No Cross-Collateralization Sample Clauses
The No Cross-Collateralization clause prohibits the use of collateral provided for one obligation or agreement to secure another, separate obligation or agreement. In practice, this means that if a borrower has multiple loans or contracts with the same lender, the assets pledged as security for one loan cannot be used to cover defaults or obligations under a different loan. This clause ensures that each agreement remains financially independent, protecting the borrower from having all their assets at risk due to issues with a single obligation and providing clarity on the scope of collateral rights.
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No Cross-Collateralization. The Loan Collateral for a REIT Loan does not secure any obligation other than the REIT Loans transferred pursuant to this Agreement.
No Cross-Collateralization. For the avoidance of doubt, the parties hereto agree that the Collateral of the Canadian Loan Parties securing the Canadian Obligations shall not constitute security for the Domestic Obligations or the Ex-Im Obligations.
No Cross-Collateralization. Third Party Lender agrees that the Common Collateral will only secure its Third Party Loan and the Common Collateral is not currently, and will not be used in the future, as security for any other financing provided by Third Party Lender to Borrower that purports to be in a superior position to that of the CDC Lien, unless authorized in writing by CDC and SBA.
No Cross-Collateralization. For the avoidance of doubt, the parties hereto agree that the Collateral of the Singapore Loan Parties securing the Secured Obligations of the Singapore Loan Parties shall not constitute security for the Domestic Obligations.
No Cross-Collateralization. No Mortgage Loan is cross-collateralized or cross-defaulted with any other Mortgage Loan and/or any loan.
No Cross-Collateralization. The Loan Collateral for a Bank Loan does not secure any obligation other than the Bank Loans transferred pursuant to this Agreement.
No Cross-Collateralization. For avoidance of doubt, and notwithstanding anything to the contrary set forth in this Agreement or any other Loan Document, and other than Lender’s lien on the Collateral, the Loan, and the Obligations hereunder and under any of the other Loan Documents are not secured or cross-collateralized by any other properties, interests or assets whatsoever of the Borrower or any Affiliate of Borrower. In addition, and for avoidance of doubt, (a) the prior Inventory Loan was previously paid in full and any prior cross-collateralization between the Loan and Inventory Loan, as reflected in the Second A&R Loan Agreement, was eliminated contemporaneously therewith and (b) the acquisition loan advanced by Lender to certain Affiliates of Borrower to acquire the Eilan Hotel & Spa is not cross-collateralized with the Loan.
No Cross-Collateralization. For the avoidance of doubt, the parties hereto agree that (i) the Collateral securing the Secured Obligations of the Canadian Loan Parties shall not constitute security for the Obligations of the Domestic Loan Parties; and (ii) the Collateral securing the Secured Obligations of the UK Loan Parties shall not constitute security for the Obligations of the Domestic Loan Parties.
No Cross-Collateralization. Royalty payments as provided under Paragraph 6(b) shall only be applied against the Minimum Guaranty for the Contract Year in which the royalty payment accrued, i.e., any shortfall in a given Contract Year or payment in excess of the minimum guaranteed payment may not be off-set or credited against royalty payments for any other Contract Year.
No Cross-Collateralization. Each Licensed Picture shall be separately accounted for as a single accounting unit, and Fox shall not cross-collateralize any amounts with respect to the Licensed Pictures or any other motion pictures in any manner. For the avoidance of doubt, all accountings with respect to each Licensed Picture shall be on a “single pot” basis across all media licensed to or serviced by Fox hereunder with respect to such Licensed Picture.