Security Agreement. This Deed of Trust is both a real property deed of trust and a “security agreement” within the meaning of the UCC. The Property includes both real and personal property and all other rights and interest, whether tangible or intangible in nature, of Trustor in the Property. TRUSTOR HEREBY GRANTS TO BENEFICIARY, AS SECURITY FOR THE SECURED OBLIGATIONS, A SECURITY INTEREST IN THE PROPERTY TO THE FULL EXTENT THAT THE PROPERTY MAY BE SUBJECT TO THE UCC OR THE UNIFORM COMMERCIAL CODE OF ANY OTHER STATE OR STATES WHERE TRUSTOR IS LOCATED (said portion of the Property so subject to the UCC being called in this paragraph the “Collateral”). If an Event of Default shall occur and be continuing beyond any applicable grace or cure periods, 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 Beneficiary upon default under the UCC, 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 Beneficiary may deem reasonably necessary or advisable for the care, protection and preservation of the Collateral. Trustor shall pay to Beneficiary on demand any and all expenses, including reasonable attorneys’ fees and expenses, incurred or paid by Beneficiary in protecting its interest in the Collateral and in enforcing its rights hereunder with respect to the Collateral.
Security Deposit. The Security Deposit shall be held by Landlord without obligation for interest thereon as security for the performance of Tenants obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of Landlords damages in case of Tenants default. Upon each occurrence of a Default (as defined in Section 20), Landlord may use all or part of the Security Deposit to pay delinquent payments due under this Lease, future rent damages under California Civil Code Section 1951.2, and the cost of any damage, injury, expense or liability caused by such Default, without prejudice to any other remedy provided herein or provided by law. Landlords right to use the Security Deposit under this Section 6 includes the right to use the Security Deposit to pay future rent damages following the termination of this Lease pursuant to Section 21(c) below. Upon any use of all or any portion of the Security Deposit, Tenant shall pay Landlord on demand the amount that will restore the Security Deposit to its original amount. Upon bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be deemed to be applied first to the payment of Rent and other charges due Landlord for periods prior to the filing of such proceedings. Landlords obligation respecting the Security Deposit is that of a debtor, not a trustee; no interest shall accrue thereon. The Security Deposit shall be the property of Landlord, but shall be paid to Tenant when Tenants obligations under this Lease have been completely fulfilled. Landlord shall be released from any obligation with respect to the Security Deposit upon transfer of this Lease and the Premises to a person or entity assuming Landlords obligations under this Section 6. Tenant hereby waives the provisions of any law, now or hereafter in force, including, without limitation, California Civil Code Section 1950.7, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant. The Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant (or, at Landlords option, to the last assignee of Tenants interest hereunder) within 60 days after the expiration or earlier termination of this Lease.
Security Deposit. As of the date of this First Amendment, the definition of Security Deposit on the first page of the Lease is deleted in its entirety and replaced with the following:
The Security Agreement is effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral (as defined in the Security Agreement) and, when financing statements in appropriate form are filed in the applicable filing offices under the applicable UCC, the Administrative Agent shall have a fully perfected Lien on, and security interest in, all right, title and interest of the grantors thereunder in such portion of such Collateral in which a security interest may be perfected by the filing of a financing statement under the applicable UCC, in each case prior in right to any other Lien, other than, subject to the Intercreditor Agreement, Permitted Liens.
Security Documents. At any time after the Closing Date, the Administrative Agent shall fail to have an Acceptable Security Interest in any material Collateral, except as a result of # a sale, transfer or other disposition of the applicable Collateral in a transaction permitted under the Loan Documents or # the Administrative Agents failure to maintain possession of any stock certificate, promissory note or other instrument delivered to it under the Security Documents;
SECURITY INTEREST. To secure the prompt payment and performance to [[Organization B:Organization]] of all of the Obligations, [[Organization A:Organization]] hereby grants to [[Organization B:Organization]] a continuing security interest in the Collateral. [[Organization A:Organization]] is not authorized to sell, assign, transfer or otherwise convey any Collateral without [[Organization B:Organization]]’s prior written consent, except for the sale of finished inventory in the [[Organization A:Organization]]’s usual course of business. [[Organization A:Organization]] agrees to sign any instruments and documents requested by [[Organization B:Organization]] to evidence, perfect, or protect the interests of [[Organization B:Organization]] in the Collateral. [[Organization A:Organization]] agrees to deliver to [[Organization B:Organization]] the originals of all instruments, chattel paper and documents evidencing or related to Receivables and Collateral. [[Organization A:Organization]] shall not grant or permit any lien or security in the Collateral or any interest therein other than Permitted Liens.
Security Deposits. All security deposits of Tenants, whether held in cash or any other form, # shall be held in compliance with all Legal Requirements, # shall be held in a separate account than ’s Operating Account and # shall not be commingled with any other funds of . During the continuance of an Event of Default, shall, upon ’s request, if permitted by applicable Legal Requirements, cause all such security deposits (and any interest theretofore earned thereon) to be paid over to , to be held (in a separate Account) subject to the terms of the Leases until no Event of Default is continuing. Any bond or other instrument which is permitted to hold in lieu of cash security deposits under any applicable Legal Requirements # shall be maintained in full force and effect in the full amount of such deposits unless replaced by cash deposits as herein above described, # shall be issued by an institution reasonably satisfactory to , # shall, if permitted pursuant to any Legal Requirements, name as payee or mortgagee thereunder (or at ’s option, be fully assignable to ), and # shall in all respects comply with any applicable Legal Requirements and otherwise be satisfactory to . shall, upon request, provide with evidence satisfactory to of ’s compliance with the foregoing.
SECURITY DEPOSIT. LESSEE shall pay LESSOR a security deposit of $33.000, drawn on a U.S. bank, upon LESSEES execution of this lease, which shall be held as security for LESSEES performance herein and refunded to LESSEE without interest at the end of this lease, subject to LESSEES satisfactory compliance with the terms hereof. LESSEE shall not apply the security deposit to any payment due under this lease. In the event of any breach of this lease by LESSEE, however, LESSOR may apply the security deposit first to any outstanding invoice or other payment due to LESSOR, and then to outstanding rent, in which event LESSEE shall fully restore said deposit forthwith. LESSEES failure to remit or restore the security deposit shall constitute a substantial (ease default if LESSEE fails to pay the security deposit and the initial rental payment as and when required herein, LESSEE agrees that LESSOR may at its sole option, declare this lease null and void for failure of consideration.
SECURITY AGREEMENT. LESSEE hereby grants LESSOR a continuing security interest in all existing and hereafter acquired property of LESSEE kept in any of LESSORs buildings (excluding LESSEEs intellectual property, patents and accounts receivable) to secure the performance of all LESSEEs obligations under this lease or any subsequent lease between the parties. all necessary amendments in connection with this security interest. This security agreement subsequent lease between the parties, and shall not negate or replace any continuing security interest of LESSOR under any prior lease between the parties. Default in the payment or performance of any of LESSEEs obligations under this lease or any subsequent lease shall be a default under this security agreement and shall entitle LESSOR to immediately exercise all of the rights and remedies of a secured party under the Uniform Commercial Code as adopted in Massachusetts. In the event of default, LESSEE shall assist and facilitate LESSORs exercise of its rights under this section.
Physical Security. For each location where Confidential Information will be processed or stored or services for [[Bank of America:Organization]] produced by [[Organization A:Organization]], describe in detail the arrangements in place for physical security.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.