Debt Secured Clause Samples

Debt Secured. All collateral and property assigned, mortgaged, pledged or otherwise granted under or in connection with this Credit Agreement shall secure: (i) the payment of all principal of and interest owing or outstanding on any of the Revolving Note or the Revolving Loan, including, without limitation, future advances made by the Bank which are or may be evidenced by said Revolving Note, regardless of whether the Bank was obligated to make such advances; (ii) the payment of all amounts from time to time owing to the Bank under or in connection with this Credit Agreement or any of the Collateral Security Documents; (iii) the payment by the Borrowers of all reasonable costs and expenses (including attorneys' fees) incurred by the Bank in the collection of the Revolving Loan or any of the Revolving Note or in the enforcement of its rights under this Credit Agreement or the other Loan Documents; (iv) the payment by the Borrowers of all sums expended or advanced by the Bank pursuant to the terms of this Credit Agreement, any Collateral Security Document or any other Loan Document; (v) the performance by the Borrowers of all their obligations under this Credit Agreement, the Revolving Note, the Collateral Security Documents and the other Loan Documents; (vi) the performance by the Guarantor of all its obligations under the Guaranty; and (vii) the payment of any and all other indebtedness (including principal, interest or fees, if any) of any kind or description now or hereafter owing by the Borrowers to the Bank, including, without limitation, overdrafts, amounts owing under other notes, bonds, debentures, letters of credit, interest rate protection arrangements or other evidences of indebtedness and contingent obligations. All of the debt, liabilities and obligations described in clauses (i) through (vii) above shall be sometimes hereinafter referred to as the "Obligations."

Debt Secured. This Assignment is given for the purpose of securing: (a) Payment of the indebtedness evidenced by the Assignor's Note, including any renewals or extensions thereof. (b) Payment of all other sums with interest thereon becoming due and payable to the Bank under the provisions hereof. (c) Performance and discharge of all obligations, covenants and agreements of the Assignor herein and in the Assignor's Note.

Debt Secured. The security interest conveyed hereunder shall secure all obligations and indebtedness of Debtor to Secured Party of every kind and nature under and pursuant to the Note.

Debt Secured. Payment of the Indebtedness evidenced by the following instruments, including any amendments, extensions or renewals thereof in the aggregate sum of the consideration expressed above with interest, and the performance and observance of each term thereof by the parties obligated thereon and any guarantor thereof (singularly and collectively "Obligor"): (i) Promissory Note $720,00.00 OIOPT Acquisition Corp. -------------------- ----------- ------------- ------------------------- Instrument Amount Date Obligor Educational Medical, Inc. ------------------------- ------------------------ --------------------- Guarantor Obligor Obligor

Debt Secured. Paragraph 2 of the Security Agreement shall be amended to read as follows:

Debt Secured. 20 Section 3.03 COLLATERAL............................................................................21

Debt Secured. Payment of the Indebtedness evidenced by the following instruments, including any amendments, extensions or renewals thereof in the aggregate sum of the consideration expressed above with interest, and the performance and observance of each term thereof by the parties obligated thereon and any guarantor thereof (singularly and collectively "Obligor"): Promissory Note $540,000 April 30, 1996 North Coast Energy, Inc. (i) ------------------- ------------------- --------------------- -------------------------------------- Instrument Amount Date Obligor ------------------------------- -------------------------------- -------------------------------------- Obligor Obligor Oblgor (ii) $ ------------------- ------------------- --------------------- -------------------------------------- Instrument Amount Date Obligor ------------------------------- -------------------------------- -------------------------------------- Obligor Obligor Oblgor (iii) $ ------------------- ------------------- --------------------- -------------------------------------- Instrument Amount Date Obligor ------------------------------- -------------------------------- -------------------------------------- Obligor Obligor Oblgor

Debt Secured. Pledgor has borrowed from the Secured Party the sum of Six Hundred Thousand ($600,000) Dollars, in accordance with the terms and conditions of a Second Amendment to Promissory Note dated as of the date hereof (the "Note"), a copy of which is attached hereto as Exhibit "B". The Collateral herein described shall secure the obligation set forth in the Note."

Debt Secured. 16- Section 3.03 Collateral . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -17- Section 3.04 Collateral Disclosure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . -17- Section 3.05