Examples of Revolving Credit Security Agreement in a sentence
Mr. Richard questioned the amendment was retroactive or grandfathered for current subdivisions under construction.
The provisions of the Modified and Restated Revolving Credit Security Agreement, when duly executed by the Borrower and UCC-1 financing statements are filed with the Secretary of State of the State of New York are effective to create in favor of the Bank, a legal, valid, perfected and enforceable first position security interest in all right, title, and interest of the Borrower in the Collateral described thereon.
The Company and the Administrative Agent are party to a Revolving Credit Security Agreement and a Term Loan Security Agreement, each dated October 29, 1993.
The Bank shall not be obligated to make any advance hereunder if a default shall have occurred hereunder, under the Revolving Line of Credit Note or Modified and Restated Revolving Credit Security Agreement or under any other monetary obligation of the Borrower to the Bank.
To induce said lenders to enter into the Credit Agreement and to extend credit thereunder, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company has agreed to amend and restate the foresaid Revolving Credit Security Agreement and Term Loan Security Agreement so that, as so amended and restated, they are combined into one document and read in their entirety as herein provided.