FOR VALUABLE CONSIDERATION the Borrower hereby grants to OUVO INC. (hereinafter called the “Lender”) a security interest in all of the Borrower’s right, title and interest in and to all of the Borrower’s personal property and assets including without limitation the following property, including without limitation any and all additions, accessions and substitutions thereto or therefore, whether now held or hereafter acquired (hereinafter called the “Collateral”): (a) accounts; (b) instruments; (c) documents; (d) chattel paper; (e) supporting obligations; (f) letter of credit rights; (g) equipment; (h) fixtures; (i) general intangibles; (j) inventory; (k) investment property; (l) deposit accounts; (m) cash, money, currency, and liquid funds, wherever held; (n) goods; (o) intellectual property; and (p) all proceeds of each of the foregoing (the “Proceeds”), to secure payment and performance of all of the Borrower’s present or future debts or obligations to the Lender, whether absolute or contingent (hereafter referred to as “Debt”). Unless otherwise defined, words used herein have the meanings given them in the Delaware Uniform Commercial Code. THE BORROWER REPRESENTS, WARRANTS AND AGREES:
FOR VALUABLE CONSIDERATION. Borrower represents and warrants to and agrees with Lender as follows:
FOR VALUABLE CONSIDERATION. Xxxxx gives written acceptance of this offer and agrees that this offer, when signed, will constitute a binding agreement between the Buyer and Seller and herewith deposits with Seller One Thousand and 00/100 Dollars ($1,000.00) evidencing Buyer’s good faith, said deposit will be held by Seller, and to be applied as part of the purchase price. If this offer is not accepted or title is not marketable or insurable, or if any contingency specified herein cannot be met, within time limits specified, this deposit shall be refunded forthwith. In the event of default by Xxxxx, all deposits made hereunder may be forfeited as liquidated damages at Seller’s election or alternatively, Seller may retain such deposits as part payment of the purchase price and pursue its legal or equitable remedies hereunder against Xxxxx, and in case of the Seller’s default by refusal to perform, the Buyer may pursue his/her/their legal or equitable remedies against the Seller.
FOR VALUABLE CONSIDERATION receipt whereof is hereby acknowledged, the undersigned, Borrower, hereby promises to pay to the Lender, or the holder of this promissory note (the "Promissory Note"), in accordance with the terms and conditions referenced herein, the aggregate principal sum of ____________________ dollars ($____________) in lawful money of Canada (hereinafter referred to as the "Principal Sum") together with simple interest accruing thereon and commencing on the above-referenced Effective Date of this Promissory Note at the rate of five percent (5%) per annum, calculated semi-annually (herein the "Interest"), and payable semi-annually prior to maturity; and any such Interest shall be payable in full to the Lender on the date of the repayment by the Borrower to the Lender of the entire Principal Sum amount in the manner as set forth immediately hereinbelow; failing which the Lender may immediately realize upon any of the "Security" which has been provided by the Borrower to the Lender in conjunction with the delivery of this Promissory Note; this Promissory Note being Schedule "A" to that certain "Secured and Subordinated Loan Agreement", dated March 15, 2016 (the "Loan Agreement"), as entered into between the Parties. Subject to the prior application of the provisions provided for in sections "3.5" and "3.6" of the Loan Agreement, the Principal Sum, together with all outstanding Interest accrued thereon as specified hereinabove, is hereby irrevocably and unconditionally due and payable by the Borrower to the Lender in the following manner and at or before 5:00 p.m. (Vancouver time) on the day which is the earlier of:
FOR VALUABLE CONSIDERATION. Borrower represents and warrants to Lender that Borrower is a Minnesota Corporation, duly organized and in good standing, that Borrower is the current fee owner of the Land, subject only to the Combination Mortgage, Assignment of Rents, Security Agreement and Fixture Financing Statement as herein described and such other non-financial encumbrances disclosed to Lender, and that the party executing this Modification on behalf of Borrower has all requisite corporate authority to execute this Modification.
