Common use of Duty To Hold In Trust Clause in Contracts

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 95 contracts

Samples: Security Agreement (Marpai, Inc.), Security Agreement (High Wire Networks, Inc.), Security Agreement (Enzo Biochem Inc)

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Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Note for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures)Obligations.

Appears in 24 contracts

Samples: Security Agreement (La Rosa Holdings Corp.), Security Agreement (La Rosa Holdings Corp.), Security Agreement (Avalon GloboCare Corp.)

Duty To Hold In Trust. (a) Upon During the occurrence continuance of any an Event of Default and at any time thereafterDefault, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Collateral Agent for distribution to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 22 contracts

Samples: Security Agreement (Wearable Health Solutions, Inc.), Security Agreement (GT Biopharma, Inc.), Security Agreement (Immudyne, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 22 contracts

Samples: Security Agreement (Ensysce Biosciences, Inc.), Security Agreement (Greenwave Technology Solutions, Inc.), Security Agreement (Digital Ally, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Note for application to the satisfaction of the Obligations (and if any Debenture the Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNote).

Appears in 7 contracts

Samples: Security Agreement (POSITIVEID Corp), Security Agreement (POSITIVEID Corp), Security Agreement (POSITIVEID Corp)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, incomeincome , dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount Principal Amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 7 contracts

Samples: Security Agreement (Enable Holdings, Inc.), Security Agreement (Enable Holdings, Inc.), Security Agreement (Blink Logic Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Secured Obligations (and if any Debenture is Notes are not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 7 contracts

Samples: Security and Pledge Agreement (Viking Energy Group, Inc.), Security and Pledge Agreement (Camber Energy, Inc.), Security and Pledge Agreement (Camber Energy, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of Default Default, and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 5 contracts

Samples: Security Agreement (Adhera Therapeutics, Inc.), Security Agreement (Adhera Therapeutics, Inc.), Security Agreement (Adhera Therapeutics, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafterduring the continuance of such Event of Default, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 5 contracts

Samples: Security Agreement (Legend Oil & Gas, Ltd.), Security Agreement (Sg Blocks, Inc.), Security Agreement (Sg Blocks, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 5 contracts

Samples: Security Agreement (Theralink Technologies, Inc.), Security Agreement (MICT, Inc.), Security Agreement (Legend Oil & Gas, Ltd.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures)Obligations.

Appears in 4 contracts

Samples: Security Agreement (NightFood Holdings, Inc.), Security Agreement (Green Ballast, Inc.), Security Agreement (Blue Holdings, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, incomeincome , dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 4 contracts

Samples: Security Agreement (Soupman, Inc.), Security Agreement (Future Healthcare of America), Security Agreement (Four Rivers Bioenergy Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount Principal Amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 3 contracts

Samples: Security Agreement (NXT Nutritionals Holdings, Inc.), Security Agreement (NXT Nutritionals Holdings, Inc.), Security Agreement (Magnolia Solar Corp)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Secured Obligations (and if any Debenture Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 3 contracts

Samples: Security and Pledge Agreement (HyreCar Inc.), Securities Purchase Agreement (Co-Diagnostics, Inc.), Intercreditor and Subordination Agreement (Co-Diagnostics, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 3 contracts

Samples: Security Agreement (Advanced Environmental Petroleum Producers Inc.), Security Agreement (Chile Mining Technologies Inc.), Security Agreement (Oxford Media, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence and continuance of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 3 contracts

Samples: Security Agreement, Security Agreement (SCOLR Pharma, Inc.), Security Agreement (SCOLR Pharma, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Collateral Agent’s request after an Event of Default has occurred and at any time thereafteris continuing, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith promptly endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 2 contracts

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

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-pro- rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 2 contracts

Samples: Securities Purchase Agreement (Trio Petroleum Corp.), Securities Purchase Agreement (Trio Petroleum Corp.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor Grantor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 2 contracts

Samples: Security Agreement (Pure Bioscience, Inc.), Security Agreement (ZBB Energy Corp)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 2 contracts

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

Duty To Hold In Trust. (a) a. Upon the occurrence and during the continuance of any Event of Default and at any time thereafterDefault, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 2 contracts

Samples: Security Agreement, Security Agreement (Discovery Energy Corp.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 2 contracts

Samples: Security Agreement (QPC Lasers), Security Agreement (QPC Lasers)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Secured Obligations (and if any Debenture Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 2 contracts

Samples: Security and Pledge Agreement (IIOT-OXYS, Inc.), Security and Pledge Agreement (IIOT-OXYS, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (LifeMD, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Debenture or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Targeted Medical Pharma, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums or property or proceeds subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Green Earth Technologies, Inc)

Duty To Hold In Trust. (a) Upon the occurrence and continuance of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Fearless International, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Note for application to the satisfaction of the Secured Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNote).

Appears in 1 contract

Samples: Security and Pledge Agreement (Viking Energy Group, Inc.)

Duty To Hold In Trust. (a) Upon During the occurrence continuance of any an uncured Event of Default and at any time thereafterDefault, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Collateral Agent for distribution to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 1 contract

Samples: Security Agreement (Mechanical Technology Inc)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture is Notes are not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 1 contract

Samples: Security Agreement (Epic Stores Corp.)

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Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default Default, and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Sysorex, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Synthesis Energy Systems Inc)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-then currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases purchased principal amount of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Accentia Biopharmaceuticals Inc)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures), subject to the terms of the PFG Loan and the PFG Subordination Agreement.

Appears in 1 contract

Samples: Security Agreement (Healthcare Corp of America)

Duty To Hold In Trust. (a) Upon During the occurrence continuance of any Event of Default and at any time thereafterDefault, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (NovaBay Pharmaceuticals, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured PartiesAgent (as defined below), pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Note for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNote).

Appears in 1 contract

Samples: Security Agreement (Biotech Products Services & Research, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Debenture or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding current respective principal amount amounts of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Consolidated Energy Inc)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture Note is not outstanding, pro-pro- rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 1 contract

Samples: Security Agreement (Cyber App Solutions Corp.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesNotes).

Appears in 1 contract

Samples: Security Agreement (Medovex Corp.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures AE Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures the AE Note for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures)Obligations.

Appears in 1 contract

Samples: Security Agreement (Audioeye Inc)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums or property or proceeds subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Rodman & Renshaw Capital Group, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured PartiesParty, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (China North East Petroleum Holdings LTD)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Debentures, the Note or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures and the Note for application to the satisfaction of the Obligations (and if any Debenture or the Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining DebenturesDebentures and Note).

Appears in 1 contract

Samples: Amended and Restated Security Agreement (Theralink Technologies, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest interest, or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance acceptance, or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-pro rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-pro rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (American Eagle Energy Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Debentures, the other Transaction Documents or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (S&W Seed Co)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures Notes or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures Notes for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures)Obligations.

Appears in 1 contract

Samples: Security Agreement (Cdex Inc)

Duty To Hold In Trust. (a) Upon the occurrence and during the continuation of any Event of Default and at any time thereafterDefault, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (Rennova Health, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence of any Event of Default and at any time thereafter, each the Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (LifeMD, Inc.)

Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of Default and at any time thereafterDefault, each Debtor shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Debentures or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust for the Secured Parties and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Debentures for application to the satisfaction of the Obligations (and if any Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining Debentures).

Appears in 1 contract

Samples: Security Agreement (InspireMD, Inc.)

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