Common use of Debt Secured Clause in Contracts

Debt Secured. All collateral and property assigned, mortgaged, pledged or otherwise granted under or in connection with this Credit Agreement shall secure: (i) the payment of all principal of and interest owing or outstanding on any of the Revolving Note or the Revolving Loan, including, without limitation, future advances made by the Bank which are or may be evidenced by said Revolving Note, regardless of whether the Bank was obligated to make such advances; (ii) the payment of all amounts from time to time owing to the Bank under or in connection with this Credit Agreement or any of the Collateral Security Documents; (iii) the payment by the Borrowers of all reasonable costs and expenses (including attorneys' fees) incurred by the Bank in the collection of the Revolving Loan or any of the Revolving Note or in the enforcement of its rights under this Credit Agreement or the other Loan Documents; (iv) the payment by the Borrowers of all sums expended or advanced by the Bank pursuant to the terms of this Credit Agreement, any Collateral Security Document or any other Loan Document; (v) the performance by the Borrowers of all their obligations under this Credit Agreement, the Revolving Note, the Collateral Security Documents and the other Loan Documents; (vi) the performance by the Guarantor of all its obligations under the Guaranty; and (vii) the payment of any and all other indebtedness (including principal, interest or fees, if any) of any kind or description now or hereafter owing by the Borrowers to the Bank, including, without limitation, overdrafts, amounts owing under other notes, bonds, debentures, letters of credit, interest rate protection arrangements or other evidences of indebtedness and contingent obligations. All of the debt, liabilities and obligations described in clauses (i) through (vii) above shall be sometimes hereinafter referred to as the "Obligations."

Debt Secured. All collateral and property Except as otherwise provided herein or in the other Loan Documents, all Collateral assigned, mortgaged, pledged or otherwise granted by Borrowers and the Guarantors to Agent for the benefit of the Lenders or to the Lenders under or in connection with this Credit Agreement shall secure:secure all of the following obligations and liabilities (collectively the "Obligations"): (ia) the payment when due of all principal of and interest owing Indebtedness incurred by Borrowers to Agent and/or the Lenders at any time under or outstanding on any of the Revolving Note or the Revolving Loanin connection with this Agreement, including, without limitation, future advances made all of the principal of and interest on the Loan, fees provided to be paid by Borrowers to Agent and/or the Lenders herein, Related Expenses and any and all other amounts owed by Borrower to Agent and/or the Lenders at any time evidenced by the Bank which are or may be evidenced by said Revolving NoteNotes and/or pursuant to any provision of this Agreement, regardless of in all cases without regard to whether Agent and/or the Bank was Lenders were obligated to make any advance or incur any Related Expense comprising all or part of any such advancesIndebtedness; (iib) the payment of all amounts from time to time owing to Agent and/or the Bank Lenders under or in connection with this Credit Agreement or and/or any of the Collateral Security Documents; (iii) the payment by the Borrowers of all reasonable costs and expenses (including attorneys' fees) incurred by the Bank in the collection of the Revolving Loan or any of the Revolving Note or in the enforcement of its rights under this Credit Agreement or the other Loan Documents; (ivc) the payment by the Borrowers of all reasonable sums expended or sums advanced by Agent and/or the Bank Lenders pursuant to the terms of this Credit Agreement, any Collateral Security Document or any other Loan Document;; and (vd) the performance by Borrowers and the Borrowers Guarantors of all of their obligations under this Credit Agreement, the Revolving Note, the Collateral Security Documents Notes and the other Loan Documents; (vi) the performance by the Guarantor of all its obligations under the Guaranty; and (viie) the payment of any and all other indebtedness Indebtedness (including principal, interest or fees, if any) in respect of overdrafts for the account(s) of Borrowers and/or any kind or description now or hereafter owing by the Borrowers to the Bank, including, without limitation, overdrafts, amounts owing under other notes, bonds, debentures, letters of credit, interest rate protection arrangements or other evidences of indebtedness and contingent obligations. All of the debtGuarantors; provided, liabilities however, all amounts and obligations described in secured under preceding clauses (ia) through (vii) above d), inclusive, shall be sometimes hereinafter referred paid in full before proceeds realized from the Collateral are applied to as the "Obligationsobligations secured under this clause (e)."

Debt Secured. All collateral 3.1 This conveyance and property assignedDeed of Trust are made in Trust to secure payment of the indebtedness (hereinafter the “Debt”) executed by Grantors and payable to the persons and entities described in Exhibit “A” attached hereto, mortgaged, pledged or otherwise granted under or in connection with this Credit Agreement shall secureplus: (ia) any and all renewals or extensions of the Exhibit “A” indebtedness or any part thereof; (b) all loans and advances that Beneficiary may hereafter make to the Grantors, and any and all renewals or extensions of these amounts; and (c) all other debts, obligations, and liabilities owed by Grantors to Beneficiary, regardless of whether such debts, obligations and liabilities are direct or indirect, primary or secondary, joint, several, joint and several, fixed, or contingent, and regardless of whether such present or future debt, obligations and liabilities may, prior to their acquisition by Beneficiary, be or have been payable to, or be or have been in favor of, some other person, or have been acquired by Beneficiary in a transaction with one other than Grantors, together with any and all renewals and extensions of such debts, obligations, and liabilities, or any part thereof. (d) The words "Secured Indebtedness", “Debt” or “indebtedness” shall mean all of the indebtedness, obligations and liabilities described or referred to in this instrument. The word "Holder" shall also mean the holder of the Secured Indebtedness, Debt or indebtedness. 3.2 The Debt secured in this Agreement is payable as set forth in the individual instruments which together constitute the Debt. 3.3 This conveyance is also made in trust to secure and enforce the payment of all principal other indebtedness of Grantors to Beneficiary presently existing or which may in any manner or means hereafter be incurred by Grantors. 3.4 It is also expressly agreed and understood that any and all sums now owed to or advanced in the future by the Beneficiary to Grantors shall be payable as set forth in the instruments which together constitute the Debt, and shall bear interest owing or outstanding on as provided therein. 3.5 Default under any Security Agreement signed by Grantors in favor of the Revolving Note or Beneficiary shall be an event of default under this agreement, and the Revolving Loanbreach of any covenant under such Security Agreement shall give Beneficiary the right to accelerate the payment under each and all instruments constituting the Debt, includingand to invoke all of the rights under those instruments, without limitationSecurity Agreements, future advances made and accompanying Deeds of Trust, including this Deed of Trust. 3.6 The Liens created by this agreement shall continue in full force and effect until expressly released by the Bank which are or may be evidenced by said Revolving NoteBeneficiary, regardless of whether the Bank was obligated to make such advances; (ii) the payment of all amounts debt secured hereby may from time to time owing to the Bank under be paid in part or in connection with this Credit Agreement or any full. 3.7 Should Grantors do and perform all of the Collateral Security Documents; (iii) covenants and agreements in this instrument contained, and make prompt payment of all indebtedness as it shall become due and payable, then subject to any "future advances" or "other indebtedness" clauses contained in this agreement, this conveyance shall become null and void and of no further force and effect, and may be released, at the payment expense of Grantors, by the Borrowers of all reasonable costs and expenses Beneficiary, Secured Party, or Lender interchangeably (including attorneys' fees) incurred by the Bank in the collection of the Revolving Loan whether one or any of the Revolving Note or in the enforcement of its rights under this Credit Agreement or the other Loan Documents; (iv) the payment by the Borrowers of all sums expended or advanced by the Bank pursuant to the terms of this Credit Agreement, any Collateral Security Document or any other Loan Document; (v) the performance by the Borrowers of all their obligations under this Credit Agreement, the Revolving Note, the Collateral Security Documents and the other Loan Documents; (vi) the performance by the Guarantor of all its obligations under the Guaranty; and (vii) the payment of any and all other indebtedness (including principal, interest or fees, if any) of any kind or description now or hereafter owing by the Borrowers to the Bank, including, without limitation, overdrafts, amounts owing under other notes, bonds, debentures, letters of credit, interest rate protection arrangements or other evidences of indebtedness and contingent obligations. All of the debt, liabilities and obligations described in clauses (i) through (vii) above shall be sometimes hereinafter referred to as the "Obligationsmore)."