Common use of Statutory Lien Clause in Contracts

Statutory Lien. Xxxxxxxx agrees that all loan advances under this Agreement are secured by all shares and deposits In all joint and individual accounts Borrower has with Xxxxxx now and in the future. Borrower authorizes Xxxxxx, to the extent permitted by applicable law, to apply the balance in these accounts to pay any amounts due under this Agreement when Borrower is in default under this Agreement Shares and deposits in an Individual Retirement Account and any other account that would lose special tax treatment under state or federal law If given as security are not subject to the security interest Borrower has given in Borrower's shares and deposits.

Statutory Lien. Xxxxxxxx Bxxxxxxx agrees that all loan advances under this Agreement are secured by all shares and deposits In in all joint and individual accounts Borrower has with Xxxxxx Lxxxxx now and in the future. Borrower authorizes Xxxxxx, Lender. to the extent permitted by applicable law, to apply the balance in these accounts to pay any amounts due under this Agreement when Borrower is in default under this Agreement Agreement. Shares and deposits in an Individual Retirement Account and any other account that would lose special tax treatment under state or federal law If if given as security are not subject to the security interest Borrower has given in Borrower's shares and deposits.

Statutory Lien. Xxxxxxxx Borrower agrees that all loan advances under this Agreement are secured by all shares and deposits In in all joint and individual accounts Borrower has with Xxxxxx Lender now and in the future. Borrower authorizes XxxxxxLender, to the extent permitted by applicable law, to apply the balance in these accounts to pay any amounts due under this Agreement when Borrower is in default under this Agreement Agreement. Shares and deposits in an Individual Retirement Account and any other account that would lose special tax treatment under state or federal law If if given as security are not subject to the security interest Borrower has given in Borrower's ’s shares and deposits.