Common use of Special Collateral Clause in Contracts

Special Collateral. Immediately upon any Borrower's receipt of any Special Collateral, such Borrower shall ▇▇▇▇ the same to show that such Special Collateral is subject to a first position security interest and lien in favor of Lender and shall deliver the original thereof to Lender, together with an appropriate endorsement or other specific evidence of assignment in form and substance acceptable to Lender.

Appears in 1 contract

Sources: Loan and Security Agreement (Vita Food Products Inc)

Special Collateral. Immediately upon any Borrower's receipt of any that portion ------------------ of the Collateral consisting of Special Collateral, such Borrower shall ▇▇▇▇ the same to show that such Special Collateral is subject to a first position security interest and lien in favor of Lender and shall deliver the original thereof to Lender, together with an appropriate endorsement or and/or other specific evidence of assignment thereof to Lender, in form and substance acceptable to Lender.

Appears in 1 contract

Sources: Loan and Security Agreement (Icon Holdings Corp)

Special Collateral. Immediately upon any Borrower's receipt of any that portion of the Collateral evidenced by an agreement, instrument and/or document ("Special Collateral"), such Borrower shall ▇▇▇▇ mark the same to show that such Special ▇▇▇cial Collateral is subject to a first position security interest and lien in favor of Lender and shall deliver the original thereof to Lender, together with an appropriate endorsement or other and/or specific evidence of assignment (in form and substance acceptable to Lender) thereof to Lender.

Appears in 1 contract

Sources: Loan and Security Agreement (Circuit Systems Inc)

Special Collateral. Immediately upon any Borrower's receipt of any that portion of the Collateral evidenced by an agreement, instrument and/or document other than as relates to Accounts as such ("Special Collateral, such ") Borrower shall mark ▇▇▇ the same to show that such Special Collateral is subject to a first position security interest and lien in favor of Lender Bank and shall deliver the original thereof to LenderBank, together with an appropriate endorsement or and/or other specific evidence of assignment (in form and substance acceptable to LenderBank).

Appears in 1 contract

Sources: Revolving Loan and Security Agreement (Universal Electronics Inc)

Special Collateral. Immediately upon any Borrower's receipt of any Special Collateral, such Borrower shall ▇▇▇▇ the same to show that such Special Collateral is subject to a first position security interest and lien in favor of Lender the Bank and shall deliver the original thereof to Lenderthe Bank, together with an appropriate endorsement or other specific evidence of assignment in form and substance acceptable to Lenderthe Bank.

Appears in 1 contract

Sources: Loan and Security Agreement (Rowecom Inc)

Special Collateral. Immediately upon any Borrower's ’s receipt of any Special CollateralCollateral with a value of $10,000 or more, such Borrower shall ▇▇▇▇ the same to show that such Special Collateral is subject to a first position security interest and lien in favor of Lender and shall deliver the original thereof to Lender, together with an appropriate endorsement or other specific evidence of assignment in form and substance acceptable to Lender.

Appears in 1 contract

Sources: Loan and Security Agreement (Total Apparel Group , Inc.)

Special Collateral. Immediately upon any Borrower's ’s receipt of any Special Collateral, such Borrower shall ▇▇▇▇ the same to show that such Special Collateral is subject to a first position security interest and lien in favor of Lender and shall deliver the original thereof to Lender, together with an appropriate endorsement or other specific evidence of assignment in form and substance acceptable to Lender.

Appears in 1 contract

Sources: Loan and Security Agreement (United American Healthcare Corp)