Security Interest; Collateral; Obligations. The Borrower hereby grants to the Bank, as security for any and all obligations whatsoever of the Borrower to the Bank, whether direct, indirect, absolute or contingent, due or to become due, and whether now existing or hereafter arising and howsoever evidenced or acquired, including without limitation all indebtedness and liabilities evidenced by the Loan, this Agreement, the other Loan Documents, checking account overdrafts, and letter of credit reimbursement agreements, excluding, however, indebtedness incurred primarily for personal, family or household purposes (collectively, the "Obligations"), a first lien on, and, security interest in and agrees and acknowledges that the Bank has and will continue to have a first lien on, and a perfected security interest in all of the Collateral described below, both presently owned and after acquired, together with all proceeds and products thereof, additions and accessions thereto, and all replacements and substitutions therefor (collectively, the "Collateral"), excluding, however, all such Collateral which constitutes Consumer Goods in the hands of the Borrower: Accounts, Inventory, Equipment, Fixtures, Books and Records, Chattel Paper, Documents, General Intangibles, Instruments, Machinery, Contract Rights and Furniture
Security Interest; Collateral; Obligations. The Borrower hereby grants to the Bank, as security for any and all obligations whatsoever of the Borrower to the Bank, whether direct, indirect, absolute or contingent, due or to become due, and whether now existing or hereafter arising and howsoever evidenced or acquired, including without limitation all indebtedness and liabilities evidenced by the Loan, this Agreement, the other Loan Documents, or arising under any foreign exchange contracts, interest rate swap, cap, floor or hedging agreements, or other similar agreements or arrangements, letter of credit reimbursement agreements, and checking account overdrafts and any other amounts due to the Bank under any existing or future agreements relating to cash management services, excluding, however, indebtedness incurred primarily for personal, family or household purposes (collectively. the "Obligations"), a first lien on, and a security
Security Interest; Collateral; Obligations. The Borrower hereby grants to the Bank, as security for any and all obligations whatsoever of the Borrower to the Bank, whether direct, indirect, absolute or contingent, due or to become due, and whether now existing or hereafter arising and howsoever evidenced or acquired, including without limitation all indebtedness and liabilities evidenced by the Loan, this Agreement, the other Loan Documents, or arising under any foreign exchange contracts, interest rate swap, cap, floor or hedging agreements, or other similar agreements or arrangements, letter of credit reimbursement agreements, and checking account overdrafts and any other amount due to the Bank under any existing or TECHNICAL COMMUNICATIONS CORPORATION future agreements relating to cash management services, excluding, however, indebtedness incurred primarily for personal, family or household purposes (collectively, the “Obligations”), a first lien on, and a security interest in and agrees and acknowledges that the Bank has and will continue to have a first lien on and a perfected security interest in all of the Collateral described below, both presently owned and after acquired, together with all proceeds and products thereof, additions and accessions thereto, and all replacements and substitutions therefor (collectively, the “Collateral”), excluding, however, all such Collateral which constitutes Consumer Goods in the hands of the Borrower: All personal property of the Borrower, wherever located, and whether now owned or hereafter acquired or arising, including, without limitation, Accounts, Chattel Paper including Electronic Chattel Paper, Contract and Letter of Credit Rights, Deposit Accounts, Documents, Farm Products, Fixtures, General Intangibles, Goods, Instruments, Inventory, Investment Property, Machinery, Furniture, Equipment and any accessions thereto, Money, Payment Intangibles, Promissory Notes, Securities, Software.
