UCC Security Interest Sample Clauses

UCC Security Interest. This Lease shall also constitute a security agreement under the Uniform Commercial Code of the District, State or Commonwealth in which the Demised Premises are located. Upon the occurrence of an event of default by Tenant under this Lease, Landlord shall have the option, in addition to any other remedies provided herein or by law or at equity, to enter the Demised Premises with or without the permission of Tenant and take possession of any and all of Tenant's Property situated in or related to the Demised Premises, without liability for trespass or conversion, and to enforce the lien and security interest hereby granted in any manner provided by law. Upon Landlord's request, Tenant will execute and deliver to Landlord UCC Financing Statements to evidence the above-described lien in favor of Landlord. Landlord shall be permitted from time to time to file such statements in the appropriate City, County, District, State and/or Commonwealth offices to perfect such lien. All expenses incurred by Landlord, including attorneys' fees, to prepare and file such statements (and any extensions, renewals, assignments, transfers, releases and terminations relating thereto) shall be immediately reimbursed by Tenant upon demand. If Tenant fails to deliver such UCC Financing Statements within ten (10) working days after Landlord's request, Tenant by such failure irrevocably constitutes and appoints Landlord as its special attorney-in-fact to execute and record the statements (and any extensions, renewals, assignments, transfers, releases and terminations relating thereto), the foregoing power of attorney being coupled with an interest.
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UCC Security Interest. As security for the performance of Borrower's Obligations pursuant to this Agreement, and the other Documents, Borrower hereby mortgages, pledges and assigns to Lender, and gives and grants to Lender a security interest in all of its right, title and interest in and to the items and types of property described or referred to below, whether now owned or hereafter acquired, and the proceeds and products thereof (all of which property is herein collectively called the "Collateral"), which security interest has and shall remain first and prior to all other security interests therein and which Collateral shall remain free and clear of all mortgages, pledges, security interests, liens and other encumbrances and restrictions on the transfer thereof, except as specifically set forth in Subsection (b) hereof and in SCHEDULE "D" attached hereto:
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UCC Security Interest. At Purchaser’s request, Seller shall provide Purchaser with evidence, at Seller’s expense, that there exists no security interest in the Servicing Rights given by Seller to a third party, such evidence to consist of (i) a UCC search by Seller directly or a reputable third party vendor which shows to Purchaser’s reasonable satisfaction that no such security interest exists as of the related Closing Date, Seller to provide such evidence no later than the related Transfer Date and/or (ii) an opinion letter of Seller’s counsel, dated the related Transfer Date, which shall opine to Purchaser’s reasonable satisfaction that no third-party security interest given by Seller exists in the Servicing Rights. Seller represents and warrants that effective on the related Closing Date, neither any warehouse or secured lender shall have any right, title or interest in the related Servicing Rights. In the event that such a security interest is shown to exist per item (i) above, Seller shall immediately provide Purchaser with such documentation as is required by Purchaser to evidence removal of such security interest immediately thereafter, including any appropriate security interest waiver executed by the security holder.
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UCC Security Interest. Lender shall require a first lien on all personal property, fixtures and equipment now or hereafter used in the operation of the Project (other than personal property leased pursuant to leases for which Lender has given its prior written approval), with necessary security agreements and Uniform Commercial Code Financing Statements to be executed and filed with the appropriate county and/or state offices, all as provided in Section II.C.5 hereof. Borrower agrees to furnish continuation statements at required intervals. Lender is to receive satisfactory evidence that Lender's lien on said personal property, fixtures and equipment is a first and prior lien.
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UCC Security Interest. Lender shall require a first lien on all personal property, fixtures and equipment now or hereafter used in the operation of the Project, with necessary security agreements and Uniform Commercial Code Financing Statements to be executed and filed with the appropriate county and/or state offices. Borrower agrees to furnish continuation statements at required intervals. Lender is to receive satisfactory evidence that Lender's lien on said personal property, fixtures and equipment is a first and prior lien.
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UCC Security Interest. At Purchaser’s request, Seller shall provide Purchaser with evidence, at Seller’s expense, that there exists no security interest in the Servicing Rights given by Seller to a third party, including any Government Entity, such evidence to consist of a UCC search by Seller directly or a reputable third party vendor which shows to Purchaser’s reasonable satisfaction that no such security interest exists as of the Closing Date, Seller to provide such evidence no later than the Closing Date. Seller represents and warrants that effective on the Closing Date, neither any warehouse nor secured lender shall have any right, title or interest in the related Servicing Rights. In the event that such a security interest is shown to exist, Seller shall immediately provide Purchaser with such documentation as is required by Purchaser to evidence removal of such security interest immediately thereafter, including any appropriate security interest waiver executed by the security holder.
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UCC Security Interest. 6 3.6 Taxes....................................................................6 3.7 Insurance................................................................6 3.8
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UCC Security Interest. This Deed of Trust constitutes both a mortgage and a "security agreement" within the meaning of the Uniform Commercial Code of the applicable jurisdiction (the "UCC") , and the Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Grantor in the Mortgaged Property. Grantor by executing and delivering this Deed of Trust has granted to Trustee and Bank, as security for the Secured Obligations, a security interest in and to those portions of the Mortgaged Property in which a security interest can be granted under the UCC. Portions of the Mortgaged Property are or are to become fixtures as defined in the UCC. This Deed of Trust constitutes and is effective as a fixture filing as provided in Section 9402 of the UCC. This Deed of Trust secures an obligation incurred for the construction of improvements on the Land and is a "construction mortgage" under Section 9313 of the UCC.
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UCC Security Interest. Seller shall provide Purchaser with evidence, at Seller's expense, that there exists no security interest in the Servicing given by Seller to a third party, including an Agency, except for that certain security interest in favor of National City Bank of Kentucky, such evidence to consist of (i) a UCC search by Seller directly or a reputable third party vendor which shows to Purchaser's reasonable satisfaction that no such security interest exists as of the Sale Date, Seller to provide such evidence no later than the Approval Date, (ii) written acknowledgement that no such security interest exists from the applicable Agency investors, and (iii) at the request of Purchaser, an opinion letter of Seller's counsel, dated the Approval Date, which shall opine to Purchaser's reasonable satisfaction that no third-party security interest given by the Seller exists in the Servicing, except as disclosed in this Section 7.23. In the event that such a security interest is shown to exist per item (i) above, and in connection with the security interest which exists in favor of National City Bank of Kentucky, Seller shall immediately provide Purchaser with such documentation as is required by Purchaser to evidence removal of such security interest by the Sale Date, including any appropriate security interest waiver executed by the security holder. Purchaser agrees to execute, as of the Sale Date, an acknowledgement of a security interest in Seller's right to receive proceeds under the terms of this Sale Agreement in favor of National City Bank of Kentucky, in a form reasonably acceptable to Purchaser and Seller.
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Related to UCC Security Interest

  • Security Interest This Agreement creates a valid and continuing security interest (as defined in the UCC) in the Receivables in favor of the Issuer, which security interest is prior to all other Liens, and is enforceable as such against creditors of and purchasers from the Seller.

  • Perfected Security Interest On the Closing Date, after giving effect to the filing of the FAA Filed Documents and the Financing Statements, Mortgagee shall have received a duly perfected first priority security interest in all of Owner's right, title and interest in the Aircraft, subject only to Permitted Liens.

  • Valid Security Interest This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Sold Property in favor of the Issuer, which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and purchasers from the Depositor.

  • Collateral; Security Interest (a) Pursuant to the Custodial Agreement, the Custodian shall hold the Mortgage Loan Documents as exclusive bailee and agent for the Lender pursuant to terms of the Custodial Agreement and shall deliver to the Lender Trust Receipts (as defined in the Custodial Agreement) each to the effect that it has reviewed such Mortgage Loan Documents in the manner and to the extent required by the Custodial Agreement and identifying any deficiencies in such Mortgage Loan Documents as so reviewed.

  • Security Interest/Priority This Security Agreement creates a valid security interest in favor of the Agent, for the benefit of the Lenders, in the Collateral of such Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

  • Security Interest and Collateral In order to secure the payment and performance of the Secured Obligations, the Debtor hereby grants to the Secured Party a security interest (herein called the “Security Interest”) in and to the following property (hereinafter collectively referred to as the “Collateral”): SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY THIS REFERENCE.

  • Perfected First Priority Liens (a) This Agreement is effective to create, as collateral security for the Obligations of such Grantor, valid and enforceable Liens on such Grantor’s Security Collateral in favor of the Collateral Agent for the benefit of the Secured Parties, except as to enforcement, as may be limited by applicable domestic or foreign bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights’ generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.

  • Security Interests No party to this Escrow Agreement shall grant a security interest in any monies or other property deposited with the Escrow Agent under this Escrow Agreement, or otherwise create a lien, encumbrance or other claim against such monies or borrow against the same.

  • Security Interest in Collateral The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law or agreement and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral.

  • Grant of a Security Interest It is the express intent of the parties hereto that the conveyance of the Mortgage Loans by the Seller to the Purchaser as provided in Section 2 hereof be, and be construed as, a sale of the Mortgage Loans by the Seller to the Purchaser and not as a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller. However, if, notwithstanding the aforementioned intent of the parties, the Mortgage Loans are held to be property of the Seller, then, (a) it is the express intent of the parties that such conveyance be deemed a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller, and (b) (i) this Agreement shall also be deemed to be a security agreement within the meaning of Article 9 of the Uniform Commercial Code of the applicable jurisdiction; (ii) the conveyance provided for in Section 2 hereof shall be deemed to be a grant by the Seller to the Purchaser of a security interest in all of the Seller's right, title and interest in and to the Mortgage Loans, and all amounts payable to the holder of the Mortgage Loans in accordance with the terms thereof, and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, including, without limitation, all amounts, other than investment earnings, from time to time held or invested in the Certificate Account, the Distribution Account or, if established, the REO Account (each as defined in the Pooling and Servicing Agreement) whether in the form of cash, instruments, securities or other property; (iii) the assignment to the Trustee of the interest of the Purchaser as contemplated by Section 1 hereof shall be deemed to be an assignment of any security interest created hereunder; (iv) the possession by the Trustee or any of its agents, including, without limitation, the Custodian, of the Mortgage Notes, and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be possession by the secured party for purposes of perfecting the security interest pursuant to Section 9-313 of the Uniform Commercial Code of the applicable jurisdiction; and (v) notifications to persons (other than the Trustee) holding such property, and acknowledgments, receipts or confirmations from persons (other than the Trustee) holding such property, shall be deemed notifications to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the secured party for the purpose of perfecting such security interest under applicable law. The Seller and the Purchaser shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement and the Pooling and Servicing Agreement.

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