DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this Agreement:
DESCRIPTION OF OBLIGATION. (S). The following obligations ("Obligation" or "Obligations") are secured by this Agreement: (a) All debts, obligations, liabilities and agreements of Debtor to Bank, now or hereafter existing, arising directly or indirectly between Debtor and Bank whether absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation of law or otherwise, and all renewals, extensions or rearrangement of any of the above; (b) All costs incurred by Bank to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and realize upon the Collateral; (c) All debts, obligations, liabilities and agreements of Debtor to Bank of the kinds described in this Item 3., now existing or hereafter arising; (d) All other costs and attorney's fees incurred by Bank, for which Debtor is obligated to reimburse Bank in accordance with the terms of the Loan Documents (hereinafter defined), together with interest at the maximum rate allowed by law, or if none, Prime plus 3% per annum; and (e) All amounts which may be owed to Bank pursuant to all other loan documents executed between Bank and Debtor. If Debtor is not the obligor of the Obligation, and in the event any amount paid to Bank on any Obligation is subsequently recovered from Bank in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding, Debtor shall be liable to Bank for the amounts so recovered up to the fair market value of the Collateral whether or not the Collateral has been released or the security interest terminated. In the event the Collateral has been released or the security interest terminated, the fair market value of the Collateral shall be determined, at Bank's option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.
DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this agreement: (a) All debts, obligations, liabilities and agreements of Debtor to Bank, now or hereafter existing, arising directly or indirectly between Debtor and Bank whether absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation of law or otherwise, and all renewals, extensions or rearrangement of any of the above; (b) Bank's participation in any loan or other debt of Debtor to another person; (c) All costs incurred by Bank to obtain, preserve, perfect and enforce this agreement and maintain, preserve, collect and enforce the Collateral; (d) Interest on the above amounts as agreed between Bank and Debtor; (e) All debt, obligations and liabilities of
DESCRIPTION OF OBLIGATION. The following obligations (collectively, the "Obligations") are secured by this Agreement:
DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this Agreement: (a) All debts, obligations, liabilities and agreements of Debtor to Bank, now or hereafter existing, arising under the Loan Documents, including, without limitation, all of the "Obligations" as defined in the Loan Agreement referred to in Section 8 C. hereof; (b) All reasonable out-of-pocket costs incurred by Bank to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and realize upon the Collateral; and (c) All other COStS and attorney's fees incurred by Bank, for which Debtor is obligated to reimburse Bank in accordance with the terms of the Loan Documents (hereinafter defined), together with interest at Bank's prime rate. If Debtor is not the obligor of the Obligation, and in the event any amount paid to Bank on any Obligation is subsequently recovered from Bank in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding, Debtor shall be liable to Bank for the amounts so recovered up to the fair market value of the Collateral whether or not the Collateral has been released or the security interest terminated. In the event the Collateral has been released or the security interest terminated, the fair market value of the Collateral shall be determined, at Bank's option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.
DESCRIPTION OF OBLIGATION. The following obligations ("Obligation") are secured by this agreement: (a) All debts, obligations, liabilities and agreements of Debtor to Bank, now or hereafter existing, arising directly or indirectly between Debtor and Bank whether absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation of law or otherwise, and all renewals, extensions or rearrangement of any of the above, (b) Bank's participation in any loan or other debt of Debtor to another person; (c) All costs incurred by Bank to obtain, preserve, perfect and enforce this agreement and maintain, preserve, collect and enforce the Collateral; (d) Interest on the above amounts as agreed between Bank and Debtor; (e) All debt, obligations and liabilities of Elcotel, Inc., a Delaware corporation
DESCRIPTION OF OBLIGATION. All debt, obligations, liabilities and agreements of Westar under the Westar Guaranty (collectively, "Guaranty Obligation") are secured by this agreement.
DESCRIPTION OF OBLIGATION. (s). The following obligations ("Obligation" or "Obligations") are secured by this Agreement: (a) the Loans represented by Debtors' Note dated of even date in the principal sum of One Million and 00/100 Dollars ($1,000,000.00) and the Debtors' Note dated of even date in the original principal sum of One Million and 001100 Dollars ($1,000,000.00), and all other debts, obligations, liabilities and agreements of Debtors to Lender, now or hereafter existing, arising directly or indirectly between Debtors and Lender whether absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation of law or otherwise, whether or not evidenced by a note or other instrument and all renewals, extensions and rearrangements of any of the above; (b) All Costs incurred by Lender to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and realize upon the Collateral; (c) All other costs and expenses incurred by Lender, for which Debtors are obligated to reimburse Lender in accordance with the terms of the Loan Documents, together with interest at the Default Rate; (d) All amounts which may be owed to Lender pursuant to all other Loan Documents executed between Lender and Debtors; (e) the payment and performance by each Debtor of its obligations under all its Security Agreement in Favor of Fifth Third Bank agreements with Lender, as well as payment of any sums now, heretofore or hereafter owing to Lender, whether or not evidenced by any note or other instrument and whether or not for the payment of money, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, together with all interest thereon and costs of collection thereof, including reasonable attorneys' fees and expenses, including all renewals, reamortizations, deferments and extensions of the foregoing and including any debt liability or obligation originally owing to Lender; (f) all such future advances as may be made at the option of the Lender to any Debtor from time to time; (g) all obligations incurred by a Debtor under any agreement between a Debtor and Lender or any Lender affiliate now existing or hereafter entered into, which provides for an interest rate, currency, equity, credit or commodity swap, cap, floor or collar, spot or forward foreign exchange transaction, cross currency rate swap, currency option, or any combination of, or option with respe...
DESCRIPTION OF OBLIGATION. This Agreement creates a security interest in the Collateral to secure the payment and performance of any and all obligations now or hereafter existing of Pledgor and each Subsidiary of Pledgor (collectively, "Obligors") under the Credit Agreement and the other Loan Documents, including any extensions, modifications, substitutions, amendments and renewals thereof, whether for principal, interest, fees, premium, expenses, reimbursement obligations, indemnification or otherwise (all such obligations of Pledgor and each other Obligor being the "Secured Obligation"). Without limiting the generality of the foregoing, this Agreement secures the payment of all amounts which constitute part of the Secured Obligation and would be owed by Pledgor or any other Obligor to Agent or any other Secured Party under any Loan Document, but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding under any applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, insolvency, reorganization or similar debtor relief Laws affecting the rights of creditors generally from time to time in effect ("Debtor Relief Laws") involving Pledgor, any other Obligor or any other Person (including all such amounts which would become due or would be secured but for the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding of Pledgor, any other Obligor or any other Person under any Debtor Relief Law).
DESCRIPTION OF OBLIGATION. ISP has agreed to repay to KVN the $115,000.00 loan at 11% interest over 18 months at a payment of $7,443.05 per month with the personal guarantee of Mark Fincanxxx. XXX xxx xurther agreed to move certain equipment, set forth in Exhibit A hereto, from its present location in Cumming, Georgia to 337 Carowinxx Xxxxxxxxx, Xxxxx 000, Xx. Xxxx, Xxxxx Xxxxxxxx xxx xxx xxternet portal and websites created for or on behalf of KVN and its associated companies together with all associated software and computer hardware and all copyrighted proprietary intellectual property rights and interest associated therewith being assigned to Vision ISP, Inc. ISP will install the said equipment together with any additional equipment located at the site and secure the operational integrity of the installed system and equipment. ISP and Mark Fincanxxx, xxxxxxxxxlly, have agreed to maintain the internet portal service and television streaming then installed at Ft. Mill in optimum condition for a period of one year after installation. ISP will contemporaneously with this agreement assign the following domain names to the companies listed next thereto: kvn.cc Kingdom Vision Network, Inc. thevisionchxxxxx.xxx The Vision Network, Inc. thevisionchxxxxx.xxx The Vision Network, Inc. kvnstore.cox Kingdom Vision Network, Inc. visionisp.cxx Vision ISP, Inc. visionisp.nxx Vision ISP, Inc. the kingdomchanxxx.xxx Kingdom Vision Network, Inc. the kingdomchanxxx.xxx Kingdom Vision Network, Inc. the kingdomchanxxx.xxx Kingdom Vision Network, Inc. kingdomchanxxx.xxx Kingdom Vision Network, Inc. kingdomchanxxx.xxx Kingdom Vision Network, Inc. tkingdomchaxxxx.xxx Kingdom Vision Network, Inc.
