Security Interests in Personal Property Sample Clauses
The 'Security Interests in Personal Property' clause establishes a lender's or creditor's legal right to claim specific personal property of a borrower as collateral for a loan or obligation. In practice, this clause typically identifies which assets—such as equipment, inventory, or accounts receivable—are subject to the security interest and outlines the procedures for perfecting and enforcing that interest, often requiring the borrower to maintain the collateral and not dispose of it without consent. Its core function is to protect the lender by providing a means to recover losses if the borrower defaults, thereby reducing the lender's risk and encouraging the extension of credit.
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Security Interests in Personal Property. Section 4.01. Security Interest 4 Section 4.02. Representations and Warranties 5 Section 4.03. Covenants 6 Section 4.04. Other Actions 9 ARTICLE 5 Remedies Section 5.01. Remedies Upon Default 10 Section 5.02. Application of Proceeds 12 Section 5.03. Grant of License to Use Intellectual Property 12 ARTICLE 6 [Reserved]
Security Interests in Personal Property. Section 3.01 Security Interest 11 Section 3.02 Representations and Warranties 13 Section 3.03 Covenants 14
Security Interests in Personal Property. Administrative Agent shall have received evidence satisfactory to it that Company and Subsidiary Guarantors shall have taken or caused to be taken all such actions, executed and delivered or caused to be executed and delivered all such agreements, documents and instruments, and made or caused to be made all such filings and recordings (other than the filing or recording of items described in clauses (ii), (iii) and (iv) below) that may be necessary or, in the reasonable opinion of Administrative Agent, desirable in order to create in favor of Administrative Agent, for the benefit of Lenders, a valid and (upon such filing and recording) perfected First Priority security interest in the Collateral. Such actions shall include the following:
Security Interests in Personal Property. (a) As security for the payment or performance, as the case may be, in full of the Additional First-Lien Obligations, each Grantor hereby assigns and pledges to the Collateral Agent, its successors and permitted assigns, for the benefit of the Additional First-Lien Secured Parties, and hereby grants to the Collateral Agent, its successors and permitted assigns, for the benefit of the Additional First-Lien Secured Parties, a security interest (the “Security Interest”), in all right, title or interest in or to any and all of the following assets and properties now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest (but excluding any Excluded Collateral, collectively, the “Collateral”):
(i) all Accounts;
(ii) all Commercial Tort Claims;
(iii) all Chattel Paper;
(iv) all Documents;
(v) all Equipment;
(vi) all General Intangibles;
(vii) all Goods;
(viii) all Instruments;
(ix) all Inventory;
(x) all Investment Property;
(xi) all Intellectual Property;
(xii) all Letter-of-Credit Rights;
(xiii) all Pledged Collateral;
(xiv) all books and records pertaining to the Collateral;
(xv) all Supporting Obligations; and
(xvi) to the extent not otherwise included, all Proceeds and products of any and all of the foregoing and all collateral security and guarantees given by any person with respect to any of the foregoing. Notwithstanding the foregoing, Collateral shall include cash, cash equivalents and securities to the extent the same constitute Proceeds and products of any item set forth in clauses (i) through (xvi) above, but in no event shall any control agreements be required to be obtained in respect thereof.
(b) Each Grantor hereby authorizes the Collateral Agent at any time and from time to time to file in any relevant jurisdiction any financing statements (including fixture filings) with respect to the Collateral or any part thereof and amendments thereto that (i) indicate the Collateral as all assets of such Grantor or words of similar effect, and (ii) 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, including (x) whether such Grantor is an organization, the type of organization and any organizational identification number issued to such Grantor and (y) in the case of a financing statement filed as a fixture filing, a sufficient description of t...
Security Interests in Personal Property. Administrative Agent shall have received evidence satisfactory to it that the Loan Parties shall have taken or caused to be taken (or will have taken within applicable perfection periods) all such actions, executed and delivered or caused to be executed and delivered all such agreements, documents and instruments, made or caused to be made all such filings and made (or substantially concurrently with the Closing Date will make) any related payments of filing fees, taxes or similar expenditures that may be necessary or, in the opinion of Agents, desirable in order to create in favor of Collateral Agent, for the benefit of Lenders, and holders of the Other Lender Guarantied Obligations as of the Closing Date, a valid and (upon such filing and recording or other means of perfection) perfected First Priority security interest in substantially all present and after acquired personal property Collateral. Such actions shall include the following:
Security Interests in Personal Property. Administrative Agent shall have received evidence reasonably satisfactory to it that each Loan Party shall have taken or caused to be taken all such actions, executed and delivered or caused to be executed and delivered all such agreements, documents and instruments, and delivered all of the following filings and recordings that may be necessary or, in the reasonable opinion of Administrative Agent, desirable in order to create in favor of Administrative Agent, for the benefit of ▇▇▇▇▇▇▇, a valid and (upon such filing and recording) perfected security interest in the entire personal property Collateral in accordance with the terms of the Collateral Documents. Such actions shall include the following:
(i) Stock Certificates and Instruments Delivery to Administrative Agent of (A) certificates (which certificates shall be accompanied by irrevocable undated stock powers, duly endorsed in blank and otherwise in form and substance reasonably satisfactory to Administrative Agent) representing all Capital Stock pledged pursuant to the Pledge and Security Agreement (B) all promissory notes or other instruments (duly endorsed, where appropriate, in a manner reasonably satisfactory to Administrative Agent) evidencing any Collateral;
Security Interests in Personal Property. Administrative Agent shall have received evidence satisfactory to it that Borrower and Subsidiary Guarantors shall have taken or caused to be taken all such actions, executed and delivered or caused to be executed and delivered all such agreements, documents and instruments, and made or caused to be made all such filings and recordings (other than the filing or recording of items described in clause (ii) below) that may be necessary or, in the opinion of Administrative Agent, desirable in order to create in favor of Administrative Agent, for the benefit of Lenders, a valid and (upon such filing and recording) perfected First Priority security interest in the Collateral. Such actions shall include the following:
Security Interests in Personal Property. Administrative Agent shall have received evidence satisfactory to it that the Loan Parties shall have taken or caused to be taken all such actions, executed and delivered or caused to be executed and delivered all such agreements, documents and instruments, and made or caused to be made all such filings that may be necessary or, in the opinion of Agents, desirable in order to continue in favor of Collateral Agent, for the benefit of Lenders, and holders of the Other Lender Guarantied Obligations and certain other parties, a valid and (upon such filing and recording or other means of perfection) perfected First Priority security interest in substantially all personal property Collateral under the Domestic Collateral Documents. Such actions shall include the following:
Security Interests in Personal Property. Agents shall have received evidence satisfactory to it that Holdings, Company and Subsidiary Guarantors shall have taken or caused to be taken all such actions, executed and delivered or caused to be executed and delivered all such agreements, documents and instruments, and made or caused to be made all such filings and recordings (other than the filing or recording of items described in clauses (iii) and (iv) below) that may be necessary or, in the opinion of Agents, desirable in order to create in favor of Administrative Agent, for the benefit of Lenders, a valid and (upon such filing and recording) perfected First Priority security interest in the entire personal property Collateral. Such actions shall include, without limitation, the following:
Security Interests in Personal Property. SECTION 4.01. Security Interest 15 SECTION 4.02. Representations, Warranties and Covenants 17 SECTION 4.03. Covenants 20 SECTION 4.04. Other Actions 22 SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral 23 SECTION 5.01. Remedies Upon Default 25 SECTION 5.02. Application of Proceeds 27 SECTION 5.03. Grant of License to Use Intellectual Property 28 SECTION 5.04. Securities Act 28 SECTION 5.05. Registration 29 SECTION 6.01. Indemnity and Subrogation 30 SECTION 6.02. Contribution and Subrogation 30 SECTION 6.03. Subordination 30 SECTION 6.04. General Limitation on Obligations 31