Security and Security Interest Sample Clauses
The Security and Security Interest clause establishes the right of one party, typically a lender or creditor, to claim a security interest in specific assets of the other party as collateral for an obligation or debt. In practice, this clause outlines which assets are subject to the security interest, the conditions under which the security can be enforced, and the procedures for perfecting and maintaining the security interest, such as registration or notification requirements. Its core function is to protect the secured party by providing a legal mechanism to recover value from the collateral if the debtor defaults, thereby reducing the lender's risk and encouraging the extension of credit.
Security and Security Interest. First Data may from time to time request security from the Company or a guarantor to secure performance of the Company’s obligations under this Agreement. The Company shall do all things necessary to put in place enforceable security as requested by First Data.
Security and Security Interest. Fiserv may from time to time request security from the Company or a guarantor to secure performance of the Company’s obligations under this Agreement. The Company shall do all things necessary to put in place enforceable security as requested by Fiserv.
Security and Security Interest. Fiserv may from time to time request security from the Company or a guarantor to secure performance of the Company’s obligations under this Agreement. Fiserv may determine that this Agreement, a transaction or any security provided creates a security interest for purposes of the Personal Property Securities Act (PPSA). The Company will do anything necessary to provide documentation to reflect any security or perfect any security interest.
Security and Security Interest. PSP may from time to time request security from the Company or a guarantor to secure performance of the Company’s obligations under this Agreement. PSP may determine that this Agreement, a transaction or any security provided creates a security interest for purposes of the Personal Property Securities Act (PPSA). The Company will do anything necessary to provide documentation to reflect any security or perfect any security interest.
Security and Security Interest. First Data may from time to time request security from the Company or a guarantor to secure performance of the Company’s obligations under this Agreement. First Data may determine that this Agreement, a transaction or any security provided creates a security interest for purposes of the Personal Property Securities Act (PPSA). The Company will do anything necessary to provide documentation to reflect any security or perfect any security interest.