Definition of Guarantor Security Agreements


Guarantor Security Agreements means all security agreements, mortgages, cash collateral deposit letters, pledges and other agreements which are executed by any Guarantor in favor of Laurus.
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Examples of Guarantor Security Agreements in a sentence

All of the obligations of the Subsidiaries under the Guaranty Agreement shall be secured by a lien on all the personal property and assets of each respective Subsidiary now existing or hereinafter acquired granted pursuant to those certain Guarantor Security Agreements dated as of February 1, 2007 (each a "Guarantor Security Agreement"), which, except for Permitted Liens, shall be a first lien.
Each of the Company and the Guarantors ratifies and confirms that the Loan Agreement, the Guaranties, the Borrower Security Agreement, the Guarantor Security Agreements, the Pledge Agreements, and the other Loan Documents are and remain in full force and effect in accordance with their respective terms, as amended hereby.
The Holder has been granted a security interest in certain assets of (a) the Company under the 2004 Security Agreement and the Pledge Agreement and (b) the Guarantors under the Guarantor Security Agreements.
The parties further acknowledge and agree that the lien on the personal property of XFSC does not include the accounts receivable of XFSC as is set forth in XFSC's security agreement with Purchaser and that liens granted pursuant to the Guarantor Security Agreements are and shall remain expressly subordinated and junior to the liens of Gottbetter as further set forth in the Guarantor Security Agreements.
The prompt payment and performance of all of the Obligations shall be secured by the Liens granted to Agent for the benefit of the Lender Group pursuant to the Security Documents, to the extent provided in the Security Documents, including the Liens created by the Mortgages upon all Real Estate and the Liens created under the Borrower Security Agreement and the Guarantor Security Agreements.