Common use of Uniform Commercial Code Security Agreement Clause in Contracts

Uniform Commercial Code Security Agreement. This Loan Agreement is also a security agreement for any of the Mortgaged Property which, under applicable law, may be subjected to a security interest under the UCC, for the purpose of securing Borrower’s obligations under this Loan Agreement and to further secure Borrower’s obligations under the Note, Security Instrument and other Loan Documents, whether such Mortgaged Property is owned now or acquired in the future, and all products and cash and non-cash proceeds of the Mortgaged Property (collectively, “UCC Collateral”), and by this Loan Agreement, Borrower grants to Lender a security interest under the UCC in the UCC Collateral.

Uniform Commercial Code Security Agreement. This Loan Agreement is also a security agreement under the Uniform Commercial Code for any of the Mortgaged Property which, under applicable lawApplicable Law, may be subjected to a security interest under the UCCUniform Commercial Code, for the purpose of securing Borrower’s obligations under this Loan Agreement and to further secure Borrower’s obligations under the Note, Security Instrument and other Loan Documents, whether such Mortgaged Property is owned now or acquired in the future, and all products and cash and non-cash proceeds of the Mortgaged Property thereof (collectively, “UCC Collateral”), and by this Loan Agreement, Borrower grants to Lender a security interest under the UCC in the UCC Collateral.

Uniform Commercial Code Security Agreement. This Loan Agreement is also a security agreement under the Uniform Commercial Code for any of the Mortgaged Property Collateral which, under applicable lawApplicable Law, may be subjected to a security interest under the UCCUniform Commercial Code, for the purpose of securing Borrower’s obligations under this Loan Agreement and to further secure Borrower’s obligations under the Note, Security Instrument Pledge Agreement and other Loan Documents, whether such Mortgaged Property Collateral is owned now or acquired in the future, and all products and cash and non-cash proceeds of the Mortgaged Property thereof (collectively, “UCC Collateral”), and by this Loan Agreement, Borrower grants to Lender a security interest under the UCC in the UCC Collateral.