Common use of Rights to Payment Clause in Contracts

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 8 contracts

Samples: Amended and Restated (Cherokee Inc), Security Agreement (Cherokee Inc), Security Agreement (Pacific Cma Inc)

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Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 5 contracts

Samples: Security Agreement (Misonix Inc), Security Agreement (Allis Chalmers Corp), Security Agreement (Interpharm Holdings Inc)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing the Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 3 contracts

Samples: Security Agreement (Standard Gold), Security Agreement (Wits Basin Precious Minerals Inc), Security Agreement (Wits Basin Precious Minerals Inc)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyXxxxx Fargo) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 3 contracts

Samples: Security Agreement (Physicians Formula Holdings, Inc.), Security Agreement (Physicians Formula Holdings, Inc.), Security Agreement (Physicians Formula Holdings, Inc.)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s Corporate Guarantor's records pertaining thereto as being obligated to pay such obligation. The Debtor Corporate Guarantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 3 contracts

Samples: Security Agreement (Metretek Technologies Inc), Security Agreement (Metretek Technologies Inc), Security Agreement (Metretek Technologies Inc)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyHolder Representative) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorGrantor’s records pertaining thereto as being obligated to pay such obligation. The Debtor Grantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 2 contracts

Samples: Senior Subordinated Note Purchase and Security Agreement (Physicians Formula Holdings, Inc.), Guarantor Security Agreement (Physicians Formula Holdings, Inc.)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing the Collateral is (or will be when arising, issued or assigned to the Secured PartyParties) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorGrantor’s records pertaining thereto as being obligated to pay such obligation. The Debtor Grantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 2 contracts

Samples: Security Agreement (Vendingdata Corp), Security Agreement (Vendingdata Corp)

Rights to Payment. Each right to payment and each instrumentInstrument, documentDocument, chattel paper Chattel Paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor Guarantor or other obligor named therein or in the Debtor’s Guarantor's records pertaining thereto as being obligated to pay such obligation. The Debtor Guarantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will nor not subordinate any such right to payment to claims of other creditors of such account debtor Guarantor or other obligor.

Appears in 2 contracts

Samples: Guaranty Security Agreement (Vado Corp.), Guaranty Security Agreement (Vado Corp.)

Rights to Payment. Each right to payment and each instrumentInstrument, documentDocument, chattel paper Chattel Paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will nor not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Security Agreement (AMERI Holdings, Inc.)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyLender) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorGuarantor’s records pertaining thereto as being obligated to pay such obligation. The Debtor Guarantor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Guarantor Security Agreement (LIVE VENTURES Inc)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyCollateral Agent) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorBorrower’s records pertaining thereto as being obligated to pay such obligation. The Debtor Borrower will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Security Agreement (Familymeds Group, Inc.)

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Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued arising or assigned to the Secured Partyissued) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither not agree to any material modification or amendment nor of, or agree to any forbearance, release or cancellation of of, any such obligationobligation without the Secured Party's prior written consent, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Security Agreement (Nationwide Electric Inc)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyLender) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the DebtorBorrower’s records pertaining thereto as being obligated to pay such obligation. The Debtor Other than in the ordinary course of business, Borrower will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Security Agreement (MBI Financial, Inc.)

Rights to Payment. Each right to payment and each instrumentInstrument, documentDocument, chattel paper Chattel Paper and other agreement constituting or evidencing Collateral of the Company is (or will be when arising, issued or assigned to the Secured PartyParties) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s Company's records pertaining thereto as being obligated to pay such obligation. The Debtor Company will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Purchase Agreement (Eagle Broadband Inc)

Rights to Payment. Each To the Debtor's Knowledge, each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued or assigned to the Secured PartyAgent) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Security Agreement (Newkirk Master Lp)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued arising or assigned to the Secured Partyissued) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither not, other than in the ordinary course of business, agree to any material modification or amendment nor agree amendment, or to any forbearance, release or cancellation cancellation, of any such obligationobligation without the Secured Party's prior written consent, and the Debtor will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.. (j)

Appears in 1 contract

Samples: Term Credit Agreement (Sa Telecommunications Inc /De/)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing Collateral is (or will be when arising, issued arising or assigned to the Secured Partyissued) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s 's records pertaining thereto as being obligated to pay such obligation. The Debtor will neither not, other than in the ordinary course of business, agree to any material modification or amendment nor agree amendment, or to any forbearance, release or cancellation cancellation, of any such obligationobligation without the Secured Party's prior written consent, and the Debtor will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Term Credit Agreement (Sa Telecommunications Inc /De/)

Rights to Payment. Each right to payment and each instrument, document, chattel paper and other agreement constituting or evidencing the Collateral is (or will be when arising, issued or assigned to the Secured Party) the valid, genuine and legally enforceable obligation, subject to no defense, setoff or counterclaim (other than those arising in the ordinary course of business), of the account debtor or other obligor named therein or in the Debtor’s records pertaining thereto as being obligated to pay such obligation. The Debtor will neither agree to any material modification or amendment nor agree to any forbearance, release or cancellation of any such obligation, and will not subordinate any such right to payment to claims of other creditors of such account debtor or other obligor.

Appears in 1 contract

Samples: Security Agreement (Location Based Technologies, Inc.)

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