Common use of Security Agreement and Financing Statements Clause in Contracts

Security Agreement and Financing Statements. The Company shall have executed and delivered to the Bank an amended and restated security agreement in form and substance satisfactory to the Bank (as modified or amended from time to time, the “Security Agreement”), granting the Bank a first priority security interest in all of the Company’s inventory, whether now existing or hereafter acquired. The Company shall have delivered to the Bank financing statements in the appropriate form, receipted to show that they have been filed in the appropriate jurisdictions to perfect a first priority lien in the security interests granted to the Bank in the Security Agreement.

Security Agreement and Financing Statements. The Company shall have executed and delivered to the Bank an amended and restated a security agreement in form and substance satisfactory to the Bank (as modified or amended from time to time, the “Security Agreement”), granting the Bank a first priority security interest in all of the Company’s inventory, whether now existing or hereafter acquired. The Company shall have delivered to the Bank financing statements in the appropriate form, receipted to show that they have been filed in the appropriate jurisdictions to perfect a first priority lien in the security interests granted to the Bank in the Security Agreement.