UCC Security Agreement Sample Clauses

UCC Security Agreement. (a) This Contract is intended as and constitutes a security agreement pursuant to the UCC with respect to all personal property acquired or refinanced by the Borrower with funds advanced by Truist pursuant to this Contract, all personal property obtained in substitution or replacement therefore, and all personal property obtained in substitution or replacement for any portion of the Mortgaged Property, and all proceeds of the foregoing (collectively, the “Equipment”). The Borrower hereby grants to Truist a security interest in the Equipment to secure the Required Payments. (b) The security interest in the Equipment granted in this Section shall be in addition to, and not in lieu of, any lien upon or security interest in the Equipment acquired by real property law. (c) The Borrower shall allow Truist to deliver and file, or cause to be filed, in such place or places as may be required by law, financing statements (including any continuation statements required by the UCC or determined by Truist) in such form as Truist may reasonably require to perfect and continue the security interest in the Equipment.

UCC Security Agreement. This Mortgage constitutes a security agreement under the Uniform Commercial Code of the State of Illinois (the “Code”) with respect to any part of the Property, which might now or hereafter be or be deemed to be personal property, fixtures or property other than real estate (for the purposes of this Paragraph 19 called “Collateral”), and Mortgagor hereby grants to Mortgagee a security interest in the Collateral to secure the Secured Obligations. As to its security interest in the Collateral, Mortgagee shall have all of the rights and remedies of a “secured party” under the Code. The provisions of this Paragraph 19 shall not limit the generality or applicability of any other provision of this Mortgage, but shall be in addition thereto. This Mortgage constitutes a “fixture filing” under the Code as to all of the Collateral which is or hereafter becomes a fixture under applicable law.

UCC Security Agreement. (a) This Agreement is intended as and constitutes a security agreement pursuant to the UCC with respect to the following: (i) all moneys on deposit from time to time in the Project Funds; and (ii) all property acquired by the City with funds advanced by BB&T pursuant to this Agreement, all personal property obtained in substitution or replacement therefore, and all personal property obtained in substitution or replacement for any portion of the Security Property, and all proceeds of the foregoing (collectively, the "Equipment"). The City hereby grants to BB&T a security interest in the Equipment and in the moneys on deposit from time to time in the Project Fund to secure the Required Payments. (b) The City shall allow BB&T to deliver and file, or cause to be filed, in such place or places as may be required by law, financing statements (including any continuation statements required by the UCC or determined by BB&T) in such form as BB&T may reasonably require to perfect and continue the security interest in the Equipment and in the moneys on deposit from time to time in the Project Fund.

UCC Security Agreement. This Mortgage is hereby deemed to be as well a Security Agreement and creates a security interest in and to the Collateral securing the indebtedness secured by this Mortgage. Without derogating any of the provisions of this instrument, Agency and Mortgagor to the extent permitted by law hereby: (a) grant to Mortgagee a security interest in and to all Collateral, including without limitation the items referred to above, together with all additions, accessions and substitutions and all similar property hereafter acquired and used or obtained for use on or in connection with the Mortgaged Property. The proceeds of the Collateral are intended to be secured hereby; however, such intent shall never constitute an expressed or implied consent on the part of Mortgagee to the sale of any or all Collateral; (b) agree that the security interest hereby granted shall secure the payment of the indebtedness specifically described herein together with payment of any future debt or advancement owing by Mortgagor to Mortgagee with respect to the Mortgaged Property; (c) except as otherwise provided herein, agree not to remove from the Mortgaged Property, sell, convey, mortgage or grant a security interest in, or otherwise dispose of or encumber, any of the Collateral or any of the Mortgagor's right, title or interest therein, without first obtaining Mortgagee's written consent; Mortgagee shall have the right, at its sole option, to require Mortgagor to apply the proceeds from the disposition of Collateral in reduction of the indebtedness secured hereby; (d) agree that if Agency and Mortgagor's rights in the Collateral are voluntarily or involuntarily transferred, whether by sale, creation of a security interest, attachment, levy, garnishment or other judicial process, without the prior written consent of Mortgagee, such transfer shall constitute an Event of Default hereunder; (e) agree that upon or after the occurrence of any Event of Default, Mortgagee shall have all rights and remedies contemplated hereunder, including, without limitation, the right to take possession of the Collateral, and for this purpose Mortgagee shall have the right to enter upon any Premises on which any or all of the Collateral is situated without being deemed guilty of trespass and without liability for damages thereby occasioned, and take possession of and operate the Collateral or remove it therefrom. Mortgagee shall have the further right, as Mortgagee may determine, to repair, refurbish or other...

UCC Security Agreement. (a) This Agreement is intended as and constitutes a security agreement pursuant to the UCC with respect to the following: (i) all moneys on deposit from time to time in the Project Fund; and (ii) all property acquired by the Lessee with funds advanced by Truist pursuant to this Agreement, all personal property obtained in substitution or replacement therefore and all personal property obtained in substitution or replacement for any portion of the Security Property, and all proceeds of the foregoing (collectively, the “Equipment”). The Lessee hereby grants to Truist a security interest in the Equipment and in the moneys on deposit from time to time in the Project Fund to secure the Required Payments. (b) The Lessee shall allow Truist to deliver and file, or cause to be filed, in such place or places as may be required by law, financing statements (including any continuation statements required by the UCC or determined by Truist) in such form as Truist may reasonably require to perfect and continue the security interest in the Equipment and in the moneys on deposit from time to time in the Project Fund.

UCC Security Agreement. This Deed of Trust is intended to be a security agreement pursuant to the Uniform Commercial Code for any of the items specified herein as the Property which may be subject to a security interest pursuant to the Uniform Commercial Code, and Trustor hereby grants Beneficiary a security interest in the Property to the extent that a security interest can be granted under Article 9 of the Uniform Commercial Code (the “Personal Property”). Trustor agrees that Beneficiary may file this Deed of Trust, or a reproduction thereof, or any financing statement naming Trustor as debtor and Beneficiary as creditor in the real estate records. Any reproduction of this Deed of Trust shall be sufficient as a financing statement. In addition, Trustor agrees to execute and deliver to Beneficiary upon Beneficiary’s request any financing statements, as well as extensions, renewals and amendments thereof, and reproductions of this Deed of Trust in such form as Beneficiary may reasonably require to perfect a security interest with respect to the Personal Property; Trustor shall pay all costs of filing such financing statements and any extensions, renewals, amendments and releases thereof, and shall pay all reasonable costs and expenses of any record searches for financing statements Beneficiary may require.. Upon any Event of Default under this Deed of Trust, Beneficiary shall have the remedies of a secured party under the Uniform Commercial Code and, at Beneficiary’s option, may also invoke the remedies provided in this Deed of Trust. In exercising any of said remedies, Beneficiary may proceed against the items of real property as part of the Property separately or together and in any order whatsoever, without in any way affecting the availability of Beneficiary’s remedies under the Uniform Commercial Code or of the remedies in this Deed of Trust.