Common use of Creation of Security Interest Clause in Contracts

Creation of Security Interest. The Debtor hereby grants to the Secured Party a security interest in the collateral described in Section 2 below to secure the payment of the Debtor's Obligations to the Secured Party described in Section 3 below.

Appears in 2 contracts

Samples: Security Agreement (Asa International LTD), Security Agreement (Asa International LTD)

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Creation of Security Interest. The To secure the performance and payment of the obligations of Debtor to Secured Party pursuant to the provisions of Paragraph 3 hereof, Debtor hereby grants to the Secured Party a present security interest in the collateral Collateral described in Section Paragraph 2 below hereof, and in its expectancy to secure acquire the payment Collateral in the ordinary course of the Debtor's Obligations to the Secured Party described in Section 3 belowbusiness.

Appears in 2 contracts

Samples: Security Agreement (Benefitfocus,Inc.), Security Agreement (Benefitfocus,Inc.)

Creation of Security Interest. The Debtor hereby grants to the Secured Party a security interest in all of Debtor's right, title and interest in and to the collateral described in Section 2 below (the "Collateral") in order to secure the payment and performance of the Debtor's Obligations obligations of Debtor to the Secured Party described in Section 3 below.

Appears in 1 contract

Samples: Stock Purchase Agreement (Intracel Corp)

Creation of Security Interest. The 3.1 As a continuing security for the payment, performance and discharge of the Secured Obligations, so that the Secured Party shall have a first priority security interest in the Collateral pursuant to the Law, the Debtor hereby grants assigns, transfers and/or otherwise makes over to the Secured Party a security interest in title to the collateral described in Section 2 below Collateral pursuant to secure the payment section 1(6) of the Debtor's Obligations to the Secured Party described in Section 3 belowLaw.

Appears in 1 contract

Samples: greshamhouse.com

Creation of Security Interest. The Debtor hereby grants to the Secured Party Parties a subordinate security interest in all of Debtor's right, title and interest in and to the collateral described in Section 2 below (the "Collateral") in order to secure the payment and performance of the Debtor's Obligations obligations of Debtor to the Secured Party Parties described in Section 3 belowbelow (the "Security Interest").

Appears in 1 contract

Samples: Security Agreement (Sled Dogs Co)

Creation of Security Interest. The Debtor hereby assigns, pledges and ----------------------------- grants to the Secured Party a security interest in all of Debtor's right, title and interest in and to the collateral described in Section 2 below hereinbelow (the "COLLATERAL") in each case whether now owned or hereafter acquired by Debtor in order to secure the payment and performance of the Debtor's Obligations obligations of Debtor to the Secured Party described in Section 3 belowhereinbelow.

Appears in 1 contract

Samples: Security Agreement (Coast Resorts Inc)

Creation of Security Interest. The 2.01 To secure the repayment of the Debtor's Liabilities, the Debtor hereby grants to the Secured Party a security interest in the collateral described in Section 2 below to secure the payment Collateral and all proceeds and products thereof, including without limitation, insurance proceeds of the Debtor's Obligations to the Secured Party described in Section 3 belowCollateral.

Appears in 1 contract

Samples: Security Agreement (Green Power Energy Holdings Corp)

Creation of Security Interest. The Debtor hereby grants to the Secured Party a continuing security interest in the collateral described Collateral, and in Section 2 below all of Debtor's present and hereafter acquired right, title and interest in and to secure the Collateral, for the purpose of securing payment of the Debtor's Obligations all indebtedness, obligations and liabilities of Debtor to the Secured Party described in Section 3 belowarising under the Note.

Appears in 1 contract

Samples: Security Agreement (Centennial Technologies Inc)

Creation of Security Interest. The Debtor hereby grants to the Secured Party a security interest in and mortgages the collateral property owned by Debtor (except such property listed on Exhibit C attached hereto) and described in Section 2 below as follows (hereinafter referred to secure collectively as the payment of the Debtor's Obligations to the Secured Party described in Section 3 below."Collateral"):

Appears in 1 contract

Samples: Security Agreement (Metal Management Inc)

Creation of Security Interest. The Subject to Sections 2.3 and 2.4, as continuing security for the due and timely payment and performance by the Debtor of the Obligations, the Debtor hereby grants to the Secured Party Party, as collateral agent for and on behalf of the Holders, a security interest and floating charge (the "SECURITY INTEREST") in the collateral described in Section 2 below to secure the payment of the Debtor's Obligations to the Secured Party described in Section 3 belowCollateral.

Appears in 1 contract

Samples: General Security Agreement (Mitel Networks Corp)

Creation of Security Interest. The Debtor hereby grants to 3.1 As a continuing security for the payment, performance and discharge of the Secured Obligations, so that the Secured Party shall have a first priority security interest in the collateral described in Section 2 below to secure the payment of the Debtor's Obligations Collateral pursuant to the Secured Party described in Section 3 below.Law, the Debtor hereby:

Appears in 1 contract

Samples: greshamhouse.com

Creation of Security Interest. The Debtor hereby grants to the Security Party and the Secured Party hereby accepts, a first and second security interest interest, respectively, in the collateral described in Section Paragraph 2 below herein to secure the payment of the Debtor's Obligations to Debt by Debtor in accordance with the terms set forth in the Loan Agreement and the Note. The Debtor hereby authorizes the Secured Party described to file such financing statements or amendments thereof as may be necessary in Section 3 belowthe form provided in Article 9 of the Uniform Commercial Code to perfect the security interests herein created in the collateral hereinafter described.

Appears in 1 contract

Samples: Security Agreement (SmartPros Ltd.)

Creation of Security Interest. The Debtor hereby grants to the Secured Party a security interest in the collateral Collateral described in Section 2 below Paragraph II to secure the payment and performance of the all obligations and indebtedness of Debtor's Obligations , existing and future, owing to the Secured Party described in Section 3 belowcreated or incurred pursuant to this Security Agreement.

Appears in 1 contract

Samples: And Assumption Agreement (Horizon Organic Holding Corp)

Creation of Security Interest. The Debtor hereby Borrower grants to the Secured Party a security interest in the collateral described in Section 2 below of this Security Agreement to secure the performance and payment of the Debtor's Obligations all obligations and “Indebtedness” (hereinafter defined) of Borrower to Secured Party pursuant to the Secured Party described in Section 3 belowNote.

Appears in 1 contract

Samples: Security Agreement (ONE Bio, Corp.)

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Creation of Security Interest. The Debtor hereby grants to the Secured Party a security interest in all of Debtor's right, title and interest in and to the collateral described Collateral, as defined in Section 2 below Subsection 1(b) below, in order to secure the payment and performance of the Debtor's Obligations obligations of Debtor to the Secured Party described in Section 3 Subsection 1(d) below.

Appears in 1 contract

Samples: Security Agreement (Micro Therapeutics Inc)

Creation of Security Interest. The Debtor hereby grants to the Secured Party a lien and security interest in the collateral described in Section 2 below Collateral to secure the payment of the Debtor's Obligations to the Secured Party described in Section 3 belowIndebtedness.

Appears in 1 contract

Samples: Loan Agreement (Americabilia Com Inc)

Creation of Security Interest. The 3.1 Subject to the provisions of 3.2 hereof, Debtor hereby grants to the Secured Party a continuing security interest in all presently existing and hereafter acquired or arising Collateral in order to secure the prompt payment and performance of all of the Obligations. Such security interest in the collateral described in Section 2 below Collateral shall attach to secure all Collateral without further act on the payment part of the secured Party or Debtor's Obligations to the Secured Party described in Section 3 below.

Appears in 1 contract

Samples: Security Agreement (New Frontier Media Inc /Co/)

Creation of Security Interest. The Debtor hereby grants to the Secured Party a security interest in all of Debtor's right, title and interest in and to the collateral described in Section 2 below hereinbelow (the "Collateral") in order to secure the payment and performance of the Debtor's Obligations obligations of Debtor to the Secured Party described in Section 3 belowhereinbelow (the "Security Interest").

Appears in 1 contract

Samples: Security Agreement (Lund International Holdings Inc)

Creation of Security Interest. The In consideration for new value received by the Debtor from the Secured Party, the Debtor hereby grants conveys to the Secured Party, intending to create in favor of and to grant to the Secured Party a first priority security interest in the collateral described in Section 2 below to secure the payment of the and a continuing Lien upon, all Debtor's Obligations right, title and interest, both legal and equitable, in and to all the Secured Party described in Section 3 belowCollateral.

Appears in 1 contract

Samples: Practice Management Agreement (Physician Health Corp)

Creation of Security Interest. The Debtor hereby grants to the Security Party and the Secured Party hereby accepts, a first and second security interest respectively, in the collateral described in Section Paragraph 2 below herein to secure the payment of the Debtor's Obligations to Debt by Debtor in accordance with the terms set forth in the Loan Agreement and the Note. The Debtor hereby authorizes the Secured Party described to file such financing statements or amendments thereof as may be necessary in Section 3 belowthe form provided in Article 9 of the Uniform Commercial Code to perfect the security interests herein created in the collateral hereinafter described.

Appears in 1 contract

Samples: Security Agreement (SmartPros Ltd.)

Creation of Security Interest. The Debtor Debtors hereby grants grant a ----------------------------- security interest to the Secured Party a security interest in the collateral Collateral described in Section 2 below 1.02 of this Agreement to secure and enforce the performance and payment of the Debtor's Obligations to the all Secured Party described Obligations, now or hereafter existing in Section 3 belowfavor of Secured Party, and all substitutions, renewals, extensions, rearrangements and modifications thereof.

Appears in 1 contract

Samples: Security Agreement (Mail Well Inc)

Creation of Security Interest. The As general and continuing security for the due payment, observance, and performance by the Debtor of the Obligations, the Debtor hereby grants to the Secured Party a security interest Security Interest in the collateral described in Section 2 below to secure the payment of the Debtor's Obligations to the Secured Party described in Section 3 below.Collateral.‌

Appears in 1 contract

Samples: Amended and Restated Unit Purchase Loan Agreement

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