Security Interest Consent Clause Samples
Security Interest Consent. If any Member grants a security interest in any Membership Interest, upon request by such Member, each other Member will execute and deliver to any person holding such security interest (for itself and/or for the benefit of other lenders) such acknowledgments, consents or other instruments as such person may reasonably request to confirm that such grant and any foreclosure or other exercise of remedies in respect of such Membership constitutes a Permitted Transfer under this Agreement.
Security Interest Consent. If the Class B Member grants a security interest in any Class B Membership Interest in compliance with Section 9.3(a), upon request by such Class B Member, each Class A Member will execute and deliver to any person holding such security interest (for itself and for the benefit of other lenders) such acknowledgments, consents or other instruments as such person may reasonably request to confirm that such grant and any foreclosure or other exercise of remedies in respect of such Class B Membership Interest constitutes a Permitted Transfer under this Agreement. If any Class A Member grants a security interest in any Class A Membership Interest in compliance with this Agreement, upon request by such Class A Member, the Class B Member will execute and deliver to any person holding such security interest (for itself and for the benefit of other lenders) such acknowledgments, consents or other instruments as such person may reasonably request to confirm that such grant and any foreclosure or other exercise of remedies in respect of such Class A Membership Interest constitutes a Permitted Transfer under this Agreement.
Security Interest Consent. If any Class A Member grants a security interest in any Class A Membership Interest, upon request by such Class A Member, each Class B Member will execute and deliver to any Person holding such security interest (for itself and/or for the benefit of other lenders) such acknowledgments, consents or other instruments as such person may reasonably request to confirm that such grant and any foreclosure or other exercise of remedies in respect of such Class A Membership constitutes a Permitted Transfer under this Company LLC Agreement, subject to the condition set forth in Section 9.2(g).
Security Interest Consent. If any Member grants a security interest in any Membership Interest to a Class A Approved Transferee, upon request by such Member, each other Member will execute and deliver to such Class A Approved Transferee holding such security interest (for itself and/or for the benefit of other lenders) such acknowledgments, consents or other instruments as such Class A Approved Transferee may reasonably request to confirm that such grant and any foreclosure or other exercise of remedies in respect of such Membership constitutes a Permitted Transfer under this Agreement. ARTICLE X
Security Interest Consent. Following the payoff of the Wachovia Facility, and in any event not later than September 1, 2008, the Company shall grant to the Investor a first priority perfected security interest in and to the assets of Dynamic Health Products, Inc., a Florida corporation and a wholly owned subsidiary of the Company (“Dynamic Health”), along with Dynamic Health’s wholly owned subsidiaries Online Meds Rx, Inc., Herbal Health Products, Inc., Dynamic Marketing I, Inc., Pharma Labs Rx, Inc., and ▇▇▇ ▇’▇▇▇▇▇ Health Food Distributor Co., Inc. (together with Dynamic Health, collectively the “BOSS Subsidiaries”) and any subsidiaries of any such BOSS Subsidiary; provided, however, that if the Company extends or refinances the Wachovia Facility in accordance with the terms set forth in this Agreement beyond August 31, 2008, the Company shall use commercially reasonable efforts to (i) grant to the Investor a second priority perfected security interest in and to the assets of the BOSS Subsidiaries and (ii) enter into an intercreditor agreement by and between Wachovia and the Investor in connection with the extension of the Wachovia Facility. In addition, the Investor may request at any time that the Company use commercially reasonable efforts to obtain, within thirty (30) days of the receipt of such request, such consent or intercreditor agreement from Wachovia as shall be necessary for the Company and the BOSS Subsidiaries to grant to the Investor a security interest in and to the assets of the BOSS Subsidiaries. Furthermore, if the Investor exercises its option, pursuant to Section 2.5 hereof, to pay off the Wachovia Facility, the Company shall grant Investor a first priority perfect security interest in and to the assets of the BOSS Subsidiaries upon the closing of such purchase of Additional Notes.