Collateral Status Clause Samples

The Collateral Status clause defines the current legal and financial standing of assets pledged as security for an obligation. It typically outlines whether the collateral is free of other claims, properly perfected, and in compliance with the agreement’s requirements. This clause ensures that the collateral remains valid and enforceable, thereby protecting the secured party’s interests and reducing the risk of disputes over asset ownership or priority.
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Collateral Status. The Grantors will promptly notify the Administrative Agent if there is any adverse change in the status of the Collateral that would reasonably be expected to have a Material Adverse Effect or that would materially and adversely affect the ability of any Grantor or the Administrative Agent to dispose of the Collateral or any material portion thereof, or the rights and remedies of the Administrative Agent in relation thereto, including, without limitation, the levy of any legal process against the Collateral or any material portion thereof.
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Collateral Status. The Borrowers and Guarantors will promptly notify the Agent if there is any adverse change in the status of the Collateral that materially impairs its value or collectibility, or if any defenses, set-offs or counterclaims are asserted by Account Debtors which in the aggregate materially impair the value or collectibility of the Accounts.
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Collateral Status. Coll Gross Advance Net Values Collateral % Collateral --------------------------------- ------------------------------ 1. Previous assigned A/R balance: $ _____________ (previous CMR line 4) Date: __/__/__ 2. Additions to A/R (2A+B): $ ___________________________________________ A. New ▇▇▇▇▇▇▇▇ $ B. Adjustments $ 3. Deductions from A/R (3A+B+C): ($ _____)_____________________ A. Cash Receipts $ B. Credits $ C. Adjustments $ 4. New Assigned A/R balance (1+2-3): $ 5. A/R Aging Report (Date: __/__/__) $ * * New Assigned A/R Balance and A/R Aging Report (Lines 4 and 5) must equal each other* * ================================================================================================================== 6. Less Adjustments: $ A. Unapplied Cash $ B. Other $ 7. Adj. assigned A/R balance (4-6): $ 8. Less Ineligible A/R: $ A. A/R Over 90 Days $ B. 50% Rule $ C. Contra Accts (A/P Offset) $ D. Other $ E. __________________ $ F. __________________ $ G. __________________ $ H. __________________ $ I. Securitization A/R $ 9. Total A/R Eligible Collateral: $_______________%______$ (Line 7 - Line 8 X Advance Rate) 10. Other A/R Collateral A. __________________ $_______________%______$ B. __________________ $_______________%______$ 11. Inventory Collateral $_______________%______$ A. IBM Credit Financed Eligible Inventory $_______________%______$ B. __________________ $_______________%______$ C. __________________ $_______________%______$ 12. Other Collateral A. RMA $_______________%______$ B. Price Protection $_______________%______$ C. __________________ $_______________%______$ D. __________________ $_______________%______$ 13. Total Net Eligible Collateral (9+10+11+12) $
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Collateral Status. Total Accounts (as set forth in the attached aged trial balance) $_____________
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Collateral Status. The Grantors will promptly notify the Bank if there is any adverse change in the status of the Collateral that materially impairs its value or collectibility, or if any defenses, set-offs or counterclaims are asserted by Account Debtors which in the aggregate materially impair the value or collectibility of the Accounts.
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Collateral Status. The Alico Stock is freely tradable, without restrictions or registration, on a public exchange or quotation system (NASDAQ) and no further action is required to trade the Alico Stock.
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Collateral Status. The Borrower, the Guarantors and the other Loan Parties will promptly notify the Bank if there is any adverse change in the status of the Collateral that materially impairs its value or collectibility, or if any defenses, set-offs or counterclaims are asserted by Account Debtors which in the aggregate materially impair the value or collectibility of the Accounts.
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Related to Collateral Status

  • Collateral Reports Borrower shall deliver or cause to be delivered the following:

  • Complete Mortgage File With respect to each Mortgage Loan, to the extent that the failure to deliver the same would constitute a “Material Document Defect” in the Pooling and Servicing Agreement and/or Mortgage Loan Purchase Agreement, (i) a copy of the Mortgage File for each Mortgage Loan and (ii) originals or copies of all financial statements, appraisals, environmental reports, engineering reports, seismic assessment reports, leases, rent rolls, Insurance Policies and certificates, legal opinions and tenant estoppels in the possession or under the control of such Mortgage Loan Seller that relate to such Mortgage Loan, will be or have been delivered to the Master Servicer with respect to each Mortgage Loan by the deadlines set forth in the Pooling and Servicing Agreement and/or Mortgage Loan Purchase Agreement. For the avoidance of doubt, the Mortgage Loan Seller shall not be required to deliver any attorney-client privileged communication, draft documents or any documents or materials prepared by it or its Affiliates for internal uses, including without limitation, credit committee briefs or memoranda and other internal approval documents.

  • Financial Statements; Servicing Facility In connection with marketing the Mortgage Loans, the Purchaser may make available to a prospective Purchaser a Consolidated Statement of Operations of the Company for the most recently completed two fiscal years for which such a statement is available, as well as a Consolidated Statement of Condition at the end of the last two fiscal years covered by such Consolidated Statement of Operations. The Company also shall make available any comparable interim statements to the extent any such statements have been prepared by or on behalf of the Company (and are available upon request to members or stockholders of the Company or to the public at large). The Company also shall make available to Purchaser or prospective Purchaser a knowledgeable financial or accounting officer for the purpose of answering questions respecting recent developments affecting the Company or the financial statements of the Company, and to permit any prospective Purchaser to inspect the Company's servicing facilities for the purpose of satisfying such prospective Purchaser that the Company has the ability to service the Mortgage Loans as provided in this Agreement.

  • Collateral; Security Interest (a) Pursuant to the Custodial Agreement, the Custodian shall hold the Mortgage Loan Documents and the Pledged Securities as exclusive bailee, agent and securities intermediary, within the meaning of Article 8 of the Uniform Commercial Code, for the benefit of Agent on behalf of Lender pursuant to terms of the Custodial Agreement and shall deliver Trust Receipts (as defined in the Custodial Agreement) to Agent each to the effect, inter alia, that it has reviewed such Mortgage Loan Documents in the manner and to the extent required by the Custodial Agreement and identifying any deficiencies in such Mortgage Loan Documents as so reviewed. (b) All of Borrower's right, title and interest in, to and under each of the following items of property, whether now owned or hereafter acquired, now existing or hereafter created and wherever located, is hereinafter referred to as the "COLLATERAL": (i) all Mortgage Loans; (ii) all Mortgage Loan Documents, including, without limitation, all promissory notes and all Servicing Records, Servicing Agreements and any other collateral pledged or otherwise relating to such Mortgage Loans, together with all files, documents, instruments, surveys, certificates, correspondence, appraisals, computer programs (subject to any restrictions on transfer under any related licensing agreement), computer storage media, accounting records and other books and records relating thereto, including electronic records; (iii) all mortgage guaranties and insurance (issued by governmental agencies or otherwise) and any mortgage insurance certificate or other document evidencing such mortgage guaranties or insurance relating to any Mortgage Loan and all claims and payments thereunder; (iv) all other insurance policies and insurance proceeds relating to any Mortgage Loan or the related Mortgaged Property; (v) all Interest Rate Protection Agreements, relating to or constituting any and all of the foregoing; (vi) all Cash Collateral; (vii) all Pledged Securities;

  • No Material Deviation in Financial Statements All consolidated financial statements for Borrower and any of its Subsidiaries delivered to Bank fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s consolidated financial condition since the date of the most recent financial statements submitted to Bank.