Common use of Prior Encumbrances Clause in Contracts

Prior Encumbrances. To the extent applicable, Grantor shall fully and timely perform any and all of Grantor’s obligations under any prior Encumbrances affecting the Collateral. Without limiting the foregoing, Grantor shall not commit or permit to exist any material breach of or default under any such prior Encumbrances. Grantor shall further promptly notify Lender in writing upon the occurrence of any event or circumstances that would, or that might, result in a material breach of or default under any such prior Encumbrance. Grantor shall further not modify or extend any of the terms of any prior Encumbrance or any indebtedness secured thereby, or, except as set forth in the Business Loan Agreement, request or obtain any additional loans or other extensions of credit from any third party creditor or creditors whenever such additional loan advances or other extensions of credit may be directly or indirectly secured, whether by cross-collateralization or otherwise, by the Collateral, or any part or parts thereof, with possible preference and priority over Lender’s security interest, without Lender’s prior written consent which shall not be unreasonably withheld. Grantor additionally agrees to obtain, upon Lender’s request, and in form and substance as may then be reasonably satisfactory to Lender, appropriate waivers and subordinations of any lessor’s liens or privileges, vendor’s liens or privileges, purchase money security interests, and any other Encumbrances that may affect the Collateral at any time.

Prior Encumbrances. To the extent applicable, Grantor shall fully and timely perform any and all of Grantor’s obligations under any prior Encumbrances affecting the Collateral. Without limiting the foregoing, Grantor shall not commit or permit to exist any material breach of or default under any such prior Encumbrances. Grantor shall further promptly notify Lender in writing upon the occurrence of any event or circumstances that would, or that might, result in a material breach or of or default under any such prior Encumbrance. Grantor shall further not modify or extend any of the terms of any prior Encumbrance or any indebtedness secured thereby, or, except as set forth in the Business Loan Agreement, or request or obtain any additional loans or other extensions of credit from any third party creditor or creditors whenever such additional loan advances or other extensions of credit may be directly or indirectly secured, whether by cross-collateralization or otherwise, by the Collateral, or any part or of parts thereof, with possible preference and priority over Lender’s security interest, without Lender’s prior written consent which shall not be unreasonably withheld. Grantor additionally agrees to obtain, upon Lender’s request, and in form and substance as may then be reasonably satisfactory to Lender, appropriate waivers and subordinations of any lessor’s liens or privileges, vendor’s liens or privileges, purchase money security interests, and any other Encumbrances that may affect the Collateral at any time.

Prior Encumbrances. To the extent applicable, Grantor shall fully and timely perform any and all of Grantor’s 's obligations under any prior Encumbrances affecting the Collateral. Without limiting the foregoing, Grantor shall not commit or permit to exist any material breach of or default under any such prior Encumbrances. Grantor shall further promptly notify Lender in writing upon the occurrence of any event or circumstances that would, or that might, result in a material breach of or default under any such prior Encumbrance. Grantor shall further not modify or extend any of the terms of any prior Encumbrance or any indebtedness secured thereby, or, except as set forth in the Business Loan Agreement, or request or obtain any additional loans or other extensions of credit from any third party creditor or creditors whenever such additional loan advances or other extensions of credit may be directly or indirectly secured, whether by cross-collateralization or otherwise, by the Collateral, or any part or parts thereof, with possible preference and priority over Lender’s 's security interest, without Lender’s prior written consent which shall not be unreasonably withheld. Grantor additionally agrees to obtain, upon Lender’s 's request, and in form and substance as may then be reasonably satisfactory to Lender, appropriate waivers and subordinations of any lessor’s 's liens or privileges, vendor’s 's liens or privileges, purchase money security interests, and any other Encumbrances that may affect the Collateral at any time.

Prior Encumbrances. To the extent applicable, Grantor shall fully and timely perform any and all of Grantor’s its obligations under any prior Encumbrances affecting the Collateral. Without limiting the foregoing, Grantor shall not commit or permit to exist any material breach of or default under any such prior Encumbrances. Grantor shall further promptly notify Lender in writing upon the occurrence of any event or circumstances that would, or that might, result in a material breach of or default under any such prior Encumbrance. Grantor shall further not modify or extend any of the terms of any prior Encumbrance or any indebtedness Indebtedness secured thereby, or, except as set forth in the Business Loan Agreement, or request or obtain any additional loans or other extensions of credit from any third party creditor or creditors whenever such additional loan advances or other extensions of credit may be directly or indirectly secured, whether by cross-cross- collateralization or otherwise, by the Collateral, or any part or parts thereof, with possible preference and priority over Lender’s security interest, without Lender’s prior written consent which shall not be unreasonably withheld's Security Interest. Grantor additionally agrees to use its best reasonable efforts to obtain, upon request by Lender’s request, and in form and substance as may then be reasonably satisfactory to Lender, appropriate waivers and and/or subordinations of any lessor’s 's liens or privileges, vendor’s 's liens or privileges, purchase money security interests, and any other Encumbrances that may affect the Collateral at any time; and if such waivers or subordinations cannot be obtained by Grantor to cause to be paid such claims giving rise to any prior Encumbrances affecting the Collateral.