Delivery of Additional Documentation Required. Borrower shall from time to time execute and deliver to Bank, at the request of Bank, all Negotiable Collateral, all Financing Statements and other documents and records that Bank may request, in form and substance satisfactory to Bank and its counsel, to perfect and continue perfected Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in Bank’s discretion to preserve, protect and perfect Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created thereby. In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank and other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they shall be resolved in favor of Bank for the purpose of achieving the full realization of Bank’s rights and remedies thereunder and the Liens as aforesaid.
Appears in 4 contracts
Sources: Loan and Security Agreement (Unilens Vision Inc), Loan and Security Agreement (Adam Inc), Loan and Security Agreement (Cea Acquisition Corp)
Delivery of Additional Documentation Required. (a) To the extent that such documentation is physically available to Borrower; Borrower shall from time to time execute and deliver to any Bank, at the request of such Bank, all Negotiable Collateral, all Financing Statements and other documents and records that such Bank may request, in form and substance satisfactory to such Bank and its counsel, to perfect and continue perfected such Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by any Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in such Bank’s discretion to preserve, protect and perfect such Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to any Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created thereby, but shall be subject at all times to the Intercreditor Agreement. In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank the Banks and other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that each Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they shall be resolved in favor of Bank the Banks for the purpose of achieving the full realization of Bank’s the Banks’ collective rights and remedies thereunder and the Liens as aforesaid.
(b) Borrower shall take reasonable steps to provide that computer or other records representing or evidencing an Account contain (by way of stamp, legend or other method satisfactory to the Banks) the following language: “Pledged to Bank of America, Wachovia Bank and RBC Centura Bank as Collateral” or such other language as the Banks may from time to time require. After an Event of Default, if requested by any Bank, all contracts, documents, instruments and chattel paper evidencing an Account shall contain (by way of stamp, legend or other method satisfactory to such Bank) the above quoted language. Failure to deliver physical possession of any instruments, documents, or writings in respect of any Account to any Bank, or all of them, shall not invalidate any such Bank’s security interest therein. To the extent that possession may be required by applicable law for perfection of a Bank’s security interest, the original chattel paper and instruments representing the Accounts (to the extent available) shall be deemed to be held by such Bank, although kept by Borrower or Guarantor as the custodial agent of such Bank(s). Borrower or Guarantor (as the case may be) shall, at any reasonable time and at Borrower’s or Guarantor’s own expense, upon any Bank’s reasonable request, physically deliver to such Bank on computer disk or other electronic data storage means which shall be machine readable in Microsoft Access or such other form as mutually agreed upon by the parties hereto, copies of all Accounts (including any instruments, documents or writings in respect of any Account together with all other instruments, documents or writings in respect of any collateral securing each Account, then in Borrower’s or Guarantor’s control) assigned to a Bank to any reasonable place or places designated by such Bank. All Accounts shall, regardless of their location, be deemed to be under the Banks’ dominion and control (with both paper and computer files so labeled) and deemed to be in the Bank or Banks’, as applicable, possession.).
(c) A copy of any notice or request by any Bank pursuant to this Section 4.2, and any response or information provided by Borrower to any Bank pursuant to this Section 4.2, shall be delivered to all other Banks simultaneously.
Appears in 2 contracts
Sources: Loan and Security Agreement (Portfolio Recovery Associates Inc), Loan and Security Agreement (Portfolio Recovery Associates Inc)
Delivery of Additional Documentation Required. To the extent that such documentation is physically available to Borrower; Borrower shall from time to time execute and deliver to Bank, at the request of Bank, all Negotiable Collateral, all Financing Statements and other documents and records that Bank may request, in form and substance satisfactory to Bank and its counsel, to perfect and continue perfected Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in Bank’s discretion to preserve, protect and perfect Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created thereby. In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank and other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they shall be resolved in favor of Bank for the purpose of achieving the full realization of Bank’s rights and remedies thereunder and the Liens as aforesaid.
(a) All computer records representing or evidencing an Account shall contain (by way of stamp or other method satisfactory to Bank) the following language: “Pledged to RBC Centura Bank as Collateral”. Upon an Event of Default, if requested by Bank, all contracts, documents, instruments and chattel paper evidencing an Account shall contain (by way of stamp or other method satisfactory to Bank) the above quoted language. Failure to deliver physical possession of any instruments, documents, or writings in respect of any Account to Bank shall not invalidate Bank’s security interest therein. To the extent that possession may be required by applicable law for perfection of Bank’s security interest, the original chattel paper and instruments representing the Accounts shall be deemed to be held by Bank, although kept by Borrower or Guarantor as the custodial agent of Bank. Borrower or Guarantor (as case may be) shall, at any reasonable time and at Borrower’s or Guarantor’s own expense, upon Bank’s reasonable request, be physically delivered to Bank on computer disk or other electronic data storage means which shall be machine readable in Microsoft Access or such other form as mutually agreed upon by the parties hereto, copies of all Accounts (including any instruments, documents or writings in respect of any Account together with all other instruments, documents or writings in respect of any collateral securing each Account, then in Borrower’s or Guarantor’s control) assigned to Bank to any reasonable place or places designated by Bank. All Accounts shall, regardless of their location, be deemed to be under Bank’s dominion and control (with both paper and computer files so labeled) and deemed to be in Bank’s possession.)
Appears in 2 contracts
Sources: Loan and Security Agreement (Portfolio Recovery Associates Inc), Loan and Security Agreement (Portfolio Recovery Associates Inc)
Delivery of Additional Documentation Required. Borrower shall from time to time execute and deliver to Bank, at the request of Bank, all Negotiable Collateral, all Financing Statements and other documents and records that Bank may request, in form and substance satisfactory to Bank and its counsel, to perfect and continue perfected Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in Bank’s discretion to preserve, protect and perfect Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created therebythereby (except to the extent any such prior agreements are amended and/or restated by this Agreement). In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank and other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they the terms and conditions of this Agreement shall be resolved in favor of Bank for the purpose of achieving the full realization of Bank’s rights and remedies thereunder and the Liens as aforesaidprevail.
Appears in 1 contract
Sources: Loan and Security Agreement (Computer Software Innovations Inc)
Delivery of Additional Documentation Required. (a) To the extent that such documentation is physically available to Borrower; Borrower shall from time to time execute and deliver to any Bank, at the request of such Bank, all Negotiable Collateral, all Financing Statements and other documents and records that such Bank may request, in form and substance satisfactory to such Bank and its counsel, to perfect and continue perfected such Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by any Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in such Bank’s discretion to preserve, protect and perfect such Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to any Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created thereby, but shall be subject at all times to the Intercreditor Agreement. In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank the Banks and other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that each Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they shall be resolved in favor of Bank the Banks for the purpose of achieving the full realization of Bank’s the Banks’ collective rights and remedies thereunder and the Liens as aforesaid.
(b) Borrower shall take reasonable steps to provide that computer or other records representing or evidencing an Account contain (by way of stamp, legend or other method satisfactory to the Banks) the following language: “Pledged to Bank of America, N.A., Wachovia Bank, National Association, RBC Bank (USA), SunTrust Bank and JPMorgan Chase Bank, N.A. as Collateral” or such other language as the Banks may from time to time require. After an Event of Default, if requested by any Bank, all contracts, documents, instruments and chattel paper evidencing an Account shall contain (by way of stamp, legend or other method satisfactory to such Bank) the above quoted language. Failure to deliver physical possession of any instruments, documents, or writings in respect of any Account to any Bank, or all of them, shall not invalidate any such Bank’s security interest therein. To the extent that possession may be required by applicable law for perfection of a Bank’s security interest, the original chattel paper and instruments representing the Accounts (to the extent available) shall be deemed to be held by such Bank, although kept by Borrower or Guarantor as the custodial agent of such Bank(s). Borrower or Guarantor (as the case may be) shall, at any reasonable time and at Borrower’s or Guarantor’s own expense, upon any Bank’s reasonable request, physically deliver to such Bank on computer disk or other electronic data storage means which shall be machine readable in Microsoft Access or such other form as mutually agreed upon by the parties hereto, copies of all Accounts (including any instruments, documents or writings in respect of any Account together with all other instruments, documents or writings in respect of any collateral securing each Account, then in Borrower’s or Guarantor’s control) assigned to a Bank to any reasonable place or places designated by such Bank. All Accounts shall, regardless of their location, be deemed to be under the Banks’ dominion and control (with both paper and computer files so labeled) and deemed to be in the Bank or Banks’, as applicable, possession.).
(c) A copy of any notice or request by any Bank pursuant to this Section 4.2, and any response or information provided by Borrower to any Bank pursuant to this Section 4.2, shall be delivered to all other Banks simultaneously.
Appears in 1 contract
Sources: Loan and Security Agreement (Portfolio Recovery Associates Inc)
Delivery of Additional Documentation Required. (a) To the extent that such documentation is physically available to Borrower; Borrower shall from time to time execute and deliver to any Bank, at the request of such Bank, all Negotiable Collateral, all Financing Statements and other documents and records that such Bank may request, in form and substance satisfactory to such Bank and its counsel, to perfect and continue perfected such Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by any Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in such Bank’s discretion to preserve, protect and perfect such Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to any Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created thereby, but shall be subject at all times to the Intercreditor Agreement. In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank the Banks and other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that each Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they shall be resolved in favor of Bank the Banks for the purpose of achieving the full realization of Bank’s the Banks’ collective rights and remedies thereunder and the Liens as aforesaid.
(b) Borrower shall take reasonable steps to provide that computer or other records representing or evidencing an Account contain (by way of stamp, legend or other method satisfactory to the Banks) the following language: “Pledged to Bank of America and Wachovia Bank as Collateral” or such other language as the Banks may from time to time require. After an Event of Default, if requested by any Bank, all contracts, documents, instruments and chattel paper evidencing an Account shall contain (by way of stamp, legend or other method satisfactory to such Bank) the above quoted language. Failure to deliver physical possession of any instruments, documents, or writings in respect of any Account to any Bank, or all of them, shall not invalidate any such Bank’s security interest therein. To the extent that possession may be required by applicable law for perfection of a Bank’s security interest, the original chattel paper and instruments representing the Accounts (to the extent available) shall be deemed to be held by such Bank, although kept by Borrower or Guarantor as the custodial agent of such Bank(s). Borrower or Guarantor (as the case may be) shall, at any reasonable time and at Borrower’s or Guarantor’s own expense, upon any Bank’s reasonable request, physically deliver to such Bank on computer disk or other electronic data storage means which shall be machine readable in Microsoft Access or such other form as mutually agreed upon by the parties hereto, copies of all Accounts (including any instruments, documents or writings in respect of any Account together with all other instruments, documents or writings in respect of any collateral securing each Account, then in Borrower’s or Guarantor’s control) assigned to a Bank to any reasonable place or places designated by such Bank. All Accounts shall, regardless of their location, be deemed to be under the Banks’ dominion and control (with both paper and computer files so labeled) and deemed to be in the Bank or Banks’, as applicable, possession.).
(c) A copy of any notice or request by any Bank pursuant to this Section 4.2, and any response or information provided by Borrower to any Bank pursuant to this Section 4.2, shall be delivered to all other Banks simultaneously.
Appears in 1 contract
Sources: Loan and Security Agreement (Portfolio Recovery Associates Inc)
Delivery of Additional Documentation Required. (a) To the extent that such documentation is physically available to Borrower; Borrower shall from time to time execute and deliver to any Bank, at the request of such Bank, all Negotiable Collateral, all Financing Statements and other documents and records that such Bank may request, in form and substance satisfactory to such Bank and its counsel, to perfect and continue perfected such Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by any Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in such Bank’s discretion to preserve, protect and perfect such Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to any Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created thereby, but shall be subject at all times to the Intercreditor Agreement. In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank the Banks and other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that each Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they shall be resolved in favor of Bank the Banks for the purpose of achieving the full realization of Bank’s the Banks’ collective rights and remedies thereunder and the Liens as aforesaid.
(b) Borrower shall take reasonable steps to provide that computer or other records representing or evidencing an Account contain (by way of stamp, legend or other method satisfactory to the Banks) the following language: “Pledged to Bank of America, Wachovia Bank, RBC Bank (USA) and SunTrust Bank as Collateral” or such other language as the Banks may from time to time require. After an Event of Default, if requested by any Bank, all contracts, documents, instruments and chattel paper evidencing an Account shall contain (by way of stamp, legend or other method satisfactory to such Bank) the above quoted language. Failure to deliver physical possession of any instruments, documents, or writings in respect of any Account to any Bank, or all of them, shall not invalidate any such Bank’s security interest therein. To the extent that possession may be required by applicable law for perfection of a Bank’s security interest, the original chattel paper and instruments representing the Accounts (to the extent available) shall be deemed to be held by such Bank, although kept by Borrower or Guarantor as the custodial agent of such Bank(s). Borrower or Guarantor (as the case may be) shall, at any reasonable time and at Borrower’s or Guarantor’s own expense, upon any Bank’s reasonable request, physically deliver to such Bank on computer disk or other electronic data storage means which shall be machine readable in Microsoft Access or such other form as mutually agreed upon by the parties hereto, copies of all Accounts (including any instruments, documents or writings in respect of any Account together with all other instruments, documents or writings in respect of any collateral securing each Account, then in Borrower’s or Guarantor’s control) assigned to a Bank to any reasonable place or places designated by such Bank. All Accounts shall, regardless of their location, be deemed to be under the Banks’ dominion and control (with both paper and computer files so labeled) and deemed to be in the Bank or Banks’, as applicable, possession.).
(c) A copy of any notice or request by any Bank pursuant to this Section 4.2, and any response or information provided by Borrower to any Bank pursuant to this Section 4.2, shall be delivered to all other Banks simultaneously.
Appears in 1 contract
Sources: Loan and Security Agreement (Portfolio Recovery Associates Inc)
Delivery of Additional Documentation Required. Borrower shall from time to time execute and deliver to Bank, at the request of Bank, all Negotiable Collateral, all Financing Statements Collateral and other documents and records that Bank may request, in form and substance satisfactory to Bank and its counsel, to perfect and continue perfected Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in Bank’s discretion to preserve, protect and perfect Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created thereby. In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank and other persons Persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they shall be resolved in favor of Bank for the purpose of achieving the full realization of Bank’s rights and remedies thereunder and the Liens as aforesaid. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, Bank agrees that (a) as of the Closing Date, the only landlord consents, landlord waivers, landlord subordination agreements, or other similar documents relating to the relative rights of landlords, lessors or sublessors under any lease or sublease agreements to which Borrower or any Subsidiary is a party (collectively, “Landlord Waivers”) that shall be required in connection with the Loan Documents are with respect to the leased properties located at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇; and (b) after the Closing Date, no Landlord Waiver shall be required with respect to any leased property where less than $500,000.00 book value of Inventory and Equipment is stored or located; provided, however, that if Borrower and its Subsidiaries are unable in the exercise of their commercially reasonable efforts to obtain any Landlord Waiver requested by Bank pursuant to clause (b) of this Section 4.2, then Bank may, at the option of Borrower and in lieu of such Landlord Waiver, establish a reserve against the Committed Revolving Line in an amount not to exceed the aggregate amount of current monthly rental payments under the applicable lease or sublease agreement multiplied by two (2); provided further, that upon any such election by Borrower to permit Bank to establish such a reserve against the Committed Revolving Line, Borrower and its Subsidiaries shall have no further obligation under the Loan Documents to obtain or deliver such Landlord Waiver (regardless of whether or not Bank actually establishes such reserve).
Appears in 1 contract
Sources: Loan and Security Agreement (API Technologies Corp.)
Delivery of Additional Documentation Required. Borrower shall from time to time execute and deliver to Bank, at the request of Bank, all Negotiable Collateral, all Financing Statements and other documents and records that Bank may request, in form and substance satisfactory to Bank and its counsel, to perfect and continue perfected Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in Bank’s discretion to preserve, protect and perfect Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created therebythereby (except to the extent any such prior agreements are amended and restated by this Agreement). In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank and other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and records, they the terms and conditions of this Agreement shall be resolved in favor of Bank for the purpose of achieving the full realization of Bank’s rights and remedies thereunder and the Liens as aforesaidprevail.
Appears in 1 contract
Sources: Loan and Security Agreement (Computer Software Innovations Inc)
Delivery of Additional Documentation Required. Borrower shall from time to time execute and deliver to Bank, at the request of Bank, all Negotiable Collateral, all Financing Statements and other documents and records that Bank may request, in form and substance reasonably satisfactory to Bank and its counsel, to perfect and continue perfected Bank’s security interests in the Collateral and in order to fully consummate all of the transactions contemplated under the Loan Documents. Borrower hereby consents to the filing by Bank of Financing Statements and such other instruments and documents in any jurisdictions or locations deemed advisable or necessary in Bank’s discretion to preserve, protect and perfect Bank’s security interest and rights in the Collateral. Borrower further consents to and ratifies the filing of such Financing Statements and other instruments and documents prior to the Closing Date. If Borrower has executed and delivered to Bank a separate security agreement or agreements in connection with any or all of the Obligations, that security agreement or those security agreements and the security interests created therein shall be in addition to and not in substitution of this Agreement and the security interests created hereby, and this Agreement shall be in addition to and not in substitution of the other security agreement or agreements and the security interests created thereby. In all cases this Agreement and the aforesaid security agreement or agreements, as well as all other evidences or records of any and all of the Obligations and agreements of Borrower, Bank and and/or other persons who may be obligated on any of the Obligations, shall be applied and enforced in harmony with and in conjunction with each other to the end that Bank realizes fully upon its rights and remedies in each and the Liens created by each; and, to the extent conflicts exist between this Agreement and the other security agreements and and/or records, they shall be resolved in favor of Bank for the purpose of achieving the full realization of Bank’s rights and remedies thereunder and the Liens as aforesaid.
Appears in 1 contract
Sources: Loan and Security Agreement (Salix Pharmaceuticals LTD)