Granting of Security Interest Sample Clauses
The Granting of Security Interest clause establishes that one party (the grantor) provides the other party (the secured party) with a legal claim or interest in specific assets as collateral for an obligation, typically a loan or other financial arrangement. This clause details which assets are covered, such as inventory, equipment, or receivables, and may outline the conditions under which the security interest becomes enforceable. Its core function is to protect the secured party by giving them a priority right to the specified assets if the grantor defaults, thereby reducing the risk of loss and facilitating access to credit.
POPULAR SAMPLE Copied 3 times
Granting of Security Interest. 2.1 The Company confirms that in order to secure the due and punctual payment by the Company and certain of the Guarantors of certain Secured Debt, including the Securities and all other sums payable by the Company and certain of the Guarantors under the Indenture and the New Guaranty, the Company and the Guarantors pursuant to the New Security Agreement are granting to Bank of America, N.A., as Collateral Agent for the benefit of the Secured Parties (as such term is defined in the New Security Agreement), a security interest, among other assets, in such of the Restricted Collateral (as such term is defined in the New Security Agreement) as is required pursuant to the terms of the Indenture. The Company warrants and represents that pursuant to the New Security Agreement, the Securities are secured, as to such Restricted Collateral, at least equally and ratably with all other obligations and indebtedness of the Company and certain of the Guarantors secured thereby as, and to the extent, required by the Indenture.
Granting of Security Interest. To secure Debtor’s payment and performance of the Secured Obligations and each Subsidiary Grantor’s guaranty of payment of the Secured Obligations, each Grantor hereby transfers, assigns, sets over, conveys, mortgages and grants to the Secured Parties, subject to the terms of this Agreement and the Purchase Money Notes (and any substitute purchase money notes that may be issued), a continuing security interest in, lien on and right of setoff against all of its right, title and interest in and to all accounts, chattel paper, deposit accounts, documents (as defined in the UCC), equipment, fixtures, general intangibles, Intellectual Property, instruments, Insurance, inventory, investment property, letter-of-credit rights, money (as defined in the UCC) and other personal property and any supporting obligations related thereto, in each case, whether now owned or hereafter acquired, regardless of whether such property is in the future subdivided into one or more groups to separately secure the Debtor’s and each Subsidiary Grantor’s obligations hereunder, including:
(a) the Underlying Loans, including all future advances made with respect thereto;
(b) the Underlying Loan Documents;
(c) all amounts payable to such Grantor pursuant to the Underlying Loan Documents and all obligations owed to such Grantor in connection with the Underlying Loans and the Underlying Loan Documents;
(d) all Underlying Collateral, including all Acquired Property;
(e) all claims, suits, causes of action and any other right of such Grantor, whether known or unknown, against an Underlying Borrower, any Underlying Obligor or other obligor or any of their respective Affiliates, agents, representatives, contractors, advisors or any other Person arising under or in connection with the Underlying Loans or the Underlying Loan Documents or that is in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity arising under or in connection with the Underlying Loan Documents or the transactions related thereto or contemplated thereby;
(f) all cash, securities and other property received or applied by or for the account of such Grantor under the Underlying Loans, including all distributions received through redemption, consummation of a plan of reorganization, restructuring, liquidation or otherwise of an Underlying Borrower, Underlying Obligor or other obligor under or with respect to the ...
Granting of Security Interest. Each Loan Party hereby pledges, assigns and grants to Lender, on its behalf and for the benefit of Lender, a first priority security interest in and lien on, and a right of set-off against, the following property and assets, whether now or hereafter existing, owned or acquired by such Loan Party (collectively, the “Collateral”), to secure the payment and the performance of all the Obligations:
(a) Accounts;
(b) Chattel Paper;
(c) Commercial Tort Claims listed on Schedule 6.01 (as such schedule may be amended or supplemented from time to time);
(d) Deposit Accounts (including, without limitation, each Collateral Account);
(e) Documents;
(f) General Intangibles;
(g) Goods;
(h) Inventory;
(i) Equipment;
(j) Instruments;
(k) Investment Property;
(l) Letter-of-Credit Rights and Letters of Credit;
(m) Supporting Obligations;
(n) all books, records, writings, databases, information and other property relating to, used or useful in connection with, evidencing, embodying, incorporating or referring to, any of the foregoing in this Section;
(o) all Accessions to and Proceeds of the foregoing and, to the extent not otherwise included, (i) all payments under insurance (whether or not Lender is the loss payee thereof) and (ii) all tort claims; and
(p) all other property and rights of every kind and description and interests therein.
Granting of Security Interest. (a) The Tenant shall not grant a Security Interest in any goods that have become affixed to the Premises, and the Tenant shall not affix to the Premises any goods which are subject to a Security Interest.
(b) The Tenant shall not permit any notice claiming a Security Interest in any fixture to be registered against title to the Premises and shall, immediately upon demand by the Landlord, remove or cause to be removed any such notice and institute and diligently prosecute any proceedings pertinent thereto.
Granting of Security Interest. Each Borrower hereby grants a perfected first‑priority security interest in favor of Administrative Agent for the ratable benefit of the Lenders in each Security Account established under the Loan Documents and all financial assets and other property and sums at any time held, deposited or invested therein, and all security entitlements and investment property relating thereto, together with any interest or other earnings thereon, and all proceeds thereof, whether accounts, general intangibles, chattel paper, deposit accounts, instruments, documents or securities (collectively, “Reserve Account Collateral”), together with all rights of a secured party with respect thereto (even if no further documentation is requested by Administrative Agent or the Lenders or executed by the applicable Borrower).
Granting of Security Interest. Borrower hereby pledges, assigns and grants to Lender, to secure the payment and the performance of this Note, the Loans, and the Obligations, a first priority security interest in and Lien on, and a right of set-off against, the following property and assets (collectively, the “Collateral”), but not including the Excluded Collateral (as hereinafter defined), wherever located, whether now or hereafter existing, owned or acquired by Borrower, and all proceeds and products thereof: All goods, accounts, equipment, inventory, contract rights or rights to payment of money, leases, intellectual property, license agreements, franchise agreements, general intangibles, commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and all books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing. Borrower hereby represents, warrants, and covenants that the security interest granted herein is and shall at all times continue to be a valid, first priority perfected security interest in the Collateral. Lender’s security interest in the Collateral shall continue until the Obligations (other than contingent obligations of Borrower hereunder that will survive payment in full of the Obligations and termination of this Note by express terms) are repaid in full. Upon payment in full of all amounts due under this Note or upon conversion of this Note, this Note and all obligations of Borrower hereunder (other than contingent obligations of Borrower hereunder that will survive payment in full of the Obligations and termination of this Note by express 4883-9350-4517.4 terms) shall automatically terminate, and all rights to the Collateral shall revert to the granting party and Lender shall, at Borrower’s sole cost and expense, release its security interest in the Collateral.
Granting of Security Interest. To secure the Obligations (as that term is defined in the Commercial Financing Agreement) and payment of any sums which have or may become due by the Company or Accommodation Company to ▇▇▇▇▇▇ Capital pursuant to the Commercial Financing Agreement, and also to secure any other indebtedness or liability of the Company or Accommodation Company to ▇▇▇▇▇▇ Capital, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, including all future advances or loans which may be made at the option of ▇▇▇▇▇▇ Capital to the Company or Accommodation Company, Company and Accommodation Company hereby grants and conveys to ▇▇▇▇▇▇ Capital a security interest in, and mortgages to ▇▇▇▇▇▇ Capital the "Collateral" as defined in paragraph 2 below. The Company, Accommodation Company, and ▇▇▇▇▇▇ Capital agree that at the termination of this agreement both parties shall exchange mutual releases of all claims, each against the other, and that no liens against the Company’s or Accommodation Company’s assets shall be lifted until such releases are signed by both parties.
Granting of Security Interest. To secure the prompt payment and performance of all of Debtor’s debts, duties, liabilities and obligations to the Secured Party under the Promissory Note and all renewals, modifications and extensions thereof (collectively, “USMS Obligations”), Debtor hereby grants to the Secured Party a first priority security interest in (a) all accounts, general intangibles, instruments, rents, monies, payments and all other rights, now or hereafter acquired, arising out of the sale, lease, license or other disposition of any goods or related software generated from the Patents and all proceeds thereof; and (b) all payment intangibles resulting from the Reseller Agreement dated April 11, 2000 between Debtor and the Secured Party and all proceeds thereof (collectively, the “Collateral”). The Collateral shall remain subject to the Secured Party’s security interest until all of the USMS Obligations are paid and satisfied in full or until otherwise cancelled or terminated by the Secured Party in accordance with the terms of this Agreement. The security interest on the Collateral shall be subordinate and otherwise subject to the rights of Midwest Guaranty Bank (the “Bank”) under that certain commercial security agreement between the Bank and Debtor dated as of February 8, 2002 for those amounts outstanding under such security agreement as of the date hereof (the “Bank Lien”).
Granting of Security Interest. A. The Grantor hereby grants to the Secured Party a security interest in all Domestic U.S. Assets (as defined in the Loan Agreement) of Grantor, whether now owned or hereafter acquired, now existing or hereafter arising, and wherever located, including without limitation all of the following: All domestic U.S. inventory, machinery, fixtures and equipment, accounts, accounts receivable (including but not limited to all health care insurance receivables), contract rights, documents, chattel paper, instruments, deposit accounts and general intangibles (including but not limited to all software and all payment intangibles, all goodwill, trade names, trademarks, patents, copyrights, trade secrets, formulae, designs, customer lists, licenses and permits), beneficial interests in trusts, minute books, records and data and embedded software relating to all of the foregoing and all equipment, inventory and software to utilize, create, maintain and process any such records and data on electronic media and all supporting obligations relating to the foregoing property, together with all replacements thereof, attachments, accessories, parts, equipment, tools and proceeds of any and all of the foregoing property (including without limitation all insurance proceeds).
Granting of Security Interest. To secure the payment of any sums which have or may become due by the Company to P▇▇▇▇▇ Capital pursuant to the Commercial Financing Agreement and also to secure any other indebtedness or liability of the Company to P▇▇▇▇▇ Capital, direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, including all future advances or loans which may be made at the option of P▇▇▇▇▇ Capital to the Company (hereinafter referred to as "Obligations"), Company hereby grants and conveys to P▇▇▇▇▇ Capital a security interest in, and mortgages to P▇▇▇▇▇ Capital the "Property" as defined in paragraph 2 below. The Company and P▇▇▇▇▇ Capital agree that at the termination of this agreement both parties shall exchange mutual releases of all claims, each against the other, and that no liens against the Company’s assets shall be lifted until such releases are signed by both parties.
