Common use of Encumbrance Clause in Contracts

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens.

Appears in 104 contracts

Samples: Loan and Security Agreement (Corillian Corp), Loan and Security Agreement (Quicklogic Corporation), Loan and Security Agreement (Optio Software Inc)

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Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, herein. The Collateral may also be subject to Permitted Liens.

Appears in 42 contracts

Samples: Loan Modification Agreement (Intersearch Group Inc), Loan and Security Agreement (Axs One Inc), Silicon Valley Bank Loan and Security Agreement (Strasbaugh)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens.

Appears in 33 contracts

Samples: Loan and Security Agreement (Abovenet Communications Inc), Loan and Security Agreement (Preview Systems Inc), Loan and Security Agreement (Internap Network Services Corp/Wa)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, herein subject only to Permitted Liens.

Appears in 3 contracts

Samples: Loan and Security Agreement (Cosine Communications Inc), Loan and Security Agreement (Cosine Communications Inc), Loan and Security Agreement (Harmonic Lightwaves Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted here, subject to Permitted Liensherein.

Appears in 2 contracts

Samples: Loan and Security Agreement (Stereotaxis, Inc.), Loan and Security Agreement (Stereotaxis, Inc.)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted hereinterest, subject only to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Object Design Inc), Loan and Security Agreement (Art Technology Group Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, including Intellectual Property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted hereherein, subject only to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement by And (Kanbay International Inc), Loan and Security Agreement by And (Kanbay International Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or Or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, herein. The Collateral may also be subject to Permitted Liens.

Appears in 2 contracts

Samples: Loan Modification Agreement (Phase Forward Inc), Fifth Loan Modification Agreement (Phase Forward Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted hereherein. Notwithstanding the foregoing, however, the Collateral may also be subject to Permitted Liens.

Appears in 2 contracts

Samples: Loan Modification Agreement (Constant Contact, Inc.), Loan Modification Agreement (Constant Contact, Inc.)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest in the Collateral granted hereherein, subject only to Permitted Liens.

Appears in 2 contracts

Samples: Loan and Security Agreement (Webridge Inc), Loan and Security Agreement (Epicedge Inc)

Encumbrance. Create, incur, allow, or allow suffer any Lien on any of its property, the Collateral or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted hereherein, subject to except as is otherwise permitted in Section 7.1 hereof and the definition of "Permitted LiensLien" herein.

Appears in 2 contracts

Samples: Loan and Security Agreement (Strasbaugh), Loan and Security Agreement (Strasbaugh)

Encumbrance. Create, Create incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Metro One Telecommunications Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or agree with any person or entity other than Bank not to create, incur or allow any Lien on any of its property, or permit any Collateral not of its Subsidiaries to be subject to the first priority security interest granted here, subject to Permitted Liensdo so.

Appears in 1 contract

Samples: Loan and Security Agreement (Sunrise Technologies International Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herelien status of Bank regarding the Collateral to change, subject only to Permitted Liens, as may be applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Applied Molecular Evolution Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, particularly any of its Intellectual Property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herehereby, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Energy Industries Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted here, subject in the Collateral to Permitted Liensbe materially impaired.

Appears in 1 contract

Samples: Loan and Security Agreement (Sento Corp)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the cause Bank's first priority security interest granted here, subject in the Collateral to Permitted Lienschange.

Appears in 1 contract

Samples: Loan and Security Agreement (Valueclick Inc/Ca)

Encumbrance. Create, incur, or allow any Lien on any of its propertythe Collateral, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for (a) Permitted Liens, or (b) Transfers of Accounts in the ordinary course of Borrower's business in exchange for cash or other unencumbered Property to an entity or entities regularly engaged in the purchase of such Accounts, or permit any Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Stratex Networks Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, here except for Collateral subject to Permitted Liens.

Appears in 1 contract

Samples: Loan Agreement Supplement No (Omm Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted hereherein. Notwithstanding the foregoing, the Collateral may also be subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Momenta Pharmaceuticals Inc)

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Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any AccountsReceivables, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted here, subject to Permitted Liensinterest.

Appears in 1 contract

Samples: Security Agreement (Aspen Technology Inc /De/)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Company Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Viewlocity Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, herein. The Collateral may also be subject to Permitted Liens." and inserting in lieu thereof the following:

Appears in 1 contract

Samples: Ninth Loan Modification Agreement (Art Technology Group Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted here, subject in the Collateral to change except for Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Hotjobs Com LTD)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Liquid Audio Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Mitokor)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Lender's first priority security interest granted here, subject in the Collateral to Permitted Lienschange.

Appears in 1 contract

Samples: Loan and Security Agreement (Breakaway Solutions Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted LiensLiens and as permitted under Section 7.1, or permit any Collateral not to be subject to the first priority security interest granted herelien status of Bank regarding the Collateral to change, subject only to Permitted LiensLiens as may be applicable, and with respect to Collateral no longer owned by Borrower pursuant to Section 7.1.

Appears in 1 contract

Samples: Loan Agreement (Ats Medical Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Bank's first priority security interest granted hereherein, subject only to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Healthcare Com Corp)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Agent's first priority security interest granted here, subject in the Collateral to Permitted Lienschange.

Appears in 1 contract

Samples: Loan and Security Agreement (Breakaway Solutions Inc)

Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the Agent's first priority security interest granted here, subject in the Collateral to Permitted Lienschange."

Appears in 1 contract

Samples: Loan and Security Agreement (Breakaway Solutions Inc)

Encumbrance. Create, incur, or allow any Lien on any of its propertyitsCollateral, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens.

Appears in 1 contract

Samples: Loan and Security Agreement (Neah Power Systems, Inc.)

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