SECURITY FOR PAYMENT OF NOTE Sample Clauses

SECURITY FOR PAYMENT OF NOTE. X Payment of this Promissory Note shall be secured by a security interest in the “Assets” located at the Franchised Business and certain other assets of the Franchised Business as evidenced by the “Security Agreement” executed by Franchisee in favor of Franchisor concurrently with the execution of this Promissory Note.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
SECURITY FOR PAYMENT OF NOTE. Subject at all times to the subordination provisions of this Note, compliance by the Company with its obligations under the Registration Rights Agreement is secured by a collateral assignment in favor of the Payee and the other holders of the Notes issued under the Securities Purchase Agreement, pro-rata as their interests may appear, of the proven crude oil reserves described on Schedule A.
Sample 1

Related to SECURITY FOR PAYMENT OF NOTE

  • Security for Payment To secure payment of all obligations due hereunder, the Customer hereby grants to Custodian a continuing security interest in and right of setoff against each Account and all Property held therein from time to time in the full amount of such obligations; provided that, if there is more than one Account and the obligations secured pursuant to this Section can be allocated to a specific Account or the Portfolio related to such Account, such security interest and right of setoff will be limited to Property held for that Account only and its related Portfolio. Should the Customer fail to pay promptly any amounts owed hereunder, Custodian shall be entitled to use available Cash in the Account or applicable Account, as the case may be, and to dispose of Securities in the Account or such applicable Account as is necessary. In any such case and without limiting the foregoing, Custodian shall be entitled to take such other action(s) or exercise such other options, powers and rights as Custodian now or hereafter has as a secured creditor under the New York Uniform Commercial Code or any other applicable law.

  • Payment of Note Punctually pay or cause to be paid the principal of, interest on and all other amounts payable hereunder and under the Note in accordance with the terms thereof.

  • Payment of Notes 45 Section 4.02 Maintenance of Office or Agency................................................................ 45 Section 4.03 Reports........................................................................................ 45 Section 4.04

  • Security Forms SECTION 201.

  • Security for Obligations This Agreement secures, and the Collateral is collateral security for, the prompt and complete payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a) (and any successor provision thereof)), of all Obligations with respect to every Grantor (the “Secured Obligations”).

  • Conditions Precedent to Obligation of the Company The obligation of the Company to effect the Exchange and otherwise consummate the transactions contemplated by this Agreement is subject to the satisfaction, at or prior to the Closing, of each of the following conditions:

Time is Money Join Law Insider Premium to draft better contracts faster.