COMMERCIAL SECURITY AGREEMENT. Loan No: 13880 (Continued) Page 6 No Waiver by Lender. Lender shall not be deemed to have waived any rights under this Agreement unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Agreement shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Agreement. No prior waiver by Lender, nor any course of dealing between Lender and Grantor, shall constitute a waiver of any of Lender's rights or of any of Grantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Agreement, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender.
COMMERCIAL SECURITY AGREEMENT. This Addendum to Commercial Security Agreement is made to and a part of the Commercial Security Agreement, dated March 30, 2006 (the “Commercial Security Agreement”), signed and delivered by SUNCOAST HOLDINGS, INC., a Delaware corporation (“SH”), BRANDYWINE INSURANCE HOLDINGS, INC., a Delaware corporation (“BIH”) and PATRIOT RISK SERVICES, INC., a Delaware corporation (“PRS”) (SH, BIH and PRS collectively and jointly and severally referred to as “Debtor”), to Brooke Credit Corporation, a Kansas corporation (“Secured Party”). The Commercial Security Agreement paragraph on page 2 entitled “DEFAULT” is hereby deleted in its entirety and is replaced by the following: DEFAULT: Debtor shall be in default if an Event of Default continues under the terms of the Commercial Loan Agreement signed by Debtor of even date herewith after the expiration of any applicable notice, grace and/or cure periods.
COMMERCIAL SECURITY AGREEMENT. Seller's receipt ----------------------------- of the Commercial Security Agreement duly executed by Buyer and Chicago Cycle, Inc., a Nevada corporation in the form attached hereto as Exhibit G.
COMMERCIAL SECURITY AGREEMENT. (Continued) --------------------------------------------------------------------------------
COMMERCIAL SECURITY AGREEMENT. (f) UCC-1
COMMERCIAL SECURITY AGREEMENT. The provisions of that certain Commercial ------------------------------ Security Agreement dated July 20, 1999 (the "Security Agreement") and signed by Borrower are hereby reinstated in their original entirety and Borrower hereby reaffirms its grant to Bank of a security interest in the Collateral and on the terms described therein. Bank hereby releases any security interest in Borrower's assets to the extent not presently granted by the terms of the Security Agreement, as reinstated. Borrower shall execute and deliver to Bank such financing statements to perfect Bank's security interest in the Collateral described in the Security Agreement as Bank may reasonably request.
COMMERCIAL SECURITY AGREEMENT. Principal Loan Date Maturity Loan No. $150,000.00 06-23-2008 06-09-2009 930610000 ------------------- ----------------- ---------------- ----------------- ----------------- ---------------- ----------------- ----------------- Call / Coll Account Officer Initials RK /s/ RK ----------------- ---------------- ----------------- ----------------- References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item above containing "***" has been omitted due to text length limitations. Borrower: Lender: Amexdrug Corporation; Dermagen, Inc.; National Bank of California Biorx Pharmaceuticals, Inc.; Royal Corporate Banking Department Health Care, Inc.; and Allied Med Inc. 000 Xxxxx Xxxxxxx Xxxxxx 0000 Xxxx Xxxxxxx Xxxxxxxxx, Xxxxx 000 Xxx Xxxxxxx, XX 00000 Xxxxxxx Xxxxx, XX 00000 -------------------------------------------------------------------------------- THIS COMMERCIAL SECURITY AGREEMENT dated June 23, 2008, is made and executed among Amexdrug Corporation; Dermagen, Inc.; Biorx Pharmaceuticals, Inc. Royal Health Care, Inc.; and Allied Med Inc. ("Grantor") and National Bank of California ("Lender").
COMMERCIAL SECURITY AGREEMENT. Loan No: 930610000 (Continued) Page 4 -------------------------------------------------------------------------------- Hazardous Substances. Grantor represents and warrants that the Collateral never has been, and never will be so long as this Agreement remains a lien on the Collateral, used in violation of any Environmental Laws or for the generation, manufacture, storage, transportation, treatment, disposal, release or threatened release of any Hazardous Substance. The representations and warranties contained herein are based on Grantor's due diligence in investigating the Collateral for Hazardous Substances. Grantor hereby (1) releases and waives any future claims against Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other costs under any Environmental Laws, and (2) agrees to indemnify, defend, and hold harmless Lender against any and all claims and losses resulting from a breach of this provision of this Agreement. This obligation to indemnify and defend shall survive the payment of the Indebtedness and the satisfaction of this Agreement.
COMMERCIAL SECURITY AGREEMENT. Loan No: 930610000 (Continued) Page 6 -------------------------------------------------------------------------------- either in Lender's name or in Grantor's name. Additional Documents. Grantor shall at any time, from time to time, one or more times, upon Lender's written request, execute and deliver such further documents and do any and all such further acts and things as Lender may reasonably request, within Lender's sole discretion, to effect the purposes of this Agreement.
COMMERCIAL SECURITY AGREEMENT. (Continued) collateral document to create a valid and perfected security interest or lien) at any time and for any reason.
