Security Interest of Lender Sample Clauses

The Security Interest of Lender clause establishes the lender's legal right to claim specific collateral provided by the borrower as security for a loan. In practice, this means that if the borrower defaults on their obligations, the lender can seize or otherwise enforce their interest in the designated assets, such as real estate, equipment, or inventory. This clause is essential for protecting the lender's investment by reducing the risk of loss and providing a clear mechanism for recourse in the event of non-payment.
Security Interest of Lender. To induce Lender to make the Loans, and as security for all Obligations, Borrower (and Borrower ELT in its capacity as title holder to the Student Loans that are part of the Collateral) hereby assigns to Lender as collateral and grants to Lender a continuing first priority pledge and security interest in the following property of Borrower (the "Collateral"), whether now owned or existing or hereafter acquired or arising and regardless of where it is located: (a) all of Borrower's and the Borrower ELT's right, title and interest in each Student Loan owned by Borrower, including all instruments, chattel paper, documents, securities, money, cash, promissory notes, loan applications and cash proceeds and payments related thereto but excluding any such Student Loan and the instruments, chattel paper, documents, securities, money, cash, promissory note, loan application and proceeds relating thereto, that is sold and transferred to Grad Partners Premier, LLC (and Fifth Third Bank as eligible lender trustee on its behalf). (b) all of Borrower's right, title and interest in each Loan and Security Agreement listed on Exhibit A attached hereto as such exhibit may be amended from time to time. (c) all proceeds and products of Collateral and all additions and accessions to, replacements of, insurance or condemnation proceeds of, and documents covering Collateral.
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Security Interest of Lender. To the extent any Lender obtains a Lien upon or security interest in any of the Collateral in support of any Obligation of Borrowers, or any of them, that does not arise under this Agreement or any of the Loan Documents (other than a purchase money security interest or a Capitalized Lease Obligation, the incurrence and existence of which is otherwise permitted under this Agreement), such Lien and security interest shall be subordinate in priority to the Lien upon and security interest in the Collateral of Agent, held for the ratable benefit of Lenders.
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Security Interest of Lender. To induce Lender to make the Loans, and as security for all Obligations, Borrower (and Borrower ELT in its capacity as title holder to the Student Loans that are part of the Collateral) hereby assigns to Lender as collateral and grants to Lender a continuing first priority pledge and security interest in the following property of Borrower (the "Collateral"), whether now owned or existing or hereafter acquired or arising and regardless of where it is located: (a) all of Borrower's and the Borrower ELT's right, title and interest in each Student Loan owned by Borrower, including all instruments, chattel paper, documents, securities, money, cash, promissory notes, loan applications and cash proceeds and payments related thereto but excluding (i) any such Student Loan and the instruments, chattel paper, documents, securities, money, cash, promissory note, loan application and proceeds relating thereto, that is sold and transferred to Education Funding Resources, LLC (formerly known as Grad Partners Premier, LLC) (and Fifth Third Bank as eligible lender trustee on its behalf) or that is sold and transferred to Student Loan Marketing Association (SLMA) pursuant to the Exportss Agreement dated as of March 1, 2002 among SLMA, Borrower and Fifth Third Bank as eligible lender trustee on behalf of Borrower (the "SLMA Agreement") and the proceeds of such sales are delivered to Lender, and (ii) any such Student Loan and the instruments, chattel paper, documents, securities, money, cash, promissory note, loan application and proceeds relating thereto, in which a Participation Interest (as defined in the SLMA Agreement) is sold and transferred to SLMA pursuant to the SLMA Agreement, provided, however that with respect to each partially disbursed Student Loan in which SLMA owns a Participation Interest and the Borrower borrows a Revolving Loan to fund any subsequent disbursement under such Student Loan, then the Collateral shall include such Student Loan until a new Participation Interest is sold and transferred to SLMA, and the proceeds of such sales are delivered to Lender. (b) all of Borrower's right, title and interest in each Loan and Security Agreement listed on Exhibit A attached hereto, as such exhibit may be amended from time to time, and all of the Borrower's and the Borrower Eligible Lender Trustee's right, title and interest under such Loan and Security Agreement in each Student Loan financed under such Loan and Security Agreement, including all instruments, g...
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Security Interest of Lender. To induce Lender to make the Loan, and as security for all the Obligations, Borrower hereby assigns to Lender as collateral and grants to Lender a continuing first priority pledge and security interest in the following property of Borrower (the "Collateral"), whether now owned or existing or hereafter acquired or arising and regardless of where it is located: (a) all Accounts, including without limitation those Accounts acquired by Borrower from Borrower's predecessor in interest; (b) the WSSP Loan Documents and the WSSP Note included therein and any and all other documents evidencing the right of payment from the WSSP Sellers, all of which are hereby assigned and pledged with the originals contemporaneously delivered from Borrower to Lender in connection with the signing of this Agreement; (c) all General Intangibles; provided however, Borrower shall assign and grant a continuing first priority pledge and security interest in any licenses and authorizations issued by the Federal Communications Commission (the "FCC"), only to the extent permitted by law and/or the proceeds of such licenses and authorizations; (d) all proceeds and products of Collateral and all additions and accessions to, replacements of, insurance or condemnation proceeds of, and documents covering Collateral, all tort or other claims against third parties arising out of damage or destruction of Collateral, all property received wholly or partly in trade or exchange for Collateral, all leases of Collateral and all rents, revenues, issues, profits and proceeds arising from the sale, lease, license, encumbrance, collection, or any other temporary or permanent disposition, of the Collateral or any interest therein; and (e) all instruments, documents, securities, money or other property, owned by Borrower or in which Borrower has an interest generated in connection with the WSSP Loan Documents by Borrower or acquired by Borrower from Borrower's predecessor in interest under the WSSP Loan Documents.
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Security Interest of Lender. 55 SECTION 12. MISCELLANEOUS..............................................56 12.1
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Related to Security Interest of Lender

  • Security Interest and Collateral To secure the payment and performance of the Obligations, Borrower hereby grants Lender a security interest (herein called the "Security Interest") in the following Collateral, whether now owned or hereafter acquired by Borrower and wherever located, and all products and proceeds thereof: (a) Crops, whether annual or perennial, whether grown, growing or to be grown, and whether harvested or unharvested, the products and proceeds thereof and stored grain (including all of the foregoing designated as inventory) and any negotiable or nonnegotiable documents, scale tickets and the like resulting from the storage thereof; also seed, fertilizer, chemicals, and other supplies used or produced by Borrower in farming operations; also accounts, contract rights (including proceeds from insurance policies covering the other Collateral), instruments, documents and general intangibles, whether now owned or hereafter acquired and wherever located; hedging and commodity accounts or agreements, now or hereafter or in effect, together with all rights in and to such accounts or agreements and all payments due or to become due thereunder. (b) Livestock (including livestock in gestation) and their young, products and proceeds and progeny thereof and produce thereof, including all livestock designated as inventory; also feed, medicines and other supplies used or produced by Borrower in farming operations; also accounts, contract rights (including proceeds from insurance policies covering the other Collateral), instruments, documents and general intangibles, whether now owned or hereafter acquired and wherever located; hedging and commodity accounts or agreements, now or hereafter or in effect, together with all rights in and to such accounts or agreements and all payments due or to become due thereunder. (c) All of Borrower’s equipment and machinery, and all accessions and attachments thereto and replacements and substitutions therefore (the Equipment). Borrower shall not remove any of the Collateral from locations disclosed in this Agreement, nor sell, convey or encumber said Collateral, provided, however, that Borrower may sell said Collateral or any part thereof if, and only if: (i) the proceeds of such sale are made payable jointly to Lender and Borrower if requested by ▇▇▇▇▇▇, it being specifically understood and agreed that all Obligations secured by the Collateral to the extent of the sale price shall be due and payable at the time of such sale; and (ii) Borrower sells the Collateral only to buyers listed on the Credit Application if required pursuant to the terms of Subsection 2(c) below.

  • Security Interest/Priority This Security Agreement creates a valid security interest in favor of the Agent, for the benefit of the Lenders, in the Collateral of such Obligor and, when properly perfected by filing, shall constitute a valid perfected security interest in such Collateral, to the extent such security can be perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens.

  • 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.

  • Collateral Account and Security Interest At any time when Fund’s assets are below $15 million, the Advisor, for value received, hereby pledges, assigns, sets over and grants to the Trust a continuing security interest in and to an account to be established and maintained by the Advisor with the Securities Intermediary and designated as a collateral account (the “Collateral Account”), including any replacement account established with any successor, together with all dividends, interest, stock-splits, distributions, profits and all cash and non-cash proceeds thereof and any and all other rights as may now or hereafter derive or accrue therefrom (collectively, the “Collateral”) to secure the payment of any required Fund Reimbursement Payment or Liquidation Expenses (as defined in Paragraph 5 of this Agreement). For so long as this Agreement is in effect, any transfers or conveyances of Collateral to any party shall require the approval of the Board of Trustees of the Trust (the “Board”), except as specified in Section 7(a)(ii) of this Agreement, below. In addition, the Trust will not issue entitlement orders, redeem or otherwise take any action with respect to the Collateral or Collateral Account unless a Collateral Event (defined below under Section 5 of this Agreement) has occurred or is continuing.

  • 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.