Example ContractsClausesRenewal and Extension of Security Interests and Liens
Renewal and Extension of Security Interests and Liens
Renewal and Extension of Security Interests and Liens contract clause examples

Section # Renewal and Extension of Security Interests and Liens. Each Borrower hereby

Renewal and Extension. This Note is given in renewal and extension, but not extinguishment, of all amounts left owing and unpaid on that certain Renewal Revolving Promissory Note dated March 31, 2019 executed and delivered by Borrower and payable to the order of Lender in the original principal amount of $25,000,000.00.

Section # Renewal and Extension of Security Interests and Liens. Each Borrower hereby

Renewal and Extension. This Note is given in renewal and extension, but not extinguishment, of all amounts left owing and unpaid on that certain Renewal Revolving Promissory Note dated March 31, 2020 executed and delivered by Borrower and payable to the order of Lender in the original principal amount of $25,000,000.00.

Renewal and Extension of Security Interests and Liens. Each Obligor hereby # renews and affirms the Liens created and granted in the Loan Documents, and # agrees that this Amendment shall in no manner affect or impair the Liens securing the Obligations, and that such Liens shall not in any manner be waived, the purposes of this Amendment being to modify the Loan Agreement as herein provided, and to carry forward all Liens securing the same, which are acknowledged by such Obligor to be valid and subsisting.

Renewal and Extension of Security Interests and Liens. Each Obligor hereby # renews and affirms the Liens created and granted in the Loan Documents, and # agrees that this Amendment shall in no manner affect or impair the Liens securing the Obligations, and that such Liens shall not in any manner be waived, the purposes of this Amendment being to modify the Loan Agreement as herein provided, and to carry forward all Liens securing the same, which are acknowledged by such Obligor to be valid and subsisting.

Security and Liens. All Obligations of the Credit Parties under the Loan Documents, shall be secured by and be entitled to the benefits of, the Collateral and shall remain in all respects subject to the liens, charges and encumbrances of, the Loan Documents, and nothing herein contained, and nothing done pursuant hereto or in connection herewith shall affect or be construed to affect the liens, charges or encumbrances or conveyances effected thereby or the priority thereof or to release or affect the liability of any party or parties whomsoever may now, or hereafter be, liable on account of the Obligations. Subject to the limitations set forth in the Guaranty and the Collateral Documents in terms of the scope thereof, each Credit Party does hereby grant, transfer, assign and grant a security interest in and to Lender, its successors and assigns, in all of the Collateral in order to secure the Loan and the Obligations.

Renewal and Extension of Security Interests and Liens. Each Obligor hereby # renews and affirms the Liens created and granted in the Loan Documents, and # agrees that this Amendment shall in no manner affect or impair the Liens securing the Obligations, and that such Liens shall not in any manner be waived, the purposes of this Amendment being to modify the Loan Agreement as herein provided, and to carry forward all Liens securing the same, which are acknowledged by such Obligor to be valid and subsisting.

Liens and Security Interests. Borrower shall not create, incur, assume, or suffer to exist any mortgage, security deed, deed of trust, security interest, pledge, encumbrance, Lien or charge of any kind (including charges on property purchased under conditional sales or other title-retention agreements) on any of its property or assets, including, without limitation, the Collateral, now owned or hereafter acquired, except for (collectively, “Permitted Liens”) # Liens for taxes not yet due or which are being contested in good faith by appropriate proceedings and against which reserves deemed adequate by Lender have been set up (excluding any Lien imposed pursuant to any of the provisions of ERISA); # Liens arising in the ordinary course of business such as # Liens of carriers, warehousemen, mechanics and materialmen and other similar liens imposed by applicable Law, and # Liens in the form of deposits or pledges incurred in connection with worker’s compensation, unemployment compensation and other types of governmentally imposed social security (excluding Liens arising under ERISA) or # Liens in connection with surety bonds, bids, performance bonds and similar obligations for sums not overdue or being diligently contested in good faith by appropriate proceedings and not involving any advances or borrowed money or the deferred purchase price of property or services and, in each case, for which Borrower maintain adequate reserves in accordance with GAAP and the execution or other enforcement of which is effectively stayed; # subject to the limitation set forth in [Section 4.2(f)], Liens arising in connection with capital leases or operating leases (and attaching only to the property being leased) or Liens that constitute purchase money security interests on any property securing permitted debt incurred for the purpose of financing all or any part of the cost of acquiring such property, provided that any such purchase money security interest attaches to such property within twenty (20) days after the acquisition of such property and attaches solely to the property so acquired; # Liens arising under the Loan Documents; and # easements, rights of way, zoning ordinances and other similar encumbrances affecting the Real Property Collateral that do not create a Material Adverse Change on the value or use of the Real Property Collateral or in the operations as expected to be operated thereon, provided however, that Borrower shall obtain the subordination of any easement or right of way to Lender’s Mortgage upon request of Lender.

Security and Liens. All references to the Collateral shall include without limitation the Collateral as described in the Collateral Documents, as amended by this Amendment, and the Credit Parties hereby grant a security interest to Lender to secure the Obligations in any such Collateral (other than to the extent constituting Excluded Property) which, prior to the date of this Amendment, was not included in the definition thereof. All Obligations of the Credit Parties under the Loan Documents, each as amended by the Extension Amendments, shall be secured by and be entitled to the benefits of, the Collateral and shall remain in all respects subject to the liens, charges and encumbrances of, the Loan Documents, and nothing herein contained, and nothing done pursuant hereto or in connection herewith shall affect or be construed to affect the liens, charges or encumbrances or conveyances effected thereby or the priority thereof or to release or affect the liability of any party or parties whomsoever may now, or hereafter be, liable on account of the Obligations. Subject to the limitations set forth in the Collateral Documents in terms of the scope thereof, each Credit Party does hereby grant, transfer, assign and grant a security interest in and to Lender, its successors and assigns, in all of the Collateral in order to secure the Obligations.

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