Principal Hypothec Clause Samples
Principal Hypothec. As a general and continuing collateral security for the performance by the Grantor of the Obligations, the Grantor hereby hypothecates to and in favor of the Creditor, the following property (collectively referred to herein as the “Hypothecated Property”) to the extent of the sum of [AMOUNT], with interest thereon at the rate of [PERCENTAGE %] per annum:
2.1.1. the universality of all of the leasehold improvements, equipment, machinery, tools, motor vehicles, additions, appliances and accessories now owned or held or at any time hereafter acquired or held by the Grantor, wheresoever situate, including without limitation, the leasehold improvements and equipment located in the Premises, together with all the rents, income, fruits, revenues, issues and profits arising therefrom and the present and continuing right to claim for, collect and receive any one and all of the said rents, income, fruits, revenues, issues and profits;
2.1.2. all of the rights, titles and interests of the Grantor in, to and under the Memorandum of Agreement of Sublet dated [DATE] between [NUMBER] [COMPANY NAME] [SPECIFY] and the Grantor and the Memorandum of Agreement of Lease dated [DATE] between [NUMBER] [COMPANY NAME] [SPECIFY] in respect of the Premises and all renewals thereof together with the present and continuing right to make a claim thereunder and to enforce or cause the enforcement of all of the said rights, titles and interests of the Grantor;
2.1.3. the universality of all claims which now are or may at any time hereafter become vested in the Grantor, of any nature and kind and howsoever arising, whether or not such claims are certain and determinate, invoiced, liquid, exigible, litigious or constituted by a negotiable or other instrument or draft or including, without limiting the generality of the foregoing, all the accounts receivable, debts, claims and demands, which now are or may at any time hereafter be due, together with the contracts, guarantees, bills of exchange, notes, Liens, surety ships and accessories connected in any manner whatsoever to or securing the said accounts receivable, debts, claims and demands, and all the books, accounts, invoices, letters and other documents, evidencing the said accounts receivable, debts, claims and demands, in any manner whatsoever, which now are or may hereafter become vested in the Grantor (collectively referred to herein as the “Claims”);
2.1.4. the universality of all the present and future goods, wares, inventory, mat...
Principal Hypothec. The Grantors declare that they hypothecate to the Creditor all the titles, rights, powers, and interests in and to the following property (which will be known as the “Hypothecated Property” throughout the entirety of this Agreement): Past, current, and future arrangements made pertaining to all the [SPECIFY PRODUCTS], regardless of their model and make which the Partnership now finds itself to be a legally bound party (which will collectively be referred to as the “Inventory” throughout the entirety of this Agreement); Past, current, and future titles and rights to any and all bills which refer to or are a result of transactions made regarding the Inventory; and Past, current, and future papers, writing, documents, certificates, authorizations, guarantees, books debts, books of account, accounts receivable and all other such files, regardless of its type and nature, pursuant to the Partnership (which will be referred to as the “Claims” throughout the entirety of this Agreement). The Hypothecated Property will be granted by the Grantors to the Creditor on the basis that full and just compensation be provided equivalent to the amount of $[AMOUNT] in addition to the applicable interest rate equivalent to [PERCENTAGE]% per annum.
Principal Hypothec. As a general and continuing collateral security for the performance by the Grantors of the Obligations, each of the Grantors hereby hypothecates to and in favor of the Creditor the following property and its respective rights, titles and interests in and to such property (collectively referred to herein as the “Hypothecated Property”) to the extent of the sum of [AMOUNT], with interest thereon at the rate of [PERCENTAGE %] per annum:
2.1.1. the universality of all the present and future tires, of whatever make and model, of which the Partnership is now or hereafter may be a wholesale or retail purchaser or shipper or in which it is now or may hereafter be a dealer or seller (collectively referred to herein as the “Inventory”) and all rights to the warehouse receipts, bills of lading and other title documents relating to the Inventory; and
2.1.2. the universality of all claims, accounts receivable and book debts which now are or may at any time hereafter become vested in the Partnership, of any nature and kind arising pursuant to the sale, transfer, assignment or other disposition of any Inventory, whether or not such claims are certain and determinate, invoiced, liquid, exigible, litigious or constituted by a negotiable or other instrument or
2.1.3. draft and including, without limiting the generality of the foregoing, the contracts, guarantees, bills of exchange, notes, Liens, suretyships and accessories connected in any manner whatsoever to or securing the said claims, accounts receivable and book debts, and all the books, accounts, invoices, letters and other documents evidencing the said claims, accounts receivable and book debts, in any manner whatsoever, which now are or may hereafter become vested in the Partnership (collectively referred to herein as the “Claims”).
Principal Hypothec. The Grantor hereby hypothecates and pledges to and in favour of the Initial Canadian Lender, the Canadian Agent and their respective successors, permitted transferees and permitted assigns (collectively, the "Secured Parties"):
(a) the Bond;
(b) any securities which may be issued in replacement of the Bond subsequent to the sale, repurchase, redemption, conversion, cancellation or any other transformation of the Bond;
(c) all other 25% mortgage demand bonds or other securities which may be delivered to the Canadian Agent from time to time in addition to or in substitution of the Bond; and
(d) all fruits and revenues of or from the property referred to in paragraphs (a), (b), and (c) above; (collectively the "Hypothecated Property") for the sum of twenty-eight million eight hundred thousand Dollars ($28,800,000), with interest thereon at the rate of twenty-five percent (25 %) per annum from the date hereof.