Contract Collateral Sample Clauses

POPULAR SAMPLE Copied 1 times
Contract Collateral. Notwithstanding any provision of this Agreement, but subject to and without limiting Section 2.11, each of the parties hereto acknowledges and agrees that (i) any reference to assignment of any right, title or interest in and to any agreement, contract, contract right, chattel paper, instrument, letter of credit, document, lease, Governmental Approval or other similar right (collectively "Contract Collateral"), such assignment shall constitute only a grant of a collateral security interest and not an absolute assignment of rights under any Contract Collateral, and (ii) except as otherwise provided in the DE UCC, to the extent any grant of a collateral security interest in and to any Contract Collateral would result in the breach of the instrument, contract, agreement or other document evidencing or creating such Contract Collateral, such security interest shall be deemed to be made subject to obtaining any required consent and approval under such instrument, contract, agreement or other document for such grant of a security interest.
View SourceView Similar (5)
Contract Collateral. As used herein, “Contract Collateral” shall mean each Contract owned by the Borrowers and each of the following items with respect to such Contract: (a) the Contract Debtor Documents excluding Certificates of Title until such time as application has been made to transfer title to the related Contract Debtor; (b) the Contract Rights; (c) any payments from a bank account of, and any electronic funds transfers from, any Contract Debtor or Contract Rights Payor (subject to the terms and conditions of the Master Agency Agreement); (d) any associated chattel paper, lease, instrument, installment sale contract or installment loan contract; (e) all rights of a Borrower in and to the related Financed Vehicle, including any repossessed Financed Vehicle except if a Borrower includes the repossessed Financed Vehicle as an Eligible Vehicle, and in and to any other collateral securing such Contract, including any security deposit; (f) any contract purchase discount; (g) any rights of a Borrower to dealer reserves or rate participation with respect to such Contract, if any; (h) any money, payments or proceeds of any insurance policies with respect to any or all Contracts or any Financed Vehicles with respect to which a Borrower is solely or jointly the owner or is insured or is the loss payee or is a beneficiary, including any insurance proceeds; (i) all books and records of the Borrowers (including financial statements, accounting records, customer lists, credit files, computer programs, electronic data print-outs and other computer materials and records) with respect to such Contract; (j) all accessions to, substitutions for and all replacements and products of, any of the foregoing property; and (k) all money, instruments and other proceeds of the foregoing. Each secured creditor and transferee, purchaser and assignee of Contract Collateral will be a third party beneficiary of this provision.
View SourceView Similar (4)
Contract Collateral. Agent shall have the right to review any Contract Collateral.
View SourceView Similar (2)
Contract Collateral. 48 SECTION 6.16
View SourceView Similar (2)
Contract Collateral. (A) If any Proceeds or payment in respect of the Contract Collateral is received by Receivable Lender after the Receivable Lender Payoff and prior to its receipt of notice of the Inventory Lender Payoff, Receivable Lender shall receive and hold the same for the benefit of Inventory Lender and shall forthwith deliver the same to Inventory Lender in precisely the form received (except for the endorsement or assignment of Receivable Lender, without recourse, where necessary), for application on the Inventory Lender Debt, due or not due, and, until so delivered, the same shall be held by Receivable Lender as the property of Inventory Lender. In event of the failure of Receivable Lender to make any such endorsement or assignment to Inventory Lender, Inventory Lender, or any of its officers or employees, is hereby irrevocably authorized to make the same. (B) If any Proceeds or payment in respect of the Contract Collateral is received by Receivable Lender after the Receivable Lender Payoff and after its receipt of notice of the Inventory Lender Payoff, Receivable Lender shall receive and hold the same for the benefit of Collateral Agent and shall forthwith deliver the same to Collateral Agent in precisely the form received (except for the endorsement or assignment of Receivable Lender, without recourse, where necessary), for application on the Stock Lender Debt, due or not due, and, until so delivered, the same shall be held by Receivable Lender as the property of Collateral Agent. In event of the failure of Receivable Lender to make any such endorsement or assignment to Collateral Agent, Collateral Agent, or any of its officers or employees, is hereby irrevocably authorized to make the same.
View SourceView Similar (2)
Contract Collateral. (i) Collateral Agent's liens and security interests in and upon the Contract Collateral, whether now existing or hereafter arising pursuant to operation of law or otherwise, are hereby subordinated to Inventory Lender's and Receivable Lender's liens and security interests in the Contract Collateral and each holder of Stock Lender Debt, whether upon original issuance, transfer, assignment or exchange, agrees to be bound by the provisions of this Agreement. (ii) Inventory Lender's liens and security interests in and upon the Contract Collateral, whether now existing or hereafter arising pursuant to operation of law or otherwise, are hereby subordinated to Receivable Lender's liens and security interests in the Contract Collateral, and each holder of Inventory Lender Debt, by acceptance of all or any portion of the Inventory Lender Debt, whether upon original issuance, transfer, assignment or exchange, agrees to be bound by the provisions of this Agreement.
View Source
Contract Collateral. Lender agrees that the definition of "Collateral: in this Agreement may not be amended to include additional types of property without the consent of Greenwhich Capital Financial Products, Inc. and its successors and assigns and other lenders in connection with "warehouse" lending facilities so long as Greenwich Capital Financial Products or such successors and assigns remain as `warehouse' lenders. Lender further agrees that Lender shall not have any lien or security interest with respect to Contract Collateral. As used herein "Contract Collateral" shall mean each Contract owned by the Borrower and each of the following items with respect to such Contract: 21
View Source
Contract Collateral. (A) If any Proceeds of the Contract Collateral are received by Inventory Lender prior its receipt of notice of the Receivable Lender Payoff, Inventory Lender shall receive and hold the same for the benefit of Receivable Lender and shall forthwith deliver the same to Receivable Lender in precisely the form received (except for the endorsement or assignment of Inventory Lender, without recourse, where necessary), for application on the Receivables Obligations, due or not due, and, until so delivered, the same shall be held by Inventory Lender as the property of Receivable Lender. In the event of the failure of Inventory Lender to make any such endorsement or assignment to Receivable Lender, Receivable Lender, or any of its officers or employees, is hereby irrevocably authorized to make the same. (B) If any Proceeds or payment in respect of the Contract Collateral is received by Inventory Lender after the Inventory Lender Payoff and after its receipt of notice of the Receivable Lender Payoff, Inventory Lender shall receive and hold the same for the benefit of Collateral Agent and shall forthwith deliver the same to Collateral Agent in precisely the form received (except for the endorsement or assignment of Inventory Lender, without recourse, where necessary), for application on the Stock Lender Debt, due or not due, and, until so delivered, the same shall be held by Inventory Lender as the property of Collateral Agent. In event of the failure of Inventory Lender to make any such endorsement or assignment to Collateral Agent, Collateral Agent, or any of its officers or employees, is hereby irrevocably authorized to make the same.
View Source
Contract Collateral. Subject to Section 6(d) below, until payment in full of the Receivables Obligations, Receivable Lender shall have the exclusive right (i) to manage, perform and enforce the terms of the Receivables Loan Documents with respect to the Contract Collateral, (ii) to exercise and enforce all privileges and rights thereunder according to its discretion and the exercise of its business judgment including, but not limited to, the exclusive right to take or retake possession of the Contract Collateral and (iii) to hold, prepare for sale, process, sell, lease, dispose of, or liquidate the Contract Collateral, pursuant to a foreclosure or otherwise. Notwithstanding anything to the contrary contained in any document, instrument or agreement evidencing, securing or otherwise executed in connection with the incurrence of the Inventory Lender Debt or Stock Lender Debt, until payment in full of the Receivables Obligations the Receivable Lender alone shall have the right to restrict or permit, or approve or disapprove, the sale, transfer or other disposition of Contract Collateral. Accordingly, should Receivable Lender elect to exercise its rights and remedies with respect to any of the Contract Collateral, Receivable Lender may proceed to do so without regard to any interest of Inventory Lender or Collateral Agent, and each of Inventory Lender and Collateral Agent waives any claims that it may have against Receivable Lender for any disposition of the Contract Collateral made in good faith. Each of Inventory Lender and Collateral Agent agrees, whether or not a default has occurred in the payment of the Inventory Lender Debt or the performance of any other obligations to either of them, that any liens on and security interests in any portion of the Contract Collateral transferred or otherwise disposed of by Receivable Lender and/or its agents that Inventory Lender or Collateral Agent might have or acquire shall automatically be fully released ipso facto as to all indebtedness and other obligations secured thereby owing to Inventory Lender or Collateral Agent if and when Receivable Lender releases its lien in and security interest on such portion of the Contract Collateral that is transferred or otherwise disposed of by Receivable Lender and/or its agents.
View Source

Related to Contract Collateral

  • Collateral Each of the Banks represents to the Agent and each of the other Banks that it in good faith is not relying upon any "margin stock" (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for in this Agreement.

  • Assemble Collateral Lender may require Grantor to deliver to Lender all or any portion of the Collateral and any and all certificates of title and other documents relating to the Collateral. Lender may require Grantor to assemble the Collateral and make it available to Lender at a place to be designated by Lender. Lender also shall have full power to enter upon the property of Grantor to take possession of and remove the Collateral. If the Collateral contains other goods not covered by this Agreement at the time of repossession, Grantor agrees Lender may take such other goods, provided that Lender makes reasonable efforts to return them to Grantor after repossession.

  • Security Interest and Collateral To secure the payment and performance of the Obligations, Borrower hereby grants Lender a security interest (herein called the "Security Interest") in the following Collateral, whether now owned or hereafter acquired by Borrower and wherever located, and all products and proceeds thereof: (a) Crops, whether annual or perennial, whether grown, growing or to be grown, and whether harvested or unharvested, the products and proceeds thereof and stored grain (including all of the foregoing designated as inventory) and any negotiable or nonnegotiable documents, scale tickets and the like resulting from the storage thereof; also seed, fertilizer, chemicals, and other supplies used or produced by Borrower in farming operations; also accounts, contract rights (including proceeds from insurance policies covering the other Collateral), instruments, documents and general intangibles, whether now owned or hereafter acquired and wherever located; hedging and commodity accounts or agreements, now or hereafter or in effect, together with all rights in and to such accounts or agreements and all payments due or to become due thereunder. (b) Livestock (including livestock in gestation) and their young, products and proceeds and progeny thereof and produce thereof, including all livestock designated as inventory; also feed, medicines and other supplies used or produced by Borrower in farming operations; also accounts, contract rights (including proceeds from insurance policies covering the other Collateral), instruments, documents and general intangibles, whether now owned or hereafter acquired and wherever located; hedging and commodity accounts or agreements, now or hereafter or in effect, together with all rights in and to such accounts or agreements and all payments due or to become due thereunder. (c) All of Borrower’s equipment and machinery, and all accessions and attachments thereto and replacements and substitutions therefore (the Equipment). Borrower shall not remove any of the Collateral from locations disclosed in this Agreement, nor sell, convey or encumber said Collateral, provided, however, that Borrower may sell said Collateral or any part thereof if, and only if: (i) the proceeds of such sale are made payable jointly to Lender and Borrower if requested by ▇▇▇▇▇▇, it being specifically understood and agreed that all Obligations secured by the Collateral to the extent of the sale price shall be due and payable at the time of such sale; and (ii) Borrower sells the Collateral only to buyers listed on the Credit Application if required pursuant to the terms of Subsection 2(c) below.

  • Possessory Collateral Immediately upon Borrower's receipt of any portion of the Collateral evidenced by an agreement, Instrument or Document, including, without limitation, any Tangible Chattel Paper and any Investment Property consisting of certificated securities, Borrower shall deliver the original thereof to Lender together with an appropriate endorsement or other specific evidence of assignment thereof to Lender (in form and substance acceptable to Lender). If an endorsement or assignment of any such items shall not be made for any reason, Lender is hereby irrevocably authorized, as Borrower's attorney and agent-in-fact, to endorse or assign the same on Borrower's behalf.

  • Cap Collateral Reserved.