Grant of Security Interest Contract Clauses (532)

Grant of Security Interest. Each Grantor grants and transfers to Lender, for the benefit of Lender and each Bank Product Provider, a continuing security interest (the "Security Interest") in all of the following property of each Grantor or in which each Grantor has rights, whether presently existing or acquired after the date of this Agreement (collectively, together with all Proceeds, the "Collateral"): (a)Accounts; (b)Chattel Paper; (c)Commercial Tort Claims; (d)Deposit Accounts, Securities Accounts and Commodities Accou...nts; (e)Documents; (f)General Intangibles; (g)Goods, including Equipment and Fixtures; (h)Instruments; (i)Inventory; (j)Investment Property; (k)Letters of Credit and Letter-of-Credit Rights; (l)Money and other assets of each Grantor; (m)all Accessions and Supporting Obligations; and all books and records relating to the above property and all proceeds (as such term is defined in the Code) and products, whether tangible or intangible of any of the above property, all proceeds of any condemnation award relating to any of the above property, all proceeds of insurance covering or relating to any or all of the above property and all rebates and returns relating to any of the above property (all such proceeds, collectively, "Proceeds"). View More

Grant of Security Interest. As security for prompt and complete payment of the Note, made by Pledgor in favor of Recipient (the "Note"), Pledgor does hereby pledge, collaterally assign and grant to the Recipient, its successors and assigns, a continuing security interest in all of its right, title or interest in, to or under all of the following assets, regardless of where located (collectively, the "IP Collateral"): (a) Patents of the Pledgor listed on Schedule I attached hereto; and (b) all proceeds of any and all of the... foregoing. SECTION 2. Termination. Upon the payment or conversion in full of the Note, the Recipient shall promptly execute, acknowledge, and deliver to the Pledgor an instrument or instruments (in recordable form, if necessary) releasing the collateral pledge, grant, assignment, lien and security interest in the IP Collateral. SECTION 3. Counterparts. This Security Agreement may be executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Security Agreement by signing and delivering one or more counterparts. SECTION 6. Governing Law. This Security Agreement and the transactions contemplated hereby, and all disputes between the parties under or relating to this Security Agreement or the facts or circumstances leading to its execution, whether in contract, tort or otherwise, shall be construed in accordance with and governed by the laws (including statutes of limitation) of the State of Florida, without regard to conflicts of law principles that would require the application of the laws of another jurisdiction. View More

Grant of Security Interest. As an inducement for the Secured Parties to lend under their respective Notes and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the Obligations, the Company hereby, unconditionally and irrevocably, pledges, grants and hypothecates to the Secured Parties, a continuing security interest in, a continuing first lien upon, an unqualified right to possession and disposition of and a right of set-off against, in each case to the fullest exte...nt permitted by law, all of the Company's right, title and interest of whatsoever kind and nature in and to the Collateral (the "Security Interest"); provided, however, the Secured Parties have agreed that the Security Interest granted pursuant to this Section 2 shall be subordinate to the Permitted Liens. View More