Certain Security Interests Sample Clauses
The 'Certain Security Interests' clause defines the rights and interests that a lender or creditor holds in specific assets of a borrower as collateral for a loan or obligation. This clause typically outlines which assets are subject to the security interest, the priority of those interests, and any limitations or exceptions. For example, it may specify that only certain equipment or receivables are pledged, or that the security interest is subordinate to pre-existing liens. Its core practical function is to clearly establish the scope and enforceability of the lender's claim over the borrower's assets, thereby reducing uncertainty and protecting the lender's position in the event of default.
Certain Security Interests. Notwithstanding any other provision set forth in this Agreement, any Lender may at any time create a security interest in all or any portion of its rights under this Agreement (including, without limitation, the Advances owing to it and any Note or Notes held by it) in favor of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System or any central bank in accordance with applicable law or regulation; provided that no such creation of a security interest shall release a Lender from any of its obligations hereunder or substitute such secured party for such Lender as a party hereto.
Certain Security Interests. Notwithstanding any other -------------------------- provision set forth in this Agreement, any Lender may at any time create a security interest in all or any portion of its rights under this Agreement or any other Loan Document (including the Advances owing to it and the Letter of Credit Exposure and the Notes held by it) in favor of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System.
Certain Security Interests. 29 ARTICLE 6COVENANTS OF BUYER
Certain Security Interests. In the event that any security interests held by any Person in any accounts receivable or notes receivable included in the Purchased Assets have not been obtained prior to the Closing, Seller agrees to (i) use its reasonable best efforts to obtain the release of such security interests as promptly as practicable after the Closing Date, and (ii) indemnify and hold Buyer and its Affiliates harmless against any and all liability, costs and expenses arising from the existence of such security interests after the Closing.