Creation of a Security Interest Sample Clauses

Creation of a Security Interest. The Grantor hereby grants and conveys to the Beneficiary as security for the Indebtedness a security interest (a) in the Equipment, including, without limitation, any and all property of a similar type or kind hereafter located on or at the Property and owned by the Grantor, and (b) in any and all intangible property of the Grantor now or hereafter used in, arising out of, or relating to the ownership, development, management, operation or use of the Property, including, without limitation, (1) documents, instruments, accounts, chattel paper, general intangibles and proceeds (as each of such terms is defined in the UCC), (2) architectural and engineering plans and specifications for the Property or any portion thereof, (3) escrow accounts, insurance policies and business records of or with respect to the Property, (4) any and all of the Grantor's rights, if any to (i) all warranties and guarantees by manufacturers, suppliers and installers pertaining to any of the Improvements or the Equipment, for the purpose of securing all of the indebtedness.
Sample 1
AutoNDA by SimpleDocs
Creation of a Security Interest. This Mortgage shall be self-operative and shall constitute a security agreement pursuant to the provisions of the New Mexico UCC with respect to the Collateral that constitutes personal property under the New Mexico UCC. Upon Default, the Mortgagee shall have the rights and remedies of a secured party under the New Mexico UCC as well as all other rights and remedies available under this Mortgage and at law or in equity, and, at the Mortgagee’s option, the Mortgagee may also invoke the remedies provided elsewhere in this Mortgage as to such Collateral. The Mortgagor and the Mortgagee agree that the rights granted to the Mortgagee as secured party under this Article 5 are in addition to rather than a limitation on any of the Mortgagee’s other rights under this Mortgage with respect to the Collateral.
Sample 1
Creation of a Security Interest. As security for payment of the Note to Investor when due, the Company hereby grants to Investor a security interest in the collateral described in paragraph 2 below (the “Collateral”). To perfect the security interest created hereby, the Company shall execute and deliver to Investor any and all documents reasonably requested for such perfection by Investor.
Sample 1
Creation of a Security Interest. As security for the payment of all amounts due under this agreement, the Note, or any other agreement or instrument executed in connection therewith, Debtor hereby grants to the Lender an undivided security interest in the Collateral.
Sample 1
Creation of a Security Interest. As security for payment of the Indebtedness (as defined below) of Debtor to Secured Party when and as due, Debtor hereby grants Secured Party a security interest in the collateral described in Section 2 below (the "COLLATERAL"). For purposes of this Agreement, "INDEBTEDNESS" shall mean the Equity Payout, the Deferred Payments and all obligations and liabilities of Debtor to Secured Party under this Agreement and the Note in the amount of $11,000,000, including any extensions, modifications or renewals thereof. The security interest granted hereby shall be and remain a first and prior security interest in all of the Collateral.
Sample 1
Creation of a Security Interest. As security for payment of the Note and any and all other sums (whether principal, interest, fees or otherwise) which are now or at any time may become payable by the Borrower under any financial agreement with the Lender to which it is a party (the "RELEVANT INDEBTEDNESS"), the Company hereby grants the Lender a security interest in the Collateral (defined below). To perfect the security interest created hereby, in addition to the other obligations of the Company hereunder, the Company shall execute and deliver to the Lender any and all documents deemed necessary by the Lender for such perfection. Upon termination of this Deed (defined in Section 8 below) and the security interest described herein, the Lender shall execute and deliver to the Company any and all documents deemed necessary by the Company for the termination of such security interest.
Sample 1
Creation of a Security Interest. As security for payment of the ------------------------------- Indebtedness (as defined below) of Debtor to the Secured Parties when and as due, Debtor hereby grants the Secured Parties a security interest in the collateral described in Section 2 below (the "Collateral"). For purposes of this Agreement, "Indebtedness" shall mean all obligations and liabilities of Debtor to Secured Parties under this Agreement, the Purchase Agreement and the Notes, including any extensions, modifications or renewals thereof. The security interest granted hereby (the "Security Interest") shall be and remain a ----------------- first and prior security interest in all of the Collateral.
Sample 1
AutoNDA by SimpleDocs
Creation of a Security Interest 
Sample 1Sample 2Sample 3See All (4)

Related to Creation of a Security Interest

  • Grant of a Security Interest It is the express intent of the parties hereto that the conveyance of the Mortgage Loans by the Seller to the Purchaser as provided in Section 2 hereof be, and be construed as, a sale of the Mortgage Loans by the Seller to the Purchaser and not as a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller. However, if, notwithstanding the aforementioned intent of the parties, the Mortgage Loans are held to be property of the Seller, then, (a) it is the express intent of the parties that such conveyance be deemed a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller, and (b) (i) this Agreement shall also be deemed to be a security agreement within the meaning of Article 9 of the Uniform Commercial Code of the applicable jurisdiction; (ii) the conveyance provided for in Section 2 hereof shall be deemed to be a grant by the Seller to the Purchaser of a security interest in all of the Seller's right, title and interest in and to the Mortgage Loans, and all amounts payable to the holder of the Mortgage Loans in accordance with the terms thereof, and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, including, without limitation, all amounts, other than investment earnings, from time to time held or invested in the Certificate Account, the Distribution Account or, if established, the REO Account (each as defined in the Pooling and Servicing Agreement) whether in the form of cash, instruments, securities or other property; (iii) the assignment to the Trustee of the interest of the Purchaser as contemplated by Section 1 hereof shall be deemed to be an assignment of any security interest created hereunder; (iv) the possession by the Trustee or any of its agents, including, without limitation, the Custodian, of the Mortgage Notes, and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be possession by the secured party for purposes of perfecting the security interest pursuant to Section 9-313 of the Uniform Commercial Code of the applicable jurisdiction; and (v) notifications to persons (other than the Trustee) holding such property, and acknowledgments, receipts or confirmations from persons (other than the Trustee) holding such property, shall be deemed notifications to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the secured party for the purpose of perfecting such security interest under applicable law. The Seller and the Purchaser shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement and the Pooling and Servicing Agreement.

  • Creation of Security Interest Notwithstanding any other provision set forth in this Agreement, the Note, the Mortgage or any of the other Loan Documents, Lender may at any time create a security interest in all or any portion of its rights under this Agreement, the Note, the Mortgage and any other Loan Document (including the advances owing to it) in favor of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System.

  • Valid Security Interest This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Sold Property in favor of the Issuer, which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and purchasers from the Depositor.

  • Pledge; Grant of Security Interest Each Pledgor hereby delivers to the Administrative Agent, for the benefit of the Secured Parties, all of such Pledgor's Pledged Stock and hereby grants to Administrative Agent, for the benefit of the Secured Parties, a first security interest in the Collateral, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations.

  • Perfection of Security Interest Each Borrower shall take all action that may be necessary or desirable, or that Agent may request, so as at all times to maintain the validity, perfection, enforceability and priority of Agent’s security interest in and Lien on the Collateral or to enable Agent to protect, exercise or enforce its rights hereunder and in the Collateral, including, but not limited to, (i) immediately discharging all Liens other than Permitted Encumbrances, (ii) obtaining Lien Waiver Agreements, (iii) delivering to Agent, endorsed or accompanied by such instruments of assignment as Agent may specify, and stamping or marking, in such manner as Agent may specify, any and all chattel paper, instruments, letters of credits and advices thereof and documents evidencing or forming a part of the Collateral, (iv) entering into warehousing, lockbox and other custodial arrangements satisfactory to Agent, and (v) executing and delivering financing statements, control agreements, instruments of pledge, mortgages, notices and assignments, in each case in form and substance satisfactory to Agent, relating to the creation, validity, perfection, maintenance or continuation of Agent’s security interest and Lien under the Uniform Commercial Code or other Applicable Law. By its signature hereto, each Borrower hereby authorizes Agent to file against such Borrower, one or more financing, continuation or amendment statements pursuant to the Uniform Commercial Code in form and substance satisfactory to Agent (which statements may have a description of collateral which is broader than that set forth herein). All charges, expenses and fees Agent may incur in doing any of the foregoing, and any local taxes relating thereto, shall be charged to Borrowers’ Account as a Revolving Advance of a Domestic Rate Loan and added to the Obligations, or, at Agent’s option, shall be paid to Agent for its benefit and for the ratable benefit of Lenders immediately upon demand.

  • Security Interest This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Issuer, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller.

  • Grant of Security Interest in Collateral As an inducement for the Secured Parties to extend the loans as evidenced by the Debentures and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the Obligations, each Debtor hereby unconditionally and irrevocably pledges, grants and hypothecates to the Secured Parties a security interest in and to, a lien upon and a right of set-off against all of their respective right, title and interest of whatsoever kind and nature in and to, the Collateral (a “Security Interest” and, collectively, the “Security Interests”).

  • Priority of Security Interest Borrower represents, warrants, and covenants that the security interest granted herein is and shall at all times continue to be a first priority perfected security interest in the Collateral (subject only to Permitted Liens that are permitted pursuant to the terms of this Agreement to have superior priority to Bank’s Lien under this Agreement). If Borrower shall acquire a commercial tort claim, Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Bank.

  • Grant of Security Interest All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts with the Administrative Agent. The Borrower, and to the extent provided by any Lender or Defaulting Lender, such Lender or Defaulting Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Lender and the L/C Lenders, and agrees to maintain, a first priority security interest and Lien in all such Cash Collateral and in all proceeds thereof, as security for the Obligations to which such Cash Collateral may be applied pursuant to Section 3.10(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent or any Issuing Lender as herein provided, or that the total amount of such Cash Collateral is less than 105% of the applicable L/C Exposure, Fronting Exposure and other Obligations secured thereby, the Borrower or the relevant Lender or Defaulting Lender, as applicable, will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by such Defaulting Lender).

  • Grant of Security Interest in Copyright Collateral Each Pledgor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor:

Time is Money Join Law Insider Premium to draft better contracts faster.