Examples of Security Agreement Obligations in a sentence
All Obligations outstanding under the Existing Loan and Security Agreement immediately prior to the amendment and restatement thereof as contemplated hereby (such Obligations, the "Existing Loan and Security Agreement Obligations") shall, unless and until paid, continue to remain outstanding under this Agreement and shall not constitute new Obligations incurred by the Borrower on or after the Closing Date.
Neither the Borrower nor any of its Subsidiaries shall voluntarily prepay, or amend, supplement or otherwise modify the terms of, any Debt, except (i) the Obligations in accordance with the terms of this Agreement and (ii) the Loan and Security Agreement Obligations in accordance with the terms of the Loan and Security Agreement.
The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Obligations or Loan and Security Agreement Obligations, as the case may be.
The Borrower hereby confirms that all Existing Loan and Security Agreement Obligations are due and owing without offset, defense, counterclaim or recoupment of any kind or nature.
Lender may, without notice or demand, declare all of the Secured Obligations, the Second Mortgage Secured Obligations, the Third Mortgage Secured Obligations and the Pledge and Security Agreement Obligations immediately due and payable in full.
For the purposes of this Med Security Agreement, Obligations shall include all of the obligations described in the definition thereof, notwithstanding any right or power of Med or anyone else to assert any claim or defense as to the invalidity or unenforceability of any such obligation, and no such claim or defense shall affect or impair the obligations of Med hereunder.
At all times until repayment in full of the Secured Obligations, the Second Mortgage Secured Obligations, the Third Mortgage Secured Obligations and the Pledge and Security Agreement Obligations, Borrowers shall cause Guarantor to satisfy the Guarantor Minimum Net Worth Requirement and Guarantor Minimum Available Liquidity Requirement.
During the existence of any Event of Default, Lender may apply such amounts held by Lender or Servicer pursuant to this Section 5.1.25 to the Secured Obligations, the Second Mortgage Secured Obligations, the Third Mortgage Secured Obligations and the Pledge and Security Agreement Obligations in such order and manner as determined by Lender in its sole discretion.
In no event shall any Borrower, whether directly or indirectly, acquire any property or asset other than the Property nor commence any income generating activity not contemplated to be conducted by such Borrower as set forth in this Agreement until all Secured Obligations, Second Mortgage Secured Obligations, Third Mortgage Secured Obligations and Pledge and Security Agreement Obligations have been indefeasibly paid in full.
The provisions of this Section 10.19 shall survive the expiration and termination of this Agreement and the repayment of the Secured Obligations, the Second Mortgage Secured Obligations, the Third Mortgage Secured Obligations and the Pledge and Security Agreement Obligations.