The Collateral means all of the rights, titles and interests of every kind or nature whatsoever of Grantor in and to, but none of its obligations with respect to, the following described items, whether now owned or existing or hereafter created, acquired or arising, and wheresoever located:
The Collateral given by the Borrower or any Subsidiary pursuant to the Mortgages, the Assignments or other Documents shall secure and cross-collateralize all Obligations; including, without limitation, all Notes, owed to the Bank whether now outstanding or arising in the future.
The Collateral means the whole right, title, benefit and interest, present and future, of the Grantor in and under the Accounts and the Account Balances and all other income, interest and rights deriving from or incidental to the foregoing;
Examples of The Collateral in a sentence
Payments on the Notes both prior to and following enforcement of the security over the Collateral are subordinated to the prior payment of certain fees and expenses of, or payable by, the Issuer and to payment of principal and interest on prior ranking Classes of Notes.
In particular, prospective purchasers of such Notes should be aware that the amount and timing of payment of the principal and interest on the Collateral Debt Obligations will depend upon the detailed terms of the documentation relating to each of the Collateral Debt Obligations and on whether or not any Obligor thereunder defaults in its obligations.
In particular, prospective purchasers of such Notes should be aware that the amount and timing of payment of the principal and interest on the Collateral Obligations will depend upon the detailed terms of the documentation relating to each of the Collateral Obligations and on whether or not any Obligor thereunder defaults in its obligations.
It is also possible that the Collateral will experience higher default rates than anticipated and that performance will suffer.
The ability to satisfy such tests and requirement will depend on a number of factors beyond the control of the Issuer and the Collateral Manager, including the availability of obligations that satisfy the Eligibility Criteria and other Portfolio related requirements in the primary and secondary loan markets, the condition of the financial markets, general economic conditions and international political events.
More Definitions of The Collateral
The Collateral. Interest shall be considered a Class of Series 1997-1 for all purposes of the Agreement and this Supplement, including for purposes of voting concerning the liquidation of the Trust pursuant to Section 9.1 of the Agreement. The Collateral Interest Holder shall be deemed to be the Series Enhancer for all purposes under the Agreement and this Supplement. (b) Series 1997-1 shall be included in Group I and shall be a Principal Sharing Series. Series 1997-1 shall be an Excess Allocation Series. Series 1997-1 shall not be subordinated to any other Series. Notwithstanding any provision in the Agreement or in this Supplement to the contrary, the first Distribution Date with respect to Series 1997-1 shall be the ________________ Distribution Date and the first Monthly Period shall begin on and include _______, 1997 and end on and include ____________, 1997.
The Collateral or any part thereof in one or more parcels at public or private sale, at any of Agent's offices or elsewhere, for cash, on credit or for future delivery, at such time or times and at such price or prices and upon such other terms as Agent may deem commercially reasonable. Agent or any Secured Party may be the purchaser of any or all of the Collateral at any such sale and Agent, as agent for and representative of Secured Parties (but not any Secured Party or Secured Parties in its or their respective individual capacities unless Requisite Lenders shall otherwise agree in writing), shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Secured Obligations as a credit on account of the purchase price for any Collateral payable by Agent at such sale. Each purchaser at any such sale shall hold the property sold absolutely free from any claim or right on the part of Grantor, and Grantor hereby waives (to the extent permitted by applicable law) all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. Grantor agrees that, to the extent notice of sale shall be required by law, at least ten days' notice to Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. Agent shall not be obligated to make any sale of Collateral regardless of notice of sale having been given. Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Grantor hereby waives any claims against Agent arising by reason of the fact that the price at which any Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Agent accepts the first offer received and does not offer such Collateral to more than one offeree. If the proceeds of any sale or other disposition of the Collateral are insufficient to pay all the Secured Obligations (other than inchoate indemnification obligations with respect to claims, losses or liabilities which have not yet arisen), Grantor shall be liable for the deficiency and the fees of any attorneys...
The Collateral. Any payments made by Foothill shall not constitute an agreement by Foothill to make similar payments in the future or a waiver by Foothill of any Event of Default under this Agreement. Foothill need not inquire as to, or contest the validity of, any such expense, tax, security interest, encumbrance, or lien and the receipt of the usual official notice for the payment thereof shall for the purposes of this Agreement be conclusive evidence that the same was validly due and owing. Foothill shall use its best efforts to provide notice to Guarantor of any action taken by it under this Section 8. ---------
The Collateral. Borrower promises that: 1.Borrower is now the owner of the Collateral or will immediately become the owner of the Collateral. 2. The Collateral is now and will be maintained in good working order and repair. 3. The Collateral is now and will be kept free from any other lien or legal claim against it. 4. Borrower will not sell or offer to sell, transfer, lease, abandon or encumber (use as collateral elsewhere) any of the Collateral. Borrower will not remove it from Delaware State for more than 30 days without the Bank's consent. Borrower will not use it, or permit its use, in any illegal act. 5. Borrower will immediately notify the Bank in writing of any loss or damage to the Collateral. 6.If the Collateral is a motor vehicle, Borrower will have the Bank's name listed as the "Lienholder" on any certificate of title issued now or in the future. 7. Borrower will promptly pay all taxes and assessments on the Collateral. 8. If the owner is a corporation, owner and officer executing this agreement certify that all necessary corporate action has been taken to authorize this agreement to be signed. WAIVERS AND RELEASES: The Bank can waive or delay enforcing any of its rights without losing them. The Bank can waive or delay enforcing a right as to Borrower or any other borrower without waiving it as to others. Also, the Bank can release any Collateral or release one borrower from its responsibility under this agreement without releasing the others. The Bank need not give notice of any waiver, delay, release, or default to anyone. If any provision of this agreement is found invalid, the remaining provisions shall remain in full force and effect. The Bank's failure to properly file financing statements against the Collateral will not affect Borrower's obligationsto the Bank. Scientific Industries, Inc. /s/Helena R. Santos, Robert P. Xxxxxxx 00/00/00 ________________________________________________ Date:_________________ Borrower acknowledges receipt of a copy of this Security Agreement and agrees with the terms.
The Collateral. CUSTODIAN: XXXXXX TRUST AND SAVINGS BANK By: ___________________________ Name: Title: Xxxxxx Trust and Savings Bank 000 Xxxx Xxxxxx Xxxxxx, 00xx Xxxxx Xxxxxxx, Xxxxxxxx 00000 Attention: Indenture Trust Administrator Facsimile: (000) 000-0000 Telephone:(000) 000-0000 THE BACKUP SERVICER: XXXXXX TRUST AND SAVINGS BANK By: ___________________________ Name: Title: Xxxxxx Trust and Savings Bank 000 Xxxx Xxxxxx Xxxxxx, 00xx Xxxxx Xxxxxxx, Xxxxxxxx 00000 Attention: Indenture Trust Administrator Facsimile: (000) 000-0000 Telephone:(000) 000-0000 REQUIRED INVESTORS: FIRST UNION NATIONAL BANK By: ___________________________ Name: Title: First Union National Bank Xxx Xxxxx Xxxxx Xxxxxx, XX-0 Xxxxxxxxx, Xxxxx Xxxxxxxx 00000 Attention: Capital Markets Credit Administration Facsimile: (000) 000-0000 THE HEDGE COUNTERPARTY: FIRST UNION NATIONAL BANK By: ___________________________ Name: Title: First Union National Bank Xxx Xxxxx Xxxxx Xxxxxx, XX-0 Xxxxxxxxx, Xxxxx Xxxxxxxx 00000 Attention: Capital Markets Credit Administration Facsimile: (000) 000-0000 Telephone: (000) 000-0000
The Collateral given by Borrower as security for the Senior Loan includes without limitation, all inventory of refined petroleum products and the proceeds thereof of Borrower located at each Property (the "Petroleum Inventory").