Loan Security Agreement Sample

Decisions of bankruptcy, liquidation or liquidation or similar proceedings. (p) Any application for the borrower under the Bankruptcy and Insolvency Act (Canada) or similar legislation requiring restructuring, adaptation, order, composition or similar relief for the borrower in accordance with Canadian or other law, or where a process of liquidation, liquidation or dissolution of the borrower is initiated or when an injunction is sought that judges the borrower for default or the order of the borrower. , or , liquidator, trustee or similar officer of Borrower or over any or any part of its property or a petition in bankruptcy is presented against borrower under a bankruptcy or similar statute (except if: i) such application, petition or process is contested in faith by appropriate proceedings by Borerrow; (ii) such a request, petition or procedure does not significantly affect the lender`s security interest; and (iii) this application, the petition or any procedure is successfully withdrawn or rejected by the borrower within thirty days of filing, filing or exposure). q) the borrower`s meeting with a formal or informal creditors` committee. (r) the offer or conclusion of a possible composition, extension or other agreement to alleviate or renew the borrower`s debts, or the offer of another legal or extrajudicial proceeding or other agreement by, against or including the borrower seeking or considering a restructuring or agreement with creditors. (s) the borrower has an obligation to an agreement with the lender, whether or not there is such an agreement. (t) the borrower will not meet its obligations, as they are normally due. (u) there is at any time an event or circumstance that, in the lender`s view, has a significant negative effect on the borrower. (v) the occurrence of an occasional event or event involving the borrower, so that the lender is satisfied in good faith that the prospect of payment of all or part of the commitments or performance by the borrower under this agreement or other agreement between the lender and the borrower is compromised, or that significant changes in the borrower`s financial or commercial situation occur (including this event : , however, is not limited to the assumption of additional financing for a credit card advance, a cash advance company or an additional loan on labour capital. (w) the occurrence of uninsured losses, thefts, damages or destruction of the borrower`s physical assets. x) This agreement and any other document proving the undertaking must, at any time after execution and delivery, and for any reason (except its terms or because of its attributable nature to Lender), cease to enter into force and be declared effective or cancelled, or the legality, validity, commitment or applicability of this agreement , as well as any other document proving its obligations or provision. , are challenged by the borrower or any other party.

(y) Any event or circumstance described in this section 29 occurs with respect to each signatory and any person controlling the borrower or a related borrower. (z) Each signatory will withdraw, claim or fail to fulfill its obligations arising from its guarantee or support agreement for Lender, or a policyholder will cease to exist. 17. REPAIRS AND MAINTENANCE. The borrower agrees: (i) to maintain and maintain the security in good condition and to make the others and to do so, as long as this agreement remains in force. The borrower also agrees to pay, at maturity, all claims for work or warranty services or equipment, so that there is no collateral or charge, including, but not limited, to pawning rights or expenses carried out by craftsmen, craftsmen, contractors, contractors, equipment suppliers , architects, engineers, subcontractors or other similar rights related to the construction, improvement or manufacture of real estate or other similar pawns

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