Security – Loan Clause Samples
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Security – Loan. The Obligors’ obligations and liabilities under this Agreement, including (without limitation) the Obligors’ obligation to repay the Facility together with all unpaid interest, default interest, commissions, charges, expenses, recovery costs and any other derived liability whatsoever of the Obligors towards the Finance Parties in connection with this Agreement, shall at any time until all amounts due to the Finance Parties hereunder have been paid and/or repaid in full, be secured by:
a) the Mortgage;
b) the Assignment Agreement;
c) the Share Pledge Agreement;
d) the Guarantee;
e) the Technical Manager’s Undertakings; and
f) the Swap Agreement Assignments.
Security – Loan. The Obligors’ obligations and liabilities under the Finance Documents, including (without limitation) the Obligors’ obligation to repay the Loans together with all unpaid interest, default interest, commissions, charges, expenses and any other derived liability whatsoever of the Obligors towards the Finance Parties in connection with this Agreement and any Finance Document, shall at any and all times during the Security Period, be secured by:
(i) the Mortgages;
(ii) the Assignment Agreement; and
(iii) any Charterparty Assignment,
(iv) if requested by the Majority Lenders, a security interest over the shares in an Additional Guarantor; and
(v) if requested by the Majority Lenders, a security interest over any intercompany loan or credit granted by the Borrower to an Additional Guarantor. (together the “Security Documents”).
Security – Loan. The Obligors' obligations and liabilities under the Finance Documents, including (without limitation) the Obligors' obligation to repay the Loans together with all unpaid interest, default interest, commissions, charges, expenses and any other derived liability whatsoever of the Obligors towards the Finance Parties in connection with this Agreement and any Finance Document, shall at any and all times during the Security Period, be secured by:
(i) the Mortgages;
(ii) the Assignment Agreements;
(iii) the Parent's Assignment Agreement; and
(iv) the Share Pledge Agreements, (together the "Security Documents").
Security – Loan. The Borrower’s obligations and liabilities under the Finance Documents, including (without limitation) the Borrower’s obligation to repay the Loan together with all unpaid interest, default interest, commissions, charges, expenses and any other derived liability whatsoever of the Borrower towards the Lenders and the Agent in connection with this Agreement, shall at any time until all amounts due to the Lenders and the Agent hereunder have been paid and/or repaid in full, be secured by:
a) the Mortgages;
b) the Deeds of Covenants;
c) the Assignment Agreements;
d) the Account Charges; and
Security – Loan. Upon execution of this Agreement, XIT shall loan to the Partnership an amount not to exceed Seven Hundred Fifty Thousand Dollars ($750,000) (the "Security Loan"). The Security Loan shall be on terms and conditions identical to those terms and conditions upon which XIT borrows the amounts comprising said Security Loan from Imperial Bank. The Security Loan shall be used by the Partnership as collateral for the Imperial Bank credit facility to be entered into by the Partnership contemporaneously herewith. The Security Loan shall be a loan, not a contribution of capital, and shall not be a part of XIT's Capital Account. The Security Loan may not be converted or exchanged into a partnership interest.
Security – Loan. The Borrower's obligations and liabilities under the Finance Documents, including (without limitation) the Borrower's obligation to repay the Loans together with all unpaid interest, default interest, commissions, charges, expenses and any other derived liability whatsoever of the Borrower towards the Finance Parties in connection with this Agreement and any Finance Document, shall at any time until all amounts due to the Finance Parties hereunder have been paid and/or repaid in full, be secured by:
(i) the Mortgages;
(ii) the Assignment Agreement; and
(iii) any Charterparty Assignment, (together the "Security Documents").
Security – Loan. The Borrower’s obligations and liabilities under this Agreement, including (without limitation) the Borrower’s obligation to repay the Loan together with all unpaid interest, default interest, commissions, charges, expenses and any other derived liability whatsoever of the Borrower towards the Lenders and the Agent in connection with this Agreement, shall at any time until all amounts due to the Lenders and the Agent hereunder have been paid and/or repaid in full, be secured by:
a) the Mortgage (including the deed of covenants (if any));
b) the Assignment Agreement;
c) the Account Pledge;
d) the Bareboat Charterparty Assignment; and