Common use of Description of Obligations Clause in Contracts

Description of Obligations. The following obligations (“Obligations”) are secured by this Agreement: (a) All debts, obligations, liabilities and agreements of Borrower to Secured Party, now or hereafter existing, arising directly or indirectly between Borrower and Secured Party 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 Secured Party to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and enforce the Collateral; (c) All debts, obligations, liabilities and agreements of Borrower to Secured Party under this Agreement; (d) Interest on the above amounts determined in accordance with applicable agreements between Secured Party and Borrower; (e) All indebtedness, liabilities and obligations of Borrower to Secured Party under the Loan Agreement dated even date herewith (the “Loan Agreement”) between Borrower and Secured Party and all renewals, extensions and modifications thereof; (f) all indebtedness, liabilities and obligations of Borrower to Secured Party under that certain Promissory Note dated of even date herewith in the maximum stated principal amount of $15,000,000.00 (the “Note”) payable by Borrower to the order of Secured Party and all renewals, extensions and modifications thereof; (g) all reasonable expenses of Secured Party, including reasonable fees and expenses of Secured Party’s counsel, incident to the enforcement of payment of all obligations of the Borrower by any action or participation in, or in connection with a case or proceeding under the Bankruptcy Code, or any successor statute thereto.. In the event any amount paid to Secured Party on any of the Obligations is subsequently recovered from Secured Party in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding involving an obligor of the Obligations other than Borrower, Borrower shall be liable to Secured Party 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 Secured Party’s option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.

Description of Obligations. The This Agreement creates an enforceable security interest in the Collateral to secure the payment and performance of the following obligations (collectively, “Secured Obligations”) are secured by this Agreement: (a) ): All debtsdebt, obligations, liabilities and agreements of Borrower any nature of the Grantors to the Secured Parties or any Secured Party, whether matured or unmatured, fixed or contingent, including all future advances, now or hereafter existing, arising directly pursuant to or indirectly between Borrower in connection with (i) this Agreement; (ii) the obligations of the Grantors under the Credit Agreement and the other Loan Documents (as defined in the Credit Agreement and used herein), including but not limited to principal, interest, premiums, fees, expenses and indemnities; (iii) the obligations of the Grantors under the Note Purchase Agreements, the Notes and the other Note Documents, including but not limited to, principal, interest, premiums, any Make-Whole Amount (as defined in the Note Purchase Agreements), fees, expenses and indemnities; and (iv) all amendments, modifications or supplements (but not any replacements or refinancings unless consented to in writing by the Required Secured Party whether absolute or contingent, joint or several, secured or unsecured, due or not due, contractual or tortious, liquidated or unliquidated, arising by operation Parties as defined in Section 5.2 of law or otherwise, and all renewals, extensions or rearrangement this Agreement) of any of the above; (b) foregoing. All costs incurred by any Secured Party to obtain, preserve, perfect and enforce this Agreement Agreement, the pledge and security interest granted hereby, collect the Secured Obligations, and maintain, preserve, collect and enforce the Collateral; (c) All debts, obligationsincluding, liabilities without limitation, taxes, assessments, reasonable attorneys’ fees and agreements legal expenses, and expenses of Borrower to Secured Party under this Agreement; (d) sale. Interest on the above amounts determined as agreed between the Borrower and the Secured Parties, including, without limitation, interest, fees and other charges that would accrue or become owing both prior to and subsequent to and but for the commencement of any proceeding against or with respect to the Borrower under any chapter of the Bankruptcy Cxxx xx 0000, 00 X.X.X. §000 et seq. whether or not a claim is allowed for the same in accordance with applicable agreements between any such proceeding, Without limiting the generality of the foregoing, this Agreement secures the payment of all amounts which constitute part of the Secured Party Obligations and Borrower; (e) All indebtedness, liabilities and obligations of Borrower would be owed by any Grantor to any Secured Party under the Credit Agreement, any other Loan Agreement dated even date herewith (Document, the “Loan Agreement”) between Borrower and Secured Party and all renewalsNote Purchase Agreements, extensions and modifications thereof; (f) all indebtednessthe Notes or any other Note Document, liabilities and obligations of Borrower to Secured Party under but for the fact that certain Promissory Note dated of even date herewith in the maximum stated principal amount of $15,000,000.00 (the “Note”) payable by Borrower they are unenforceable or not allowable due to the order existence of Secured Party and a bankruptcy, reorganization or similar proceeding under any Debtor Law involving such Grantor or any other Person (including all renewalssuch amounts which would become due or would be secured but for the filing of any petition in bankruptcy, extensions and modifications thereof; (g) all reasonable expenses or the commencement of Secured Partyany insolvency, including reasonable fees and expenses reorganization or like proceeding of Secured Party’s counselsuch Grantor or any other Person under any Debtor Law. With respect to each Grantor other than the Borrower, incident notwithstanding anything herein to the enforcement of payment of all obligations of the Borrower by contrary, in any action or participation in, or in connection with a case or proceeding under the Bankruptcy Codeinvolving any state corporate law, or any successor statute thereto.. In state or federal bankruptcy, insolvency, reorganization or other law affecting the event rights of creditors generally if the security interests granted by any such Grantor herein shall be held void, invalid or unenforceable, or subordinated to the liens or claims of any other creditors, on account of the amount paid to of the Secured Obligations secured by such security interests, then, the amount of the Secured Obligations secured by such security interests shall, without any action by such Grantor, the Collateral Agent, any other Secured Party on or any of the Obligations is subsequently recovered from Secured Party in or as a result of any bankruptcyother Persons, insolvency or fraudulent conveyance proceeding involving an obligor of the Obligations other than Borrower, Borrower shall be liable to Secured Party for the amounts so recovered up automatically limited and reduced to the fair market value of the Collateral whether highest amount that is valid and enforceable as determined in such action 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 Secured Party’s option, as of the date the Collateral was released, the security interest terminated, or said amounts were recoveredproceeding.

Description of Obligations. The following obligations (“Obligations”) are secured by this Agreement: (a) All all debts, obligations, liabilities and agreements of Borrower XXXXX XXXXXX (“Borrower”), to Secured PartyBank, now or hereafter existing, arising directly or indirectly between Borrower and Secured Party 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 all costs incurred by Secured Party Bank to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and enforce the Collateral; (c) All all debts, obligations, liabilities and agreements of Borrower Pledgor to Secured Party Bank under this Agreement; (d) Interest interest on the above amounts determined in accordance with applicable agreements between Secured Party Bank and Pledgor or between Bank and Borrower; (e) All all indebtedness, liabilities and obligations of Borrower to Secured Party Bank under the Loan Agreement dated even date herewith hereof (the “Loan Agreement”) between Borrower and Secured Party Bank and all renewals, extensions and modifications thereof; (f) all indebtedness, liabilities and obligations of Borrower to Secured Party Bank under that certain the Promissory Note dated of even the date herewith in the maximum stated principal amount of $15,000,000.00 hereof (the “Note”) in the stated principal amount of $300,000 payable by Borrower to the order of Secured Party Bank and all renewals, extensions and modifications thereof; (g) all indebtedness, liabilities and obligations of Borrower to Bank under that certain Promissory Note dated on or about December 15, 2008 (as subsequently, renewed, modified, and amended, “Loan #86918”) in the original stated principal amount of $2,000,000.00 payable by Borrower to the order of Bank and all renewals, extensions and modifications thereof; and (h) all reasonable expenses of Secured Partythe Bank, including reasonable fees and expenses of Secured Partythe Bank’s counsel, incident to the enforcement of payment of all obligations of the Borrower Pledgor by any action or participation in, or in connection with a case or proceeding under the Bankruptcy Code, or any successor statute thereto.. . In the event any amount paid to Secured Party Bank on any of the Obligations is subsequently recovered from Secured Party Bank in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding involving an obligor of the Obligations other than BorrowerPledgor, Borrower Pledgor shall be liable to Secured Party 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 Secured PartyBank’s option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.

Description of Obligations. The following obligations (“Obligation” or “Obligations”) are secured by this Agreement: (a) All the Loan represented by Debtor’s Note dated of even date in the principal sum of Five Hundred Forty Six Thousand and 00/100 ($546,000.00) Dollars and all other debts, obligations, liabilities and agreements of Borrower Debtor to Secured PartyLender, now or hereafter existing, arising directly or indirectly between Borrower Debtor and Secured Party 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 or rearrangement and rearrangements of any of the above; (b) All costs Costs incurred by Secured Party Lender to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and enforce realize upon the Collateral; (c) All debtsother costs and expenses incurred by Lender, obligationsfor which Debtor is obligated to reimburse Lender in accordance with the terms of the Loan Documents, liabilities and agreements of Borrower to Secured Party under this Agreementtogether with interest at the Default Rate; (d) Interest on the above All amounts determined in accordance with applicable agreements which may be owed to Lender pursuant to all other Loan Documents executed between Secured Party Lender and BorrowerDebtor; (e) All indebtednessthe payment and performance by Debtor of its obligations under all its agreements with Lender, liabilities 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 obligations whether or not for the payment of Borrower money, direct or indirect, absolute or contingent, due or to Secured Party under the Loan Agreement dated even date herewith (the “Loan Agreement”) between Borrower become due, now existing or hereafter arising, together with all interest thereon and Secured Party costs of collection thereof, including reasonable attorneys’ fees and expenses, including all renewals, reamortizations, deferments and extensions of the foregoing and modifications thereofincluding any debt liability or obligation originally owing to Lender; (f) all indebtedness, liabilities and obligations such future advances as may be made at the option of Borrower the Lender to Secured Party under that certain Promissory Note dated of even date herewith in the maximum stated principal amount of $15,000,000.00 (the “Note”) payable by Borrower Debtor from time to the order of Secured Party and all renewals, extensions and modifications thereoftime; (g) all reasonable expenses of Secured Partyobligations incurred by Debtor under any agreement between Debtor and Lender or any Lender affiliate now existing or hereafter entered into, including reasonable fees and expenses of Secured Party’s counselwhich provides for an interest rate, incident to the enforcement of payment of all obligations 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 respect to, any of the Borrower foregoing or any similar transactions, for the purpose of hedging Debtor’s exposure to fluctuations in interest rates, exchange rates, currency, stock, portfolio or loan valuations or commodity prices (including any such or similar agreement or transaction entered into by Lender or any action or participation in, or Lender affiliate thereof in connection with any other agreement or transaction between Debtor and Lender or any Lender affiliate thereof) (each a case “Rate Management Agreement”) and (h) any of the foregoing that arise after the filing of a petition by or proceeding against Debtor under the Bankruptcy Code, even if the Obligations do not accrue because of the automatic stay under the Bankruptcy Code, or any successor statute thereto.. In the event any amount paid to Secured Party on any otherwise. Security Agreement in Favor of the Obligations is subsequently recovered from Secured Party in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding involving an obligor of the Obligations other than Borrower, Borrower shall be liable to Secured Party 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 Secured Party’s option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.Fifth Third Bank

Description of Obligations. The following obligations (“Obligations”) are secured by this Agreement: (a) All all debts, obligations, liabilities and agreements of Borrower XXXXX XXXXXX (“Borrower”), to Secured PartyBank, now or hereafter existing, arising directly or indirectly between Borrower and Secured Party 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 all costs incurred by Secured Party Bank to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and enforce the Collateral; (c) All all debts, obligations, liabilities and agreements of Borrower Pledgor to Secured Party Bank under this Agreement; (d) Interest interest on the above amounts determined in accordance with applicable agreements between Secured Party Bank and Pledgor or between Bank and Borrower; (e) All all indebtedness, liabilities and obligations of Borrower to Secured Party Bank under the Loan Agreement dated even date herewith hereof (the “Loan Agreement”) between Borrower and Secured Party Bank and all renewals, extensions and modifications thereof; (f) all indebtedness, liabilities and obligations of Borrower to Secured Party Bank under that certain the Promissory Note dated of even the date herewith in the maximum stated principal amount of $15,000,000.00 hereof (the “Note”) in the stated principal amount of $2,000,000.00 payable by Borrower to the order of Secured Party Bank and all renewals, extensions and modifications thereof; and (g) all reasonable expenses of Secured Partythe Bank, including reasonable fees and expenses of Secured Partythe Bank’s counsel, incident to the enforcement of payment of all obligations of the Borrower Pledgor by any action or participation in, or in connection with a case or proceeding under the Bankruptcy Code, or any successor statute thereto.. . In the event any amount paid to Secured Party Bank on any of the Obligations is subsequently recovered from Secured Party Bank in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding involving an obligor of the Obligations other than BorrowerPledgor, Borrower Pledgor shall be liable to Secured Party 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 Secured PartyBank’s option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.

Description of Obligations. The following obligations (“Obligations”"Obligation") are secured by this Agreementagreement: (a) All debts, obligations, liabilities and agreements of Borrower Debtor to Secured PartyBank, now or hereafter existing, arising directly or indirectly between Borrower Debtor and Secured Party 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 aboveabove including, without limitation, all obligations of Debtor pursuant to that certain Continuing and Unconditional Guaranty dated February 1, 1996, between Debtor and Bank; (b) Bank's participation in any loan or other debt of Debtor to another person; (c) All costs incurred by Secured Party Bank to obtain, preserve, perfect and enforce this Agreement agreement and maintain, preserve, collect and enforce the Collateral; (c) All debts, obligations, liabilities and agreements of Borrower to Secured Party under this Agreement; (d) Interest on the above amounts determined in accordance with applicable agreements as agreement between Secured Party Bank and BorrowerDebtor; (e) All indebtednessdebt, obligations and liabilities and of AmeriTruck Distribution Corp. (such party, together with the Debtor named above, is hereinafter referred to collectively as "Debtor") to Bank of the kinds described in this Item C, now existing or hereafter arising including, without limitation, all obligations of Borrower Debtor pursuant to Secured Party under the that certain Loan Agreement dated even date herewith February 1, 1996, between AmeriTruck Distribution Corporation and Bank (the “"Loan Agreement”) between Borrower and Secured Party and all renewals, extensions and modifications thereof"); (f) all indebtedness, liabilities and obligations of Borrower to Secured Party under that certain Promissory Note dated of even date herewith in the maximum stated principal amount of $15,000,000.00 (the “Note”) payable by Borrower to the order of Secured Party and all renewals, extensions and modifications thereof; (g) all reasonable All -------------- expenses of Secured Partythe Bank, including reasonable fees and expenses of Secured Party’s the Bank's counsel, incident to the enforcement of payment of all obligations of the Borrower Debtor by any action or participation in, or in connection with a case or proceeding under the Bankruptcy Code, or any successor statute thereto.. In ; (g) If the Debtor is not the obligor of any of the Obligations, and in the event any amount paid to Secured Party the Bank on any of the Obligations Obligation is subsequently recovered from Secured Party the Bank in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding involving an obligor of proceeding, the Obligations other than Borrower, Borrower Debtor shall be liable to Secured Party the 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 Secured Party’s the Bank's option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered; and (h) All amounts which may be owed to Bank pursuant to all other loan documents executed between Bank and any other Debtor.

Description of Obligations. The following obligations (“Obligations”) are secured by this Agreement: (a) All all debts, obligations, liabilities and agreements of Borrower Pledgor/Debtor/Borrower, to Secured PartyBank, now or hereafter existing, arising directly or indirectly between Borrower and Secured Party 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 all costs incurred by Secured Party Bank to obtain, preserve, perfect and enforce this Agreement and maintain, preserve, collect and enforce the Collateral; (c) All all debts, obligations, liabilities and agreements of Borrower Pledgor to Secured Party Bank under this Agreement; (d) Interest interest PLEDGE AGREEMENT - INDEPENDENT BANK GROUP, INC. - $7,000,000 - Page 1 on the above amounts determined in accordance with applicable agreements between Secured Party Bank and Pledgor or between Bank and Borrower; (e) All all indebtedness, liabilities and obligations of Borrower to Secured Party Bank under the Loan Agreement dated even date herewith hereof (the “Loan Agreement”) between Borrower and Secured Party Bank and all renewals, extensions and modifications thereof; (f) all indebtedness, liabilities and obligations of Borrower to Secured Party Bank under that certain the Promissory Note dated of even the date herewith in the maximum stated principal amount of $15,000,000.00 hereof (the “Note”) in the stated principal amount of $7,000,000.00, payable by Borrower to the order of Secured Party Bank, and all renewals, extensions and modifications thereof; (g) all indebtedness, liabilities and obligations of Borrower to Bank under that certain Term Promissory Note dated December 23, 2008 (as modified, amended, renewed, and/or replaced, the “Prior Note”) in the original stated principal amount of $12,500,000.00, payable by Borrower to the order of Bank, and the Loan Agreement executed concurrently therewith, and all renewals, extensions and modifications thereof; and (h) all reasonable expenses of Secured Partythe Bank, including reasonable fees and expenses of Secured Partythe Bank’s counsel, incident to the enforcement of payment of all obligations of the Borrower Pledgor by any action or participation in, or in connection with a case or proceeding under the Bankruptcy Code, or any successor statute thereto.. . In the event any amount paid to Secured Party Bank on any of the Obligations is subsequently recovered from Secured Party Bank in or as a result of any bankruptcy, insolvency or fraudulent conveyance proceeding involving an obligor of the Obligations other than BorrowerPledgor, Borrower Pledgor shall be liable to Secured Party 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 Secured PartyBank’s option, as of the date the Collateral was released, the security interest terminated, or said amounts were recovered.