Common use of Perfecting Security Interest Clause in Contracts

Perfecting Security Interest. Bank hereby irrevocably appoints Parafin as its secured party representative with full power and authority on behalf of Bank to receive and perfect the security interest in the collateral granted hereunder and to enforce Bank's rights and remedies with respect thereto, and ▇▇▇▇▇▇▇ accepts such appointment. Parafin, as secured party representative on behalf of Bank and each subsequent owner of any portion of the Loan, will have the exclusive rights to: i. Require that any bank or securities intermediary where any collateral is located acknowledge Bank’s security interest in and control of the collateral. ii. Direct and provide instructions to such bank or securities intermediary as to the disposition of the account collateral to fulfill your obligations under this Agreement.

Appears in 1 contract

Sources: Loan Agreement

Perfecting Security Interest. Bank hereby irrevocably appoints Parafin as its secured party representative with full power and authority on behalf of Bank to receive and perfect the security interest in the collateral granted hereunder and to enforce Bank's rights and remedies with respect thereto, and ▇▇▇▇▇▇▇ accepts such appointment. Parafin, as secured party representative on behalf of Bank and each subsequent owner of any portion of the Loan, will have the exclusive rights to: i. Require that any bank or securities intermediary where any collateral is located to acknowledge Bank’s security interest in and control of the collateral. ii. Direct and provide instructions to such bank or securities intermediary as to the disposition of the account collateral to fulfill your obligations under this Agreement.

Appears in 1 contract

Sources: Loan Agreement

Perfecting Security Interest. Bank hereby irrevocably appoints Parafin as its secured party representative with full power and authority on behalf of Bank to receive and perfect the security interest in the collateral granted hereunder and to enforce Bank's rights and remedies with respect thereto, and ▇▇▇▇▇▇▇ accepts such appointment. Parafin▇▇▇▇▇▇▇, as secured party representative on behalf of Bank and each subsequent owner of any portion of the Loan, will have the exclusive rights to: i. Require that any bank or securities intermediary where any collateral is located to acknowledge Bank’s security interest in and control of the collateral. ii. Direct and provide instructions to such bank or securities intermediary as to the disposition of the account collateral to fulfill your obligations under this Agreement.

Appears in 1 contract

Sources: Loan Agreement