Identification of Collateral Clause Samples
The Identification of Collateral clause defines and specifies the assets or property that are pledged as security for a loan or obligation. In practice, this clause details the types of collateral involved—such as real estate, equipment, inventory, or financial instruments—and may outline how these assets are described, valued, or documented within the agreement. Its core function is to ensure both parties clearly understand which assets are subject to the security interest, thereby reducing ambiguity and protecting the lender’s rights in the event of default.
Identification of Collateral. All of the right, title and interest of Debtor in and to the following property, wherever located and whether now owned by Debtor or hereafter acquired by Debtor:
Identification of Collateral. Without limiting the foregoing general grant of a security interest, as set forth in the Security Agreement, Collateral subject to the security interest granted herein shall include but not be limited to (i) inventory listed on invoices submitted to Bank by manufacturers attached to drafts submitted by manufacturers for payment, which drafts Bank pays; and/or (ii) inventory in Borrower's possession set out on a list submitted by Borrower as Collateral for Advances directly to Borrower.
Identification of Collateral. For the purpose of identifying the Collateral, so long as Precious Metal of a particular Category is subject to any Consignment or Gold Loan, all Precious Metal of such Category in the possession or control of each Customer, or Precious Metal of such Category held by a third party for the account of a Customer, shall constitute Collateral notwithstanding that (i) such Precious Metal is in alloyed form or is contained in raw materials, work-in-process, or finished goods, (ii) such Precious Metal was delivered to, or credited to the account of, a Customer by a third party in exchange for or in consideration of Precious Metal delivered by the Metal Lender to such third party, (iii) such Precious Metal was sold by a Customer to the Metal Lender and then consigned or loaned back to such Customer pursuant to this Agreement, (iv) such Precious Metal has been commingled with other Inventory of the Customers, or (v) such Precious Metal is otherwise demonstrably not the actual Precious Metal physically delivered by the Metal Lender.
Identification of Collateral. All Mortgage Loans and Securities at any time delivered to the Collateral Agent hereunder shall be held by the Collateral Agent in a fire resistant vault, drawer or other suitable depositary maintained in accordance with Federal Agency standards and controlled solely by the Collateral Agent, conspicuously marked to show the respective interests of the Secured Parties therein and not commingled with any other assets or property of, or held by, the Collateral Agent. Accordingly, if (pursuant to Paragraph 7(b) below) the Collateral Agent receives a shipping request pursuant to which the Collateral Agent is to retain physical possession of the applicable Mortgage Loans or Securities as an agent for any Person other than the Secured Parties, the Collateral Agent shall physically separate such Mortgage Loans or Securities from the remainder of the Collateral and shall execute any transmittal letters required under Paragraph 7(b) below.
Identification of Collateral. All Mortgage Loans and Securities at any time delivered to the Collateral Agent hereunder shall be held by the Collateral Agent in a fire resistant vault, drawer or other suitable depositary maintained in accordance with Federal Agency standards and controlled solely by the Collateral Agent, conspicuously marked to show the respective interests of the Secured Parties therein and not commingled with any other assets or property of, or held by, the Collateral Agent. Accordingly, if (pursuant to Paragraph 7(b) below) the Collateral Agent receives a shipping request pursuant to which National City Bank of Kentucky is to retain physical possession of the applicable Mortgage Loans or Securities as an agent for any Person other than the Secured Parties, the Collateral Agent shall physically separate such Mortgage Loans or Securities from the remainder of the Collateral and shall execute any transmittal letters required under Paragraph 7(b) below.
Identification of Collateral. Upon demand of the Bank, Debtor shall ▇▇▇▇ any or all Collateral in a manner sufficient to identify the security interest of the Bank.
Identification of Collateral. If requested by Lender, the Borrower is to cause each unit of Collateral as applicable, and to the extent reasonably practicable, to be kept numbered and identified in order to protect the security interest of Lender in and to such Collateral.
Identification of Collateral. Upon request of the Bank, Debtor will stamp on its records concerning the Collateral, a notation, in form satisfactory to the Bank, of the security interest of the Bank hereunder and when requested by the Bank, Debtor shall further affix to the Collateral such signs or labels as shall be satisfactory to Bank to indicate the security interest of Bank in the Collateral. Upon request of Bank at anytime, Debtor will deliver to Bank lists or copies of all Collateral promptly and will deliver to Bank, promptly upon receipt, all proceeds of Collateral received by Debtor, including proceeds of the Accounts Collateral referred to above, in the exact form in which they are received. To protect Bank's rights hereunder, Debtor will assign or endorse proceeds to Bank as Bank may request, and hereby constitutes any officer or employee of Bank its true and lawful attorney-in-fact, with full power to endorse the name of Debtor upon any invoice, freight or express bill ▇▇ bill ▇▇ lading relating to any such accounts, upon drafts against account debtors and assignments and verifications of accounts and notices to account debtors; upon any and every remittance or instrument of payment, including checks, drafts and money orders, and in whatever form received; and to do and perform all other acts and things necessary, proper and requisite to carry out the intent of this Agreement. The power herein granted shall be deemed to be coupled with an interest and shall not be revoked by Debtor until Bank has been paid all sums due it, including all proper expenses, with interest. All such items received by Bank for the Collateral shall be deposited to the credit of Debtor in an account maintained at Bank, as security for the payment of the indebtedness. Bank may, from time to time, in its discretion, (a) apply all of the then balance, representing collected funds, in such deposit account, toward payment of all or any part of the indebtedness secured hereby, whether or not then due, in such order of application as Bank, in its sole discretion, may determine, or (b) permit Debtor to use all or part of said account in the normal course of Debtor's business.
Identification of Collateral. The Debtor will deliver to the Secured Party, as the Secured Party requires, any documents, lists, descriptions and other information necessary or proper to keep the Secured Party fully informed of the description of the Collateral. The Debtor will fully cooperate with the Secured Party concerning verifications and audits of the Collateral.
Identification of Collateral. (a) The parties hereto agree, subject to the other provisions of this Agreement, to cooperate in good faith (and to direct their counsel to cooperate in good faith) to determine the specific items included in the Collateral and the Second Lien Priority Collateral, the steps taken to perfect the Liens thereon, and the identity of the persons having First Lien Obligations or Second Lien Obligations.
(b) Until the Discharge of First Lien Obligations, regardless of whether an Insolvency Proceeding has commenced, the Grantors agree not to grant an additional Lien to secure the Second Lien Obligations on any asset or property from any Grantor unless the First Lien Agent shall have consented in writing to the granting of such Lien. Notwithstanding the foregoing, if any Second Lien Claimholder shall (nonetheless and in breach hereof) acquire or hold any Lien on any assets of the Borrower or any other Grantor securing any Second Lien Obligations that are not also subject to a Lien securing the First Lien Obligations under the First Lien Debt Documents, then such Second Lien Claimholder shall, without the need for any further consent of any party and notwithstanding anything to the contrary in any other document, (i) notify the First Lien Agent promptly upon becoming aware thereof and, unless such Grantor shall promptly grant a similar Lien on such assets or property to the First Lien Agent as security for the First Lien Obligations, shall assign such Lien to the First Lien Agent as security for all First Lien Obligations for the benefit of the First Lien Claimholders (but may retain a junior lien on such assets or property subject to the terms hereof) and (ii) until such assignment to the First Lien Agent or such grant of a similar Lien to the First Lien Agent, shall be deemed to also hold and have held such Lien for the benefit of the First Lien Agent and the other First Lien Claimholders as security for the First Lien Obligations, subject to the relative priorities set forth in Section 2.1. To the extent that the provisions of the immediately preceding sentence are not complied with for any reason, without limiting any other right or remedy available to the First Lien Agent or any other First Lien Claimholder, the Second Lien Claimholders agree that any amounts received by or distributed to any Second Lien Claimholder pursuant to or as a result of any Lien granted in contravention of this Section 2.2 shall be subject to Section 4.1 and Section 4.4.