Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any 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 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 Agent, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 11 contracts
Samples: Security Agreement (Verb Technology Company, Inc.), Security Agreement (Madison Technologies Inc.), Security Agreement (BioRestorative Therapies, Inc.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security InterestsCollateral, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 6 contracts
Samples: Form of Security Agreement (Vitro Biopharma, Inc.), Security Agreement (Paid Inc), Security Agreement (Intrinsic Medicine, Inc.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 Agent, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 5 contracts
Samples: Security Agreement (CannaVEST Corp.), Security Agreement (Amarantus Bioscience Holdings, Inc.), Security Agreement (CannaVEST Corp.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall Debtors shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 4 contracts
Samples: Security Agreement (Amarantus Bioscience Holdings, Inc.), Security Agreement (xG TECHNOLOGY, INC.), Security Agreement (xG TECHNOLOGY, INC.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance continuation of any Event of Default, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes)Obligations.
Appears in 3 contracts
Samples: Security Agreement (Trist Holdings, Inc.), Security Agreement (AtheroNova Inc.), Security Agreement (AtheroNova Inc.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Notes 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 Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the AgentSecured Party, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes Note for application to the satisfaction of the Obligations (and if any Notes Debenture is not outstanding, pro-rata in proportion to the initial purchases of the remaining NotesNote).
Appears in 3 contracts
Samples: Security Agreement (SOS Hydration Inc.), Security Agreement (Urban-Gro, Inc.), Surgepays Security Agreement (SurgePays, Inc.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall the Company shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of the Notes for application to the satisfaction of the Obligations (and if any Notes Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 2 contracts
Samples: Security Agreement (Alldigital Holdings, Inc.), Security Agreement (Alldigital Holdings, Inc.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Notes 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes the Note for application to the satisfaction of the Obligations (and if any Notes the Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining NotesNote).
Appears in 2 contracts
Samples: Security and Pledge Agreement (Notis Global, Inc.), Security and Pledge Agreement (Notis Global, Inc.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each the Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the AgentSecured Party, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any the Notes is are not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 2 contracts
Samples: Security Agreement (Helix TCS, Inc.), Security Agreement (Helix TCS, Inc.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each the Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Notes 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 Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the AgentSecured Party, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes Note for application to the satisfaction of the Obligations (and if any Notes the Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining NotesNote).
Appears in 2 contracts
Samples: Security Agreement (Oroplata Resources, Inc.), Security Agreement (HealthLynked Corp)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 2 contracts
Samples: Security Agreement (Victory Electronic Cigarettes Corp), Security Agreement (Victory Electronic Cigarettes Corp)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of Default, each the Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Notes 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 Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Agent, pro-rata in proportion to their its respective then-currently outstanding principal amount of Notes the Note for application to the satisfaction of the Obligations (and if any Notes the Note is not outstanding, pro-rata in proportion to the initial purchases purchase of the remaining NotesNote).
Appears in 2 contracts
Samples: Security Agreement (Ault Alliance, Inc.), Security Agreement (Giga Tronics Inc)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall the Company shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes)Obligations.
Appears in 2 contracts
Samples: Security Agreement (Commercetel Corp), Security Agreement (Commercetel Corp)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Notes 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes Note for application to the satisfaction of the Secured Obligations (and if any Notes Note is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 1 contract
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall the Company shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of the Notes for application to the satisfaction of the Obligations (and if any the Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 1 contract
Samples: Security Agreement (Endexx Corp)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each the Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 Agent, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 1 contract
Duty To Hold In Trust. (a) Upon the occurrence and during During the continuance of any an Event of Default, each the Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes Note is not outstanding, pro-rata in proportion to the initial purchases purchasers of the remaining Notes).
Appears in 1 contract
Samples: Security Agreement (Medovex Corp.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of Default, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes)Obligations.
Appears in 1 contract
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of Default, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the 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 Agent, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 1 contract
Samples: Security Agreement (Avalanche International, Corp.)
Duty To Hold In Trust. (a) Upon the occurrence and during the continuance of any Event of DefaultDefault and at any time thereafter, each Debtor shall shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security InterestsCollateral, whether payable pursuant to the 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 AgentSecured Parties, pro-rata in proportion to their respective then-currently outstanding principal amount of Notes for application to the satisfaction of the Obligations (and if any Notes No t e is not outstanding, pro-rata in proportion to the initial purchases of the remaining Notes).
Appears in 1 contract
