Grant of Security Interests in Collateral Sample Clauses

Grant of Security Interests in Collateral. Each Grantor, as security for the full, prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the Secured Obligations, hereby mortgages, pledges and hypothecates to Secured Party for the benefit of the Credit Parties, and grants to Secured Party for the benefit of the Credit Parties a lien on and security interest in, all of such Grantor’s right, title and interest in, to and under the Collateral of such Grantor.
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Grant of Security Interests in Collateral. To secure the Companies' prompt payment when due of all principal and interest and all other amounts payable under the Note and the Guaranty and performance of all other obligations, covenants, liabilities, duties, loans and advances of the Companies to the Secured Party under the Note and the Guaranty and to secure all amounts payable and performance of all other obligations, covenants, liabilities and duties of the Companies arising under any preferred stock issued to Secured Party in exchange for the Note, or any portion thereof (collectively, the "Obligations") the Companies hereby grant to the Secured Party a continuing security interest (the "Lien") in all existing and future assets, and all accessions, additions, and accretions thereto, and products, proceeds, replacements and substitutions thereof, including but not limited to, the assets and properties described on Schedule 1 attached hereto (collectively, the "Collateral").
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Grant of Security Interests in Collateral. To secure the Companies' prompt payment when due of all principal and interest and all other amounts payable under the Note and the Guaranty and performance of all other obligations of the Companies under the Note and the Guaranty (collectively, the "Obligations") and for $1.00 and other consideration, receipt of which is hereby acknowledged, the Companies hereby grant to the Secured Party a continuing second lien security interest (the "Second Lien") in all present Classic Radio Assets and all accretions thereto and products, proceeds and replacements and substitutions thereof, including but not limited to the assets and properties described on Schedule 1 attached hereto (the "Collateral") to the extent of the Obligations. The Second Lien shall be junior and subordinate to the security interests of Fleet National Bank, as administrative agent, and the lenders under the Credit Agreement dated as of the date hereof (as amended, modified or supplemented from time to time, the "Credit Agreement") by and among ABC, Fleet National Bank, as administrative agent, and such other lenders from time to time party to the Credit Agreement, (the "Senior Obligations", which term shall include, without limitation, all principal, interest (including post-petition), fees, costs and expenses whether or not currently contemplated), and senior and prior in all respects to the Amari Security Interest. Persons at any time having or acquiring any right or interest in any of the Senior Obligations shall hereafter be referred to as the "Senior Parties". Notwithstanding the foregoing, the Second Lien shall not be subordinate to any other security interest in the Collateral hereafter granted by the Companies other than to the Senior Parties, including, without limitation, any security interest granted to selling third parties in consideration for the sale of assets or securities of such selling third parties to one of the Companies or in connection with the merger or consolidation of another company with and into one of the Companies. Subject to the provisions of the Note and the Credit Agreement, the Companies shall be free to sell the Collateral (excluding the proceeds thereof) in the ordinary course of business without restriction. However, a sale in the ordinary course of business does not include a transfer in partial or total satisfaction of a debt or any bulk sale.
Sample 1
Grant of Security Interests in Collateral. To secure the Companies' prompt payment when due of all principal and interest and all other amounts payable under the Notes and the Guaranty and performance of all other obligations, covenants, liabilities, duties, loans and advances of the Companies to the Secured Party under the Notes and the Guaranty and to secure all amounts payable and performance of all other obligations, covenants, liabilities and duties of the Companies arising under any preferred stock issued to Secured Party in exchange for the Notes, or any portion thereof (collectively, the "Obligations") the Companies hereby grant to the Secured Party a continuing security interest (the "Lien") in all existing and future assets (other than cash, accounts receivable and inventory) and all accessions, additions and accretions thereto and products, proceeds and replacements and substitutions thereof, including but not limited to the assets and properties described on Schedule 1 attached hereto (collectively, the "Collateral"). Notwithstanding anything herein to the contrary, the term "
Sample 1

Related to Grant of Security Interests in Collateral

  • Perfection of Security Interests in the Collateral The Collateral Documents create valid security interests in, and Liens on, the Collateral purported to be covered thereby, which security interests and Liens are currently perfected security interests and Liens, prior to all other Liens other than Permitted Liens.

  • Grant of Security Interest in Collateral As an inducement for the Secured Parties to extend the loans as evidenced by the Debentures and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the Obligations, each Debtor hereby unconditionally and irrevocably pledges, grants and hypothecates to the Secured Parties a security interest in and to, a lien upon and a right of set-off against all of their respective right, title and interest of whatsoever kind and nature in and to, the Collateral (a “Security Interest” and, collectively, the “Security Interests”).

  • Security Interests in Collateral To secure their Obligations under this Agreement and the other Loan Documents, the Loan Parties shall grant to the Collateral Agent, for its benefit and the ratable benefit of the other Secured Parties, a first-priority security interest in all of the Collateral pursuant to the Security Documents.

  • Grant of Security Interests In addition to the other rights provided in this Section 9.9, each Lender may grant a security interest in, or otherwise assign as collateral, any of its rights under this Agreement, whether now owned or hereafter acquired (including rights to payments of principal or interest on the Loans), to (A) any federal reserve bank (pursuant to Regulation A of the Federal Reserve Board), without notice to Agent or (B) any holder of, or trustee for the benefit of the holders of, such Lender’s Indebtedness or equity securities, by notice to Agent; provided, however, that no such holder or trustee, whether because of such grant or assignment or any foreclosure thereon (unless such foreclosure is made through an assignment in accordance with clause (b) above), shall be entitled to any rights of such Lender hereunder and no such Lender shall be relieved of any of its obligations hereunder.

  • Pledge; Grant of Security Interest As collateral security for the payment and performance in full of all the Secured Obligations, each Grantor hereby pledges and grants to the Agent for its benefit and for the benefit of the other Credit Parties, a Lien on and security interest in and to all of the right, title and interest of such Grantor in, to and under all personal property and interests in such personal property, wherever located, and whether now existing or hereafter arising or acquired from time to time (collectively, the “Collateral”), including, without limitation:

  • Pledge and Grant of Security Interest To secure the prompt payment and performance in full when due, whether by lapse of time or otherwise, of the Pledgor Obligations (as defined in Section 3 hereof), each Pledgor hereby pledges and assigns to the Agent, for the benefit of the Lenders, and grants to the Agent, for the benefit of the Lenders, a continuing security interest in any and all right, title and interest of such Pledgor in and to the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the "Pledged Collateral"):

  • Perfection of Security Interests (a) Each Borrower and Guarantor irrevocably and unconditionally authorizes Agent (or its agent) to file at any time and from time to time such financing statements with respect to the Collateral naming Agent or its designee as the secured party and such Borrower or Guarantor as debtor, as Agent may require, and including any other information with respect to such Borrower or Guarantor or otherwise required by part 5 of Article 9 of the Uniform Commercial Code of such jurisdiction as Agent may determine, together with any amendment and continuations with respect thereto, which authorization shall apply to all financing statements filed on, prior to or after the date hereof. Each Borrower and Guarantor hereby ratifies and approves all financing statements naming Agent or its designee as secured party and such Borrower or Guarantor, as the case may be, as debtor with respect to the Collateral (and any amendments with respect to such financing statements) filed by or on behalf of Agent prior to the date hereof and ratifies and confirms the authorization of Agent to file such financing statements (and amendments, if any). Each Borrower and Guarantor hereby authorizes Agent to adopt on behalf of such Borrower and Guarantor any symbol required for authenticating any electronic filing. In the event that the description of the collateral in any financing statement naming Agent or its designee as the secured party and any Borrower or Guarantor as debtor includes assets and properties of such Borrower or Guarantor that do not at any time constitute Collateral, whether hereunder, under any of the other Financing Agreements or otherwise, the filing of such financing statement shall nonetheless be deemed authorized by such Borrower or Guarantor to the extent of the Collateral included in such description and it shall not render the financing statement ineffective as to any of the Collateral or otherwise affect the financing statement as it applies to any of the Collateral. In no event shall any Borrower or Guarantor at any time file, or permit or cause to be filed, any correction statement or termination statement with respect to any financing statement (or amendment or continuation with respect thereto) naming Agent or its designee as secured party and such Borrower or Guarantor as debtor.

  • Grant of Security Interest in the Collateral To secure the prompt payment and performance in full when due, whether by lapse of time, acceleration, mandatory prepayment or otherwise, of the Secured Obligations, each Grantor hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in, and a right to set off against, any and all right, title and interest of such Grantor in and to all of the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the “Collateral”):

  • Impairment of Security Interests Take or omit to take any action, which might or would have the result of materially impairing the security interests in favor of the Administrative Agent with respect to the Collateral or grant to any Person (other than the Administrative Agent for the benefit of itself and the Lenders pursuant to the Security Documents) any interest whatsoever in the Collateral, except for Liens permitted under Section 11.2 and asset sales permitted under Section 11.5.

  • Grant of Security Interest All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked, non-interest bearing deposit accounts at Bank of America. The Borrower, and to the extent provided by any Lender, such Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Lenders (including the Swing Line Lender), and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.14(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash Collateral is less than the applicable Fronting Exposure and other obligations secured thereby, the Borrower or the relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency.

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