Additional Security Interests Clause Samples
The "Additional Security Interests" clause allows a lender or secured party to require the borrower or debtor to provide further collateral beyond what was originally agreed upon. This may involve the borrower granting new security interests in additional assets or property if certain conditions are met, such as a decline in asset value or a breach of financial covenants. The core function of this clause is to protect the lender’s position by ensuring sufficient collateral is available to secure the loan, thereby mitigating the risk of loss if the borrower defaults.
Additional Security Interests. Until such time as the First Lien Obligations have been unconditionally and irrevocably repaid in full in cash and the commitments under the Credit Facilities have been terminated and cancelled, no Borrower nor any Material Subsidiary shall grant or permit any additional Security Interests on any of its property, assets or undertaking to secure any Second Lien Obligations unless it has granted, or concurrently therewith grants, a senior Security Interest on such assets, property or undertaking to secure the First Lien Obligations.
Additional Security Interests. The Agreement and the pledge under the Agreement constitute the supplement to any other security interests currently held or to be held by the Security Agent, and shall not, in any way, be affected by other such security interests.
Additional Security Interests. The Security Interests are in addition to and are not in any way prejudiced by any other guarantees or Charge now or subsequently held by the Pledgee.
Additional Security Interests. Without prejudice to the generality of Clause 8.1 (General Assurance), the Assignor shall, at its own cost, promptly execute and deliver to the Security Trustee in such form as the Security Trustee may require such other Security Interests over such of the Assigned Assets as shall be required by the Security Trustee (whether generally or specifically, and whether for the purpose of obtaining legal title to the relevant Assigned Assets, creating Security Interests which is effective under the laws of a foreign jurisdiction, or otherwise).
Additional Security Interests. Pledgor agrees not (1) to sell or otherwise dispose of, or grant any option with respect to, any of the Pledged Shares, (2) to create or permit to exist any security interest upon or with respect to any of the Pledged Shares, except for the security interest created by this Agreement, or (3) to enter into any other contractual obligations which may restrict or inhibit Pledgee's right or ability to sell or otherwise dispose of the Pledged Shares or any part thereof after the occurrence of an Event of Default.
Additional Security Interests. The Security Interest constituted by this Instrument is added to, and does not impair the additional Security Interests held now or in the future by the Bank with reference to the Guaranteed Obligations.
Additional Security Interests. This security interest in the Intellectual Property Collateral is granted in conjunction with the security interest granted to Lender under the Security Agreement and/or other Loan Documents. The rights and remedies of Lender with respect to the security interest in the Intellectual Property Collateral are in addition to those set forth in the Loan Documents, and those which are now or hereafter available to Lender as a matter of law or equity. Each right, power, and remedy of Lender provided for herein or in the Loan Documents, or now or hereafter existing at law or in equity, shall be cumulative and concurrent and shall be in addition to every right, power, or remedy provided for herein and the exercise by Lender of any one or more of the rights, powers, or remedies provided for in this Intellectual Property Security Agreement, or any of the other Loan Documents, or now or hereafter existing at law or in equity, shall not preclude the concurrent or later exercise by any person or entity, including Lender, of any or all other rights, powers, or remedies.
Additional Security Interests. Seller agrees that if any Inactive Organization begins to conduct any business Seller shall pledge all of its interest in such Inactive Organization to secure the Notes by (i) executing a security agreement substantially in the form of that certain Borrower Security Agreement dated as of June 5, 1997, as amended on October 10, 1997, and on the date hereof and (ii) delivering all certificates representing the shares of stock being pledged, before such Inactive Organization commences doing business.
Additional Security Interests. Borrower hereby grants and assigns to Bank of Hawaii (or Bank of Hawaii’s respective affiliates, as applicable) to secure payment and performance of all obligations under the Loan Documents a security interest in all of Borrower’s right, title and interest, now or hereafter acquired, to the payment of money from Bank of Hawaii or its affiliate to Borrower under any swap, derivative, foreign exchange or hedge transaction or arrangement (or similar transaction or arrangement howsoever described or defined) at any time entered into between Borrower and Bank of Hawaii (or its affiliate) in connection the Loan, including, without limitation, the Swap Contract.
Additional Security Interests. SECTION 3.01. To secure the prompt and complete payment of the principal of, and interest and any applicable Make-Whole Amount on, all of the Notes issued and delivered and Outstanding, the payment of all other sums owing under the Indenture and under all other Project Documents (including, without limitation, the obligations of the Trustee under Section 2.05 of the Credit Agreement) (the "Project Indebtedness") and the performance of the covenants contained in the Indenture and in all other Project Documents, and in consideration of the premises and of the covenants contained herein and the sum of One Dollar ($1.00) paid by the Trustee to the Standby Purchaser at or before the delivery hereof, the receipt and sufficiency whereof are hereby acknowledged, the Standby Purchaser has hereby granted, bargained, sold, conveyed, assigned, transferred, mortgaged, affected, pledged, set over, confirmed, granted a continuing security interest in, and hypothecated and does hereby grant, bargain, sell, convey, assign, transfer, mortgage, affect, pledge, set over, confirm, grant a continuing security interest to the Trustee and to any co-trustee or separate trustee hereafter acting pursuant to the Indenture, and to their respective successors and assigns in trust forever (subject to Section 12.1 of the Indenture), all of its right, title and interest in, to and under the following described Properties whether now owned, existing or hereafter acquired or arising (all of such Properties, including without limitation all properties hereafter specifically subjected to the liens of the Indenture by any indenture supplemental thereto to which the Standby Purchaser has consented in writing, being hereinafter collectively referred to as the "Standby Purchaser Trust Estate"):
(a) the Equipment and the Drilling Rig;
(b) the Deed of Proceeds, Hire Purchase Agreement and the Standby Lease together with any amendments or modifications to any of the foregoing and all payments under and all accounts and General Intangibles generated therefrom;
(c) any insurance proceeds (other than insurance proceeds payable to the Standby Purchaser under liability policies for tort, environmental and similar liabilities), condemnation proceeds and the accounts, deposit accounts, issues, profits, products, revenues and other income of and from the Drilling Rig and/or the Equipment and all the estate, right, title and interest of every nature whatsoever of the Standby Purchaser in and to the same and ...