Examples of Buyer Security Agreement in a sentence
A Member may not pledge, mortgage, encumber or hypothecate all or any part of its Membership Interest without the prior consent of the other Members, which consent may be withheld by such other Members in their reasonable discretion except as provided for in the Buyer Security Agreement or the Seller Security Agreement.
Upon the election by either of the Secured Parties (as defined in the Buyer Security Agreement) to hold the Collateral in accordance with Section 3(f) of the Buyer Security Agreement, notwithstanding Article X of this Agreement, MHSI will thereupon be automatically admitted to the Company as a Member with respect to Buyer's Membership Interest hereunder, and concurrently, Buyer will cease to be a Member.
Notwithstanding the foregoing, any purchaser of Buyer's or Holdings' Membership Interest in accordance with the exercise by MHSI or the Company of the terms of the Buyer Security Agreement and the applicable provisions of the UCC and any purchaser of MHSI's Membership Interest in accordance with the exercise by Buyer or the Company of the terms of the Seller Security Agreement shall, upon execution of a counterpart to this Agreement become a Member with respect to the transferred Membership Interest.
Parent and Buyer Security Agreement, in the form attached hereto as Exhibit C.
Each Additional Security shall constitute a "Security" for all purposes under this Indenture, and (in the case of the Additional Notes) shall have such subclass and such further designations added or incorporated in such title as specified in the related Controlling Trustees' Resolutions, in any indenture supplemental hereto providing for the issuance of such Notes or specified in the form of such Notes, as the case may be.
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In the event a Buyer Security Agreement and all other Buyer Security Documents acceptable to Holder are not effective as of the Note Date, the failure of the Company to effectively secure its obligations under this Note with an effective Buyer Security Agreement and all applicable Buyer Security Documents within the period required under the Purchase Agreement shall be an express Event of Default under this Note.
Each of Borrower and Guarantor hereby acknowledge and agree that by entering into this Agreement Seller does not waive any default under the Loan Agreement or any other Loan Document or become obligated to waive any condition or obligation in any agreement between or among the parties to this Agreement and exercise of its rights under the Promissory Note and the Buyer Security Agreement.
This Agreement is the Buyer Security Agreement referred to in the Asset Purchase Agreement.
This Note shall be secured by the Buyer Security Agreement and all Buyer Security Documents provided in the Purchase Agreement.