Security Interest Clause Example with 4 Variations from Business Contracts
This page contains Security Interest clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Security Interest. 13.1 Security Agreement. Pursuant to the terms of the Additional Security Agreement, the Issuer has granted a security interest to the Collateral Agent, for the benefit of the Lenders in certain of the Issuer's assets (the "Collateral") on the terms set forth in the Additional Security Agreement. The security interest will terminate upon repayment in full in cash of the Obligations. The Issuer represents and warrants to VML, VAHG and the Cyrus Parties that the Collateral Agent (subject to applic...able Uniform Commercial Code or federal law filing requirements) has a first-priority security interest in the Collateral, subject to the limitations set forth in the Additional Security Agreement, and except for the security interest granted to the Collateral Agent pursuant to the Security Agreements and the other Liens permitted to exist on the Collateral under the Security Agreements, the Issuer owns each item of the Collateral free and clear of any and all Liens or claims of others. The Issuer acknowledges that Lenders are specifically relying on the representation and warranty in this Section 13 and the representations and warranties in the Additional Security Agreement in making the purchases of Notes required under this Agreement. 13.2 Collateral Agent Appointment. The Lenders hereby irrevocably appoint the Collateral Agent to act as the agent of each Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by the Issuer under and in accordance with the terms of the Additional Security Agreement, together with such powers and discretion as are reasonably incidental thereto. The Collateral Agent for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Additional Security Agreement, or for exercising any rights and remedies thereunder in accordance with the terms thereof, shall be entitled to the benefits of Section 17.5, as set forth in full herein with respect thereto.View More
Variations of a "Security Interest" Clause from Business Contracts
Security Interest. 13.1 Security Agreement. Pursuant to the terms of the Additional Fourth Security Agreement, the Issuer has granted a security interest to the Collateral Agent, for the benefit of the Lenders in certain of the Issuer's assets (the "Collateral") on the terms set forth in the Additional Fourth Security Agreement. The security interest will terminate upon repayment in full in cash of the Obligations. The Issuer represents and warrants to VML, VAHG VML and the Cyrus Parties that the Collateral Agent ...(subject to applicable Uniform Commercial Code or federal law filing requirements) has a first-priority security interest in the Collateral, subject to the limitations set forth in the Additional Fourth Security Agreement, and except for the security interest granted to the Collateral Agent pursuant to the other Security Agreements and the other Liens permitted to exist on the Collateral under the Security Agreements, the Issuer owns each item of the Collateral free and clear of any and all Liens or claims of others. The Issuer acknowledges that Lenders are specifically relying on the representation and warranty in this Section 13 and the representations and warranties in the Additional Fourth Security Agreement in making the purchases of Notes required under this Agreement. 13.2 Collateral Agent Appointment. The Lenders hereby irrevocably appoint the Collateral Agent to act as the agent of each Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by the Issuer under and in accordance with the terms of the Additional Fourth Security Agreement, together with such powers and discretion as are reasonably incidental thereto. The Collateral Agent for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Additional Fourth Security Agreement, or for exercising any rights and remedies thereunder in accordance with the terms thereof, shall be entitled to the benefits of Section 17.5, as set forth in full herein with respect thereto. 11 14. Reserved. View More
Security Interest. 13.1 Security Agreement. Pursuant to the terms of the Additional Fifth Security Agreement, the Issuer has granted a security interest to the Collateral Agent, for the benefit of the Lenders in certain of the Issuer's assets (the "Collateral") on the terms set forth in the Additional Fifth Security 13 Agreement. The security interest will terminate upon repayment in full in cash of the Obligations. The Issuer represents and warrants to VML, VAHG VML and the Cyrus Parties that the Collateral Agent... (subject to applicable Uniform Commercial Code or federal law filing requirements) has a first-priority security interest in the Collateral, subject to the limitations set forth in the Additional Fifth Security Agreement, and except for the security interest granted to the Collateral Agent pursuant to the other Security Agreements and the other Liens permitted to exist on the Collateral under the Security Agreements, the Issuer owns each item of the Collateral free and clear of any and all Liens or claims of others. The Issuer acknowledges that Lenders are specifically relying on the representation and warranty in this Section 13 and the representations and warranties in the Additional Fifth Security Agreement in making the purchases of Notes required under this Agreement. 13.2 Collateral Agent Appointment. The Lenders hereby irrevocably appoint the Collateral Agent to act as the agent of each Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by the Issuer under and in accordance with the terms of the Additional Fifth Security Agreement, together with such powers and discretion as are reasonably incidental thereto. The Collateral Agent for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Additional Fifth Security Agreement, or for exercising any rights and remedies thereunder in accordance with the terms thereof, shall be entitled to the benefits of Section 17.5, as set forth in full herein with respect thereto. View More
Security Interest. 13.1 Security Agreement. Pursuant to the terms of the Additional Original Security Agreement, the Issuer has granted a security interest to the Collateral Agent, for the benefit of the Lenders in certain of the Issuer's assets (the "Collateral") on the terms set forth in the Additional Original Security Agreement. The security interest will terminate upon repayment in full in cash of the Obligations. Obligations (as defined in the Original Security Agreement). The Issuer represents and warrants ...to VML, VML and VAHG and the Cyrus Parties that the Collateral Agent (subject to applicable Uniform Commercial Code or federal law filing requirements) has a first-priority security interest in the Collateral, subject to the limitations set forth in the Additional Original Security Agreement, and except for the security interest granted to the Collateral Agent pursuant to the Security Agreements and the other Liens permitted to exist on the Collateral under the Security Agreements, the Issuer owns each item of the Collateral free and clear of any and all Liens or claims of others. The Issuer acknowledges that Lenders are specifically relying on the representation and warranty in this Section 13 and the representations and warranties in the Additional Original Security Agreement in making the purchases of Notes required under this Agreement. 13.2 Collateral Agent Appointment. The Lenders hereby irrevocably appoint the Collateral Agent to act as the agent of each Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by the Issuer under and in accordance with the terms of the Additional Original Security Agreement, together with such powers and discretion as are reasonably incidental thereto. The Collateral Agent for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Additional Original Security Agreement, or for exercising any rights and remedies thereunder in accordance with the terms thereof, shall be entitled to the benefits of Section 17.5, as set forth in full herein with respect thereto. View More
Security Interest. 13.1 Security Agreement. Pursuant to the terms of the Additional Third Security Agreement, the Issuer has granted a security interest to the Collateral Agent, for the benefit of the Lenders in certain of the Issuer's assets (the "Collateral") on the terms set forth in the Additional Third Security Agreement. The security interest will terminate upon repayment in full in cash of the Obligations. The Issuer represents and warrants to VML, VAHG and the Cyrus Parties that the Collateral Agent (subje...ct to applicable Uniform Commercial Code or federal law filing requirements) has a first-priority security interest in the Collateral, subject to the limitations set forth in the Additional Third Security Agreement, and except for the security interest granted to the Collateral Agent pursuant to the Security Agreements and the other Liens permitted to exist on the Collateral under the Security Agreements, the Issuer owns each item of the Collateral free and clear of any and all Liens or claims of others. The Issuer acknowledges that Lenders are specifically relying on the representation and warranty in this Section 13 and the representations and warranties in the Additional Third Security Agreement in making the purchases of Notes required under this Agreement. 13.2 Collateral Agent Appointment. The Lenders hereby irrevocably appoint the Collateral Agent to act as the agent of each Lender for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by the Issuer under and in accordance with the terms of the Additional Third Security Agreement, together with such powers and discretion as are reasonably incidental thereto. The Collateral Agent for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Additional Third Security Agreement, or for exercising any rights and remedies thereunder in accordance with the terms thereof, shall be entitled to the benefits of Section 17.5, as set forth in full herein with respect thereto. View More
