Examples of Note Security Agreement in a sentence
Amounts may be drawn pursuant to this Line of Credit Promissory Note, Security Agreement and Personal Guarantee (hereinafter referred to as the “Note”) by request from the Borrower as approved by the Lender in its sole and absolute discretion.
The Guarantor hereby becomes a party to the Note Security Agreement as a Grantor (as defined therein) thereunder with the same force and effect as if originally named therein as a Grantor and as such hereby assumes all obligations and liabilities of a Grantor thereunder.
Upon the occurrence of any Event of Default or at any time thereafter, the Bank or the holder of the Revolving Note may declare the Note to be due and payable, and the Note shall immediately become due and payable, and Bank shall be entitled to the immediate exercise of all its rights and remedies available to it under the Revolving Note, Security Agreement, Guaranties, Deeds of Trust, Assignment, and all other documents and agreements between the parties.
Any sums Bank may Advance in excess of the face amount of the Note shall also be part of the principal amount the Borrower is obligated to pay Bank and shall be subject to all the terms of the Note, Security Agreement, and this Floor Plan Agreement.
There are no defaults pending under the Note, Security Agreement or Guaranty, nor any occurrence which could be an event of default with the passage of time or the serving of notice, and except those defaults that were cured by the Amendment Agreement, there were no defaults that have been cured.