Common use of Security for the Note Clause in Contracts

Security for the Note. In consideration for the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Corporation, and the due payment of all principal and interest on this Note from time to time outstanding and on all other monies from time to time owing on the security hereof and to secure the due performance by the Corporation of obligations herein contained, the Corporation does hereby grant, assign, mortgage, pledge, charge, hypothecate and create a security interest in, to and in favour of the Holder in the Technology provided that the charge hereby created will in no way hinder or prevent the Corporation at any time and from time to time (until an Event of Default occurs pursuant to Article 8 hereof and the Holder will have determined to enforce the same) from selling, alienating, assigning, licensing or otherwise disposing of or dealing with all or any part of the subject matter of the said charge in the ordinary course of its business and for the purpose of carrying on or extending the same or from entering into the Management and Marketing Agreement; provided further that the Corporation will not, and the Corporation hereby covenants that it will not, without the prior written consent of the Holder, make, give, create and assume or allow to subsist any mortgage, pledge, hypothec, lien, charge, encumbrance, assignment or other security, whether fixed or floating, upon the Technology or any part thereof. TO HAVE AND TO HOLD such assets and interests and all rights hereby conferred unto the Holder, its successors and assigns forever, but in trust nevertheless, for the uses and purposes and with the powers and authorities subject to the terms and conditions mentioned and set forth in this Note.

Security for the Note. In consideration for the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the Corporation, and the due payment of all principal and interest on this Note from time to time outstanding and on all other monies from time to time owing on the security hereof and to secure the due performance by the Corporation of obligations herein contained, the Corporation does hereby grant, assign, mortgage, pledge, charge, hypothecate and create a security interest in, to and in favour of the Holder in the Technology provided that the charge hereby created will in no way hinder or prevent the Corporation at any time and from time to time (until an Event of Default occurs pursuant to Article 8 hereof and the Holder will have determined to enforce the same) from sellingmanaging, alienatingdeveloping, assigning, licensing or otherwise disposing of utilizing or dealing with all or any part of the subject matter of the said charge in the ordinary course of its business and for the purpose of carrying on or extending the same or from entering into the Management and Marketing Agreement; provided further that during any period in which there is any outstanding principal or any accrued and unpaid interest on this Note, the Corporation will not, and the Corporation hereby covenants that it will not, without the prior written consent of the Holder, sell or transfer all or any part of the technology, or make, give, create and create, assume or allow to subsist any mortgage, pledge, hypothechypothecation, lien, charge, encumbrance, assignment or other security, whether fixed or floating, upon the Technology or any part thereof. TO HAVE AND TO HOLD such assets and interests and all rights hereby conferred unto the Holder, its successors and assigns forever, but in trust nevertheless, for the uses and purposes and with the powers and authorities subject to the terms and conditions mentioned and set forth in this Note.

Security for the Note. In consideration for the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the CorporationSilver, and the due payment of all principal and interest on this Note from time to time outstanding and on all other monies from time to time owing on the security hereof and to secure the due performance by the Corporation Silver of obligations herein contained, the Corporation Silver does hereby grant, assign, mortgage, pledge, charge, hypothecate and create a security interest in, to and in favour favor of the Holder in the Technology Purchased Assets provided that the charge hereby created will in no way hinder or prevent the Corporation Silver at any time and from time to time (until an Event of Default occurs pursuant to Article 8 hereof and the Holder will have determined to enforce the same) from sellingmanaging, alienatingdeveloping, assigning, licensing or otherwise disposing of utilizing or dealing with all or any part of the subject matter of the said charge in the ordinary course of its his business and for the purpose of carrying on or extending the same or from entering into the Management and Marketing Agreement; provided further that the Corporation during any period in which there is any outstanding principal or any accrued and unpaid interest on this Note, Silver will not, and the Corporation Silver hereby covenants that it he will not, without the prior written consent of the Holder, sell or transfer all or any part of the Purchased Assets, or make, give, create and create, assume or allow to subsist any mortgage, pledge, hypothechypothecation, lien, charge, encumbrance, assignment or other security, whether fixed or floating, upon the Technology Purchased Assets or any part thereof. TO HAVE AND TO HOLD such assets and interests and all rights hereby conferred unto the Holder, its successors and assigns forever, but in trust nevertheless, for the uses and purposes and with the powers and authorities subject to the terms and conditions mentioned and set forth in this Note.