Mixed Collateral Clause Samples

The Mixed Collateral clause defines how security interests are managed when a borrower provides more than one type of collateral—such as both real property and personal property—to secure a loan or obligation. In practice, this clause outlines the lender’s rights and priorities regarding each type of collateral, and may specify the order in which different assets can be claimed or liquidated in the event of default. Its core function is to clarify the treatment and enforcement of multiple forms of collateral, thereby reducing uncertainty and potential disputes between parties over asset claims.
Mixed Collateral. Notwithstanding anything in Section 4.02(c) above which might otherwise be construed to the contrary, Mortgagee shall have the option of proceeding as to the Real Property and all or some of the Personal Property in accordance with its rights and remedies with respect to the Real Property in accordance with the unified sale procedures set forth in the UCC.
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Mixed Collateral. Upon the occurrence of an Event of Default under this Instrument, Mortgagee, pursuant to the appropriate provisions of the UCC, shall have an option to proceed with respect to both the real property portion of the Property and the Leasehold Fixtures in accordance with its rights, powers and remedies with respect to such real property, in which event the default provisions of the UCC shall not apply. Such option shall be revocable by Mortgagee as to all or any portion of the Leasehold Fixtures at any time prior to the sale of the remainder of the Property. In such event Mortgagee shall cause the sale of the Leasehold Fixtures to be conducted in combination with the sale of the remainder of the Property. Should Mortgagee elect to sell the Leasehold Fixtures or any part thereof which is real property or which Mortgagee has elected to treat as real property or which may be sold together with the real property as provided above, Mortgagee shall give such notice of default and election to sell as may then be required by law. The parties agree that if Mortgagee shall elect to proceed with respect to any portion of the Leasehold Fixtures separately from such real property, five (5) days’ notice of the sale of the Leasehold Fixtures shall be reasonable notice. The expenses of retaking, holding, preparing for sale, selling and the like incurred by Mortgagee shall include, but not be limited to, attorneys’ fees, costs and expenses, and other expenses incurred by Mortgagee.
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Mixed Collateral. Upon the occurrence and during the continuance of an Event of Default under this Deed of Trust, Beneficiary, pursuant to the appropriate provisions of the Uniform Commercial Code, shall have an option to proceed with respect to both the real property portion of the Mortgaged Property and any portion of the Mortgaged Property which is personal property (“Personal Property”) in accordance with its rights, powers and remedies with respect to such real property, in which event the default provisions of the Uniform Commercial Code shall not apply. Such option shall be revocable by Beneficiary as to all or any portion of the Personal Property at any time prior to the sale of the remainder of the Mortgaged Property. In such event Beneficiary shall designate Trustee to conduct the sale of the Personal Property in combination with the sale of the remainder of the Mortgaged Property. Should Beneficiary elect to sell the Personal Property or any part thereof which is real property or which Beneficiary has elected to treat as real property or which may be sold together with the real property as provided above, Beneficiary or Trustee shall give such notice of default and election to sell as may then be required by law. The parties agree that if Beneficiary shall elect to proceed with respect to any portion of the Personal Property separately from such real property, five (5) business days notice of the sale of the Personal Property shall be reasonable notice. The reasonable expenses of retaking, holding, preparing for sale, selling and the like incurred by Beneficiary shall include, but not be limited to, reasonable attorneys' fees, costs and expenses, and other expenses incurred by Beneficiary.
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Mixed Collateral. Notwithstanding anything in Section 4.02(c) above which might otherwise be construed to the contrary, Lender shall have the option of proceeding as to the Real Property and all or some of the Personal Property in accordance with its rights and remedies with respect to the real property in accordance with the unified sale procedures set forth in the UCC.
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Mixed Collateral. Notwithstanding anything in Section 4.02(c) above which might otherwise be construed to the contrary, Beneficiary shall have the option of proceeding as to the Real Property and all or some of the Personal Property in accordance with its rights and remedies with respect to the Real Property in accordance with the unified sale procedures set forth in the UCC.
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Mixed Collateral. This Collateral Assignment, the Nevada Deed of Trust and the Rancho Murieta Deed of Trust collectively grant Pledgee a security interest in, or title to, both real and personal property. Upon the occurrence of an Event of Default, Pledgee shall have all of the rights which California Commercial Code Section 9501(4) accords a holder of real and personal property security for an obligation to conduct separate foreclosures, or a "unified" foreclosure, of some or all of its real and personal property security.
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Related to Mixed Collateral

  • Collateral (a) Borrower and each of its Subsidiaries have good title to, have rights in, and the power to transfer each item of the Collateral upon which it purports to ▇▇▇▇▇ ▇ ▇▇▇▇ under the Loan Documents, free and clear of any and all Liens except Permitted Liens, and neither Borrower nor any of its Subsidiaries have any Deposit Accounts, Securities Accounts, Commodity Accounts or other investment accounts other than the Collateral Accounts or the other investment accounts, if any, described in the Perfection Certificates delivered to Collateral Agent in connection herewith or otherwise informed the Collateral Agent in writing with respect of which Borrower or such Subsidiary has given Collateral Agent notice and taken such actions as are necessary to give Collateral Agent a perfected security interest therein, pursuant to the terms of Section 6.6(b). The Accounts are bona fide, existing obligations of the Account Debtors. (b) On the Effective Date, and except as disclosed on the Perfection Certificate or as permitted under Section 6.11 (i) the Collateral is not in the possession of any third party bailee (such as a warehouse), and (ii) no such third party bailee possesses components of the Collateral in excess of Two Hundred Fifty Thousand Dollars ($250,000.00). None of the components of the Collateral shall be maintained at locations other than as disclosed in the Perfection Certificates on the Effective Date or as permitted pursuant to Section 6.11. (c) All Inventory is in all material respects of good and marketable quality, free from material defects. (d) Borrower and each of its Subsidiaries is the sole owner of the Intellectual Property each respectively purports to own, free and clear of all Liens other than Permitted Liens. Except as noted on the Perfection Certificates (which may be updated in accordance with the provisions of Section 5.1), neither Borrower nor any of its Subsidiaries is a party to, nor is bound by, any material license or other material agreement with respect to which Borrower or such Subsidiary is the licensee that (i) prohibits or otherwise restricts Borrower or its Subsidiaries from granting a security interest in Borrower’s or such Subsidiaries’ interest in such material license or material agreement or any other property, or (ii) for which a default under or termination of could interfere with Collateral Agent’s or any Lender’s right to sell any Collateral. Borrower shall provide written notice to Collateral Agent and each Lender, in connection with the next Compliance Certificate delivered pursuant to Section 6.2(b) or within ten (10) days (whichever is later), of Borrower or any of its Subsidiaries entering into or becoming bound by any license or agreement with respect to which Borrower or any Subsidiary is the licensee (other than over the counter software that is commercially available to the public).