Common use of Security Agreement Clause in Contracts

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 11 contracts

Samples: Mortgage and Security Agreement (Glimcher Realty Trust), Trust and Security Agreement (Glimcher Realty Trust), Mortgage and Security Agreement (Glimcher Realty Trust)

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Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 9 contracts

Samples: Ashford Hospitality Trust Inc, Mortgage, Security Agreement (Ashford Hospitality Trust Inc), Agreement of Consolidation and Modification (Morgans Hotel Group Co.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall from time to time require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 6 contracts

Samples: Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor's’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Samples: Security Agreement (Inland Real Estate Income Trust, Inc.), Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.), Security Agreement and Fixture Filing (Inland Real Estate Income Trust, Inc.)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" ", within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower hereby grants Mortgage has granted to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the FixturesMortgaged Property, the Equipment and the Personal Property to the full extent that the Fixturesincluding, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). without limitation, FF&E. If an Event of Default shall occur and be continuingoccur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, demand any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral FF&E or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower FF&E. Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, expenses (including reasonable legal expenses and attorneys' fees, ) actually incurred or paid by Lender Mortgagee in protecting its interest in the Collateral FF&E and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. FF&E. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral FF&E sent to Borrower Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerMortgagor (except in the case of FF&E which is perishable or is of a type customarily sold on a recognized market, in which case such seven (7) business days' notice shall not be required), and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by Mortgagor within five (5) days after receipt by Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralFF&E, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such order, priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Brandywine Realty Trust), Credit Agreement (Brandywine Realty Trust), Brandywine Realty Trust

Security Agreement. This Security Instrument is both The Company’s obligations to the Holders under this Note are secured by a real property deed of trust lien on and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment certain assets of Group and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code Operating (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting limitation, the generality equipment acquired with the proceeds of this Note), all as more particularly described in that certain Security Agreement dated of even date herewith made by each of Group and Operating for the benefit of the foregoingHolders (the “Security Agreement”). Each Holder of any Notes, by its acceptance thereof, consents and agrees to the right to take possession terms of the Security Agreement as the same may be in effect from time to time in accordance with its terms and directs EarthLink (or its assignee), as collateral agent (the “Collateral or any part thereofAgent”), to enter into the Security Agreement and to take such other measures as Lender may deem necessary for the care, protection perform its obligations and preservation exercise its rights thereunder in accordance therewith. The Collateral Agent shall have all of the Collateralpowers and duties of the Secured Party (as defined in the Security Agreement) under the Security Agreement and shall exercise such powers and duties on its own behalf and on behalf of the other Holders. Upon request or demand of Lender after the occurrence It is expressly understood and during the continuance of an Event of Default, Borrower shall, at its expense, assemble agreed that no Holder other than the Collateral and make it available to Lender at a convenient place (at Agent shall have any rights or duties under the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expensesSecurity Agreement except as provided in this Section 7; provided, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in however that the Collateral and in enforcing its rights hereunder Agent shall take any action with respect to the Security Agreement as is directed in writing by a majority of the Holders of outstanding aggregate principal amount of the Notes. In no event shall the Collateral after Agent be liable to any other Holder for any action taken, or for the occurrence and during failure to take any action, as the continuance Collateral Agent, except for such actions or inactions constituting gross negligence or willful misconduct. If at any time EarthLink ceases to hold the greatest percentage of an Event the outstanding aggregate principal amount of Default. Any notice the Notes, then EarthLink (or any assignee), with the prior written consent of salethe Company, disposition or other intended action by Lender with respect not to be unreasonably withheld, shall be entitled, but shall not be required, to assign its rights to act as Collateral Agent to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition Holder of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment greatest percentage of the Debt in outstanding aggregate principal amount of the Notes. Such assignment shall be effective upon acceptance by such priority Holder and proportions as Lender in its discretion such Holder shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof become the “Collateral Agent” for all purposes under this Note and the address of Lender (Secured Party) is as set forth on page one hereofSecurity Agreement.

Appears in 3 contracts

Samples: Purchase Agreement (Covad Communications Group Inc), Earthlink Inc, Covad Communications Group Inc

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and costs, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Samples: Security Agreement (Lodging Fund REIT III, Inc.), Rents and Security Agreement (Lodging Fund REIT III, Inc.), Horizon Group Properties Inc

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security Instrument, Borrower Mortgagor hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, or shall cause ESBC to, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Mortgagor (Debtor) is as set forth on page one hereof and the address of Lender Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Samples: And Rents and Security Agreement (Empire State Building Associates L.L.C.), And Rents and Security Agreement (Empire State Realty Trust, Inc.), And Rents and Security Agreement (Empire State Realty Trust, Inc.)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower's organizational ID no. is _________.

Appears in 3 contracts

Samples: Trust and Security Agreement (Behringer Harvard Reit I Inc), Trust and Security Agreement (Behringer Harvard Reit I Inc), Trust and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Samples: Security Agreement (Glimcher Realty Trust), Rents and Security Agreement (Glimcher Realty Trust), Security Agreement (Glimcher Realty Trust)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security Instrument, Borrower Mortgagor hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Mortgagor (Debtor) is as set forth on page one hereof and the address of Lender Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 3 contracts

Samples: Leases and Rents and Security Agreement (KBS Real Estate Investment Trust, Inc.), Rents and Security Agreement (KBS Real Estate Investment Trust, Inc.), Rents and Security Agreement (KBS Real Estate Investment Trust, Inc.)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby Grantor has granted and thereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said such portion of the Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERAL"“Collateral”). Grantor hereby agrees with Beneficiary to execute and deliver to Beneficiary, in form and substance satisfactory to Beneficiary, such financing statements and such further assurances as Beneficiary may from time to time reasonably consider necessary to create, perfect or preserve Beneficiary’s security interest therein granted. This Deed of Trust shall also be effective as a financing statement covering any other property and may be filed in any other appropriate filing or recording office. This Deed of Trust shall also constitute a “fixture filing” for the purposes of the Uniform Commercial Code. All or part of the Property are or are to become fixtures. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, Code including, without limiting the generality of the foregoinglimitation, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Grantor shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (Beneficiary at the Land if tangible property) reasonably acceptable to LenderLand. Borrower shall pay to Lender Beneficiary on demand any and all expenses, including Beneficiary’s reasonable legal expenses and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided shall constitute commercially reasonable notice to Grantor. To the extent permitted by applicable law, constitute reasonable notice to Borrower. The the proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place In the event of business is any change in name, identity or structure of any entity comprising Grantor, such Grantor shall notify Beneficiary thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as set forth on page one hereof are necessary to maintain the priority of Beneficiary’s lien upon and security interest in the address of Lender (Secured Party) is as set forth on page one hereof.Collateral, and shall pay all expenses and fees in connection with the filing and recording

Appears in 3 contracts

Samples: Substitute Management Agreement (Innkeepers Usa Trust/Fl), Security Agreement (Innkeepers Usa Trust/Fl), Substitute Management Agreement (Innkeepers Usa Trust/Fl)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 2 contracts

Samples: Security Agreement (Koger Equity Inc), Record And (FelCor Lodging Trust Inc)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" ,” within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. By The Mortgagor by executing and delivering this Security Instrument, Borrower hereby grants Mortgage has granted to Lenderthe Mortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the FixturesEquipment. If the Mortgagor shall default under the Note or this Mortgage, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Equipment or any part thereof, and to take such other measures as Lender the Mortgagee may deem necessary for the care, protection and preservation of the CollateralEquipment. Upon request or demand of Lender after the occurrence and during Mortgagee, the continuance of an Event of Default, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral Equipment and make it available to Lender the Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Mortgagee. Borrower The Mortgagor shall pay to Lender the Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Mortgagee in protecting its interest in the Collateral Equipment and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultEquipment. Any notice of sale, disposition or other intended action by Lender the Mortgagee with respect to the Collateral Equipment sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Mortgagor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Mortgagor within five (5) days after receipt by the Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralEquipment, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Mortgagee to the payment of the Debt in such order, priority and proportions as Lender the Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place If any change shall occur in the Mortgagor’s name, the Mortgagor shall promptly cause to be filed at its own expense, new financing statements as required under the Uniform Commercial Code to replace those on file in favor of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofMortgagee.

Appears in 2 contracts

Samples: Mortgage, Security Agreement, Mortgage, Security Agreement

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall from time to time require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing, Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.)

Security Agreement. This Security Instrument is both To the extent the Mortgaged Property consists of UCC Collateral or items of personal property which are Fixtures under applicable Laws, this Mortgage shall also be construed as a real property deed of trust security agreement under the UCC. The Mortgagor, in order to secure the due and a "security agreement" within the meaning punctual payment and performance of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interestsObligations, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security Mortgagee for its benefit and for the Obligations (hereinafter defined)benefit of the Secured Parties, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment such UCC Collateral and the Personal Property may be subject to the Uniform Commercial Code Fixtures (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"excluding therefrom Excluded Property). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shallthe Mortgagee shall be entitled with respect to the UCC Collateral and Fixtures, to exercise all remedies hereunder or any other Loan Document or available under the UCC with respect thereto and all other remedies available under applicable law. Without limiting the foregoing, the UCC Collateral and Fixtures, may, at its expensethe Mortgagee’s option, (i) be sold hereunder together with any sale of any portion of the Mortgaged Property or otherwise, (ii) be sold separately pursuant to the UCC, or (iii) be dealt with by the Mortgagee in any other manner permitted under applicable Laws. The Mortgagee may require the Mortgagor to assemble the UCC Collateral and Fixtures, and make it available to Lender the Mortgagee at a convenient place (at to be designated by the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower shall pay to Lender on demand any The Mortgagor acknowledges and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance agrees that a disposition of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower such collateral in accordance with the provisions hereof at least Mortgagee’s rights and remedies in respect to the Mortgaged Property as heretofore provided is a commercially reasonable disposition thereof; provided, however, that the Mortgagee shall give the Mortgagor prior notice of the time and place of any intended disposition not less than the greater of (x) such notice as may be required by any other Loan Document, (y) applicable Laws or (z) ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofdays.

Appears in 2 contracts

Samples: Credit Agreement (Valvoline Inc), Credit Agreement (Ashland Inc.)

Security Agreement. 2.12.1 This Security Instrument is both Deed of Trust shall also be a real property deed of trust security agreement between Trustor and a "security agreement" within the meaning Beneficiary covering that portion of the Mortgaged Property that constitutes personal property or fixtures (hereinafter collectively called “UCC Collateral”) governed by the Nevada Uniform Commercial Code. The Property includes both real Code (the “UCC”), and personal property as further security for the payment and all other rights and interestsperformance of the Secured Obligations, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower Trustor hereby grants to Lender, as security for the Obligations (hereinafter defined), Beneficiary a security interest in such portion of the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code UCC. In addition to Beneficiary’s other rights hereunder, Beneficiary shall have all rights of a secured party under the UCC. Trustor hereby authorizes the filing of all financing statements and such further assurances that may be reasonably required by Beneficiary to establish, create, perfect (said portion to the extent the same can be achieved by the filing of a financing statement) and maintain the validity and priority of Beneficiary’s security interests, and Trustor shall bear all reasonable costs thereof, including all UCC searches. Except as otherwise provided in the Credit Documents, if Beneficiary should dispose of any of the Mortgaged Property so subject comprising the UCC Collateral pursuant to the Uniform Commercial Code being called UCC, ten (10) Days’ prior written notice by Beneficiary to Trustor shall be deemed to be reasonable notice; provided, however, Beneficiary may dispose of such property in accordance with the "COLLATERAL")foreclosure procedures of this Deed of Trust in lieu of proceeding under the UCC. If Beneficiary may from time to time execute, deliver and/or file at Trustor’s expense, all continuation statements, termination statements, amendments, partial releases, or other instruments relating to all financing statements by and between Trustor and Beneficiary. Except as otherwise provided in the Credit Documents, if an Event of Default shall occur and be is continuing, Lender(a) Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demanddemand to the extent permitted by Governmental Rule, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, UCC including, without limiting the generality of the foregoing, the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon such UCC Collateral and (b) upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the UCC Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' fees, disbursements incurred or paid by Lender Beneficiary in protecting its the interest in the UCC Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the UCC Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Samples: Security Agreement (Fulcrum Bioenergy Inc), Security Agreement (Fulcrum Bioenergy Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Xxxxxx in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff's sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Samples: U Haul International Inc, U Haul International Inc

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called in this paragraph 29 the "COLLATERALCollateral"). If an Event of Default shall occur occur, Lender and be continuing, LenderTrustee, in addition to any other rights and remedies which it they may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Defaultor Trustee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender and Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender and Trustee on demand any and all reasonable expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Xxxxxx and Trustee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender or Trustee with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerBorrower unless otherwise required by law. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Samples: Trust and Security Agreement (Investors First Staged Equity L P), Record And (Investors First Staged Equity L P)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower District hereby grants to Lender, as security for the Obligations (hereinafter defined), State a continuing security interest in all of the Fixturesfollowing described real [and/or personal] property of the District, whether now or hereafter acquired (collectively herein the Equipment and the Personal Property “Collateral”) to the full extent that the Fixtures, the Equipment and the Personal Property may secure its payment obligations under this Agreement. The Collateral shall immediately be subject to the Uniform Commercial Code (said portion lien of the Property so subject security interest granted in this Agreement without physical delivery or further act, and the lien shall be superior to all other claims and liens whatsoever, to the Uniform Commercial Code being called fullest extent permitted by ORS 287A.310. The District hereby represents and warrants that the "COLLATERAL"grant of a security interest and lien in the Collateral hereby made by the District complies with, and shall be valid and binding from the date of this Agreement pursuant to, ORS 287A.310. The Collateral is owned by the District, and shall remain, free and clear of liens, encumbrances and leasehold interests, except as set forth in the schedule(s) attached to this Agreement (the “Permitted Liens”). If [Describe property here or in an Event attached Exhibit that may include a form of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of Trust Deed] The District will defend the Collateral or against the claims and demands of all other persons at any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of time claiming any interest in the Collateral. Upon request The District will not sell, exchange, lease, remove or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition dispose of the Collateral, or any part thereof, mayother than in the normal course of business, except as otherwise required by applicable lawor grant any other security interest therein, or suffer or permit any lien, levy or attachment thereon or security interest therein or financing statement to be applied by Lender filed with reference thereto. District will keep the Collateral in good repair and condition. District will not commit or permit waste to the Collateral and will not do any act or thing which would impair or decrease the value of the Collateral. At its own expense, the District will keep the Collateral insured against loss by fire and such other hazards, casualties and contingencies as may be required from time to time by the State. [Include a revenue pledge – The District hereby pledges its full faith and credit and grants a continuing security interest to payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof Advance, the Interest and the address State’s Costs in any and all revenues held or received by the District that are lawfully available for such purpose, including but not limited to amounts received from the State pursuant to [insert discrete source of Lender contract or other non-tax revenue] (Secured Party) is as set forth on page one hereofthe “Pledged Revenues”). The Pledged Revenues so pledged and hereafter received by the District shall immediately be subject to the lien of such pledge without physical delivery or further act, and the lien of the pledge shall be superior to all other claims and liens whatsoever, to the fullest extent permitted by ORS 287A.310. The District hereby represents and warrants that the pledge of Pledged Revenues hereby made by the Borrower complies with, and shall be valid and binding from the date of this Agreement pursuant to, ORS 287A.310.

Appears in 2 contracts

Samples: School Bond Guaranty Repayment Agreement, School Bond Guaranty Repayment Agreement

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property, and Borrower hereby grants to Lender a security interest in all portions of the Property constituting personal property or fixtures under the UCC. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Samples: Deed Of (Lightstone Value Plus Real Estate Investment Trust, Inc.), Lightstone Value Plus Real Estate Investment Trust, Inc.

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), Mortgage shall constitute a security interest agreement as defined in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion “Code”) in the items described in the Granting Clauses of this Mortgage (“Collateral”). Any Collateral installed in or used in the Premises are to be used by the Borrower solely for Borrower’s business purposes or as the equipment and fixtures leased or furnished by the Borrower, as landlord, to tenants of the Property so subject Premises and such Collateral will be kept at the buildings on the Premises and will not be removed therefrom without the consent of the Lender and may be affixed to such buildings but will not be affixed to any other real estate. The remedies of the Lender hereunder are cumulative and separate, and the exercise of any one or more of the remedies provided for herein or under the Uniform Commercial Code being called shall not be construed as a waiver of any of the "COLLATERAL")other rights of the Lender including having any Collateral deemed part of the realty upon any foreclosure thereof. If an Event of Default shall occur and be continuing, Lender, in addition notice to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession intended disposition of the Collateral or any part thereofis required by law in a particular instance, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land notice shall be deemed commercially reasonable if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof given at least ten (10) business days prior to such action, shall, except intended disposition and may be given by advertisement in a newspaper accepted for legal publications either separately or as otherwise provided part of a notice given to foreclose the real property or may be given by applicable law, constitute reasonable private notice if such parties are known to BorrowerLender. The proceeds Neither the grant of any disposition a security interest pursuant to this Mortgage nor the filing of a financing statement pursuant to the Code shall ever impair the stated intention of this Mortgage that all Collateral comprising the Premises and at all times and for all purposes and in all proceedings both legal or equitable shall be regarded as part of the Collateral, real property conveyed and secured hereunder irrespective of whether such item is physically attached to the real property or any part thereof, may, except as otherwise such item is referred to or reflected in a financing statement. Borrower will on demand deliver all financing statements that may from time to time be required by applicable law, be applied by Lender to establish, perfect and continue the payment priority of Lender’s security interest in the Debt in such priority Collateral and proportions as shall pay all expenses incurred by Lender in its discretion connection with the renewal or extensions of any financing statements executed in connection with the Premises; and shall deem proper. give advance written notice of any proposed change in Borrower's (Debtor's) principal place ’s name, identity or structure and will execute and deliver to Lender prior to or concurrently with such change all additional financing statements that Lender may require to establish and perfect the priority of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofLender’s security interest.

Appears in 2 contracts

Samples: Security Agreement (Great Plains Ethanol LLC), Future Advance Mortgage and Security Agreement (Great Plains Ethanol LLC)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Xxxxxx in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall from time to time require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (TNP Strategic Retail Trust, Inc.), Fidelity National Title Agency (TNP Strategic Retail Trust, Inc.)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this paragraph 29 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all reasonable expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerMortgagor unless otherwise required by law. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Samples: First Mortgage and Security Agreement (Century Properties Fund Xii), First Mortgage and Security Agreement (Century Properties Fund Xvi)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower shall promptly notify Lender of the existence of any commercial tort claim now or hereafter existing for the benefit of Borrower or the Property, and shall execute, acknowledge and deliver a security agreement or other documentation as Lender shall from time to time require to acquire and perfect a valid and binding security interest in such commercial tort claim.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Moody National REIT II, Inc.), Security Agreement and Fixture Filing (Moody National REIT II, Inc.)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur occur, and shall be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence following and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Samples: Morgans Hotel Group Co., Morgans Hotel Group Co.

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Trust Property. By Trustor by executing and delivering this Security Instrument, Borrower Deed of Trust has granted and hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code UCC (said such portion of the Trust Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"“Collateral”). The foregoing sentence is intended to grant in favor of Beneficiary a first priority continuing lien and security interest in all of Trustor's assets. Trustor authorizes Beneficiary and its counsel to file UCC financing statements in form and substance satisfactory to Beneficiary, describing the collateral as "all assets of Trustor, whether now owned or existing or hereafter acquired or arising and wheresoever located, and all proceeds and products thereof, including, without limitation, all fixtures on the Premises" or words to that effect, and any limitations on such collateral description, notwithstanding that such collateral description may be broader in scope than the Collateral described in this Deed of Trust. This Deed of Trust shall also constitute a "fixture filing" for the purposes of the UCC. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral Collateral, sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary's (Debtor's) principal place lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of business is additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as set forth Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney in fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the address Collateral covered by this Deed of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 2 contracts

Samples: Rents and Security Agreement (GK Investment Holdings, LLC), Preferred Income Ii (GK Investment Property Holdings II LLC)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower Trustor hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Beneficiary after the occurrence and during the continuance of an Event of Default, Borrower Trustor shall, at its expense, assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feescosts, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable lawlaw or the Loan Agreement, constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Trustor (Debtor) is as set forth on page one hereof and the address of Lender Beneficiary (Secured Party) is as set forth on page one hereof. Trustor hereby authorizes Beneficiary to file or record any Uniform Commercial Code financing statements as Beneficiary deems to be reasonably necessary to perfect its security interest in the property described in this Section 1.03, and in the fixtures described in Section 1.04, without any signature of Trustor, and to file any amendments, modifications, assignments and terminations thereof, all without the signature of Trustor.

Appears in 2 contracts

Samples: Security Agreement (Terra Tech Corp.), Security Agreement (Terra Tech Corp.)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called in this section the "COLLATERAL"“Collateral”). Borrower hereby agrees with Lender to execute and deliver to Lender, in form and substance satisfactory to Lender, such financing statements and such further assurances as Lender may from time to time reasonably consider necessary to create, perfect, and preserve Lender’s security interest herein granted. This Mortgage shall also constitute a “fixture filing”, with Borrower as debtor and Lender as secured party, for the purposes of the Uniform Commercial Code. All or part of the Property is or is to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Mortgage. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, thereof and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, action shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. In the event of any change in name, identity or structure of Borrower's (Debtor's) principal place , Borrower shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of business is Lender’s lien upon and security interest in the Collateral and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as set forth on page one hereof Lender shall deem reasonably necessary and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Note, this Mortgage and the address of other Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Lender, as Borrower’s attorney-in-fact, in connection with the Collateral covered by this Mortgage. Notwithstanding the foregoing, Borrower shall appear and defend in any action or proceeding which affects or purports to affect the Property and any interest or right therein, whether such proceeding affects title or any other rights in the Property (Secured Party) and in conjunction therewith, Borrower shall fully cooperate with Lender in the event Lender is as set forth on page one hereofa party to such action or proceeding).

Appears in 2 contracts

Samples: Trust and Security Agreement (Infousa Inc), And Security Agreement (Infousa Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By Mortgagor by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called referred to in this Paragraph as the "COLLATERALCollateral"). This Security Instrument shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in Section 13.1. If an Event of Default shall occur and be continuingoccur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise exercise, immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, including the right to take possession of the Collateral or any part thereof, thereof and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the CollateralCollateral or the sale thereof. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerCollateral. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its sole discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of Mortgagor, Mortgagor shall notify Mortgagee thereof and promptly after request shall execute (if required), file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Mortgagee's lien upon and security interest in the Collateral and shall pay all out-of-pocket expenses and fees in connection with the filing and recording thereof. If Mortgagee shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Mortgagor shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Mortgagee shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof. Mortgagor hereby irrevocably appoints Mortgagee as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on Xxxxxxxxx's behalf any financing or other statements signed only by Mortgagee, as secured party, in connection with the Collateral covered by this Security Instrument, and Xxxxxxxxx hereby acknowledges and agrees that Mortgagor shall have no claim or cause of action against Mortgagee arising out of Mortgagee's execution and/or recordation of any instruments by or on behalf of Xxxxxxxxx pursuant to the foregoing power of attorney. Any notice of sale, disposition or other intended action by Mortgagee with respect to the Collateral sent to Mortgagor in accordance with Section 13.1 at least ten (Debtor's10) principal place days prior to such action, shall constitute commercially reasonable notice to Mortgagor. In addition to the foregoing, Xxxxxxxxx hereby expressly authorizes and agrees with Mortgagee that Mortgagee shall have full right and authority to prepare and record and/or file, without the necessity of business is a signature by Xxxxxxxxx, in form, scope and substance satisfactory to Mortgagee, any and all financing statements, fixture financing statements, and any and all renewals or extensions of said financing statements and such additional financing statements as set forth on page one hereof Mortgagee may, from time to time, consider necessary to perfect and the address of Lender (Secured Party) is preserve Mortgagee's security interest herein granted and Mortgagee may cause such statements and assurances to be recorded and filed at such times and places as set forth on page one hereofmay be required or permitted by law to so perfect and preserve such security interests.

Appears in 2 contracts

Samples: Lightstone Value Plus Real Estate Investment Trust, Inc., Lightstone Value Plus Real Estate Investment Trust, Inc.

Security Agreement. (a) This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Trust Property. By Trustor by executing and delivering this Security Instrument, Borrower Deed of Trust has granted and hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code UCC (said such portion of the Trust Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the UCC. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral Collateral, sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary's (Debtor's) principal place lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of business is additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as set forth Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the address Collateral covered by this Deed of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 2 contracts

Samples: Security Agreement (Behringer Harvard Reit I Inc), Behringer Harvard Reit I Inc

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property, and Mortgagor hereby grants to Lender a security interest in all portions of the Property constituting personal property or fixtures under the UCC. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Mortgagor by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, to the extent allowed by Legal Requirements. the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Mortgagor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.), Mortgage and Security Agreement (Lightstone Value Plus Real Estate Investment Trust, Inc.)

Security Agreement. This Security Instrument is both Lease constitutes a real property deed of trust security agreement pursuant to and a "security agreement" within in accordance with the meaning of the Uniform Commercial Code. The UCC covering all Property includes both real Collateral and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to LenderAccounts Collateral, as security for well as the Obligations (hereinafter defined), Authorization Collateral and any other property in or against which Landlord is granted a security interest or lien by the terms of this Lease (collectively, the “Lease Collateral”), and such security agreement, and the security interests and liens created in this Lease, shall survive the expiration or earlier termination of this Lease. Tenant hereby authorizes Landlord to file such financing statements, continuation statements and other documents as may be necessary or desirable to perfect or continue the perfection of Landlord’s security interests and liens in the Fixtures, the Equipment and the Personal Property Lease Collateral pursuant to the full extent that UCC. In addition, if required by Landlord at any time during the FixturesTerm, Tenant shall execute and deliver to Landlord, in form reasonably satisfactory to Landlord, additional security agreements, financing statements, fixture filings and such other documents as Landlord may reasonably require to perfect or continue the Equipment perfection of Landlord’s security interests and liens in the Personal Property may be subject to Lease Collateral. Upon the Uniform Commercial Code (said portion occurrence of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default or in connection with an Operational Transfer, Landlord shall occur and be continuing, Lender, in addition entitled to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted available to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting or available to a landlord under the generality laws of the foregoingState(s) where the applicable Leased Property(ies) is (are) located, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after Lease Collateral, including the occurrence and during right to sell the continuance of an Event of Default. Any notice of same at public or private sale, disposition or other intended action by Lender and, in connection with respect to any such sale, Tenant agrees that the Collateral sent to Borrower in accordance with the provisions hereof at least giving of ten (10) business days prior to such actiondays’ notice by Landlord, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds designating the time and place of any disposition public sale of the any Lease Collateral, or the time after which any part private sale or other intended disposition of any Lease Collateral is to be made, shall be deemed to be reasonable notice thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofTenant waives any other notice with respect thereto.

Appears in 2 contracts

Samples: Master Lease Agreement (Emeritus Corp\wa\), Master Lease Agreement (Emeritus Corp\wa\)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc), Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc)

Security Agreement. (a) This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"“Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender Xxxxxx in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. In the event of any change in name, identity or structure of Xxxxxxxx, Borrower shall notify Lender thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Xxxxxx’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's (Debtor's) principal place of business is ’s obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as set forth its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Xxxxxx, as secured party, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Security Instrument.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing (Behringer Harvard Reit I Inc), First American (Behringer Harvard Opportunity REIT I, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust Security Instrument and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"“Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during During the continuance of an Event of Default, upon request or demand of Mortgagee, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) in New York reasonably acceptable to LenderMortgagee. Borrower shall pay to Lender on Mortgagee within five (5) Business Days of promptly following written demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default(but excluding special, punitive, or consequential damages, unless asserted against Borrower by a third party). Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its sole discretion shall deem proper. In the event of any change in name, identity or structure of Borrower's (Debtor's) principal place , Borrower shall notify Mortgagee thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of business is Mortgagee’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Mortgagee shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as set forth Mortgagee reasonably shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations or decrease Borrower’s rights under the Loan Documents. Borrower hereby irrevocably appoints Mortgagee as its attorney‑in‑fact, coupled with an interest, to file with the appropriate public office on page one hereof its behalf any financing or other statements naming Mortgagee, as secured party, and Borrower, as debtor, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Security Instrument.

Appears in 2 contracts

Samples: And Security Agreement (KBS Strategic Opportunity REIT, Inc.), And Security Agreement (KBS Strategic Opportunity REIT, Inc.)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this paragraph the "COLLATERAL"). Mortgagor hereby agrees with Mortgagee to execute and deliver to Mortgagee, in form and substance reasonably satisfactory to Mortgagee, such financing statements and such further assurances as Mortgagee may from time to time, reasonably consider necessary to create, perfect, and preserve Mortgagee's security interest herein granted. This Mortgage shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code as to all or any items of the Collateral that are or are to become fixtures under the Uniform Commercial Code. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Mortgage. If an Event of Default shall occur and be continuingoccur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender on Mortgagee within ten (10) Business Days of demand therefor any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its sole discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of any Mortgagor, such Mortgagor shall notify Mortgagee thereof and promptly after Mortgagee's (Debtor's) principal place request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of business is Mortgagee's lien upon and security interest in the Collateral, and shall pay all reasonable expenses and fees in connection with the filing and recording thereof. If Mortgagee shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Mortgagor shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as set forth Mortgagee shall deem reasonably necessary, and shall pay all reasonable expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Mortgagor's obligations or decrease Mortgagor's rights under the Note, this Mortgage and any of the other Loan Documents. Mortgagor hereby irrevocably appoints Mortgagee as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Mortgagee, as secured party, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Mortgage.

Appears in 2 contracts

Samples: Leases and Rents and Security Agreement (Lodgian Inc), And Security Agreement (Lodgian Inc)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" ”, within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants the Mortgagor has granted to Lender, the Lender as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")Mortgaged Property. If an Event of Default shall occur and be continuingoccurs, the Lender, in addition to any other rights and remedies which it they may havehave and subject to the rights and remedies of other lenders in connection with the Existing Mortgages, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Equipment or any part thereof, and to take such other measures as the Lender may deem necessary for the care, protection and preservation of the CollateralEquipment. Upon request or demand of the Lender after and subject to the occurrence rights and during remedies of other lenders in connection with the continuance of an Event of DefaultExisting Mortgages, Borrower shall, the Mortgagor shall at its expense, expense assemble the Collateral Equipment and make it available to the Lender at a convenient place (at the Land if tangible property) reasonably acceptable to the Lender. Borrower The Mortgagor shall pay to the Lender on demand any and all expenses, including reasonable legal expenses and attorneys' ’ fees (including in-house counsel fees), incurred or paid by the Lender in protecting its their and other Secured Parties’ interest in the Collateral Mortgaged Property and in enforcing its and other Secured Parties’ rights hereunder under this Mortgage with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultMortgaged Property. Any notice of sale, disposition or other intended action by the Lender with respect to the Collateral personal property comprising the Mortgaged Property which is sent to Borrower the Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Mortgagor. The proceeds of any disposition of the CollateralMortgaged Property, or any part thereof, may, except as otherwise required by applicable law, may be applied by the Lender to the payment of the Debt as provided in the Purchase Agreement, subject to the rights and remedies of other lenders in connection with the Existing Mortgages. Without in any way limiting the generality of the immediately preceding paragraph or of the definition of Mortgaged Property, this Mortgage constitutes a fixture filing under Section 9-502 of the Uniform Commercial Code. For such priority purpose: (a) the “debtor” is Mortgagor and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business address is as set forth on page one hereof and the address given for it in the initial paragraph of Lender this Mortgage; (Secured Partyb) the “secured party” is as set forth the Lender, and their address for the purpose of obtaining information is the address given for it in the initial paragraph of this Mortgage; (c) the real estate to which the Fixtures are or are to become attached is the Mortgagor’s interest in the Premises described on page one hereofSCHEDULE A hereto; and (d) the record owner of such real estate is the Mortgagor.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (Avalon GloboCare Corp.), Mortgage and Security Agreement (Avalon GloboCare Corp.)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Trustee, in trust for the benefit of Lender, as security for the Obligations (hereinafter defined), a security interest in all of Borrower’s estate, right, title and interest in and to the Fixtures, the Equipment and the Personal Property and other property constituting the Property (including, without limitation, the Leases), whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property and such other property may be subject to the Uniform Commercial Code (all of Borrower’s estate, right, title and interest in and to said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor's’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Samples: Security Agreement (Inland Real Estate Income Trust, Inc.), Security Agreement (Inland Real Estate Income Trust, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (Glimcher Realty Trust), Glimcher Realty Trust

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of the Borrower in the Property. By executing and delivering this Security Instrument, the Borrower hereby grants to Lenderthe Administrative Agent, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lenderthe Administrative Agent, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender the Administrative Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender the Administrative Agent after the occurrence and during the continuance of an Event of Default, the Borrower shall, at its expense, assemble the Collateral and make it available to Lender the Administrative Agent at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Administrative Agent. The Borrower shall pay to Lender the Administrative Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Administrative Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender the Administrative Agent with respect to the Collateral sent to the Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to the Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender the Administrative Agent to the payment of the Debt Obligations in such priority and proportions as Lender the Administrative Agent in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of the Borrower (Debtor) is as set forth on page one hereof and the address of Lender the Administrative Agent (Secured Party) is as set forth on page one hereof.

Appears in 2 contracts

Samples: Mortgage and Security Agreement, Mortgage and Security Agreement (Heartland Payment Systems Inc)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Electro Scientific Industries Inc

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this paragraph 29 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: elstico.com

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to MERS, as nominee of Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof. Borrower's organizational ID no. is 14-1838660.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" ", within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. By The Mortgagor by executing and delivering this Security Instrument, Borrower hereby grants Mortgage has granted to Lenderthe Mortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")Equipment. If an Event of Default shall occur and be continuingoccurs under the Loan Agreement or this Mortgage, Lenderthe Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Equipment or any part thereof, and to take such other measures as Lender the Mortgagee may deem necessary for the care, protection and preservation of the CollateralEquipment. Upon request or demand of Lender after the occurrence and during Mortgagee, the continuance of an Event of Default, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral Equipment and make it available to Lender the Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Mortgagee. Borrower The Mortgagor shall pay to Lender the Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Mortgagee in protecting its interest in the Collateral Equipment and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultEquipment. Any notice of sale, disposition or other intended action by Lender the Mortgagee with respect to the Collateral Equipment sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds the Mortgagor, and the method of any sale or disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt other intended action set forth or specified in such priority and proportions as Lender in its discretion notice shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.conclusively

Appears in 1 contract

Samples: Igi Inc

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), Mortgage shall constitute a security interest agreement as defined in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion "Code"). Any equipment or fixtures installed in or used in the Premises are to be used by the Mortgagor solely for the Mortgagor's business purposes or as the equipment and fixtures leased or furnished by the Mortgagor, as landlord, to tenants of the Property so subject Premises and such equipment or fixtures will be kept at the buildings on the Premises and will not be removed therefrom without the consent of the Mortgagee and may be affixed to such buildings but will not be affixed to any other real estate. The remedies of the Mortgagee hereunder are cumulative and separate, and the exercise of any one or more of the remedies provided for herein or under the Uniform Commercial Code being called shall not be constructed as a waiver of any of the "COLLATERAL")other rights of the Mortgagee including having any non-realty items of the Premises deemed part of the realty upon any foreclosure thereof. If an Event of Default shall occur and be continuing, Lender, in addition notice to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession intended disposition of the Collateral or any part thereofPremises is required by law in a particular instance, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land notice shall be deemed commercially reasonable if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof given at least ten (10) business days prior to such actionintended disposition and may be given by advertisement in a newspaper accepted for legal publications either separately or as part of a notice given to foreclose the real property or may be given by private notice if such parties are known to Mortgagee. Neither the grant of a security interest pursuant to this Mortgage nor the filing of a financing statement pursuant to the Code shall ever impair the stated intention of this Mortgage that all personal property, shallrents, except leases and profits and judgments and awards comprising and at all times and for all purposes and in all proceedings both legal or equitable shall be regarded as otherwise provided part of the real property mortgaged hereunder irrespective of whether such item is physically attached to the real property or any such item is referred to or reflected in a financing statement. Mortgagor will on demand deliver any financing statements that may from time to time be required by applicable law, constitute reasonable notice Mortgagee to Borrower. The proceeds establish and perfect the priority of Mortgagee's security interest in the Premises and shall pay all expenses incurred by Mortgagee in connection with the renewal or extensions of any disposition financing statements executed in connection with the Premises; and shall give advance written notice of any proposed change in Mortgagor's name, identity or structure and will execute and deliver to Mortgagee prior to or concurrently with such change all additional financing statements that Mortgagee may require to establish and perfect the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment priority of the Debt in such priority and proportions as Lender in its discretion shall deem proper. BorrowerMortgagee's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofsecurity interest.

Appears in 1 contract

Samples: Mortgage and Security Agreement and Fixture Financing Statement (Wsi Industries Inc)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby Grantor has granted and thereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said such portion of the Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERAL"“Collateral”). Grantor hereby agrees with Beneficiary to execute and deliver to Beneficiary, in form and substance satisfactory to Beneficiary, such financing statements and such further assurances as Beneficiary may from time to time reasonably consider necessary to create, perfect or preserve Beneficiary’s security interest therein granted. This Deed of Trust shall also be effective as a financing statement covering any other property and may be filed in any other appropriate filing or recording office. This Deed of Trust shall also constitute a “fixture filing” for the purposes of the Uniform Commercial Code. All or part of the Property are or are to become fixtures. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, Code including, without limiting the generality of the foregoinglimitation, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Grantor shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (Beneficiary at the Land if tangible property) reasonably acceptable to LenderLand. Borrower shall pay to Lender Beneficiary on demand any and all expenses, including Beneficiary’s reasonable legal expenses and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided shall constitute commercially reasonable notice to Grantor. To the extent permitted by applicable law, constitute reasonable notice to Borrower. The the proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place In the event of business is any change in name, identity or structure of any entity comprising Grantor, such Grantor shall notify Beneficiary thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as set forth on page one hereof are necessary to maintain the priority of Beneficiary’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Grantor shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Grantor’s obligations under the Note, this Deed of Trust and the address other Loan Documents. Grantor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the Collateral covered by this Deed of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 1 contract

Samples: Innkeepers Usa Trust/Fl

Security Agreement. (a) This Security Instrument is Deed of Trust constitutes both a real property mortgage or deed of trust and a "security agreement" ,” within the meaning of the Uniform Commercial Code. The Texas UCC, and the Trust Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Grantor in the Trust Property. By The Grantor by executing and delivering this Security Instrument, Borrower hereby grants Deed of Trust has granted to Lenderthe Beneficiary, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")UCC Collateral. If an Event of Default shall occur and be continuinghereunder, Lenderthe Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeTexas UCC, including, without limiting the generality of the foregoing, the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender the Beneficiary may deem necessary for the care, protection and preservation of the UCC Collateral. Upon request or demand of Lender after the occurrence and during Beneficiary, the continuance of an Event of Default, Borrower shall, Grantor shall at its expense, expense assemble the UCC Collateral and make it available to Lender the Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Beneficiary. Borrower The Grantor shall pay to Lender the Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Beneficiary in protecting its interest in the UCC Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultUCC Collateral. Any notice of sale, disposition or other intended action by Lender the Beneficiary with respect to the UCC Collateral sent to Borrower the Grantor in accordance with the provisions hereof of this Deed of Trust at least ten (10) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Grantor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Texas UCC unless objected to in writing by the Grantor within five (5) days after receipt by the Grantor of such notice. The proceeds of any sale or disposition of the UCC Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Beneficiary to the payment of the Debt Obligations in such order, priority and proportions as Lender the Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place If any change shall occur in the Grantor’s name, the Grantor shall promptly cause to be filed at its own expense, new financing statements as required under the Texas UCC to replace those on file in favor of business is as set forth on page one hereof the Beneficiary. Conflicts between this Paragraph 28 and any provision of the Security Agreement of even date herewith between the Grantor and the address Beneficiary shall be resolved in favor of Lender (Secured Party) is as set forth on page one hereofthe Security Agreement.

Appears in 1 contract

Samples: Deed of Trust (Smith & Wollensky Restaurant Group Inc)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: www.sec.gov

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower Grantor has granted and hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said such portion of the Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERALCollateral"). Grantor represents, warrants and covenants that it has not previously granted, and it shall not in the future grant, any security interests under Article 9 of the Uniform Commercial Code in any of the Collateral. Gxxxxxx hereby agrees with Beneficiary to execute and deliver to Beneficiary, in form and substance satisfactory to Beneficiary, such financing statements and such further assurances as Beneficiary may from time to time reasonably consider necessary to create, perfect or preserve Beneficiary's security interest herein granted. This Deed of Trust shall also be effective as a financing statement covering any other property and may be filed in any other appropriate filing or recording office. This Deed of Trust shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code. All or part of the Property are or are to become fixtures. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, Code including, without limiting the generality of the foregoinglimitation, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Grantor shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (Beneficiary at the Land if tangible property) reasonably acceptable to LenderLand. Borrower Grantor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and Beneficiary's attorneys' fees, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of any Grantor, such Grantor shall notify Beneficiary thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Beneficiary's (Debtor's) principal place lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of business is additional Uniform Commercial Code forms or continuation statements, Grantor shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as set forth on page one hereof Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Grantor's obligations under the Note, this Deed of Trust and the address other Loan Documents. Grantor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as secured party, in connection with the Collateral covered by this Deed of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Equity Inns Inc)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such EXHIBIT G-1 – CBL 4873-9001-7310\2 other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Beneficiary after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender Beneficiary (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Credit Agreement (CBL & Associates Properties Inc)

Security Agreement. This Security Instrument constitutes and is deemed to be both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. By executing and delivering this Security Instrument, Borrower Trustor hereby grants to LenderAdministrative Agent, for the benefit of Administrative Agent and the Lenders, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccurs, LenderAdministrative Agent, in addition to any other rights and remedies which it may have, shall will have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Administrative Agent may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Administrative Agent after the occurrence occurrence, and during the continuance continuance, of an Event of Default, Borrower shallTrustor will, at its expense, assemble the Collateral and make it available to Lender Administrative Agent at a convenient place (at the Land if tangible property) reasonably acceptable to LenderAdministrative Agent. Borrower shall Trustor will pay to Lender Administrative Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Administrative Agent in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence occurrence, and during the continuance continuance, of an Event of Default. Any notice of sale, disposition or other intended action by Lender Administrative Agent with respect to the Collateral sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days 10 Business Days prior to such action, shallwill, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Administrative Agent to the payment of the Debt Obligations in such priority and proportions as Lender Administrative Agent in its discretion shall deem deems proper. Borrower's (Debtor's) The principal place of business of Trustor (Debtor) is as set forth on page one hereof and the address of Lender Administrative Agent (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: KBS Real Estate Investment Trust III, Inc.

Security Agreement. (a) This Security Instrument Deed is both a real property deed of trust Deed and a "security agreement" within the meaning of the Uniform Commercial Code. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Trust Property. By Grantor, by executing and delivering this Security Instrument, Borrower hereby Deed grants to LenderGrantee, as security for the Obligations (hereinafter defined)Indebtedness, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code (said such portion of the Trust Property so subject to the Uniform Commercial Code being called in this PARAGRAPH 27 the "COLLATERAL"). Grantor hereby authorizes Grantee to file financing statements (and amendments thereto and continuations thereof) in order to create, perfect, preserve and continue the security interest(s) herein granted. This Deed shall cover all items of the Collateral that are or are to become fixtures. Information concerning the security interest(s) herein granted may be obtained from Grantee upon request. If an Event of Default shall occur and be continuingoccur, LenderGrantee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Grantee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultGrantee, Borrower shall, Grantor shall at its expense, expense assemble the Collateral and make it available to Lender Grantee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderGrantee. Borrower Grantor shall pay to Lender Grantee on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Grantee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Grantee with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten five (105) business days prior to such actionsale, shall, except as otherwise provided by applicable law, disposition or action shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part Loan No. 6518403 thereof, may, except as otherwise required by applicable law, may be applied by Lender Grantee to the payment of the Debt Indebtedness in such priority and proportions as Lender Grantee in its discretion shall deem proper. BorrowerGrantor shall notify Grantee of any change in name, identity or structure of Grantor, and Grantor hereby expressly authorizes Grantee to file and record, at Grantor's (Debtor's) principal place sole cost and expense, such Uniform Commercial Code forms as are necessary to maintain the priority of business is the lien, security title and security interest of Grantee upon and security interest in the Collateral. In addition, Grantor shall promptly execute, file and record such additional Uniform Commercial Code forms or continuation statements as set forth Grantee shall deem necessary and shall pay all expenses and fees in connection with the filing and recording thereof, provided that no such additional documents shall increase the obligations of Grantor under the Note, this Deed or the other Loan Documents. Grantor hereby grants to Grantee an irrevocable power of attorney, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Grantee, as secured party, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Deed.

Appears in 1 contract

Samples: And Security Agreement (Inland Western Retail Real Estate Trust Inc)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and ------------------ a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this paragraph 30 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, Lender---------- Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon the request or demand of Lender after the occurrence and during the continuance of an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and reasonable attorneys' fees, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Indemnity Agreement (Afc Enterprises Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security Instrument, Borrower Mortgagor hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Mortgagor (Debtor) is as set forth on page one hereof and the address of Lender Mortgagee (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Security Agreement (Alexanders Inc)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor's’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Leases and Rents and Security Agreement (Inland American Real Estate Trust, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By executing and delivering this Security Instrument, Borrower Grantor hereby grants to Lender, as security for the Obligations (as hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur occurs and be is continuing, Lender, in addition to any other rights and remedies which it may have, shall will have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shallGrantor will, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall Grantor will pay to Lender on demand any and all expenses, including reasonable legal expenses and reasonable attorneys' fees, incurred or paid by Lender Lxxxxx in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days 10 Business Days prior to such action, shallwill, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, mayshall, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt Obligations (as hereinafter defined) in such priority and proportions as Lender in its reasonable discretion shall deem deems proper. Borrower's (Debtor's) The principal place of business of Grantor (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Security Agreement (Digital Ally, Inc.)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement," within the meaning of the Uniform Commercial Code. The Property UCC, and the Collateral includes both real and personal property any and all other rights and interests, whether tangible or intangible in nature, of Borrower each Mortgagor in the PropertyCollateral. By Information relative to the security interest created hereby may be obtained by application to Mortgagee at the address provided in the introductory clause. Each Mortgagor, by executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, has granted as security for the Secured Obligations (hereinafter defined), a lien on and security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion such of the Property so subject to Collateral as is governed by the Uniform Commercial Code being called the "COLLATERAL")UCC in favor of Mortgagee. If an During a Trigger Event of Default shall occur and be continuingPeriod, LenderMortgagee, in addition to any other rights and remedies which that it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party Mortgagee upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of such of the Collateral as is governed by the UCC or any part thereofthereof and such other rights specified in Section 21(a)(ii)(C), and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateralthereof. Upon request or demand of Lender after Mortgagee, the occurrence and during the continuance of an Event of Default, Borrower shall, Company shall at its expense, expense assemble such of the Collateral as is governed by the UCC and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender Mortgagee on demand and shall reimburse Mortgagee for any and all expensesexpense, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Mortgagee in protecting its interest in such of the Collateral as is governed by the UCC and in enforcing its the rights granted hereunder with respect to such of the Collateral after as is governed by the occurrence and during the continuance of an Event of DefaultUCC. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to such of the Collateral as is governed by the UCC sent to Borrower either Mortgagor in accordance with the provisions hereof of this Mortgage at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, action shall constitute reasonable notice to Borrowersuch Mortgagor. Any method of sale or disposition or other intended action in accordance with the UCC shall conclusively be deemed to be commercially reasonable within the meaning of the UCC unless objected to in writing by either the Company or the IDB within ten (10) days after receipt by such Mortgagor of such notice. The proceeds of any sale or disposition of such of the CollateralCollateral as is governed by the UCC, or any part thereof, may, except as otherwise required by applicable law, shall be applied by Lender Mortgagee to the payment of the Debt Secured Obligations in such order, priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page in Article VI of the Intercreditor Agreement. Notwithstanding anything contained in this Section 16 to the contrary, with respect to any Collateral that is also defined as "Collateral" under the Security Agreement, Mortgagee hereby reserves, and Mortgagee shall be entitled to exercise, each of its rights, powers and remedies under the Security Agreement with respect to such Collateral. At the request of Mortgagee upon advice of counsel, each Mortgagor will execute one hereof or more Financing Statements and renewals and amendments thereof pursuant to the UCC of any jurisdiction deemed applicable by Mortgagee in form satisfactory to Mortgagee, and the address Company will pay the cost of Lender filing the same in all public offices wherever filing is deemed by Mortgagee to be necessary or desirable. The Company covenants to execute and deliver Mortgagee, upon demand, such additional assurances, writings and other instruments as may be reasonably required by Mortgagee to effect the purpose hereof or to perfect the interest of Mortgagee in any security hereby given, including a copy of any opinion it may deliver to the Indenture Trustee in connection with the Indenture and a reliance letter addressed to it in connection therewith. Each Mortgagor hereby appoints (such appointment being coupled with an interest), until the Secured Party) is Obligations are paid in full, Mortgagee as set forth on page one hereofattorney-in-fact for such Mortgagor and to execute in the name thereof any financing statements or other comparable documents reasonably deemed by Mortgagee to be necessary or desirable to perfect or protect or continue the lien and security interest hereby granted. Each Mortgagor hereby ratifies all that Mortgagee shall do or cause to be done as such Mortgagor's attorney-in-fact consistent with the foregoing.

Appears in 1 contract

Samples: Lease and Agreement (Mobile Energy Services Co LLC)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Xxxxxx in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: TNP Strategic Retail Trust, Inc.

Security Agreement. This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor in the Property. By Trustor by executing and delivering this Security Instrument, Borrower Deed of Trust has granted and hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"). This Deed of Trust shall also constitute a "fixture filing" for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Deed of Trust. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral Collateral, sent to Borrower Trustor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its sole discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Beneficiary shall require the filing or recording of additional UCC forms or continuation statements, Trustor shall, promptly after request, execute, file and record such UCC forms or continuation statements as Beneficiary shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Trustor's obligations under the Loan Documents. Trustor hereby irrevocably appoints Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements (Debtor'sbe they unsigned or signed only by Beneficiary as secured party) principal place in connection with the Collateral covered by this Deed of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 1 contract

Samples: Behringer Harvard Reit I Inc

Security Agreement. This Security Instrument Agreement is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Mortgaged Property. By executing and delivering this Security InstrumentAgreement, Borrower has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said such portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERALCollateral"). Borrower hereby agrees with Lender to execute and deliver to Lender, in form and substance satisfactory to Lender, such financing statements and such further assurances as Lender may from time to time, reasonably consider necessary to create, perfect or preserve Lender's security interest therein granted. The Mortgage shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code. All or part of the Mortgaged Property are or are to become fixtures. If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, Code including, without limiting the generality of the foregoinglimitation, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all reasonable expenses, including reasonable legal expenses and Lender's attorneys' fees, fees incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business 10 days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. In the event of any change in name, identity or structure of any Borrower, such Borrower shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Lender's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's (Debtor's) principal place of business is as set forth on page one hereof obligations under the Note, the Mortgage, this Agreement, the Assignment, the Environmental Agreement and the address of other Loan Documents. Borrower hereby irrevocably appoints Lender (Secured Party) is as set forth its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereofits behalf any financing or other statements signed only by Lender, as secured party, in connection with the Collateral covered by the Mortgage.

Appears in 1 contract

Samples: Loan Agreement (Wyndham International Inc)

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Security Agreement. 2.14.1 This Security Instrument is both Deed of Trust shall also be a real security agreement between Trustor and Beneficiary covering the Deed of Trust Property constituting personal property deed or fixtures (hereinafter collectively called "UCC Collateral") governed by the [RELEVANT STATE] Uniform Commercial Code ("UCC") as the same may be more specifically set forth in any financing statement delivered in connection with this Deed of trust Trust, and a "as further security agreement" within for the meaning payment and performance of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interestsSecured Obligations, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower Trustor hereby grants to Lender, as security for the Obligations (hereinafter defined), Beneficiary a security interest in such portion of the Fixtures, the Equipment and the Personal Property Site to the full extent that the Fixtures, the Equipment and the Personal Property Site may be subject to the Uniform Commercial Code UCC. In addition to Beneficiary's other rights hereunder, Beneficiary shall have all rights of a secured party under the UCC. Trustor shall execute and deliver to Beneficiary all financing statements and such further assurances that may be reasonably required by Beneficiary to establish, create, perfect (said portion to the extent the same can be achieved by the filing of a financing statement) and maintain the validity and priority of Beneficiary's security interests, and Trustor shall bear all reasonable costs thereof, including all UCC searches. Except as otherwise provided in the Credit Documents, if Beneficiary should dispose of any of the Property so subject Site comprising the UCC Collateral pursuant to the Uniform Commercial Code being called UCC, ten (10) days' prior written notice by Beneficiary to Trustor shall be deemed to be reasonable notice; provided, however, Beneficiary may dispose of such property in accordance with the "COLLATERAL")foreclosure procedures of this Deed of Trust in lieu of proceeding under the UCC. If Beneficiary may from time to time execute and deliver at Trustor's expense, all continuation statements, termination statements, amendments, partial releases, or other instruments relating to all financing statements by and between Trustor and Beneficiary. Except as otherwise provided in the Credit Documents, if an Event of Default shall occur and be is continuing, Lender(a) Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demanddemand to the extent permitted by law, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.UCC

Appears in 1 contract

Samples: Credit Agreement (Calpine Corp)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security Instrument, Borrower Mortgagor hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Mortgagor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. BorrowerMortgagor's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) (i) This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Trust Property. By This Deed of Trust is filed as a fixture filing and covers goods which are or are to become fixtures on the Trust Property. Grantor by executing and delivering this Security Instrument, Borrower hereby grants Deed of Trust has granted to LenderBeneficiary, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code UCC of the State in which the Trust Property is located (said portion of the Trust Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of Beneficiary following an Event of Default, Borrower Grantor shall, at its expense, assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Grantor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff's sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent given to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Prime Retail Inc

Security Agreement. (a) (i) This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By The Mortgage is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument and the other Loan Documents has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. To the extent permitted by Legal Requirements, any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriffs sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any To the extent permitted by Legal Requirements, any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Samples: Loan and Security Agreement (Etre Reit, LLC)

Security Agreement. This Security Instrument is Mortgage constitutes both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The , and the Mortgaged Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Mortgagor in the Mortgaged Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur under the Notes or this Mortgage, the Mortgagee and be continuing, Lenderthe Collateral Agent on behalf of the Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral Mortgaged Property or any part thereof, and to take such other measures as Lender the Mortgagee or the Collateral Agent may deem necessary for the care, protection and preservation of the CollateralMortgaged Property. Upon request or demand of Lender after the occurrence and during Collateral Agent, the continuance of an Event of Default, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral Mortgaged Property and make it available to Lender the Collateral Agent at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Collateral Agent. Borrower The Mortgagor shall pay to Lender the Collateral Agent on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and Agent in enforcing or exercising its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultMortgaged Property. Any notice of sale, disposition or other intended action by Lender the Mortgagee or Collateral Agent with respect to the Collateral Mortgaged Property sent to Borrower the Mortgagor in accordance with the provisions hereof of this Mortgage at least ten seven (107) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Mortgagor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the Uniform Commercial Code unless objected to in writing by the Mortgagor within five (5) days after receipt by the Mortgagor of such notice. The proceeds of any sale or disposition of the CollateralMortgaged Property, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Mortgagee to the payment of the Debt in such order, priority and proportions as Lender the Mortgagee in its discretion shall deem proper. BorrowerIf any change shall occur in the Mortgagor's (Debtor's) principal place name, the Mortgagor shall promptly cause to be filed at its own expense, new financing statements as required under the Uniform Commercial Code to replace those on file in favor of business is as set forth the Mortgagee or Collateral Agent on page one hereof and the address behalf of Lender (Secured Party) is as set forth on page one hereofMortgagee.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Nexmed Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Xxxxxx in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtordebtor's) principal place of business is as set forth on page one (1) hereof and the address of Lender (Secured Partysecured party) is as set forth on page one (1) hereof.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Glimcher Realty Trust)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed Deed of trust Trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Trustor, if any, in the Trust Property. By Trustor, by executing and delivering this Security Instrument, Borrower hereby Deed of Trust grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Indebtedness, a security interest in the Fixtures, the Equipment and the Personal Trust Property to the full extent that the Fixtures, the Equipment and the Personal Trust Property may be subject to the Uniform Commercial Code (said such portion of the Trust Property so subject to the Uniform Commercial Code being called in this Paragraph the "COLLATERALCollateral"). Trustor shall execute and deliver to Beneficiary, in form and substance reasonably satisfactory to Beneficiary, such financing statements and further assurances as Beneficiary may from time to time, reasonably request in order to create, perfect, and preserve the security interest(s) herein granted. This Deed of Trust shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code and shall cover all items of the Collateral that are or are to become fixtures. Information concerning the security interest(s) herein granted may be obtained from Beneficiary upon request. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, but subject to the rights of Tenant under the Lease Agreement and the Manager under the Management Agreement, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand any and all reasonable expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary or Trustee with respect to the Collateral sent to Borrower Trustor in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerTrustor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt Indebtedness in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Borrower's (Debtor's) principal place Trustor shall notify Beneficiary and Trustee of business is any change in name, identity or structure of Trustor and shall promptly execute, file and record, at its sole cost and expense, such Uniform Commercial Code forms as set forth are necessary to maintain the priority of the lien of Beneficiary and Trustee upon and security interest in the Collateral. In addition, Trustor shall promptly execute, file and record such additional Uniform Commercial Code forms or continuation statements as Beneficiary or Trustee shall reasonably deem necessary and shall pay all expenses and fees in connection with the filing and recording thereof, provided that no such additional documents shall increase the obligations of Trustor under the Note, this Deed of Trust or the other Loan Documents. Trustor hereby grants to Beneficiary and Trustee an irrevocable power of attorney, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Beneficiary or Trustee, as secured party, in connection with the address Collateral covered by this Deed of Lender (Secured Party) is as set forth on page one hereofTrust.

Appears in 1 contract

Samples: And Security Agreement (Hospitality Properties Trust)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any 103 disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Samples: Pebblebrook Hotel Trust

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Borrower by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Samples: Pebblebrook Hotel Trust

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security InstrumentMortgage, Borrower and Operator each hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in all Property, including without limitation the Fixtures, the Equipment and Equipment, the Personal Property and Rents to the full extent that such Property, including without limitation the Fixtures, the Equipment and Equipment, the Personal Property and Rents may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower and Operator each shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Mortgagor shall pay to Lender on within ten (10) Business Days after demand therefor, any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower Mortgagor in accordance with Section 10.6 of the provisions hereof Loan Agreement at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower and Operator (each, debtor) is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Fixture Filing and Security Agreement (BRE Select Hotels Corp)

Security Agreement. This Security Instrument Agreement is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Owner in the Mortgaged Property. By executing and delivering this Security InstrumentAgreement, Borrower hereby Owner has granted and thereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said such portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERALCollateral"). Owner hereby agrees with Lender to execute and deliver to Lender, in form and substance satisfactory to Lender, such financing statements and such further assurances as Lender may from time to time, reasonably consider necessary to create, perfect or preserve Lender's security interest therein granted. The Mortgage shall also constitute a "fixture filing" for the purposes of the Uniform Commercial Code. All or part of the Mortgaged Property are or are to become fixtures. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it they may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, Code including, without limiting the generality of the foregoinglimitation, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, Owner shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower If Lender retains counsel to enforce its rights hereunder, Owner shall pay to Lender on demand any and all expenses, including reasonable legal expenses and Lender's attorneys' feesfees (including on appeal), incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower Owner in accordance with the provisions hereof at least ten (10) business 10 days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerOwner. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. BorrowerIn the event of any change in name, identity or structure of any Owner, such Owner shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of Lender's (Debtor's) principal place lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of business is additional Uniform Commercial Code forms or continuation statements, Owner shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as set forth on page one hereof Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Owner's obligations under the Note, the Mortgage, this Agreement, the Assignment, the Environmental Agreement and the address of other Loan Documents. Owner hereby irrevocably appoints Lender (Secured Party) is as set forth its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereofits behalf any financing or other statements signed only by Lender, as secured party, in connection with the Collateral covered by the Mortgage.

Appears in 1 contract

Samples: Loan Agreement (Lodgian Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand within ten (10) Business Days after written request therefor any and all out-of-pocket expenses, including reasonable legal expenses and attorneys' feesfees of outside counsel, actually incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Morgans Hotel Group Co.)

Security Agreement. (a) This Security Instrument Mortgage is both a real property deed of trust Mortgage and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"). This Mortgage shall also constitute a "fixture filing" for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Mortgage covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Mortgage. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' feesfees and disbursements, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. In the event of any change in name, identity or structure of Borrower, Borrower shall notify Lender thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Lender's lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's (Debtor's) principal place of business is obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as set forth its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof and its behalf any financing or other statements signed only by Lender, as secured party, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Mortgage.

Appears in 1 contract

Samples: Leases and Rents and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. (a) (i) This Security Instrument is both a real property mortgage, deed to secure debt or deed of trust trust, as applicable, and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By This Security Instrument is filed as a fixture filing and covers goods which are or are to become fixtures on the Property. Grantor by executing and delivering this Security Instrument, Borrower hereby grants Instrument has granted to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 18.14 the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party 108 upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of following an Event of Default, Borrower Grantor shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower Grantor shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral. Any disposition pursuant to the UCC of so much of the Collateral after as may constitute personal property shall be considered commercially reasonable if made pursuant to a public sale which is advertised at least twice in a newspaper in which sheriff’s sales are advertised in the occurrence and during county where the continuance of an Event of DefaultPremises is located. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent given to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business It is as set forth on page one hereof and not necessary that the address of Collateral be present at any disposition thereof. Lender (Secured Party) is as set forth on page one hereofshall have no obligation to clean-up or otherwise prepare the Collateral for disposition.

Appears in 1 contract

Samples: RLJ Lodging Trust

Security Agreement. This Security (a) Insofar as the machinery, apparatus, equipment, fittings, fixtures, building supplies and materials, general intangibles and articles of personal property either referred to or described in this Instrument, or in any way connected with the use and enjoyment of the Property is concerned, Grantor grants unto Beneficiary a security interest therein and this Instrument is both hereby made and declared to be a real property deed of trust and a "security agreement" within , encumbering each and every item of personal property (the meaning “Personal Property”) included herein, in compliance with the provisions of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Code as enacted in the Propertyapplicable jurisdiction as set forth in Section 3.04 below (the “UCC”). By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for Beneficiary may exercise any or all of the Obligations (hereinafter defined), remedies of a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to secured party under the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Defaultany personal property. Any notice of sale, disposition or other intended action notification required by Lender with respect to the Collateral UCC shall be deemed reasonably and properly given if sent to Borrower in accordance with the notice provisions hereof of this Instrument at least ten (10) business days prior before any sale or other disposition of the Personal Property. Disposition of the Personal Property shall be deemed commercially reasonable if made pursuant to a public sale advertised at least twice in a newspaper of general circulation in the community where the Property is located. It shall be deemed commercially reasonable for Beneficiary to dispose of the Personal Property without giving any warranties as to the Personal Property and specifically disclaiming all disposition warranties. A financing statement or statements affecting all of said personal property aforementioned, shall be appropriately filed. The remedies for any violation of the covenants, terms and conditions of the security agreement herein contained shall be (i) as prescribed herein with respect to the Property, or (ii) as prescribed by general law, or (iii) as prescribed by the specific statutory consequences now or hereafter enacted and specified in said UCC, all at Beneficiary’s sole election. Grantor and Beneficiary agree that the filing of such actionfinancing statement(s) in the records normally having to do with personal property shall never be construed as in any way derogating from or impairing this declaration and hereby stated intention of Grantor and Beneficiary that everything used in connection with the production of income from the Property and/or adapted for use therein and/or which is described or reflected in this Instrument, shall, except as otherwise is to the full extent provided by applicable law, constitute reasonable notice and at all times and for all purposes and in all proceedings both legal or equitable shall be, regarded as part of the real estate irrespective of whether (i) any such item is physically attached to Borrowerthe Improvements, (ii) serial numbers are used for the better identification of certain items capable of being thus identified in a recital contained herein, or (iii) any such item is referred to or reflected in any such financing statement(s) so filed at any time. The Similarly, the mention in any such financing statement(s) of the rights in and to (1) the proceeds of any disposition fire and/or hazard insurance policy, or (2) any award in eminent domain proceedings for a taking or for loss of value, or (3) Grantor’s interest as lessor in any present or future lease or rights to income growing out of the Collateraluse and/or occupancy of the Property, whether pursuant to lease or otherwise, shall never be construed as in any way altering any of the rights of Beneficiary as determined by this Instrument, subject to the provisions of the Credit Agreement, or impugning the priority of Beneficiary’s lien granted hereby or by any part thereofother recorded document, may, except as otherwise required by applicable law, but such mention in such financing statement(s) is declared to be applied by Lender for the protection of Beneficiary in the event any court shall at any time hold with respect to the payment foregoing (1), (2) or (3), that notice of Beneficiary’s priority of interest to be effective against a particular class of persons, must be filed in the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofUCC records.

Appears in 1 contract

Samples: Financing Statement (Carter Validus Mission Critical REIT, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of each Borrower in the Property. By executing and delivering this Security Instrument, each Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full fullest extent that the Fixtures, the Equipment and the Personal Property security interests in such property may be granted under and subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALUCC Collateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the UCC Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, each Borrower shall, at its expense, assemble the UCC Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Each Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Xxxxxx in protecting its interest in the UCC Collateral and in enforcing its rights hereunder with respect to the UCC Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the UCC Collateral sent to either Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to such Borrower. The proceeds of any disposition of the UCC Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of each Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof. Each Borrower's location, for purposes of Section 9-307 of the Uniform Commercial Code, is such Borrower's state of formation/incorporation/organization as set forth on page one hereof ("Borrower's Jurisdiction").

Appears in 1 contract

Samples: Trust and Security Agreement (Ventas Inc)

Security Agreement. Section 5.1. THIS SECURITY DEED A SECURITY AGREEMENT; FILINGS. This Security Instrument is Deed constitutes both a real property deed of trust to secure debt and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower Grantor (as Debtor) hereby grants to Lender, Grantee (as security for the Obligations (hereinafter defined), Creditor and Secured Party) a security interest in all of Grantor's right, title and interest in and to (i) so much of the FixturesEquipment or any other part of the Mortgaged Property as is considered or as shall be determined to be personal property or "fixtures" (as defined in the Uniform Commercial Code) and not real estate, together with all replacements thereof, substitutions therefor or additions thereto, and (ii) all general intangibles and accounts in any way relating to the Mortgaged Property (said Equipment, personal property, fixtures, general intangibles and accounts being sometimes hereinafter referred to as the "ADDITIONAL COLLATERAL"), subject only to Permitted Liens, Grantor and Grantee acknowledge and agree that all references in this Security Deed to Collateral shall include, but shall not be limited to, the Equipment Additional Collateral. Grantor shall execute any and the Personal Property to the full extent that the Fixturesall such documents, the Equipment and the Personal Property may be subject including without limitation financing statements pursuant to the Uniform Commercial Code (said portion "FINANCING STATEMENTS"), as Grantee may reasonably request, to preserve and maintain the priority of the Property so subject lien created hereby on property which may constitute or be deemed to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereofAdditional Collateral, and shall pay to take Grantee on demand any reasonable expenses incurred by Grantee in connection with the preparation, execution and filing of any such other measures as Lender may deem necessary for the care, protection and preservation of the Collateraldocuments. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower Grantor shall, at its sole cost and expense, assemble the Collateral execute and make it available file all Financing Statements and refilings and continuations of filings previously executed by Grantor as Grantee reasonably deems necessary or advisable to Lender at a convenient place (at the Land create, preserve and protect said lien; and Grantor hereby authorizes and empowers Grantee as its attorney-in-fact to execute any such Financing Statements or filings, on Grantee's behalf, if tangible property) reasonably acceptable Grantor should fail to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrowerdo so. The proceeds foregoing power of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority attorney is irrevocable and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofcoupled with an interest.

Appears in 1 contract

Samples: Common Agreement (Tenaska Georgia Partners Lp)

Security Agreement. (a) This Security Instrument is both a real property deed of trust Security Instrument and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this paragraph the "COLLATERAL"“Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC and is to be filed for record in the real estate records where any part of the Property (including said fixtures) is situated. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. In the event of any change in name, identity or structure of Borrower's , Borrower shall notify Lender thereof and promptly after request shall execute, file and record such UCC forms as are necessary to maintain the priority of Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, execute, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements (Debtor'sbe they unsigned or signed only by Lender, as secured party) principal place of business is as set forth on page one hereof and in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Security Instrument.

Appears in 1 contract

Samples: Trust and Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage ------------------ and a "security agreement" within the meaning of the Uniform Commercial Code. The Mortgaged Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Mortgaged Property. By Mortgagor by executing and delivering this Security Instrument, Borrower Mortgage has granted and hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called in this paragraph 28 the "COLLATERALCollateral"). If an Event of Default shall occur and be continuingoccur, Lender---------- Mortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon the request or demand of Lender after the occurrence and during the continuance of an Event of DefaultMortgagee, Borrower shall, Mortgagor shall at its expense, expense assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all expenses, including reasonable legal expenses and reasonable attorneys' fees, incurred or paid by Lender Mortgagee in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Mortgagee to the payment of the Debt in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Afc Enterprises Inc

Security Agreement. (a) This Security Instrument is Deed of Trust constitutes both a real property mortgage or deed of trust and a "security agreement" ,” within the meaning of the Uniform Commercial Code. The Texas UCC, and the Trust Property includes both real and personal property and all other rights and interestsinterest, whether tangible or intangible in nature, of Borrower the Grantor in the Trust Property. By The Grantor by executing and delivering this Security Instrument, Borrower hereby grants Deed of Trust has granted to Lenderthe Beneficiary, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL")UCC Collateral. If an Event of Default shall occur and be continuinghereunder, Lenderthe Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeCode as in effect in the state of New York (the “UCC”), including, without limiting the generality of the foregoing, the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender the Beneficiary may deem necessary for the care, protection and preservation of the UCC Collateral. Upon request or demand of Lender after the occurrence and during Beneficiary, the continuance of an Event of Default, Borrower shall, Grantor shall at its expense, expense assemble the UCC Collateral and make it available to Lender the Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to Lenderthe Beneficiary. Borrower The Grantor shall pay to Lender the Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender the Beneficiary in protecting its interest in the UCC Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultUCC Collateral. Any notice of sale, disposition or other intended action by Lender the Beneficiary with respect to the UCC Collateral sent to Borrower the Grantor in accordance with the provisions hereof of this Deed of Trust at least ten (10) business days prior to the date of any such sale, disposition or other action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrowerthe Grantor, and the method of sale or disposition or other intended action set forth or specified in such notice shall conclusively be deemed to be commercially reasonable within the meaning of the UCC unless objected to in writing by the Grantor within five (5) days after receipt by the Grantor of such notice. The proceeds of any sale or disposition of the UCC Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender the Beneficiary to the payment of the Debt Obligations in such order, priority and proportions as Lender the Beneficiary in its discretion shall deem proper. BorrowerIf any change shall occur in the Grantor's (Debtor's) principal place name, the Grantor shall promptly cause to be filed at its own expense, new financing statements as required under the UCC to replace those on file in favor of business is as set forth on page one hereof the Beneficiary. Conflicts between this Paragraph 28 and any provision of the Security Agreement of even date herewith between the Grantor and the address Beneficiary shall be resolved in favor of Lender (Secured Party) is as set forth on page one hereofthe Security Agreement.

Appears in 1 contract

Samples: Deed of Trust (Smith & Wollensky Restaurant Group Inc)

Security Agreement. This Security Instrument is both a real property mortgage or deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to LenderLender and Trustee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderLender or Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender or Trustee after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender or Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender or Trustee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement

Security Agreement. This Security Instrument is both a real property deed of trust to secure debt and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Security Agreement (Behringer Harvard Reit I Inc)

Security Agreement. This Security Instrument is both Lease constitutes a real property deed of trust security agreement pursuant to and a "security agreement" within in accordance with the meaning of the Uniform Commercial Code. The UCC covering all Property includes both real Collateral and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to LenderAccounts Collateral, as security for well as the Obligations (hereinafter defined), Authorization Collateral and any other property in or against which Landlord is granted a security interest or lien by the terms of this Lease (collectively, the "Lease Collateral"), and such security agreement, and the security interests and liens created in this Lease, shall survive the expiration or earlier termination of this Lease. Tenant hereby authorizes Landlord to file such financing statements, continuation statements and other documents as may be necessary or desirable to Amberleigh perfect or continue the perfection of Landlord's security interests and liens in the Fixtures, the Equipment and the Personal Property Lease Collateral pursuant to the full extent that UCC. In addition, if required by Landlord at any time during the FixturesTerm, Tenant shall execute and deliver to Landlord, in form reasonably satisfactory to Landlord, additional security agreements, financing statements, fixture filings and such other documents as Landlord may reasonably require to perfect or continue the Equipment perfection of Landlord's security interests and liens in the Personal Property may be subject to Lease Collateral. Upon the Uniform Commercial Code (said portion occurrence of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default or in connection with an Operational Transfer, Landlord shall occur and be continuing, Lender, in addition entitled to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted available to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting or available to a landlord under the generality laws of the foregoingState(s) where the applicable Leased Property(ies) is (are) located, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after Lease Collateral, including the occurrence and during right to sell the continuance of an Event of Default. Any notice of same at public or private sale, disposition or other intended action by Lender and, in connection with respect to any such sale, Tenant agrees that the Collateral sent to Borrower in accordance with the provisions hereof at least giving of ten (10) business days prior to such actiondays' notice by Landlord, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds designating the time and place of any disposition public sale of the any Lease Collateral, or the time after which any part private sale or other intended disposition of any Lease Collateral is to be made, shall be deemed to be reasonable notice thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofTenant waives any other notice with respect thereto.

Appears in 1 contract

Samples: Master Lease Agreement (Capital Senior Living Corp)

Security Agreement. This Security Instrument is both a real property mortgage or deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to LenderLender and Trustee, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderLender or Trustee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender or Trustee after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender or Trustee at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender or Trustee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Xxxxxx with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor’s) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Deed of Trust and Security Agreement (Maguire Properties Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial CodeUCC. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By Borrower by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code UCC (said such portion of the Property so subject to the Uniform Commercial Code UCC being called in this Section 12 the "COLLATERAL"“Collateral”). This Security Instrument shall also constitute a “fixture filing” for the purposes of the UCC. As such, this Security Instrument covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial CodeUCC, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on within ten (10) days of written demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feesdisbursements, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral Collateral, sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its sole discretion shall deem proper. Borrower's (Debtor's) principal In the event of any change in name, identity, structure or place of business is incorporation, organization or formation of Borrower, Borrower shall notify Lender thereof and promptly after request shall file and record such UCC forms as set forth are necessary to maintain the priority of Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall require the filing or recording of additional UCC forms or continuation statements, Borrower shall, promptly after request, file and record such UCC forms or continuation statements as Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on page one hereof its behalf any financing or other statements naming Lender, as secured party, and Borrower, as debtor, in connection with the address of Lender (Secured Party) is as set forth on page one hereofCollateral covered by this Security Instrument.

Appears in 1 contract

Samples: And Security Agreement (Presidential Realty Corp/De/)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property and other property constituting the Property, whether now owned or hereafter acquired, to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Inland Western Retail Real Estate Trust Inc)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Mortgagor in the Property. By executing and delivering this Security InstrumentMortgage, Borrower Mortgagor hereby grants to LenderMortgagee, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, LenderMortgagee, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Mortgagee may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender Mortgagee after the occurrence and during the continuance of an Event of Default, Borrower Mortgagor shall, at its expense, assemble the Collateral and make it available to Lender Mortgagee at a convenient place (at the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower Mortgagor shall pay to Lender Mortgagee on demand any and all out-of-pocket expenses, including reasonable legal expenses attorneys’ fees and attorneys' feescosts, incurred or paid by Lender Mortgagee in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender Mortgagee with respect to the Collateral sent to Borrower Mortgagor in accordance with the provisions hereof at least ten (10) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to BorrowerMortgagor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender Mortgagee to the payment of the Debt Indebtedness in such priority and proportions as Lender Mortgagee in its discretion shall deem proper. Borrower's (Debtor's) principal place In the event of business is as set forth on page one hereof any conflict or inconsistency between the terms of this Mortgage and the address terms of Lender (Secured Party) is as set forth on page one hereofthe Security Agreement with respect to the collateral covered both therein and herein, the Security Agreement shall control and govern to the extent of any such conflict or inconsistency.

Appears in 1 contract

Samples: Security Agreement (Hospitality Investors Trust, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (which shall be at the Land if in the case of tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting as reasonably necessary to protect its interest in the Collateral and in enforcing to enforce its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable lawlaw or provided herein, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's ’s (Debtor'sdebtor) principal place of business is as set forth on page one hereof and the address of Lender (Secured Partysecured party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Fixture Filing and Security Agreement (Taubman Centers Inc)

Security Agreement. This Security Instrument is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code adopted and enacted by the state or states where any of the Mortgaged Property is located (the “Uniform Commercial Code”), made by and between Borrower, as debtor, and Lender, as secured party. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called herein referred to as the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuingoccur, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, demand any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' attorney fees, incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its Lender’s rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten five (105) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The Collateral may be sold in such manner, portions, order or parcels as Lender may determine, with or without having first taken possession of same. The right of sale arising out of any Event of Default shall not be exhausted by any one or more sales or attempted sales, any other action, proceeding, or other exercise of a remedy, and the liens granted by this Security Instrument shall continue unimpaired. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Mortgage, Security Agreement (Grubb & Ellis Co)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code adopted and enacted by the state or states where any of the Mortgaged Property is located (the "Uniform Commercial Code. The Property includes both real "), made by and personal property between Borrower, as debtor, and all other rights and interestsLender, whether tangible or intangible in nature, of Borrower in the Propertyas secured party. By executing and delivering this Security InstrumentMortgage, Borrower has granted and hereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code (said portion of the Mortgaged Property so subject to the Uniform Commercial Code being called herein referred to as the "COLLATERALCollateral""). If an Event of Default shall occur and be continuing, occur. Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, demand any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable including, without limitation, legal expenses and attorneys' fees, incurred or paid by Lender Xxxxxx in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.22

Appears in 1 contract

Samples: Mortgage, Security Agreement (Cardinal Ethanol LLC)

Security Agreement. 2.14.1 This Security Instrument is both Deed of Trust shall also be a real security agreement between Trustor and Beneficiary covering the Mortgaged Property constituting personal property deed or fixtures (hereinafter collectively called "UCC Collateral") governed by the California Uniform Commercial Code ("UCC") as the same may be more specifically set forth in any financing statement delivered in connection with this Deed of trust Trust, and a "as further security agreement" within for the meaning payment and performance of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interestsSecured Obligations, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower Trustor hereby grants to Lender, as security for the Obligations (hereinafter defined), Beneficiary a security interest in such portion of the Fixtures, the Equipment and the Personal Mortgaged Property to the full extent that the Fixtures, the Equipment and the Personal Mortgaged Property may be subject to the Uniform Commercial Code UCC. In addition to Beneficiary's other rights hereunder, Beneficiary shall have all rights of a secured party under the UCC. Trustor shall execute and deliver to Beneficiary all financing statements and such further assurances that may be reasonably required by Beneficiary to establish, create, perfect (said portion to the extent the same can be achieved by the filing of a financing statement) and maintain the validity and priority of Beneficiary's security interests, and Trustor shall bear all reasonable costs thereof, including all UCC searches. Except as otherwise provided in the Financing Documents, if Beneficiary should dispose of any of the Mortgaged Property so subject comprising the UCC Collateral pursuant to the Uniform Commercial Code being called UCC, ten (10) days' prior written notice by Beneficiary to Trustor shall be deemed to be reasonable notice; provided, however, Beneficiary may dispose of such property in accordance with the "COLLATERAL")foreclosure procedures of this Deed of Trust in lieu of proceeding under the UCC. If Beneficiary may from time to time execute and deliver at Trustor's expense, all continuation statements, termination statements, amendments, partial releases, or other instruments relating to all financing statements by and between Trustor and Beneficiary. Except as otherwise provided in the Financing Documents, if an Event of Default shall occur and be is continuing, Lender(a) Beneficiary, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demanddemand to the extent permitted by law, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, UCC including the right to take possession of the UCC Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon such collateral and (b) upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Trustor shall at its expense, assemble the UCC Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Trustor shall pay to Lender Beneficiary on demand demand, any and all expenses, including reasonable legal expenses and attorneys' fees, fees and disbursements incurred or paid by Lender Beneficiary in protecting its the interest in the UCC Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the UCC Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Term Power Purchase Agreement (Ormat Technologies, Inc.)

Security Agreement. This Security Instrument is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in Lendxx xx protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's Borrxxxx'x (Debtor'sDebtxx'x) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Trust and Security Agreement (Glimcher Realty Trust)

Security Agreement. (a) This Security Instrument Deed is both a real property deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed, Borrower hereby has granted and thereby grants to Lender, as security for the Obligations (hereinafter defined)Debt, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent of Borrower’s interest therein and to the extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said such portion of the Property so subject to the Uniform Commercial Code being called in this Section the "COLLATERAL"“Collateral”). If Borrower hereby agrees with Lender to execute and deliver to Lender, in form and substance satisfactory to Lender, such financing statements and such further assurances as Lender may from time to time reasonably consider necessary to create, perfect or preserve Lender’s security interest therein granted. This Deed shall also be effective as a financing statement covering any other property and may be filed in any other appropriate filing or recording office. All or part of the Property are or are to become fixtures. During the continuance of an Event of Default shall occur and be continuingDefault, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, Code including, without limiting the generality of the foregoinglimitation, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultLender, Borrower shall, shall at its expense, expense assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to LenderLand. Borrower shall pay to Lender on demand any and all expenses, including Lender’s reasonable legal expenses and attorneys' fees, necessarily incurred or paid by Lender in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. In the event of any change in name, identity or structure of any Borrower's (Debtor's) principal place , such Borrower shall notify Lender thereof and promptly after request shall execute, file and record such Uniform Commercial Code forms as are necessary to maintain the priority of business is Lender’s lien upon and security interest in the Collateral, and shall pay all expenses and fees in connection with the filing and recording thereof. If Lender shall reasonably require the filing or recording of additional Uniform Commercial Code forms or continuation statements, Borrower shall, promptly after request, execute, file and record such Uniform Commercial Code forms or continuation statements as set forth on page one hereof Lender shall deem necessary, and shall pay all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower’s obligations under the Note, this Deed and the address of other Loan Documents. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest, to file, if Borrower fails to do so within fifteen (Secured Party15) is Business Days after notice thereof from Lender, with the appropriate public office on its behalf any financing or other statements signed only by Lender, as set forth on page one hereofsecured party, in connection with the Collateral covered by this Deed.

Appears in 1 contract

Samples: Profits and Security Agreement (Wyndham International Inc)

Security Agreement. This Security Instrument Deed of Trust is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentDeed of Trust, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment Equipment, the Personal Property and the Personal other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"“Collateral”). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses attorneys’ fees and attorneys' feescosts, incurred or paid by Lender Xxxxxx in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any To the extent permitted by law, any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten thirty (1030) business days Business Days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Security Agreement and Fixture Filing (Glimcher Realty Trust)

Security Agreement. This Security Instrument is both To the extent the Mortgaged Property consists of UCC Collateral or items of personal property which are or are to become Fixtures under applicable law, this Mortgage shall also be construed as a real property deed of trust security agreement under the UCC. The Mortgagor, in order to secure the due and a "security agreement" within the meaning punctual payment and performance of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interestsSecured Obligations, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security the Mortgagee for its benefit and for the Obligations (hereinafter defined)benefit of the Secured Parties, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection UCC Collateral and preservation of the CollateralFixtures. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shallthe Mortgagee shall be entitled with respect to the UCC Collateral and Fixtures to exercise all remedies hereunder or any other Notes Document or available under the UCC with respect thereto and all other remedies available under applicable law. Without limiting the foregoing, the UCC Collateral and Fixtures may, at its expensethe Mortgagee’s option, (i) be sold hereunder together with any sale of any portion of the Mortgaged Property or otherwise, (ii) be sold separately pursuant to the UCC, or (iii) be dealt with by the Mortgagee in any other manner permitted under applicable law. The Mortgagee may require the Mortgagor to assemble the UCC Collateral or Fixtures and make it available to Lender the Mortgagee at a convenient place (at to be designated by the Land if tangible property) reasonably acceptable to LenderMortgagee. Borrower shall pay to Lender on demand any The Mortgagor acknowledges and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance agrees that a disposition of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower such collateral in accordance with the provisions hereof at least Mortgagee’s rights and remedies in respect to the Mortgaged Property as heretofore provided is a commercially reasonable disposition thereof; provided, however, that the Mortgagee shall give the Mortgagor not less than ten (10) business days days’ prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of the time and place of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofintended disposition.

Appears in 1 contract

Samples: Mortgage Modification Agreement (New Enterprise Stone & Lime Co., Inc.)

Security Agreement. This Security Instrument is both a real property deed Deed of trust and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), Trust shall constitute a security interest agreement as defined in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject State of Colorado ("Code") in the items described in the Granting Clauses of this Deed of Trust ("Collateral"). Any Collateral installed in or used in the Premises are to be used by the Grantor solely for Grantor's business purposes or as the equipment and fixtures leased or furnished by the Grantor, as landlord, to tenants of the Premises and such Collateral will be kept at the buildings on the Premises and will not be removed therefrom without the consent of the Beneficiary and may be affixed to such buildings but will not be affixed to any other real estate. The remedies of the Beneficiary hereunder are cumulative and separate, and the exercise of any one or more of the remedies provided for herein or under the Uniform Commercial Code being called shall not be construed as a waiver of any of the "COLLATERAL")other rights of the Beneficiary including having any Collateral deemed part of the realty upon any foreclosure thereof. If an Event of Default shall occur and be continuing, Lender, in addition notice to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession intended disposition of the Collateral or any part thereofis required by law in a particular instance, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land notice shall be deemed commercially reasonable if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof given at least ten (10) business days prior to such actionintended disposition and may be given by advertisement in a newspaper accepted for legal publications either separately or as part of a notice given to foreclose the real property or may be given by private notice if such parties are known to Beneficiary. Neither the grant of a security interest pursuant to this Deed of Trust nor the filing of a financing statement pursuant to the Code shall ever impair the stated intention of this Deed of Trust that all Collateral comprising the Premises and at all times and for all purposes and in all proceedings both legal or equitable shall be regarded as part of the real property conveyed hereunder irrespective of whether such item is physically attached to the real property or any such item is referred to or reflected in a financing statement. Grantor will on demand deliver all financing statements that may from time to time be required by Beneficiary to establish, shall, except as otherwise provided perfect and continue the priority of Beneficiary's security interest in the Collateral and shall pay all expenses incurred by applicable law, constitute reasonable notice to Borrower. The proceeds Beneficiary in connection with the renewal or extensions of any disposition financing statements executed in connection with the Premises; and shall give advance written notice of any proposed change in Grantor's name, identity or structure and will execute and deliver to Beneficiary prior to or concurrently with such change all additional financing statements that Beneficiary may require to establish and perfect the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment priority of the Debt in such priority and proportions as Lender in its discretion shall deem proper. BorrowerBeneficiary's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereofsecurity interest.

Appears in 1 contract

Samples: Jubilee Gaming Enterprises Inc

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and Equipment, the Personal Property and other property constituting the Property to the full extent that the Fixtures, the Equipment and Equipment, the Personal Property and such other property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERAL"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable lawlaw or the Loan Agreement, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) The principal place of business of Borrower (Debtor) is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Rents and Security Agreement (Glimcher Realty Trust)

Security Agreement. This Security Instrument Mortgage is both a real property deed of trust mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower in the Property. By executing and delivering this Security InstrumentMortgage, Borrower hereby grants to Lender, as security for the Obligations (hereinafter defined), a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called the "COLLATERALCollateral"). If an Event of Default shall occur and be continuing, Lender, in addition to any other rights and remedies which it may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of Default, Borrower shall, at its expense, assemble the Collateral and make it available to Lender at a convenient place (at the Land if tangible property) reasonably acceptable to Lender. Borrower shall pay to Lender on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of Default. Any notice of sale, disposition or other intended action by Lender with respect to the Collateral sent to Borrower in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, constitute reasonable notice to Borrower. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, be applied by Lender to the payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper. Borrower's (Debtor's) principal place of business is as set forth on page one hereof and the address of Lender (Secured Party) is as set forth on page one hereof.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Glimcher Realty Trust)

Security Agreement. This Security Instrument is both a real property deed of trust leasehold mortgage and a "security agreement" within the meaning of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible or intangible in nature, of Borrower Grantor in the Property. By Grantor by executing and delivering this Security Instrument, Borrower Instrument has granted and hereby grants to LenderBeneficiary, as security for the Obligations (hereinafter defined)Obligations, a security interest in the Fixtures, the Equipment and the Personal Property to the full extent that the Fixtures, the Equipment and the Personal Property may be subject to the Uniform Commercial Code (said portion of the Property so subject to the Uniform Commercial Code being called in this paragraph the "COLLATERAL"“Collateral”). Grantor hereby authorizes Beneficiary to prepare and file, in form and substance satisfactory to Beneficiary, such financing statements, continuation statements, other uniform commercial code forms and shall pay all expenses and fees in connection with the filing and recording thereof, and such further assurances as Beneficiary may from time to time, reasonably consider necessary to create, perfect, and preserve Beneficiary’s security interest herein granted. This Security Instrument shall also be effective as a “fixture filing” as to property which is or is to become fixtures. Information concerning the security interest herein granted may be obtained from the parties at the addresses of the parties set forth in the first paragraph of this Security Instrument. If an Event of Default shall occur and be continuingoccur, LenderBeneficiary, in addition to any other rights and remedies which it they may have, shall have and may exercise immediately and without demand, any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting the generality of the foregoing, the right to take possession of the Collateral or any part thereof, and to take such other measures as Lender Beneficiary may deem necessary for the care, protection and preservation of the Collateral. Upon request or demand of Lender after the occurrence and during the continuance of an Event of DefaultBeneficiary, Borrower shall, Grantor shall at its expense, expense assemble the Collateral and make it available to Lender Beneficiary at a convenient place (at the Land if tangible property) reasonably acceptable to LenderBeneficiary. Borrower Grantor shall pay to Lender Beneficiary on demand any and all expenses, including reasonable legal expenses and attorneys' fees, incurred or paid by Lender Beneficiary in protecting its the interest in the Collateral and in enforcing its the rights hereunder with respect to the Collateral after the occurrence and during the continuance of an Event of DefaultCollateral. Any notice of sale, disposition or other intended action by Lender Beneficiary with respect to the Collateral sent to Borrower Grantor in accordance with the provisions hereof at least ten (10) business days prior to such action, shall, except as otherwise provided by applicable law, shall constitute commercially reasonable notice to BorrowerGrantor. The proceeds of any disposition of the Collateral, or any part thereof, may, except as otherwise required by applicable law, may be applied by Lender Beneficiary to the payment of the Debt Obligations in such priority and proportions as Lender Beneficiary in its discretion shall deem proper. Grantor shall promptly advise Beneficiary of the accrual of any commercial tort claims involving the Property. In the event of any change in name, identity, structure, or jurisdiction or form of organization of Borrower or Grantor, Grantor and/or Borrower shall notify Beneficiary thereof, and Beneficiary shall be authorized to prepare and file such Uniform Commercial Code forms as Beneficiary may deem necessary to maintain the priority of Beneficiary’s lien upon and security interest in the Collateral, and Borrower or Grantor shall pay all expenses and fees in connection with such filing. Beneficiary shall also be authorized to prepare and file such other additional Uniform Commercial Code forms or continuation statements as Beneficiary shall deem necessary, and Borrower or Grantor shall pay all expenses and fees in connection with the filing thereof, it being understood and agreed, however, that no such additional documents shall increase Borrower's (Debtor's) principal place of business is as set forth on page one hereof ’s obligations under the Note, this Security Instrument and the address of Lender Other Loan Documents. Grantor and Borrower hereby irrevocably appoint Beneficiary as its attorney-in-fact, coupled with an interest, to file with the appropriate public office on its behalf any financing or other statements signed only by Beneficiary, as Grantor’s and Borrower’s attorney-in-fact, in connection with the Collateral covered by this Security Instrument. Notwithstanding the foregoing, Grantor and Borrower shall appear and defend in any action or proceeding which affects or purports to affect the Property and any interest or right therein, whether such proceeding effects title or any other rights in the Property (Secured Party) and in conjunction therewith, Grantor and Borrower shall fully cooperate with Beneficiary in the event Beneficiary is as set forth on page one hereofa party to such action or proceeding).

Appears in 1 contract

Samples: Trust and Security Agreement (Columbia Equity Trust, Inc.)

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