This Security Agreement definition

This Security Agreement is a "security agreement" within the meaning of the UCC. Each Grantor, by executing and delivering this Security Agreement, has granted to the Secured Party, as security for the Secured Obligations, a security interest in the Security Property in which it has an interest to the full extent that a security interest may be granted under applicable law.
This Security Agreement is given in connection with the loan evidenced by the certain Loan Agreement between the Fountain Powerboats, Inc., a North Carolina corporation (the "Borrower"), the Secured Party, the Debtor and certain other parties, dated December 31, 1996 (the "Loan Agreement"). The Borrower has previously executed that certain Master Security Agreement, dated December 31, 1996 (the "Borrower's Security Agreement").
This Security Agreement is given to secure all of the obligations and liabilities of Debtor to Secured Party, direct or indirect, absolute or contingent, now existing or hereafter arising, or now due or hereafter to become due, including, without limitation, all indebtedness under that certain Secured Promissory Note of even date herewith made by Debtor in favor of Secured Party in the original principal amount of $2,500,000.00 (the "Note") (all of the foregoing are collectively referred to herein as the "Obligations"). Debtor hereby warrants and agrees with Secured Party that:

Examples of This Security Agreement in a sentence

  • This Security Agreement may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this Security Agreement by signing any such counterpart.

  • This Security Agreement Supplement shall be governed by, and construed in accordance with, the laws of the State of New York.

  • This Security Agreement may be executed in any number of counterparts, each of which where so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.

  • This Security Agreement may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.

  • This Security Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.

  • This Security Agreement may be executed by one or more of the parties to this Security Agreement on any number of separate counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.

  • This Security Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Security Agreement.

  • This Security Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.

  • This Security Agreement has been executed in a number of identical counterparts, each of which shall be deemed an original for all purposes and all of which constitute, collectively, one agreement; but, in making proof of this Security Agreement, it shall not be necessary to produce or account for more than one such counterpart.

  • This Security Agreement, together with the other Loan Documents, supersedes all negotiations, representations, warranties, commitments, term sheets, discussions, negotiations, offers or contracts (of any kind or nature, whether oral or written) prior to or contemporaneous with the execution hereof with respect to any matter, directly or indirectly related to the terms of this Security Agreement and the other Loan Documents.


More Definitions of This Security Agreement

This Security Agreement means this Security Agreement including any schedules hereto and the terms "herein", "hereto", "hereof", "hereby", "hereunder" and similar terms refer to this Security Agreement so defined and any reference to a particular Section shall mean the appropriate Section of this Security Agreement.
This Security Agreement the "Agreement" or "any Security Agreement" shall mean and refer to any Loan Schedule and Supplemental Security Agreement which incorporates the terms of this Master Loan and Security Agreement, together with all exhibits, addenda, schedules, certificates, riders and other documents and instruments executed and delivered in connection with such Loan Schedule and Supplemental Security Agreement, all as the same may be amended or modified from time to time. Each Loan Schedule shall constitute a separate, distinct and independent security agreement and contractual obligation of Debtor. The security interest granted herein shall attach to each item of Collateral at the earlier of (i) Debtor's execution and delivery of the Note, Loan Schedule and Supplemental Security Agreement with respect to such item of Collateral; or (ii) the time that Secured Party advances any funds to or on behalf of Debtor in complete or partial payment for items of Equipment set forth on the respective Loan Schedule and Supplemental Security Agreement.
This Security Agreement is entered into with respect to a Senior Secured Note in the principal amount of $250,000 (the "SENIOR NOTE") delivered to Bupp (a) by Debtor pursuant to a 8.5% Senior Secured Note Purchase Agreement, as the same may be amended, modified or supplemented from time to time in accordance with the terms thereof (the "SENIOR PURCHASE AGREEMENT") dated the same date as this Security Agreement, and (b) a 9.5% Secured Convertible Note of even date herewith in the principal amount of $250,000 (the "CONVERTIBLE NOTE" and collectively with the Senior Note, the "NOTES", and individually a "NOTE") delivered to Garlikov by Debtor pursuant to a 9.5% Secured Note Convertible Note Purchase Agreement, as the same may be amended, modified or supplemented from time to time in accordance with the terms thereof (the "CONVERTIBLE PURCHASE AGREEMENT", and collectively with the Senior Purchase Agreement, the "PURCHASE AGREEMENTS" and individually a "PURCHASE AGREEMENT"). Capitalized terms not otherwise defined herein shall have the meaning(s) ascribed to them in the Purchase Agreement. Secured Party and Debtor agree as follows:
This Security Agreement or "ANY SECURITY AGREEMENT" shall mean and refer to any Equipment Schedule which incorporates the terms of this Master Security Agreement, together with all exhibits, addenda, schedules, certificates, riders and other documents and instruments executed and delivered in connection with such Equipment Schedule, all as the same may be amended or modified from time to time. Each Equipment Schedule shall constitute a separate, distinct and independent security agreement and contractual obligation of Customer. "AFFILIATE" means, with respect to any person, firm or entity, any other person, firm or entity controlling, controlled by, or under common control with such person, firm or entity, and for this purpose, "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of any such person, firm or entity, whether through the legal or beneficial ownership of voting securities, by contract or otherwise. Notwithstanding anything to the contrary, Seitel, Inc. and its wholly-owned subsidiaries shall not be an Affiliate of Customer for purposes of this Security Agreement. "COLLATERAL" means the Equipment and all present or future additions, attachments, accessions or accessories thereto and replacements thereof, all tools, manuals, service records, software and similar information and materials related to such Equipment, and the proceeds, from the sale, lease or other disposition of the Equipment, in the form of goods, accounts, chattel paper, documents, instruments and general intangibles, and insurance proceeds payable in respect of loss or damage to such Collateral. "EQUIPMENT" means machinery and equipment now owned or hereafter acquired by Customer, wherever the same may be located, which is described in one or more Equipment Schedules entered into from time to time by the parties hereto. The term "ITEM OF EQUIPMENT" shall mean each functionally integrated and marketable group or unit of Equipment; and any determination of the outstanding principal balance of the Note
This Security Agreement. Code" shall mean the Uniform Commercial Code, as enacted in the State of Connecticut and as amended from time to time. "Collateral" shall mean all cash provided, submitted, wired or otherwise transferred by the Debtor to the Secured Party from time to time in satisfaction of, or in compliance with, any of the Debtor's obligations under the NEPOOL Financial Assurance Policies, and the products and proceeds thereof. "NEPOOL Financial Assurance Policies" shall mean each of the Financial Assurance Policies in the NEPOOL Tariff, as amended, supplemented or restated from time to time, including but not limited to the Financial Assurance Policies in Attachments L, M and O to the NEPOOL Tariff. "NEPOOL Tariff" shall mean the Restated NEPOOL Open Access Transmission Tariff as filed with the Federal Energy Regulatory Commission on July 22, 1998 and as amended, supplemented and/or restated from time to time. "Obligations" shall mean any and all amounts due from the Debtor from time to time under the Restated NEPOOL Agreement, the NEPOOL Tariff, the Interim Independent System Operator Agreement between the Participants and ISO New England Inc. (the "ISO"), the ISO's Tariff for Capital Funding, and the ISO's Tariff for Transmission Dispatch and Power Administration Services. "Participants" shall have the meaning set forth in the Restated NEPOOL Agreement. "Restated NEPOOL Agreement" shall have the meaning set forth in preamble to this Security Agreement. b. Any capitalized term not defined herein that is defined in the Code shall have the meaning as defined in the Code.
This Security Agreement is given simultaneously with that certain Loan Agreement between the Debtor, the Secured Party, and certain other parties, dated of even date herewith (the "Loan Agreement"). In addition, to further secure the Note (hereinafter defined), the Debtor has executed that certain Deed of Trust, Assignment of Rents and Security Agreement, dated of even date herewith, with respect to certain real property now owned by the Debtor and located in Beaufort County, North Carolina and described in Exhibit B attached hereto and incorporated herein by reference (the "Real Property") (such deed of trust being referred to as the "Deed of Trust") and has also executed certain other loan documents in connection with the Indebtedness. In consideration of the promises herein contained and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Debtor and Secured Party hereby agree as follows:

Related to This Security Agreement

  • UK Security Agreement means, collectively, (i) any Security Agreement, including all sub-parts thereto, among any U.K. Guarantors (and such other Persons as may be party thereto) and the Collateral Agent for the benefit of the Secured Parties, (ii) each pledge agreement, mortgage, security agreement, charge, assignment, guarantee or other agreement that is entered into by any U.K. Guarantor or any Person who is the holder of Equity Interests in any U.K. Guarantor in favor of the Collateral Agent and/or the Revolving Credit Collateral Agent in its capacity as agent for the Secured Parties pursuant to the terms of the Intercreditor Agreement and the other Loan Documents, and (iii) any other pledge agreement, mortgage, security agreement, charge, assignment or other agreement entered into pursuant to the terms of the Loan Documents, in each case of clauses (i), (ii) and (iii), that is governed by the laws of England and Wales, securing the Secured Obligations, and entered into pursuant to the terms of this Agreement or any other Loan Document, as the same may be amended, restated or otherwise modified from time to time.

  • U.S. Security Agreement means that certain U.S. Pledge and Security Agreement, dated as of the date hereof, between the Loan Parties party thereto and the Administrative Collateral Agent, for the benefit of the Administrative Agent, the Collateral Agents and the Lenders, and any other pledge or security agreement entered into, after the date of this Agreement by any other Loan Party (as required by this Agreement or any other Loan Document for the purpose of creating a Lien on the property of any Loan Party organized in the U.S. (or any other property located therein)), or any other Person, as the same may be amended, restated or otherwise modified from time to time.

  • Security Agreement With respect to any Mortgage Loan, any security agreement or equivalent instrument, whether contained in the related Mortgage or executed separately, creating in favor of the holder of such Mortgage a security interest in the personal property constituting security for repayment of such Mortgage Loan.

  • ABL Security Agreement means the Security Agreement (as defined in the ABL Credit Agreement).

  • Guarantor Security Agreement means any security agreement executed by any Guarantor in favor of Agent securing the Obligations or the Guaranty of such Guarantor, in form and substance satisfactory to Agent.

  • Trademark Security Agreement has the meaning specified therefor in the Security Agreement.

  • General Security Agreement means the General Security Agreement dated as of the Closing Date among the Canadian Borrower and its Subsidiaries and the Canadian Agent for the benefit of the Secured Parties thereunder, as amended and in effect from time to time.

  • Copyright Security Agreement has the meaning specified therefor in the Security Agreement.

  • Second Lien Security Agreement means the Pledge and Security Agreement, dated as of the date hereof, by and among Grantors and Second Lien Agent, as collateral agent, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced.

  • Guarantee and Security Agreement means that certain Amended and Restated Guarantee and Security Agreement dated as of July 2, 2013 among the Borrower, the Administrative Agent, each Subsidiary of the Borrower from time to time party thereto, each holder (or a representative or trustee therefor) from time to time of any Secured Longer-Term Indebtedness or Secured Shorter-Term Indebtedness, and the Collateral Agent, as the same shall be modified and supplemented and in effect from time to time.

  • Loan and Security Agreement “thereunder”, “thereof” or similar words referring to the Loan Agreement shall mean and be a reference to this Agreement and (b) each reference in the Financing Agreements to a “Note” or “Revolving Credit Note” shall mean and be a Revolving Credit Note as defined in this Agreement.

  • IP Security Agreement is that certain Intellectual Property Security Agreement executed and delivered by Borrower to Collateral Agent and dated as of the Effective Date, as may be amended, restated, or otherwise modified or supplemented from time to time.

  • Guaranty and Security Agreement means a guaranty and security agreement, dated as of even date with this Agreement, in form and substance reasonably satisfactory to Agent, executed and delivered by each of the Loan Parties to Agent.

  • First Lien Security Agreement means the “Security Agreement” as defined in the First Lien Credit Agreement.

  • Pledge and Security Agreement means the Pledge and Security Agreement to be executed by Company and each Guarantor substantially in the form of Exhibit I, as it may be amended, supplemented or otherwise modified from time to time.

  • Trademark Security Agreements means the Trademark Security Agreements made in favor of Agent, on behalf of Lenders, by each applicable Credit Party.

  • Copyright Security Agreements means the Copyright Security Agreements made in favor of Agent, on behalf of itself and Lenders, by each applicable Credit Party.

  • Canadian Security Agreement means that certain Canadian Pledge and Security Agreement, dated as of the date hereof, between the Loan Parties party thereto and the Administrative Collateral Agent, for the benefit of the Administrative Collateral Agent and the Lenders, and any other pledge or security agreement entered into, after the date of this Agreement by any other Loan Party (as required by this Agreement or any other Loan Document for the purpose of creating a Lien on the property of any Loan Party organized in Canada (or any other property located therein)), or any other Person, as the same may be amended, restated or otherwise modified from time to time.

  • Guarantee and Collateral Agreement the Guarantee and Collateral Agreement to be executed and delivered by the Borrower and each Subsidiary Guarantor, substantially in the form of Exhibit A, as the same may be amended, supplemented or otherwise modified from time to time.

  • Security Agreements means the U.S. Security Agreement and the Canadian Security Agreement.

  • Borrower Security Agreement the Amended and Restated Security Agreement made by the Borrower in favor of the Administrative Agent for the benefit of the Lenders, substantially in the form of Exhibit D hereto, as the same may be amended, supplemented or otherwise modified from time to time.

  • Existing Security Agreement is defined in the second recital.

  • Patent Security Agreement means an agreement substantially in the form of Exhibit 5 hereto.

  • Security and Pledge Agreement shall have the meaning set forth in Section 4.01(c).

  • Company Security Agreement means the Company Security Agreement executed and delivered by the Company on the Effective Date, substantially in the form of EXHIBIT 1.1(D) annexed hereto, as such Company Security Agreement may thereafter be amended, supplemented or otherwise modified from time to time.

  • IP Security Agreements means the Trademark Security Agreement, the Patent Security Agreement and the Copyright Security Agreement.