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(b) The parties acknowledge that any transfer of ROFO assets under the partnership`s initial offer right is subject to the terms of any existing arrangement with respect to ROFO assets and is subject to obtaining all necessary consents from security holders, government agencies, lenders or other third parties. Post a project on the ContractsCounsel marketplace to get free quotes from lawyers to draft, review or negotiate omnibus agreements. All lawyers are approved by our team and reviewed by our clients so you can explore them before you hire them. Without limiting the foregoing, each grantor reaffirms that it has granted a security right in all security rights secured by it and agrees that the security right secures all obligations under the comprehensive security agreement. Assets that may be registered as security under a security agreement include inventory of products, furnishings, equipment used by a business, furniture and real property owned by the business. The borrower is responsible for keeping the guarantee in good condition in the event of default. Property listed as security may be removed from the premises only if it is necessary in the ordinary course of business. A bus contract covers a wide range of topics and many parts. The common elements include recitals, definitions, indemnities and multilateral agreements so as not to create a competing company in the future. The borrower may have limited options to provide collateral that would satisfy lenders. Even if an ancillary contract grants only partial security in the asset, lenders may be reluctant to offer financing on the asset.

There would be the possibility of cross-collateral, which would force the liquidation of the property in order to try to release its value and provide compensation to the lenders. Scott is a graduate of Cardozo Law School and also holds a degree in English from Penn. His practice focuses on commercial law and contracts, with a focus on commercial transactions and negotiations, document preparation and review, employment, business formation, e-commerce, technology, healthcare, privacy, data security and compliance. Although he has worked with large, established companies, he particularly enjoys working with startups. Prior to starting his own practice in 2011, Scott worked in-house with companies large and small for over 5 years. He also handles real estate leases, terms of use, and privacy policies for websites and apps, as well as pre- and post-wedding agreements. “Retained Assets” means assets and interests held by Proppants or any of its affiliates that have not been transferred, contributed or otherwise transferred to the Partnership Group under a particular contribution agreement. A secured promissory note may include a security agreement as part of its terms. If a security arrangement lists commercial property as security, the lender may file a UCC-1 declaration that serves as a lien on the property. (a) If a Proppants Company proposes to transfer an applicable ROFO Asset (other than to an Affiliate as described in Section 5.1(a)) during the ROFO Period (a “Proposed Transaction”), Proppants Company will first notify or cause notice to the Partnership (the “ROFO Notice”) in writing of its intention to complete such proposed transaction prior to entering into such proposed transaction. The ROFO Notice shall contain all material terms and other details that may reasonably be necessary for the Partnership to make an appropriate offer to complete the proposed transaction with the applicable Proppants Company, the terms and details of which shall include any important terms, conditions or other details provided by Proppants to non-affiliates in connection with the Proposed Transaction.

would like to make it available. The Company has 15 days after receipt of the ROFO notice to make an offer to complete the proposed transaction with this proppant company (the “ROFO Response”). ROFO`s response sets out the terms (including, but not limited to, the purchase price that the partnership proposes to pay for the assets of ROFO and other terms of purchase) under which the partnership would be willing to enter into a binding agreement for the proposed transaction. If the partnership does not provide a ROFO response within this 15-day period, the partnership will be deemed to have waived its right to an initial offer with respect to such ROFO asset and the Proppants Company in question will be free to enter into a proposed transaction with a third party on terms to be determined in Proppants` sole discretion. In accordance with the terms and conditions set forth in this special loan agreement dated 10. March 2009 by and between the Hypothecary Borrower and the Mortgage Holder, as amended by a specific General Loan Amendment and Renewal Agreement of the same date (the “Loan Amendment Agreement”; collectively, the “Loan Agreement”), the Mortgage Holder granted the Hypothecary Borrower a loan of up to $78,245,641.77 principal amount (the “Loan”). Security agreements often include agreements that include provisions for funding funds, a repayment schedule, or insurance requirements. The borrower may also allow the lender to keep the loan security until repayment. Security rights may also relate to intangible assets such as patents or receivables. Many lenders are reluctant to enter into deals that would call into question their ability to receive adequate compensation in the event of a borrower`s default.

Business owners seeking financing from multiple sources can find themselves in a difficult position when borrowers need collateral agreements for their assets. Small businesses, in particular, may have few properties or assets that can be used as collateral to obtain loans. A hedging agreement reduces the lender`s risk of default. A security arrangement is a document that grants a lender a security right in a particular asset or asset that is pledged as security. The terms and conditions are determined at the time the guarantee contract is drawn up. Security arrangements are a necessary part of the business world because without them, lenders would never lend to specific companies. In the event of default by the borrower, the pledged collateral can be seized and sold by the lender. The trustee accounts for participants` loans as a single asset of the trust, known as a group loan. “Corporate Documents” means the certificates or articles, articles, certificates of incorporation, limited liability agreements, limited partnership certificates, limited partnership agreements or other governing or administrative documents of a particular entity. The following is a list of the general sections included in omnibus agreements. These sections are related to the following sample agreement that you can explore.

By using this website, you consent to security monitoring and auditing. For security reasons and to ensure that the public service remains accessible to users, this government computer system uses network traffic monitoring programs to identify unauthorized attempts, upload or modify information, or otherwise cause damage, including attempts to deny service to users. NOW, HAVING REGARD TO the premises and agreements, conditions and agreements contained herein, and for other valid considerations, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 6.3 Entire Agreement. This Agreement constitutes the entire agreement between the Parties with respect to the matters contained herein and supersedes all prior agreements or understandings, oral or written, with respect to the matters contained herein, with the exception of the Contribution Agreement.

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