Money Secured definition
Examples of Money Secured in a sentence
The parties agree that irreparable damage would occur and that the Purchase Money Lenders and the other Purchase Money Secured Parties would not have any adequate remedy at law in the event that any provision of Sections 3.03(f), 3.03(g) and 3.03(h) were not performed in accordance with their specific terms or were otherwise breached.
The Collateral Agent and the other Purchase Money Secured Parties shall be accountable only for amounts actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Loan Party for any act or failure to act hereunder, except for their own gross negligence, bad faith or willful misconduct.
Each Subsidiary Guarantor agrees that its guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Purchase Money Obligation is rescinded or must otherwise be restored by the Collateral Agent or any other Purchase Money Secured Party upon the bankruptcy or reorganization of the Borrower, any Subsidiary Guarantor or otherwise.
The rights and remedies of the Collateral Agent, the Administrative Agent and the other Purchase Money Secured Parties hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have.
The provisions of this Section 6.03 shall survive and remain in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby, the repayment of any of the Purchase Money Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of the Collateral Agent or any other Purchase Money Secured Party.
The Guarantor indemnifies the Supplier against any and all losses and expenses of any nature including the cost of preparation of this Deed, stamp duty (if any) and legal costs on a solicitor/client basis arising in any way out of its dealings with the Customer, the intent being that the Guarantor is primarily liable for payments to the Supplier of any losses and expenses and of the Money Secured.
In consideration of us and the Developer entering into this Deed and in consideration of any money which is now due or may become due and payable to us and the Developer by you under this Deed and for the purpose of securing the payment of the Money Secured, you hereby charge to us your estate and interest in the Estate subject to any of the encumbrances described in Schedule 6.
This guarantee and indemnity is given for valuable consideration and is a continuing guarantee to the Supplier for the whole of the Money Secured and performance of the Obligations.
To the extent that the security interest was granted in connection with loan(s) to enable you to acquire rights in any of the Collateral the Credit Union is and shall be considered a Purchase Money Secured Party and may at its discretion disburse money directly to the Seller of the Collateral or party holding a prior security interest.
Contemporaneously with the execution of that certain Third Modification to Loan and Security Agreement dated as of April 13, 2023, Lender shall lend to Borrower the principal sum of One Hundred Forty-Six Thousand and no/100 Dollars ($146,000.00), which term loan is further evidenced by, and subject to the additional terms of, that certain Purchase Money Secured Promissory Note, of even date herewith (the Term Note).