Creation of a Security Interest Clause Samples

The 'Creation of a Security Interest' clause establishes the legal right of a lender or creditor to claim specific assets of a borrower as collateral for a loan or obligation. This clause typically outlines the types of assets subject to the security interest, the process by which the interest is granted, and any necessary steps for perfection, such as registration or notification to third parties. Its core function is to protect the lender by providing a legal mechanism to recover value from the collateral if the borrower defaults, thereby reducing the lender's risk and clarifying the parties' rights regarding the secured assets.
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Creation of a Security Interest. The Grantor hereby grants and conveys to the Beneficiary as security for the Indebtedness a security interest (a) in the Equipment, including, without limitation, any and all property of a similar type or kind hereafter located on or at the Property and owned by the Grantor, and (b) in any and all intangible property of the Grantor now or hereafter used in, arising out of, or relating to the ownership, development, management, operation or use of the Property, including, without limitation, (1) documents, instruments, accounts, chattel paper, general intangibles and proceeds (as each of such terms is defined in the UCC), (2) architectural and engineering plans and specifications for the Property or any portion thereof, (3) escrow accounts, insurance policies and business records of or with respect to the Property, (4) any and all of the Grantor's rights, if any to (i) all warranties and guarantees by manufacturers, suppliers and installers pertaining to any of the Improvements or the Equipment, for the purpose of securing all of the indebtedness.
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Creation of a Security Interest. As security for payment of the ------------------------------- Indebtedness (as defined below) of Debtor to the Secured Parties when and as due, Debtor hereby grants the Secured Parties a security interest in the collateral described in Section 2 below (the "Collateral"). For purposes of this Agreement, "Indebtedness" shall mean all obligations and liabilities of Debtor to Secured Parties under this Agreement, the Purchase Agreement and the Notes, including any extensions, modifications or renewals thereof. The security interest granted hereby (the "Security Interest") shall be and remain a ----------------- first and prior security interest in all of the Collateral.
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Creation of a Security Interest. As security for payment of the Note and any and all other sums (whether principal, interest, fees or otherwise) which are now or at any time may become payable by the Borrower under any financial agreement with the Lender to which it is a party (the "RELEVANT INDEBTEDNESS"), the Company hereby grants the Lender a security interest in the Collateral (defined below). To perfect the security interest created hereby, in addition to the other obligations of the Company hereunder, the Company shall execute and deliver to the Lender any and all documents deemed necessary by the Lender for such perfection. Upon termination of this Deed (defined in Section 8 below) and the security interest described herein, the Lender shall execute and deliver to the Company any and all documents deemed necessary by the Company for the termination of such security interest.
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Creation of a Security Interest. As security for payment of the Indebtedness (as defined below) of Debtor to Secured Party when and as due, Debtor hereby grants Secured Party a security interest in the collateral described in Section 2 below (the "COLLATERAL"). For purposes of this Agreement, "INDEBTEDNESS" shall mean the Equity Payout, the Deferred Payments and all obligations and liabilities of Debtor to Secured Party under this Agreement and the Note in the amount of $11,000,000, including any extensions, modifications or renewals thereof. The security interest granted hereby shall be and remain a first and prior security interest in all of the Collateral.
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Creation of a Security Interest. This Mortgage shall be self-operative and shall constitute a security agreement pursuant to the provisions of the New Mexico UCC with respect to the Collateral that constitutes personal property under the New Mexico UCC. Upon Default, the Mortgagee shall have the rights and remedies of a secured party under the New Mexico UCC as well as all other rights and remedies available under this Mortgage and at law or in equity, and, at the Mortgagee’s option, the Mortgagee may also invoke the remedies provided elsewhere in this Mortgage as to such Collateral. The Mortgagor and the Mortgagee agree that the rights granted to the Mortgagee as secured party under this Article 5 are in addition to rather than a limitation on any of the Mortgagee’s other rights under this Mortgage with respect to the Collateral.
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Creation of a Security Interest. As security for payment of the Note to Investor when due, the Company hereby grants to Investor a security interest in the collateral described in paragraph 2 below (the “Collateral”). To perfect the security interest created hereby, the Company shall execute and deliver to Investor any and all documents reasonably requested for such perfection by Investor.
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Creation of a Security Interest. As security for the payment of all amounts due under this agreement, the Note, or any other agreement or instrument executed in connection therewith, Debtor hereby grants to the Lender an undivided security interest in the Collateral.
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Creation of a Security Interest 
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Related to Creation of a Security Interest

  • Grant of a Security Interest It is the express intent of the parties hereto that the conveyance of the Mortgage Loans by the Seller to the Purchaser as provided in Section 2 hereof be, and be construed as, a sale of the Mortgage Loans by the Seller to the Purchaser and not as a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller. However, if, notwithstanding the aforementioned intent of the parties, the Mortgage Loans are held to be property of the Seller, then, (a) it is the express intent of the parties that such conveyance be deemed a pledge of the Mortgage Loans by the Seller to the Purchaser to secure a debt or other obligation of the Seller, and (b) (i) this Agreement shall also be deemed to be a security agreement within the meaning of Article 9 of the Uniform Commercial Code of the applicable jurisdiction; (ii) the conveyance provided for in Section 2 hereof shall be deemed to be a grant by the Seller to the Purchaser of a security interest in all of the Seller's right, title and interest in and to the Mortgage Loans, and all amounts payable to the holder of the Mortgage Loans in accordance with the terms thereof, and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, including, without limitation, all amounts, other than investment earnings, from time to time held or invested in the Certificate Account, the Distribution Account or, if established, the REO Account (each as defined in the Pooling and Servicing Agreement) whether in the form of cash, instruments, securities or other property; (iii) the assignment to the Trustee of the interest of the Purchaser as contemplated by Section 1 hereof shall be deemed to be an assignment of any security interest created hereunder; (iv) the possession by the Trustee or any of its agents, including, without limitation, the Custodian, of the Mortgage Notes, and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be possession by the secured party for purposes of perfecting the security interest pursuant to Section 9-313 of the Uniform Commercial Code of the applicable jurisdiction; and (v) notifications to persons (other than the Trustee) holding such property, and acknowledgments, receipts or confirmations from persons (other than the Trustee) holding such property, shall be deemed notifications to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the secured party for the purpose of perfecting such security interest under applicable law. The Seller and the Purchaser shall, to the extent consistent with this Agreement, take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement and the Pooling and Servicing Agreement.

  • Creation of Security Interest Notwithstanding any other provision set forth in this Agreement, the Note, the Mortgage or any of the other Loan Documents, Lender may at any time create a security interest in all or any portion of its rights under this Agreement, the Note, the Mortgage and any other Loan Document (including the advances owing to it) in favor of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System.

  • Valid Security Interest This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Sold Property in favor of the Issuer, which is prior to all other Liens, other than Permitted Liens, and is enforceable against creditors of and purchasers from the Depositor.

  • Pledge; Grant of Security Interest As collateral security for the payment and performance in full of all the Secured Obligations, each Grantor hereby pledges and grants to the Collateral Agent for its benefit and for the benefit of the other Credit Parties, a lien on and security interest in and to all of the right, title and interest of such Grantor in, to and under all of such Grantor’s personal property and interests in such personal property, wherever located, and whether now existing or hereafter arising or acquired from time to time (collectively, the “Collateral”), including, without limitation: (a) all Accounts; (b) all Goods, including Equipment, Inventory and Fixtures; (c) all Documents, Instruments and Chattel Paper; (d) all Letters of Credit and Letter-of-Credit Rights; (e) all Securities Collateral; (f) all Investment Property; (g) all Intellectual Property Collateral; (h) all Commercial Tort Claims, including, without limitation, those described in Section IV of the Perfection Certificate; (i) all General Intangibles; (j) all Deposit Accounts; (k) all Supporting Obligations; (l) all books and records relating to the Collateral; and (m) to the extent not covered by clauses (a) through (l) of this sentence, all other personal property of such Grantor, whether tangible or intangible and all Proceeds and products of each of the foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing, any and all proceeds of any insurance, indemnity, warranty or guaranty payable to such Grantor from time to time with respect to any of the foregoing. Notwithstanding anything to the contrary contained in clauses (a) through (m) above, the security interest created by this Security Agreement shall not extend to, and the term “Collateral” shall not include, any Excluded Property and the Grantors shall from time to time at the request of the Collateral Agent give written notice to the Collateral Agent identifying in reasonable detail the Excluded Property and shall provide to the Collateral Agent such other information regarding the Excluded Property as the Collateral Agent may reasonably request.

  • Perfection of Security Interest Each Borrower shall take all action that may be necessary or desirable, or that Agent may request, so as at all times to maintain the validity, perfection, enforceability and priority of Agent’s security interest in and Lien on the Collateral or to enable Agent to protect, exercise or enforce its rights hereunder and in the Collateral, including, but not limited to, (i) immediately discharging all Liens other than Permitted Encumbrances, (ii) obtaining Lien Waiver Agreements, (iii) delivering to Agent, endorsed or accompanied by such instruments of assignment as Agent may specify, and stamping or marking, in such manner as Agent may specify, any and all chattel paper, instruments, letters of credits and advices thereof and documents evidencing or forming a part of the Collateral, (iv) entering into warehousing, lockbox and other custodial arrangements satisfactory to Agent, and (v) executing and delivering financing statements, control agreements, instruments of pledge, mortgages, notices and assignments, in each case in form and substance satisfactory to Agent, relating to the creation, validity, perfection, maintenance or continuation of Agent’s security interest and Lien under the Uniform Commercial Code or other Applicable Law. By its signature hereto, each Borrower hereby authorizes Agent to file against such Borrower, one or more financing, continuation or amendment statements pursuant to the Uniform Commercial Code in form and substance satisfactory to Agent (which statements may have a description of collateral which is broader than that set forth herein). All charges, expenses and fees Agent may incur in doing any of the foregoing, and any local taxes relating thereto, shall be charged to Borrowers’ Account as a Revolving Advance of a Domestic Rate Loan and added to the Obligations, or, at Agent’s option, shall be paid to Agent for its benefit and for the ratable benefit of Lenders immediately upon demand.