Agency Assets definition
Examples of Agency Assets in a sentence
In addition, Selling Parties agree not to make any disparaging statements about Purchaser, its assigns or the Agency Assets.
Finally, Selling Parties agree that they will not, for a period of two (2) years following the closing date, directly or indirectly, solicit any of the producers or employees associated with the Agency Assets to work for or contract with Seller.
The above listing specifically identifies all written and verbal agreements that Seller currently has, or has had during the past twelve (12) months, with licensed producers, sub-producers, co-brokers, representatives, agents or other Persons related to Seller’s Agency Assets.
Borrower expressly agrees and acknowledges Lender's or a receiver's right to Agency Assets, right to possession of Agency Assets and right to operate Borrower's business without the necessity of commencing legal action and without Borrower's further action or authorization.
Borrower will use its best efforts to preserve the value of Borrower's Agency Assets and the property in which Lender has a security interest.
During the Interim Period, Seller shall promptly notify Purchaser of any change in agency operations which might have a material adverse effect on the Agency Assets.
Such security interest shall be subordinate to any security interest granted by Purchaser to the lender financing Purchaser’s acquisition of the Agency Assets.
The security interest granted in the Loan Documents secures this loan (including all extensions, renewals, refinancings and modifications thereof) and any other debt Borrower has with Lender now or in the future and, if used to purchase Agency Assets, grants Lender a purchase money security interest.
Further, Seller hereby agrees and promises to indemnify, defend and hold Purchaser harmless from and against any and all claims made by any Person for Seller’s, Seller’s owners, directors, officers, employees and independent contractors actions and/or inactions prior to the closing date, including but not limited to any claim from a broker/listing agent claiming a fee for the sale of the Agency Assets that are the subject matter hereof.
Borrower shall defend the rights of Lender in and to Agency Assets against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to Lender and shall keep the Agency Assets free from liens, assignments, and other security interests except for the assignment of security interest granted pursuant to the Loans Documents.