Lien on Deposits and Property in Possession of any Lender Clause Samples

Lien on Deposits and Property in Possession of any Lender. It is acknowledged that, pursuant to applicable Law, each Creditor now or hereafter holding deposits made by Borrower or which is in possession of other Property of Borrower may have bankers liens or offset rights in respect of such deposits or other Property, and it is agreed that such liens and rights shall benefit the Creditors as a whole in respect of the Obligations. If an Event of Default has occurred and is continuing, any Creditor may (but only with the consent of the Requisite Lenders), to the extent permitted by applicable Laws, exercise any rights granted by applicable Laws with respect to such liens and offset rights and apply any funds and any other Property of Borrower obtained in connection with the exercise of such rights against the Obligations.
Lien on Deposits and Property in Possession of any Lender. As --------------------------------------------------------- security for the prompt payment and performance of all Obligations, Borrower hereby grants to each Creditor, as the representative of all other Creditors, a security interest in and a right of off-set with respect to, all its right, title, and interest in and to any and all deposit accounts now or hereafter maintained with that Creditor in and to any and all of its Property and the proceeds thereof now or hereafter in the possession of that Creditor. If an Event of Default has occurred and is continuing, any Lender (but only with the consent of the Requisite Lenders) may, to the extent permitted by applicable Laws, exercise its rights under Article 9 of the Uniform Commercial Code and other applicable Laws (including its right of off-set) and apply any funds in any deposit account maintained with it by Borrower and any Property of Borrower in its possession against the Obligations.
Lien on Deposits and Property in Possession of any Lender. As security for the prompt payment and performance of all Revolving Obligations, the Borrower hereby grants to each Creditor, as the representative of all other Creditors, a security interest in and a right of off-set with respect to, all its right, title, and interest in and to any and all deposit accounts now or hereafter maintained with that Creditor in and to any and all of its Gaming Assets and the proceeds thereof now or hereafter in the possession of that Creditor. If an Event of Default has occurred and is continuing, any Lender (but only with the consent of the Requisite Lenders) may, to the extent permitted by applicable Laws, exercise its rights under Article 9 of the Uniform Commercial Code and other applicable Laws (including its right of off-set) and apply any funds in any deposit account maintained with it by the Borrower and any Gaming Assets of the Borrower in its possession against the Revolving Obligations.
Lien on Deposits and Property in Possession of any Lender. As security for the prompt payment and performance of all Obligations, each Borrower hereby grants to the Administrative Agent, ING UK and the Lenders and each of them a Lien on and a security interest in all its right, title, and interest in and to any and all deposit accounts now or hereafter maintained with the Administrative Agent, ING UK or any Lender and in and to any and all of its Property and the proceeds thereof now or hereafter in the possession of the Administrative Agent, ING UK or any Lender. The preceding sentence shall not be construed as a grant of a Lien by LEP UK to secure any portion of the Domestic Commitment. If an Event of Default has occurred and is continuing and has resulted in the taking of the actions contemplated in Section 10.2(a)(iii) or 10.2(b), the Administrative Agent, ING UK or any Lender (but only with the consent of the Majority Lenders) may, to the extent permitted by applicable Laws, exercise its rights under Article 9 of the Uniform Commercial Code and other applicable Laws and apply any funds in any deposit account maintained with it by Borrower and any Property of the Borrower in its possession against the Obligations.

Related to Lien on Deposits and Property in Possession of any Lender

  • Possessory Collateral Agent as Gratuitous Bailee for Perfection (a) The Possessory Collateral shall be delivered to the Credit Agreement Collateral Agent and the Credit Agreement Collateral Agent agrees to hold any Shared Collateral constituting Possessory Collateral that is part of the Collateral in its possession or control (or in the possession or control of its agents or bailees) as gratuitous bailee for the benefit of each other ▇▇▇▇ ▇▇▇▇ Secured Party and any assignee solely for the purpose of perfecting the security interest granted in such Possessory Collateral, if any, pursuant to the applicable ▇▇▇▇ ▇▇▇▇ Security Documents, in each case, subject to the terms and conditions of this Section 2.09; provided that at any time the Credit Agreement Collateral Agent is not the Applicable Collateral Agent, the Credit Agreement Collateral Agent shall, at the request of the Additional ▇▇▇▇ ▇▇▇▇ Collateral Agent, promptly deliver all Possessory Collateral to the Additional ▇▇▇▇ ▇▇▇▇ Collateral Agent together with any necessary endorsements (or otherwise allow the Additional ▇▇▇▇ ▇▇▇▇ Collateral Agent to obtain control of such Possessory Collateral). The Company shall take such further action as is required to effectuate the transfer contemplated hereby and shall indemnify each Collateral Agent for loss or damage suffered by such Collateral Agent as a result of such transfer except for loss or damage suffered by such Collateral Agent as a result of its own willful misconduct, gross negligence or bad faith. (b) The Applicable Collateral Agent agrees to hold any Shared Collateral constituting Possessory Collateral, from time to time in its possession, as gratuitous bailee for the benefit of each other ▇▇▇▇ ▇▇▇▇ Secured Party and any assignee, solely for the purpose of perfecting the security interest granted in such Possessory Collateral, if any, pursuant to the applicable ▇▇▇▇ ▇▇▇▇ Security Documents, in each case, subject to the terms and conditions of this Section 2.09. (c) The duties or responsibilities of each Collateral Agent under this Section 2.09 shall be limited solely to holding any Shared Collateral constituting Possessory Collateral as gratuitous bailee for the benefit of each other ▇▇▇▇ ▇▇▇▇ Secured Party for purposes of perfecting the Lien held by such ▇▇▇▇ ▇▇▇▇ Secured Parties therein.

  • Access to Property, Property’s Management, Property Lender, and Property Tenants Potential Investor agrees to not seek to gain access to any non-public areas of the Property or communicate with Property’s management employees, the holder of any financing encumbering the Property, the Property’s tenants, and the Owner’s partners in the ownership of the Property, without the prior consent of Owner or JLL, which consent may be withheld in the Owner’s sole discretion.

  • Parties in Possession Except as disclosed on Exhibit B, there are no parties in possession of any Leased Property or any portion thereof as managers, lessees, tenants at sufferance, or trespassers.

  • Collateral in the Possession of a Bailee If any Inventory or other Goods are at any time in the possession of a bailee, such Assignor shall promptly notify the Collateral Agent thereof and, if requested by the Collateral Agent, shall use its commercially reasonable efforts to promptly obtain an acknowledgment from such bailee, in form and substance reasonably satisfactory to the Collateral Agent, that the bailee holds such Collateral for the benefit of the Collateral Agent and shall act upon the instructions of the Collateral Agent, without the further consent of such Assignor. The Collateral Agent agrees with such Assignor that the Collateral Agent shall not give any such instructions unless an Event of Default has occurred and is continuing or would occur after taking into account any action by the respective Assignor with respect to any such bailee.

  • Mortgagee in Possession Nothing herein contained shall be construed as constituting Mortgagee a mortgagee in possession in the absence of the actual taking of possession of the Premises by Mortgagee pursuant to this Mortgage.