Common use of SECURED DEBTS Clause in Contracts

SECURED DEBTS. This Agreement will secure all sums advanced by Secured Party under the terms of this Agreement and the payment and performance of the following described Secured Debts that (check one) x Debtor £___________________________________ (Borrower) owes to Secured Party: x Specific Debts. The following debts and all extensions, renewals, refinancings, modifications, and replacements (describe): PROMISSORY NOTE FOR $500,000.00 DATED 06/30/2008. £ All debts. All present and future debts, even if this Agreement is not referenced, the debts are also secured by other collateral, or the future debt is unrelated to or of a different type than the current debt. Nothing in this Agreement is a commitment to make future loans or advances.

Appears in 1 contract

Sources: Commercial Security Agreement (Diversified Restaurant Holdings, Inc.)

SECURED DEBTS. This Agreement will secure all sums some advanced by Secured Party under the terms of this Agreement and the payment and performance of the following described Secured Debts that (check one) x one)[X] Debtor £[ ] ________________________________________ (Borrower) owes to Secured Partyparty: x Specific Debts[ ] SPECIFIC DEBTS. The following debts and all extensions, renewals, refinancings, modifications, and replacements (describe): PROMISSORY NOTE FOR $500,000.00 DATED 06/30/2008. £ All debts[X] ALL DEBTS. All present and future debts, even if this Agreement is not referenced, the debts are also secured by other collateral, or the future debt is unrelated to or of a different type than the current debt. Nothing in this Agreement is a commitment to make future loans or advances.

Appears in 1 contract

Sources: Commercial Security Agreement (Ebank Financial Services Inc)

SECURED DEBTS. This Agreement will secure all sums advanced by Secured Party under the terms of this Agreement and the payment and performance of the following described Secured Debts that (check one) x [ ] Debtor £___________________________________ |X| DIGITAL FUSION, INC AND DIGITAL FUSION SOLUTIONS, INC. (Borrower) owes to Secured Party: x [ ] Specific Debts. The following debts and all extensions, renewals, refinancings, modifications, and replacements (describe): PROMISSORY NOTE FOR $500,000.00 DATED 06/30/2008. £ [ ] All debtsDebts. All present and future debts, even if this Agreement is not referenced, the debts are also secured by other collateral, or the future debt is unrelated to or of a different type than the current debt. Nothing in this Agreement is a commitment to make future loans or advances.

Appears in 1 contract

Sources: Loan Agreement (Digital Fusion Inc/Nj/)