Supplemental Collateral Clause Samples
The Supplemental Collateral clause requires a party to provide additional collateral beyond the initial amount agreed upon, typically to secure ongoing obligations under a contract. This clause is often triggered if the value of the original collateral decreases or if the party's financial condition changes, prompting the need for extra security such as cash, securities, or other assets. Its core function is to protect the interests of the secured party by ensuring that sufficient collateral is always maintained, thereby reducing the risk of loss if the other party defaults.
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Supplemental Collateral. If MLMCI shall at any time determine with respect to a Loan that the Current Margin is less than the related Margin Requirement, MLMCI may in its discretion notify Assignor of such fact, and Assignor shall, on the day of such notice, if such notice is received prior to 10:00 a.m. New York City time, and on the Business Day next succeeding the day of such notice, if such notice is received after 10:00 a.m. New York City time, deliver to MLMCI cash or Supplemental Collateral acceptable to MLMCI in its sole reasonable judgment as Collateral hereunder, which cash shall be applied to reduce the principal balance of the related Loan and which Supplemental Collateral shall, in the aggregate, equal an amount such that, after giving effect to the application of such cash and the delivery of such Supplemental Collateral, the Current Margin for such Loan will be at least equal to the related Margin Requirement. Delivery of Supplemental Collateral pursuant to this Section 5(c) shall be in such manner as is acceptable to, and under such additional conditions as may be required by, MLMCI in its sole reasonable judgment.
Supplemental Collateral. Capitalized terms used but not defined in this Section 2(l)(ii) and not defined in the Agreement shall have the meanings given to them in the PharmaBio Agreement.
(A) Debtor grants to Secured Party, its successors and assigns to Secured Party, its successors and assigns, a security interest in all of the Supplemental Collateral.
(B) For purposes of this Section 2(l), “Supplemental Collateral” shall mean (but only to the extent the following elements of the Supplemental Collateral relate to or arise out of or in connection with the sale, lease, conveyance, transfer or disposition of any right, title or interest in, to or under the Product, the Product Intellectual Property or the License Agreement in the Territory) all right, title and interest of Borrower in, to and under any and all of the following, whether now existing or hereafter existing or acquired from time to time, in the Territory: (a) all Accounts, Chattel Paper, Contract Rights, Contracts, Commercial Tort Claims, Deposit Accounts, Documents, General Intangibles, Instruments, monies, Payment Intangibles, Promissory Notes and Receivables, relating to, arising out of or in connection with any sale, lease, conveyance, transfer or disposition of any right, title or interest in, to or under the Product, the Product Intellectual Property or the License Agreement; (b) all regulatory applications, filings or similar items related to the Product, including without limitation the NDA for the Product and all supplements, records, and reports that are required to be maintained under applicable FDA regulations and all related correspondence to and from the FDA, and all clinical data related to any such regulatory applications, filings or similar items; (c) all books, records, computer information, files, documents, data or other materials related to or arising out of or in connection with any and all of the foregoing; and (d) all Proceeds of any and all of the foregoing; provided, however, that the Supplemental Collateral shall not include the Product Intellectual Property or the License Agreement themselves; provided, further, that the Supplemental Collateral shall not include Proceeds derived from or in connection with the sale, lease, conveyance, transfer or disposition of any right, title or interest in Intellectual Property of Borrower to the extent, and only to the extent, that such Proceeds relate to the sale, lease, conveyance, transfer or disposition of any right, title or interest in products other...
Supplemental Collateral. Each party hereto acknowledges that the Supplemental Collateral is solely for the benefit of the Lessor and none of the Purchasers or the Administrative Agent shall have any interest therein.
Supplemental Collateral. If SBRC shall at any time determine with respect to a Loan that the Current Margin is less than the related Margin Requirement, SBRC may in its
Supplemental Collateral. The Lessee shall at all times cause the Supplemental Collateral to be maintained, subject at all times to a perfected lien in favor of the Administrative Agent, in an amount not less than the Lessor Amount in effect on the Acquisition Date and in a duration satisfactory to the Lessor.
Supplemental Collateral. On the Acquisition Date, the Lessee shall have delivered the Supplemental Collateral to the Lessor, and the Supplemental Collateral shall be satisfactory to the Lessor in all respects.