is by and among CANO PETROLEUM, INC., a Delaware corporation (“Borrower”), each subsidiary of the Borrower party hereto from time to time (together with the Borrower, the “Grantors” and individually, each a “Grantor”) and UnionBanCal Equities, Inc. as administrative agent (in such capacity the “Administrative Agent”) for the ratable benefit of itself and the Lenders (as defined below) (together with the Lenders, individually a “Secured Party”, and collectively, the “Secured Parties”).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • December 29th, 2008 • Russ Berrie & Co Inc • Dolls & stuffed toys • New York

This SUBORDINATED SECURITY AGREEMENT (this “Agreement”) is made this 23rd day of December, 2008, among Grantors listed on the signature pages hereof and those additional entities that hereafter become parties hereto by executing the form of Supplement attached hereto as Annex 1 (collectively, jointly and severally, “Grantors” and each individually, “Grantor”), and RUSS BERRIE AND COMPANY, INC. (together with its successors and assigns, “Secured Party”).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • November 14th, 2012 • Heatwurx, Inc.

THIS SUBORDINATED SECURITY AGREEMENT (“Subordinated Security Agreement”) is made this 15th day of April, 2011, under the laws of the State of Utah, between HEATWURXAQ, INC, a corporation formed under the laws of the State of Delaware (the “Company”) whose legal address is 136 Heber Avenue, Suite 304, Park City, Utah 84060, and RICHARD GILES, whose legal address is 6300 Sagewood Drive, Park City, Utah 84098 (the “Secured Party”).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • May 1st, 2009 • Ari Network Services Inc /Wi • Services-computer programming, data processing, etc. • Delaware

THIS SUBORDINATED SECURITY AGREEMENT (this “Security Agreement”), dated as of April 27, 2009, is entered into by and between ARI NETWORK SERVICES, INC., a Wisconsin corporation, (the “Debtor”), and CHANNEL BLADE TECHNOLOGIES CORP., a Virginia corporation (the “Secured Party).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • January 9th, 2008 • Forster Drilling Corp • Oil & gas field machinery & equipment • Texas

THIS SUBORDINATED SECURITY AGREEMENT is made as of January 3, 2008, by Forster Drilling Corporation, a Nevada corporation (“Borrower”), Forster Drilling, Inc., a Texas corporation, Forster Tool & Supply, Inc., a Nevada corporation, and Forster Exploration & Production, Inc., a Nevada corporation, each a wholly-owned subsidiary of Borrower (the “Subsidiaries”; and collectively with the Borrower, “Grantor”), in favor of Bank of the Ozarks (“Trustee”).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • January 5th, 2024 • iCoreConnect Inc. • Services-prepackaged software • Massachusetts

This Subordinated Security Agreement (this “Agreement”) dated this 29th day of December, 2023 is by and between iCoreConnect, Inc., a Delaware corporation (“Debtor”) and PIGI Solutions, LLC, a Delaware limited liability company (the “Secured Party”).

Contract
Subordinated Security Agreement • October 7th, 2015 • General Employment Enterprises Inc • Services-employment agencies

THE RIGHTS OF PAYMENT, PRIORITY AND ENFORCEMENT OF LIENS AND SECURITY INTERESTS, AND THE EXERCISE OF ANY RIGHT OR REMEDY BY THE SECURED PARTY (OR ASSIGNEE THEREOF) ARE SUBJECT TO THE PROVISIONS OF THE SUBORDINATION AND INTERCREDITOR AGREEMENT, effective as of the date hereof AS THE SAME MAY BE AMENDED, RESTATED, SUPPLEMENTED, MODIFIED OR REPLACED FROM TIME TO TIME (THE "INTERCREDITOR AGREEMENT") BY AND AMONG THE SECURED PARTY AND ACF FINCO I LP, a limited partnership organized under the laws of the state of Delaware (SUCH OTHER SENIOR LENDER(S) AS MAY BE DEFINED IN THE INTERCREDITOR AGREEMENT), AND OTHERS. ANY PERSON BECOMING AN ASSIGNEE OF THIS SUBORDINATED SECURITY AGREEMENT TAKES SUCH ASSIGNMENT AND RELATED RIGHTS SUBJECT TO THE INTERCREDITOR AGREEMENT.

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SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • July 1st, 2013 • Heron Lake BioEnergy, LLC • Industrial organic chemicals • Minnesota

THIS SUBORDINATED SECURITY AGREEMENT (“Security Agreement”), is made and entered into as of the 17th day of May, 2013, by and between HERON LAKE BIOENERGY, LLC, a Minnesota limited liability company (“Debtor”), and Taryl Enderson and Robert Wolf, in his capacity as collateral agent (together with his successors and assigns, the “Collateral Agent”) for the benefit of the following lenders (collectively, the “Initial Sub-debt Holders” or the “Lenders”): David J. and Krista R. Woestehoff, Schmitz Grain, Inc., Doug Schmitz, Michael Kunerth and Dawn Kunerth as Trustees of the Michael Kunerth Trust under agreement dated July 18, 2006, Dawn Kunerth and Michael Kunerth as Trustees of the Dawn Kunerth Trust under agreement dated July 18, 2006, Robert J. and Jean M. Ferguson, and Project Viking, L.L.C.

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • December 14th, 2007 • Wells Timberland REIT, Inc. • Real estate investment trusts • New York

SUBORDINATED SECURITY AGREEMENT, dated as of October 9, 2007 (as amended, supplemented, restated or otherwise modified from time to time, this “Agreement”), made by TIMBERLANDS II, LLC, a Delaware limited liability company, WELLS TIMBERLAND ACQUISITION, LLC, a Delaware limited liability company (each a “Borrower” and collectively, the “Borrowers”), WELLS TRS HARVESTING OPERATIONS, LLC, a Delaware limited liability company (“Wells TRS Subsidiary”), and each Additional Grantor (such capitalized term and all other capitalized terms not otherwise defined herein to have the meanings provided for in Article I) that may from time to time become a party hereto (the Borrowers, Wells TRS Subsidiary and the Additional Grantors are collectively referred to as the “Grantors” and individually as a “Grantor”), in favor of WACHOVIA BANK NATIONAL ASSOCIATION, as administrative agent (in such capacity, the “Administrative Agent”) for each of the Lenders.

Contract
Subordinated Security Agreement • July 2nd, 2008 • Ats Medical Inc • Orthopedic, prosthetic & surgical appliances & supplies • Minnesota

This Subordinated Credit Agreement is subordinate (i) in the manner and to the extent set forth in that certain Subordination Agreement (the “Subordination Agreement”) dated concurrently herewith by and between Theodore C. Skokos, a party to this Agreement, and Silicon Valley Bank (in such capacity, “First Lien Holder”), a party to the Loan and Security Agreement dated as of July 28, 2004 by and among ATS Medical, Inc. and First Lien Holder, as amended, and (ii) to the obligations of the Borrower to the holders of the Borrower’s 6% Convertible Senior Notes due 2025 and issued pursuant to that certain Indenture dated as of October 7, 2005, made by and between the Borrower and Wells Fargo Bank, National Association, as trustee; and Theodore C. Skokos, by his acceptance hereof, irrevocably agrees to be bound by the provisions of the Subordination Agreement.

Contract
Subordinated Security Agreement • July 27th, 2016 • NXT-Id, Inc. • Services-detective, guard & armored car services • Delaware

This instrument and the rights and obligations evidenced hereby are subordinate in the manner and to the extent set forth in that certain Letter Agreement re Subordination of Seller Payments dated as of July 25, 2016 (the "subordination agreement"), by and among Logicmark Investment Partners, LLC, a Delaware limited liability company, Gottlieb Family, LLC, a Virginia limited liability company, Ben Cornett, Kevin O'Connor and Generation3 Partners I, LLC, a Delaware limited liability company, Logicmark, LLC, a Delaware limited liability company, NXT-ID, Inc., a Delaware corporation, and ExWorks Capital Fund I, L.P., in its capacity as agent for the Lenders (in such capacity, "senior lender"), to the indebtedness (including interest) owed by borrower (as defined below) and certain of its affiliates pursuant to that certain Loan and Security Agreement dated as of July 25, 2016 between borrower the other "Loan Party Obligors" from time to time party thereto, Agent and the "Lenders" from tim

Contract
Subordinated Security Agreement • January 21st, 2010 • Nexsan Corp • Computer storage devices • New York

THIS SUBORDINATED SECURITY AGREEMENT IS SUBJECT TO THE SUBORDINATION AGREEMENT (THE “SUBORDINATION AGREEMENT”), DATED AS OF THE DATE HEREOF, AMONG THE GRANTOR, THE SENIOR LENDER AND FONDS DE SOLIDARITÉ DES TRAVAILLEURS DU QUÉBEC (F.T.Q.)

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • December 21st, 2001 • CTN Media Group Inc • Television broadcasting stations • Illinois

THIS SUBORDINATED SECURITY AGREEMENT (this "Agreement") dated as of November 26, 2001, is among CTN Media Group, Inc., a Delaware corporation (the "Company"), and U-C Holdings, L.L.C., a Delaware limited liability company ("Subordinated Creditor").

Contract
Subordinated Security Agreement • January 21st, 2010 • Nexsan Corp • Computer storage devices • New York

THIS SUBORDINATED SECURITY AGREEMENT IS SUBJECT TO THE SUBORDINATION AGREEMENT, DATED AS OF THE DATE HEREOF, AMONG NEXSAN CORPORATION, COMERICA BANK AND FONDS DE SOLIDARITE DES TRAVAILLEURS DU QUEBEC (F.T.Q.)

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • February 9th, 2009 • Cano Petroleum, Inc • Crude petroleum & natural gas • Texas

THIS SUBORDINATED SECURITY AGREEMENT dated as of December 17, 2008 (this “Security Agreement”) is by and among CANO PETROLEUM, INC., a Delaware corporation (“Borrower”), each subsidiary of the Borrower party hereto from time to time (together with the Borrower, the “Grantors” and individually, each a “Grantor”) and UnionBanCal Equities, Inc. as administrative agent (in such capacity the “Administrative Agent”) for the ratable benefit of itself and the Lenders (as defined below) (together with the Lenders, individually a “Secured Party”, and collectively, the “Secured Parties”).

SUBORDINATED SECURITY AGREEMENT
Subordinated Security Agreement • May 20th, 2008 • Blackhawk Biofuels, LLC • Industrial organic chemicals • Iowa

This Subordinated Security Agreement (the “Agreement”) is given as of May 9 2008 from BLACKHAWK BIOFUELS, LLC, a Delaware limited liability company (the “Borrower”), to REG VENTURES, LLC, an Iowa limited liability company (“REG”).

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