Security Interest and Lien. In the event that you fail to make any payments required hereunder within thirty (30) days of any Due Date, you hereby irrevocably authorize Pearl City at any time, and from time to time, in its sole discretion, to file in any relevant jurisdiction any lien, financing statements and amendments thereto that contain the information required by Article 9 of the Uniform Commercial Code of each applicable jurisdiction for the filing of any financing statement or amendment relating to all of your right, title, and interest in and to the following, wherever located, whether now existing or hereafter from time to time arising or acquired: (i) all fixtures, personal property, real property, and farm products (including all livestock, born or unborn, and products of livestock in unmanufactured states, and feed for all livestock); and (ii) all proceeds and products of each of the foregoing ((i) and (ii) collectively, the “Collateral”), and you hereby grant a security interest in the Collateral to Pearl City, as a secured party, and waive any and all defenses to the filing of the lien and granting of the security interest.
Appears in 2 contracts
Sources: Credit Application and Agreement, Credit Application and Agreement