Security Interest in Other Collateral Sample Clauses

The 'Security Interest in Other Collateral' clause establishes the lender's right to claim a security interest not only in the primary collateral but also in additional assets owned by the borrower. This may include inventory, equipment, accounts receivable, or other property beyond the main asset securing the loan. By broadening the scope of assets covered, this clause enhances the lender's protection and increases the likelihood of recovering the loan amount if the borrower defaults.
Security Interest in Other Collateral. Assuming the acquisition of Eligible Investments in accordance with the Sale and Servicing Agreement, such Eligible Investments will be subject to a valid, binding and enforceable first priority security interest in favor of the Collateral Agent, as collateral agent for Financial Security, subject only, to the extent set forth in Section 5.01(d) hereof, to the interest of the Indenture Trustee with respect to the Indenture Property and the Securityholders; assuming deposit of each check constituting proceeds of the Contracts in the Collection Account or Holding Account, as applicable, within ten days of receipt of such check by the Master Servicer, such check will be subject to a valid, first priority perfected security interest in favor of the Collateral Agent, subject, to the extent set forth in Section 5.01(d) hereof, to the interest of the Indenture Trustee with respect to the Indenture Property and the Securityholders; at such time as it is received by the Master Servicer and until deposited in the Collection Account or Holding Account, as applicable; the proceeds of such deposited check that remain in the Collection Account or the Holding Account will be subject to a valid, first priority security interest in favor of the Collateral Agent, subject, to the extent set forth in Section 5.01(d) hereof, to the interest of the Trust under the Sale and Servicing Agreement.
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Security Interest in Other Collateral. Assuming the acquisition of Eligible Investments in accordance with the Sale and Servicing Agreement, such Eligible Investments will be subject to a valid, binding and enforceable first priority security interest in favor of the Collateral Agent, as collateral agent for Financial Security, subject only, to the extent set forth in Section 5.01(d) hereof, to the interest of the Indenture Trustee with respect to the Indenture Property and the Securityholders; assuming deposit of each check constituting proceeds of the Contracts in the Collection Account or Holding Account, as applicable, within ten days of
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Related to Security Interest in Other Collateral

  • Security Interest in Collateral The provisions of this Agreement and the other Loan Documents create legal and valid Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority over all other Liens on the Collateral except in the case of (a) Permitted Encumbrances, to the extent any such Permitted Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to any applicable law or agreement and (b) Liens perfected only by possession (including possession of any certificate of title) to the extent the Administrative Agent has not obtained or does not maintain possession of such Collateral.

  • Other Collateral The taking or accepting of any other security, collateral or guaranty, or other assurance of payment, for all or any part of the Guaranteed Obligations.

  • Security Interest in Financed Equipment Immediately prior to the sale, assignment and transfer thereof, each Receivable shall be secured by a validly perfected first priority security interest in the Financed Equipment in favor of CNHICA as secured party or all necessary and appropriate actions have been commenced that would result in the valid perfection of a first priority security interest in the Financed Equipment in favor of CNHICA as secured party.

  • Security Interest in the Collateral To secure the prompt payment and performance to Agent and each Lender of the Obligations, each Borrower hereby assigns, pledges and grants to Agent for its benefit and for the ratable benefit of each Lender a continuing security interest in and to and Lien on all of its Collateral, whether now owned or existing or hereafter acquired or arising and wheresoever located. Each Borrower shall ▇▇▇▇ its books and records as may be necessary or appropriate to evidence, protect and perfect Agent’s security interest and shall cause its financial statements to reflect such security interest. Each Borrower shall promptly provide Agent with written notice of all commercial tort claims, such notice to contain the case title together with the applicable court and a brief description of the claim(s). Upon delivery of each such notice, such Borrower shall be deemed to hereby grant to Agent a security interest and lien in and to such commercial tort claims and all proceeds thereof.

  • Security Interest in Financed Vehicles Immediately prior to the transfer of the Receivables by the Depositor to the Trust, each Receivable was secured by a valid, binding and enforceable first priority perfected security interest in favor of the Seller in the related Financed Vehicle, or all necessary and appropriate actions shall have been commenced that would result in the valid perfection of a first priority security interest in favor of the Seller in the Financed Vehicle, which security interest has been validly assigned by the Seller to the Depositor pursuant to the Receivables Purchase Agreement and by the Depositor to the Trust hereunder.