Collateral Processors definition

Collateral Processors means the first four (4) of the Ennea Processors monetized and/or commercialized by the Company pursuant to the Mxxxxx Agreement.
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Collateral Processors as used in this Note shall mean the first four (4) Ennea Processors manufactured and/or commercialized by the Company directly or indirectly as a result of or pursuant to the Mxxxxx Agreement.
Sample 1

Examples of Collateral Processors in a sentence

  • The Company shall not incur any indebtedness senior to this Note while it remains outstanding and shall not encumber the Collateral Processors or the Company’s assets with any interest senior to this Note.

  • To secure the Obligations, the Company, hereby assigns and grants to the Purchaser, as Purchaser, a continuing lien on and security interest in the Collateral including the Collateral Processors.

  • At such time as the Principal Amount has been paid to the Purchaser, Purchaser shall receive non-refundable Royalty Payments consisting of five percent (5%) of “Net Revenue” received by the Company as a result of the commercialization and/or monetization of the first two Collateral Processors resulting from the Mxxxxx Agreement.

  • The Principal Amount of the Note is a direct debt obligation of the Company and is secured by a security interest in the Collateral Processors and the other assets of the Company.

  • The Company shall not incur any indebtedness senior to the Note while it remains outstanding and shall not encumber the Collateral Processors with any interest senior to the Note.

  • ARTICLE 4.1 Commencing upon the fiscal quarter in which revenue is derived directly or indirectly from any of the Collateral Processors, the Company shall pay to the Purchaser non-refundable Royalty Payments consisting of eight and one half percent (8.5%) of all “Net Revenue” received by the Company as a result of the commercialization and/or monetization of the Collateral Processors until such time as the Principal Amount has been paid.

  • A condition precedent to the execution of this Pledge Agreement is that the Principal Amount of the Note be secured by the Collateral Processors as set forth in the Security Agreement.

  • If after the exhaustion of all other remedies including enforcement of the lien against the Collateral Processors and collection of all amounts due from the Company, there remains a Default, then the Purchaser shall provide written notice to Pledgor of the default (“Notice of Default”) and Pledgor shall have the option but not the obligation to cure the Default.

  • The Principal Amount shall be secured by the Collateral Processors in accordance with the provisions of the Note and Security Agreement.

  • At such time as the Principal Amount has been paid to the Purchaser, Purchaser shall receive non-refundable Royalty Payments consisting of 5.00 % of “Net Revenue” received by the Company as a result of the commercialization and/or monetization of the first two Collateral Processors resulting from the Mxxxxx Agreement.

Related to Collateral Processors

  • Collateral Provider means the Security Collateral Provider under a Security Document or the Transferor under a Transfer Annex, according to context, in relation to which “Collateral Taker” means the Secured Party or the Transferee, as the case may be.

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Lockbox Processor means Regulus Group II LLC, or its successors or assigns.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Collection site means the location of waste containers on collection day.

  • Applicable Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement and (y) the Non-Controlling Representative Enforcement Date, the Collateral Agent for the Series of First Lien Obligations represented by the Major Non-Controlling Representative.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Collateral Access Agreement means a landlord waiver, bailee letter, or acknowledgement agreement of any lessor, warehouseman, processor, consignee, or other Person in possession of, having a Lien upon, or having rights or interests in any Loan Party’s or its Subsidiaries’ books and records, Equipment, or Inventory, in each case, in form and substance reasonably satisfactory to Agent.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Lockbox Agreement means each agreement between a Borrower and a Clearing Bank concerning the establishment of a Lockbox for the collection of Receivables.

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

  • Lockbox Agreements means collectively, the Lockbox Account Agreement and the Lockbox Processing Agreement.

  • Acceptable Collateral means any of the following assets of Borrower, if (x) held in or credited to any Collateral Account subject to a first priority Lien under the applicable Security Agreement and (y) the Collateral Requirement has been satisfied with respect thereto:

  • Collateral Account Bank a bank which at all times is a Collateral Agent or a Lender or an affiliate thereof as selected by the relevant Grantor and consented to in writing by the Collateral Agent (such consent not to be unreasonably withheld or delayed).

  • Lockbox has the meaning set forth in Section 2.11.

  • Sub-processor means a third party engaged by the Processor for carrying out processing activities in respect of the Personal Data on behalf of the Processor; and

  • Obligors means the Borrower and the Guarantors.

  • Collateral Requirement means the requirement that:

  • Lockbox Bank means a depository institution named by the Servicer and acceptable to the Controlling Party.

  • Lockboxes has the meaning set forth in Section 2.7.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit L, with such amendments, modifications or supplements thereto as may be approved by the Administrative Agent.

  • Project Accounts means accounts referred to in and required to be established under the Senior Funding Agreements;