Grant of Security Interests Sample Clauses
The Grant of Security Interests clause establishes that a borrower or debtor is providing the lender or secured party with a legal interest in specified collateral as security for a loan or obligation. In practice, this means the borrower pledges certain assets—such as equipment, inventory, or accounts receivable—which the lender can claim if the borrower defaults on their obligations. This clause is essential for protecting the lender’s interests by ensuring they have a legal right to seize and sell the collateral to recover outstanding debts, thereby reducing the lender’s risk.
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Grant of Security Interests. (a) As security for the prompt and complete payment and performance when due of all of the Obligations of such Assignor, each Assignor does hereby assign and transfer unto the Collateral Agent, and does hereby pledge and grant to the Collateral Agent for the benefit of the Secured Creditors, a continuing security interest in, all of the right, title and interest of such Assignor in, to and under all of the following, whether now existing or hereafter from time to time acquired: (i) each and every Receivable, (ii) all Contracts, together with all Contract Rights arising thereunder, (iii) all Inventory, (iv) all Equipment, (v) all Marks, together with the registrations and right to all renewals thereof, and the goodwill of the business of such Assignor symbolized by the Marks, (vi) all Patents and Copyrights, and all reissues, renewals or extensions thereof, (vii) all computer programs of such Assignor and all intellectual property rights therein and all other proprietary information of such Assignor, including, but not limited to, trade secrets, (viii) all other Goods, General Intangibles, Chattel Paper, Documents, Instruments and other assets of such Assignor, (ix) the Cash Collateral Account and all monies, securities and Instruments deposited or required to be deposited in such Cash Collateral Account and (x) all Proceeds and products of any and all of the foregoing (all of the above, collectively, the "Collateral"). Notwithstanding anything to the contrary contained in this Agreement, the term Collateral shall not include any American Supplies as defined in the American Airlines Catering Agreements with Sky Chefs and Caterair (as in effect on the date hereof).
Grant of Security Interests. In addition to the other rights provided in this Section 9.9, each Lender may grant a security interest in, or otherwise assign as collateral, any of its rights under this Agreement, whether now owned or hereafter acquired (including rights to payments of principal or interest on the Loans), to (A) any federal reserve bank (pursuant to Regulation A of the Federal Reserve Board), without notice to Agent or (B) any holder of, or trustee for the benefit of the holders of, such Lender’s Indebtedness or equity securities, by notice to Agent; provided, however, that no such holder or trustee, whether because of such grant or assignment or any foreclosure thereon (unless such foreclosure is made through an assignment in accordance with clause (b) above), shall be entitled to any rights of such Lender hereunder and no such Lender shall be relieved of any of its obligations hereunder.
Grant of Security Interests. To secure the due and punctual payment of all Obligations, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing or due or to become due, whether at maturity or upon acceleration or otherwise, in accordance with the terms thereof and to secure the due and punctual performance of all of the Obligations and in order to induce the Agent and the Lenders to enter into the Revolving Credit Agreement and the other Credit Documents, the Debtor hereby pledges, assigns, delivers, conveys and transfers to the Agent, for the ratable benefit of the Lenders, and grants to the Agent, for the ratable benefit of the Lenders, a first priority and continuing security interest in and lien on, all of the Debtor's right, title and interest in, to and under the following, whether now existing or hereafter acquired (the "Collateral"):
(i) all Receivables;
(ii) all Other Intangibles;
(iii) all Equipment;
(iv) all Inventory;
(v) to the extent not included in the foregoing, all securities (whether certificated or uncertificated) and all financial assets, whether now existing or hereafter arising, including, without limitation, all capital stock issued by any Person and held by Debtor, and all partnership interests, whether in the nature of a joint venture, limited liability company member's interest, master limited partnership, teaming arrangement or otherwise;
(vi) to the extent not included in the foregoing, all other personal property, whether tangible or intangible, and wherever located whether within or outside of the United States, including, but not limited to, the balance of every deposit account now or hereafter existing of the Debtor with any bank or other financial institution and all monies of the Debtor and all rights to payment of money of the Debtor;
(vii) to the extent not included in the foregoing, all books, ledgers and records and all computer programs, tapes, discs, punch cards, data processing software, transaction files, master files and related property and rights (including computer and peripheral equipment) necessary or helpful in enforcing, identifying or establishing any item of Collateral; and
(viii) to the extent not otherwise included, all Proceeds and products of any or all of the foregoing, whether existing on the date hereof or arising hereafter; provided, however, notwithstanding anything to the contrary contained herein, the Debtor is not assigning, pledging or otherwise encumbering u...
Grant of Security Interests. (a) As security for the prompt and complete payment and performance when due of all of its Obligations, the Borrower does hereby assign, pledge and transfer unto the Collateral Agent for the ratable benefit of the Secured Parties, and does hereby grant to the Collateral Agent for the ratable benefit of the Secured Parties, a continuing security interest of first priority (subject to Permitted Liens) in all of the right, title and interest of the Borrower in, to and under all of the assets of the Borrower whether now existing or hereafter from time to time acquired (the “Collateral”), including, without limitation, the following:
(i) All Accounts, Inventory, Chattel Paper, Instruments, Deposit Accounts, Securities Accounts, Commodities Accounts, Commercial Tort Claims, Letter of Credit Rights and Investment Property (including, without limitation, all Swap Contracts) now owned or hereafter acquired by the Borrower, together with any property the sale or lease of which has given rise to such Accounts, Inventory, Chattel Paper, Instruments, Deposit Accounts, Securities Accounts, Commodities Accounts, Letter of Credit Rights or Investment Property and all Supporting Obligations securing the payment of, or performance under, any such Accounts, Inventory, Chattel Paper, Instruments, Deposit Accounts, Securities Accounts, Commodities Accounts, Letter of Credit Rights or Investment Property;
(ii) All other personal property now owned or hereafter acquired by the Borrower, including Documents, Documents of Title, Equipment, machinery, fixtures, licenses, patents, trademarks, contracts, contract rights and other General Intangibles (including, without limitation, all rights of the Borrower under any Swap Contracts);
(iii) All policies of insurance (whether or not required by the Collateral Agent) covering any property referred to herein;
(iv) All books, records, supplies, customer lists and other materials in any way related to any property described herein including computer software, computer files and all licenses and other rights necessary to own, operate and access the same;
(v) All money or property of the Borrower in the Collateral Agent's possession;
(vi) Cash and investments of the Borrower; and
(vii) All proceeds, products, replacements, additions to, increases of, substitutions for, accessions of, and property necessary for the operation of any of the property described herein, including insurance payable as a result of loss or damage to such property and...
Grant of Security Interests. (a) Each Subsidiary Grantor hereby grants to the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in such Subsidiary Grantor’s right, title and interest in and to the following, in each case, as to each type of property described below, whether now owned or hereafter acquired by such Subsidiary Grantor, wherever located, and whether now or hereafter existing or arising (collectively, the “Security Collateral”):
(i) the Initial Pledged Equity and the certificates, if any, representing the Initial Pledged Equity, and all dividends, distributions, return of capital, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for, or in conversion of, any or all of the Initial Pledged Equity and all subscription warrants, rights or options issued thereon or with respect thereto;
(ii) all additional shares of stock and other Equity Interests of or in any Pledged Company from time to time acquired by such Subsidiary Grantor in any manner (such shares and other Equity Interests, together with the Initial Pledged Equity, being the “Pledged Equity”), and the certificates, if any, representing such additional shares or other Equity Interests, and all dividends, distributions, return of capital, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such Pledged Equity and all subscription warrants, rights or options issued thereon or with respect thereto;
(iii) all books and records of such Grantor pertaining to the Security Collateral;
(iv) all supporting obligations, general intangibles and contract rights (including rights under limited liability company agreements, limited partnership agreements and any other organizational or constituent documents pursuant to which Pledged Equity has been issued or which sets out rights with respect thereto), warranties, indemnities or guaranties, in each case to the extent relating to, or payable in respect of, interests in the Security Collateral, and any tort claims (including all commercial tort claims) arising in connection with interests in the Security Collateral; and
(v) all proceeds of the foregoing Security Collateral.
(b) Each Subsidiary Grantor hereby grants to the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in such Subsidiary Grantor’s right, title and interest in and to the foll...
Grant of Security Interests. Each Grantor hereby grants to the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in all of the following property now owned or at any time hereafter acquired or created by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest (collectively, the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of such Grantor’s Obligations:
(a) all Accounts;
(b) all Chattel Paper;
(c) all Deposit Accounts;
(d) all Documents;
(e) all Equipment;
(f) all Fixtures;
(g) all General Intangibles;
(h) all Goods not covered by the other clauses of this Section 3;
(i) all Instruments, including the Pledged Notes;
(j) all Intellectual Property;
(k) all Inventory;
(l) all Investment Property;
(m) all other tangible and intangible personal property not otherwise described above;
(n) all books and records pertaining to the Collateral; and
(o) to the extent not otherwise included, all Proceeds, Supporting Obligations and products of any of the Collateral and products of any and all of the foregoing and all collateral security and guarantees given by any Person with respect to any of the foregoing; provided, however, that notwithstanding any of the other provisions set forth in this Section 3.1, this Agreement shall not constitute a grant of a security interest in (i) any leasehold interest in real property, (ii) any Vehicles and all Proceeds thereof, (iii) any property to the extent that such grant of a security interest is (A) prohibited by any Requirements of Law of a Governmental Authority, (B) requires a consent not obtained of any Governmental Authority pursuant to such Requirement of Law or (C) prohibited by, or constitutes a breach or default under or results in the termination of or requires any consent not obtained under, any contract, license, agreement, instrument or other document evidencing or giving rise to or otherwise related to such property or, in the case of any Investment Property, any Pledged Security, any applicable shareholder or similar agreement, except to the extent that such Requirement of Law or the term in such contract, license, agreement, instrument or other document or shareholder or similar agreement providing for such prohibition, breach, default or termination or requiring such consent is ineffective under applicable law (provided that, the for...
Grant of Security Interests. In addition to the other rights provided in this Section 8.9, each Term Lender may grant a security interest in, or otherwise assign as collateral, any of its rights under this Agreement, whether now owned or hereafter acquired (including rights to payments of principal or interest on the Term Loan), to (i) any federal reserve bank (pursuant to Regulation A of the Federal Reserve Board), without notice to the Term Agent or (ii) any holder of, or trustee for the benefit of the holders of, such Term Lender’s Indebtedness or equity securities, by notice to the Term Agent; provided, however, that no such holder or trustee, whether because of such grant or assignment or any foreclosure thereon (unless such foreclosure is made through an assignment in accordance with clause (b) above), shall be entitled to any rights of such Term Lender hereunder and no such Term Lender shall be relieved of any of its obligations hereunder.
Grant of Security Interests. Borrower grants to Collateral Agent and Lender a valid, continuing security interest in all presently existing and hereafter acquired or arising Collateral in order to secure prompt, full and complete payment of any and all Obligations and in order to secure prompt, full and complete performance by Borrower of each of its covenants and duties under each of the Loan Documents (other than the Warrants). The “Collateral” shall mean and include all right, title, interest, claims and demands of Borrower in the following:
Grant of Security Interests. As security for the payment of the Obligations and all Post-Petition Interest and Expense Claims (collectively, the "Secured Obligations"), Grantor hereby assigns to Secured Party for the benefit of the Beneficiaries, and grants Secured Party for the benefit of the Beneficiaries security interests in, all of Grantor's right, title and interest in and to the following types or items of property, in each case whether now or hereafter existing or owned by Grantor or in which Grantor now owns or hereafter acquires an interest and wherever the same may be located (collectively, the "Collateral"):
(i) all Inventory, including specifically all raw materials, work-in-process, finished goods, supplies, materials, spare parts, Goods held for sale or on lease or for lease or furnished or to be furnished under contracts of service, merchandise inventory, rental inventory, and returned or repossessed Goods and all rights to enforce return or repossession by reclamation, stoppage in transit or otherwise,
(ii) all Equipment, including specifically all manufacturing, printing, distribution, delivery, retailing, vending, data processing, communications, office and other equipment in all of its forms, all vehicles, all tools, dies, and molds, all Fixtures, all other Goods used or bought for use primarily in a business and all other Goods except Inventory,
(iii) all Accounts,
(iv) all Chattel Paper,
(v) all Documents,
(vi) all Instruments and all other Claims that are in any respect evidenced or represented by any writing, including any promissory notes and all other notes and all other writings evidencing or representing a Claim against any Subsidiary of the Grantor or any other Person,
(vii) all Securities, whether constituting Certificated Securities or Uncertificated Securities, all Notes, all Financial Assets, all Security Entitlements, all Securities Accounts, all Commodity Contracts, all Commodity Accounts, and all other Investment Property, including specifically the Security Certificates described in Schedule 3.1(b) and all other Equity Interests and all Existing Investments; provided, however, that only 65% of the issued and outstanding capital stock of foreign subsidiaries of the Grantor shall be pledged,
(viii) all money, cash and cash equivalents, including specifically all deposit accounts and all certificates of deposit,
(ix) all General Intangibles, including specifically (a) the property described on Schedule 3.1(c), (b) all registered and unregistered trade...
Grant of Security Interests. The Borrower hereby pledges, assigns, conveys, mortgages, transfers and grants to Bank a security interest in and to the following, and to the extent the documents, instruments or other items evidencing and representing the following have not been delivered to Borrower, Borrower hereby covenants and agrees to deliver such documents, instruments or other items (the “Collateral”) to Bank:
2.8.1.1. The Mortgage Note for or with respect to each Eligible Mortgage Loan funded in whole or in part with an Advance under this Line of Credit, and all of the indebtedness evidenced by such Mortgage Notes
2.8.1.2. Any and all contract rights of Borrower under or with respect to each Lock for an Eligible Mortgage Loan, including, but not limited to, the right to collect and retain the proceeds from the sale of any Eligible Mortgage Loan to a Qualified Investor (or any other purchaser should the Qualified Investor fail or refuse to Purchase the Eligible Mortgage Loan), together with any guarantees, security interests, escrows and deposits, if any, securing payments thereof arising from or under the contract and/or the Lock
2.8.1.3. All of its right, title and interest in and to the Mortgages and other instruments securing the payment of the indebtedness evidenced by the Mortgage Notes including, but not limited to, all escrows included thereunder and all servicing rights and proceeds from the sale of servicing rights, (and Borrower hereby subrogates the Bank to its position as lien holder to the end that Bank may, at its election, exercise, if necessary, in Borrower’s name, all of the rights of the beneficiary of said Mortgages and other similar security instruments)
2.8.1.4. All proceeds from the sale or transfer of each Eligible Mortgage Loan
2.8.1.5. All deposits of Borrower (whether general or special, time or demand, provisional or final, or individual or joint) maintained with or at Bank or any of its affiliates, custodians or designees
2.8.1.6. All escrows, deposits, and other monies or consideration received by or on behalf of Borrower with respect to each Eligible Mortgage Loan funded, in whole or in part with an Advance under this Line of Credit, including, but not limited to, escrows for insurance, taxes and interest and payments made under the Eligible Mortgage Loan by the Mortgagor
2.8.1.7. All proceeds of any hazard insurance which may arise from damage to or destruction of any property directly or indirectly securing Borrower’s indebtedness which may arise ...