Security Agreement definition
Examples of Security Agreement in a sentence
Company’s obligations under the Note will be secured by: (i) a Guaranty from Company’s wholly-owned subsidiary, MRC QRS, Inc., a Delaware corporation (“MRC”), attached hereto as Exhibit B (the “Guaranty”); (ii) all of MRC’s assets as more specifically set forth in the Security Agreement attached hereto as Exhibit C (the “Security Agreement”); and (iii) a pledge by Company of the common stock in MRC pursuant to the Stock Pledge Agreement attached hereto as Exhibit D (the “Pledge Agreement”).
This Note is a direct debt obligation of the Company and is secured by and under the Subsidiary Guarantee and Security Agreement.
Any direct or indirect Subsidiary of the Company (or the existing Company Subsidiary) formed or acquired after the Funding Date and before the Notes shall have been repaid in full shall promptly thereafter execute and deliver (or otherwise join and agreed to be bound as a Subsidiary of the Company under) the Subsidiary Guarantors Guaranty and the Security Agreement.
The words "Security Agreement" mean and include without limitation any agreements, promises, covenants, arrangements, understandings or other agreements, whether created by law, contract, or otherwise, evidencing, governing, representing, or creating a Security Interest.