Security Agreement and Assignment Clause Samples
A Security Agreement and Assignment clause establishes that a party grants a security interest in certain assets or rights to another party, typically as collateral for a loan or obligation. In practice, this clause details which specific assets—such as equipment, intellectual property, or receivables—are being pledged and outlines the process for perfecting and enforcing the security interest. Its core function is to protect the secured party by providing a legal mechanism to claim or control the specified assets if the debtor defaults, thereby reducing the lender's risk and ensuring repayment.
Security Agreement and Assignment. If Buildings are to be constructed on the Land, counterparts of the Security Agreement and Assignment (substantially in the form of Exhibit C attached hereto), duly executed by the Construction Agent, with an acknowledgment and consent thereto satisfactory to the Lessor and the Agent duly executed by the related General Contractor and the related Architect or Engineer, as applicable, and complete copies of the related Construction Contract and the related Architect's Agreement or Engineer's Agreement certified by the Construction Agent, shall have been delivered to the Lessor and the Agent (it being understood and agreed that if no related Construction Contract or Architect's Agreement or Engineer's Agreement exists on such Closing Date, such delivery shall not be a condition precedent to the Funding on such Closing Date, and in lieu thereof the Construction Agent shall deliver complete copies of such Security Agreement and Assignment and consents concurrently with the Construction Agent's entering into such contracts).
Security Agreement and Assignment. If Buildings are to be constructed on the Land, (1) counterparts of a supplement to the Construction Agency Agreement duly executed by the Construction Agent and counterparts of the Security Agreement and Assignment (substantially in the form of Exhibit C attached hereto), duly executed by the Construction Agent, with an acknowledgment and consent thereto satisfactory to the Lessor and the Agent duly executed by the related General Contractor and the related Architect or Engineer, as applicable, and complete copies of the related Construction Contract and the related Architect's Agreement or Engineer's Agreement certified by the Construction Agent, shall have been delivered to the Lessor and the Agent (it being understood and agreed that if no related Construction Contract or Architect's Agreement or Engineer's Agreement exists on such Closing Date, such delivery shall not be a condition precedent to the Funding on such Closing Date, and in lieu thereof the Construction Agent shall deliver complete copies of such Security Agreement and Assignment and consents concurrently with or promptly after the Construction Agent's entering into such contracts) and (2) a supplement to the Construction Agency Agreement, duly executed by the Construction Agent and the Lessor, together with the Construction Budget for such Leased Property, shall have been delivered to the Agent.
Security Agreement and Assignment. If applicable, counterparts of the Security Agreement and Assignment (substantially in the form of Exhibit C), duly executed by the Lessee, with an acknowledgment and consent thereto satisfactory to the Lessor and the Agent duly executed by the related General Contractor and the related Architect, as applicable, and complete copies of the related Construction Contract and the related Architect's Agreement certified by the Lessee, shall have been delivered to the Lessor and the Agent (it being understood and agreed that if no related Construction Contract or Architect's Agreement exists on such Closing Date the Lessee shall deliver such Security Agreement and Assignment and consents concurrently with the Lessee's entering into such contracts).
Security Agreement and Assignment. The Security Agreement and Assignment (substantially in the form of Exhibit G), duly executed by the Lessee, with an acknowledgement and consent thereto satisfactory to the Lessor and the Lender duly executed by the General Contractor and complete copy of the Construction Contract certified by the Lessee shall have been delivered to the Lender.
Security Agreement and Assignment. Counterparts of the --------------------------------- Security Agreement and Assignment (substantially in the form of Exhibit C attached hereto), duly executed by the Construction --------- Agent, with an acknowledgment and consent thereto satisfactory to the Lessor and the Agent duly executed by the General Contractor, the Architect and the vendor of the Equipment (the "Vendor"), as applicable, and complete copies of the Construction Contract, the Architect's Agreement, any agreement related to the acquisition and/or installation of the Equipment certified by the Construction Agent and all other Construction Documents and payment and performance bonds, shall have been delivered to the Lessor and the Agent.
Security Agreement and Assignment. If Construction is being funded, the Security Agreement and Assignments and related consents described in Section 3.1(a)(iv) shall have been executed and delivered.
Security Agreement and Assignment. Counterparts of the Security Agreement and Assignment (substantially in the form of Exhibit C attached hereto), duly executed by the Lessee, with an acknowledgment and consent thereto satisfactory to the Lessor and the Agent duly executed by the related General Contractor and the related Architect, as applicable, and complete copies of the related Construction Contract and the related Architect's Agreement certified by the Lessee, shall have been delivered to the Lessor and the Agent (it being understood and agreed that if no related Construction Contract or Architect's Agreement exists on such Closing Date, such delivery shall not be a condition precedent to the Funding on such Closing Date, and in lieu thereof the Lessee shall deliver complete copies of such Security Agreement and Assignment and consents concurrently with the Lessee's entering into such contracts).
Security Agreement and Assignment. 8 (v) Survey...................................... 8 (vi) Title and Title Insurance .................. 9 (vii) Appraisal................................... 9 (viii) Environmental Audit and related Reliance Letter............................. 9 (ix) Evidence of Insurance....................... 10 (x) UCC Financing Statement; Recording Fees; Transfer Taxes.............................. 10 (xi) Opinions.................................... 10 (xii) Officer's Certificate....................... 10 (xiii)
Security Agreement and Assignment. If such Leased Property is a Major Property, counterparts of the Security Agreement and Assignment (substantially in the form of Exhibit C attached hereto), duly executed by the Construction Agent, with an acknowledgment and consent thereto satisfactory to the Lessor and the Agent duly executed by the related General Contractor and the related Architect, as applicable, and complete copies of the related Construction Contract and the related Architect's Agreement certified by the Construction Agent, shall have been delivered to the Lessor and the Agent (it being understood and agreed that if no related Construction Contract or Architect's Agreement exists on such Closing Date, such delivery shall not be a condition precedent to the Funding on such Closing Date, and in lieu thereof the Construction Agent shall deliver complete copies of such Security Agreement and Assignment and consents concurrently with the Construction Agent's entering into such contracts).
Security Agreement and Assignment. If Improvements having a Property Costs exceeding $500,000 are to be constructed on the Parcel, the Security Agreement and Assignment (substantially in the form of Exhibit H), duly executed by the Lessee, with an acknowledgement and consent thereto satisfactory to the Lessor and the Lender duly executed by the General Contractor therefor and complete copy of the Construction Contract, certified by the Lessee, shall have been delivered to the Lender.