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This LOAN AND SECURITY AGREEMENT dated January 27 , 1999 , between SILICON VALLEY BANK (" Bank "), a California - chartered bank with its principal place of business at 3003 Tasman Drive , Santa Clara , California 95054 with a loan production office located at 40 William St ., Ste . | SILICON VALLEY BANK is an organization, Bank is an organization, California is a location, bank is an organization, 3003 Tasman Drive is a location, Santa Clara is a location, California is a location, 40 William St is a location. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
350 , Wellesley , Massachusetts 02481 doing business as " Silicon Valley East " and AKAMAI TECHNOLOGIES , INC . (" Borrower "), whose address is 201 Broadway , 4th Floor , Cambridge , Massachusetts 02139 provides the terms on which Bank will lend to Borrower and Borrower will repay Bank . | Wellesley is a location, Massachusetts is a location, Silicon Valley East is a location, AKAMAI TECHNOLOGIES is an organization, Borrower is a person, 201 Broadway is a location, Cambridge is a location, Massachusetts is a location, Bank is an organization, Borrower is a person, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
This Agreement shall be construed to impart upon Bank a duty to act reasonably at all times . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will pay Bank the unpaid principal amount of all Credit Extensions and interest on the unpaid principal amount of the Credit Extensions . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Subject to the terms and conditions of this Agreement , Bank agrees to lend to Borrower , from time to time prior to the Commitment Termination Date , equipment advances ( each an " Equipment Advance " and collectively the " Equipment Advances "). | Bank is an organization, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
The proceeds of the Equipment Advances will be used solely to reimburse Borrower for the purchase of Eligible Equipment . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Bank ' s obligation to lend hereunder shall terminate on the earlier of ( i ) the occurrence and continuance of an Event of Default , and ( ii ) the Commitment Termination Date . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( a ) To obtain an Equipment Advance , Borrower will deliver to Bank a completed supplement in substantially the form attached (" Loan Supplement "), together with invoices and such additional information as Bank may request at least five ( 5 ) Business Days before the proposed funding date ( the " Funding Date "). | Borrower is a person, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
On each Funding Date , Bank will specify in the Loan Supplement for each Equipment Advance , the Basic Rate , the Loan Factor , the Payment Dates , and a table of Stipulated Loan Values , together with a UCC Financing Statement covering the Equipment described on the Loan Supplement . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If Borrower satisfies the conditions of each Equipment Advance specified from time to time by Bank , Bank will disburse such Equipment Advance by internal transfer to Borrower ' s deposit account with Bank . | Borrower is a person, Bank is an organization, Bank is an organization, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( b ) Bank ' s obligation to lend the undisbursed portion of the Committed Equipment Line will terminate if , in Bank ' s sole discretion , there has been a material adverse change in the general affairs , management , results of operation , condition ( financial or otherwise ) or the prospects of Borrower , whether or not arising from transactions in the ordinary course of business , or there has been material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Bank prior to the execution of this Agreement . | Bank is an organization, Bank is an organization, Borrower is a person, Borrower is a person, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will make payments monthly in advance of principal and accrued interest for each Equipment Advance ( collectively , " Scheduled Payments "), on the first Business Day of the month following the Funding Date ( or commencing on the Funding Date if the Funding Date is the first Business Day of the month ) with respect to such Equipment Advance and continuing thereafter during the Repayment Period on the first Business Day of each calendar month ( each a " Payment Date "), in an amount equal to the Loan Factor multiplied by the Loan Amount for such Equipment Advance as of such Payment Date . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
An Equipment Advance may be prepaid only upon payment of a prepayment premium specified by Bank . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will pay interest on the unpaid principal amount of each Equipment Advance from the first Payment Date after the Funding Date of such Equipment Advance until the Equipment Advance has been paid in full , at the per annum rate of interest equal to the Basic Rate determined by Bank as of the Funding Date for each Equipment Advance in accordance with the definition of the Basic Rate . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
" Basic Rate " is , as of the Funding Date , the per annum rate of interest ( based on a year of 360 days ) equal to the sum of ( a ) the U . S . Treasury note yield to maturity for a term equal to the Treasury Note Maturity as quoted in The Wall Street Journal on the day the applicable Loan Terms Schedule is prepared , plus ( b ) the applicable Loan Margin for the type of Eligible Equipment being financed . | The Wall Street Journal is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
In addition to the Scheduled Payments , on the Funding Date for each Equipment Advance ( unless the Funding Date is the first Business Day of the month ) Borrower shall pay to Bank , on behalf of Bank , an amount ( the " Interim Payment ") equal to the initial Equipment Advance multiplied by the product of ( i ) the quotient derived from dividing the initial Loan Factor with respect to such Equipment Advance multiplied by 30 , and ( ii ) the number of days from the Funding Date of the Equipment Advance Loan until the first Payment Date with respect to such Equipment Advance . | Borrower is a person, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
On the Maturity Date with respect to such Equipment Advance , Borrower will pay , in addition to the unpaid principal and accrued interest and all other amounts due on such date with respect to such Equipment Advance , an amount equal to the Final Payment . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
" Original Stated Cost " is ( i ) the original cost of the New Equipment , the original cost to the Borrower of the item of New Equipment net of any and all freight , installation , tax or ( ii ) the fair market value assigned to such item of Used Equipment by mutual agreement of Borrower and Bank at the time of making of the Equipment Advance . | Borrower is a person, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If any Financed Equipment is subject to an Event of Loss and Borrower is required to or elects to prepay the Equipment Advance with respect to such | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise ( other than following an Event of Loss ), then Borrower will immediately pay to Bank ( i ) all unpaid Scheduled Payments with respect to each Equipment Advance due prior to the date of prepayment , ( ii ) the Stipulated Loss Value with respect to each Equipment Advance , and ( iii ) all other sums , if any , that shall have become due and payable with respect to any Equipment Advance . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( g ) Borrower will repay the Equipment Advances on the terms provided in the Loan Supplement . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
An Equipment Advance may be prepaid only upon payment of a prepayment premium specified from time to time by Bank . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If any change in the law increases Bank ' s expenses or decreases its return from the Equipment Advances , Borrower will pay Bank upon request the amount of such increase or decrease . | Bank is an organization, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( h ) Bank may debit any of Borrower ' s deposit accounts including Account Number _____________ for principal and interest payments or any amounts Borrower owes Bank . | Bank is an organization, Borrower is a person, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Bank will notify Borrower when it debits Borrower ' s accounts . | Bank is an organization, Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Payments received after 12 : 00 noon Eastern time are considered received at the opening of business on the next Business Day . | Eastern is a location. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will pay : | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( a ) Bank Expenses . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
All Bank Expenses ( including reasonable attorneys ' fees and expenses ) incurred through and after the date of this Agreement , are payable when due . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Bank ' s obligation to make the initial Credit Extension is subject to the condition precedent that it receive the agreements , documents and fees it requires . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Bank ' s obligations to make each Credit Extension , including the initial Credit Extension , is subject to the following : | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Each Credit Extension is Borrower ' s representation and warranty on that date that the representations and warranties of Section 5 remain true . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower grants Bank a continuing security interest in all presently existing and later acquired Collateral to secure all Obligations and performance of each of Borrowers duties under the Loan Documents . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Bank may place a " hold " on any deposit account pledged as Collateral . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower represents and warrants as follows : | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower and each Subsidiary is duly existing and in good standing in its state of formation and qualified and licensed to do business in , and in good standing in , any state in which the conduct of its business or its ownership of property requires that it be qualified . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
The execution , delivery and performance of the Loan Documents have been duly authorized , and do not conflict with Borrower ' s formation documents , nor constitute an event of default under any material agreement by which Borrower is bound . | Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower is not in default under any agreement to which or by which it is bound in which the default could cause a Material Adverse Change . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower has good title to the Collateral , free from liens . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Except as shown in the Schedule , there are no actions or proceedings pending or , to Borrower ' s knowledge , threatened by or against Borrower or any Subsidiary in which an adverse decision could cause a Material Adverse Change . | Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
All consolidated financial statements for Borrower , and any Subsidiary , delivered to Bank fairly present in all material respects Borrower ' s consolidated financial condition and Borrower ' s consolidated results of operations . | Borrower is a person, Bank is an organization, Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
There has not been any material deterioration in Borrower ' s consolidated financial condition since the date of the most recent financial statements submitted to Bank . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
The fair salable value of Borrowers assets ( including goodwill minus disposition costs ) exceeds the fair value of its liabilities ; the Borrower is not left with unreasonably small capital after the transactions in this Agreement ; and Borrower is able to pay its debts ( including trade debts ) as they mature . | Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower is not an " investment company " or a company " controlled " by an " investment company " under the Investment Company Act . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower is not engaged as one of its important activities in extending credit for margin stock ( under Regulations G , T and U of the Federal Reserve Board of Governors ). | Borrower is a person, Federal Reserve Board of Governors is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower has complied with the Federal Fair Labor Standards Act . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower has not violated | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
None of Borrower ' s or any Subsidiary ' s properties or assets has been used by Borrower or any Subsidiary or , to the best of Borrower ' s knowledge , by previous Persons , in disposing , producing , storing , treating , or transporting any hazardous substance other than legally . | Borrower is a person, Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower and each Subsidiary has timely filed all required tax returns and paid , or made adequate provision to pay , all taxes , except those being contested in good faith with adequate reserves under GAAP . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower and each Subsidiary has obtained all consents , approvals and authorizations of , made all declarations or filings with , and given all notices to , all government authorities that are necessary to continue its business as currently conducted . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
No representation , warranty or other statement of Borrower in any certificate or written statement given to Bank contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will do all of the following : | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will maintain its and all Subsidiaries ' legal existence and good standing in its jurisdiction of formation and maintain qualification in each jurisdiction in which the failure to so qualify could have a material adverse effect on Borrower ' s business or operations . | Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will comply , and have each Subsidiary comply , with all laws , ordinances and regulations to which it is subject , noncompliance with which could have a material adverse effect on Borrower ' s business or operations or cause a Material Adverse Change . | Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( a ) Borrower will deliver to Bank : ( i ) as soon as available , but not later than 30 days after the last day of each month , a company prepared consolidated balance sheet and income statement covering Borrower ' s consolidated operations during the period , in a form and certified by a Responsible Officer acceptable to Bank ; ( ii ) as soon as available , but not later than 90 days after the last day of Borrower ' s fiscal year , audited consolidated financial statements prepared under GAAP , consistently applied , together with an unqualified opinion on the financial statements from Pricewaterhouse Coopers , LLP or another independent certified public accounting firm reasonable acceptable to Bank ; ( iii ) a prompt report of any legal actions pending or threatened against Borrower or any Subsidiary that could result in damages or costs to Borrower or any Subsidiary of $ 100 , 000 or more ; and ( iv ) budgets , sales projections , operating plans or other financial information Bank requests . | Borrower is a person, Bank is an organization, Borrower is a person, Bank is an organization, Borrower is a person, Bank is an organization, Borrower is a person, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( b ) Bank has the right to audit Borrower ' s Collateral upon an Event of Default has occurred and is continuing . | Bank is an organization, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will make , and cause each Subsidiary to make , timely payment of all material federal , state , and local taxes or assessments and will deliver to Bank , on demand , appropriate certificates attesting to the payment . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will keep its business and the Collateral insured for risks and in amounts , as Bank requests . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Insurance policies will be in a form , with companies , and in amounts that are satisfactory to Bank . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
All property policies will have a lender ' s loss payable endorsement showing Bank as an additional loss payee and all liability policies will show the Bank as an additional insured and provide that the insurer must give Bank at least 20 days notice before canceling its policy . | lender is a person, Bank is an organization, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
At Bank ' s request , Borrower will deliver certified copies of policies and evidence of all premium payments . | Bank is an organization, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Proceeds payable under any policy will , at Bank ' s option , be payable to Bank on account of the Obligations . | Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will maintain its primary depository and operating accounts with Bank . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will execute any further instruments and take further action as Bank requests to perfect or continue Bank ' s security interest in the Collateral or to effect the purposes of this Agreement . | Borrower is a person, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will bear the risk of the Collateral being lost , stolen , destroyed , or damaged . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If any item of Collateral is lost , stolen , destroyed , or damaged , then Borrower will pay Bank an amount equal to the sum of ( i ) all accrued and unpaid Scheduled Payments due prior to the next such Payment Date and ( ii ) a prepayment in an amount equal to the Stipulated Loan Value as to such Collateral . | Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If during the term of this Agreement any item of Financed Equipment is lost , stolen , destroyed , damaged beyond repair , rendered permanently unfit for use , or seized by a governmental authority for any reason whatsoever for a period equal to at least the remainder of the term of this Agreement ( an " Event of Loss "), then in each case Bank will receive from the proceeds of insurance maintained pursuant to Section 6 , from any award paid by the seizing governmental authority or , to the extent not received from the proceeds of insurance or award or both , from Borrower , on or before the Payment Date next succeeding such Event of Loss for each such item of Financed Equipment subject to an Event of Loss , an amount equal to the sum of : ( i ) all accrued and unpaid Scheduled Payments with respect to such Loan due prior to the next such Payment Date , ( ii ) a prepayment in an amount equal to the Stipulated Loss Value and ( iii ) all other sums , if any , that shall have become due and payable , including interest at the Default Rate with respect to any past due amounts . | Bank is an organization, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
On the date of receipt by Bank of the amount specified above with respect to each such item of Financed Equipment subject to an Event of Loss , this Agreement shall terminate as to such Financed Equipment . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Any proceeds of insurance maintained by Borrower pursuant to this Section and received by Borrower will be paid to Bank , promptly upon their receipt by Borrower . | Borrower is a person, Borrower is a person, Bank is an organization, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If any proceeds of insurance or awards received from governmental authorities are in excess of the amount owed under this Section , Bank shall promptly remit to Borrower the amount in excess of the amount owed to Bank . | Bank is an organization, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
7 . 1 BORROWER WILL NOT DO ANY OF THE FOLLOWING : | BORROWER is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Change its name or the chief executive office or principal place of business , move or dispose of any interest in the Collateral , permit any lien or security interest to attach to the Collateral , or enter into any transaction outside the ordinary course of Borrower ' s business . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
9 < PAGE > 10 Become an " investment company " or a company controlled by an " investment company ," under the Investment Company Act of 1940 or undertake as one of its important activities extending credit to purchase or carry margin stock , or use the proceeds of any Advance for that purpose ; fail to meet the minimum funding requirements of ERISA , permit a Reportable Event or Prohibited Transaction , as defined in ERISA , to occur , fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation , if the violation could have a material adverse effect on Borrower ' s business or operations or cause a Material Adverse Change , or permit any of its Subsidiaries to do so . | ERISA is an organization, ERISA is an organization, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower fails to pay any of the Obligations when due ; | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If Borrower violates any covenant in Section 7 or does not perform or observe any other material term , condition or covenant in this Agreement , any Loan Documents , or in any agreement between Borrower and Bank and as to any default under a term , condition or covenant that can be cured , has not cured the default within 10 days after it occurs , or if the default cannot be cured within 10 days or cannot be cured after Borrower ' s attempts within 10 day period , and the default may be cured within a reasonable time , then Borrower has an additional period ( of not more than 30 days ) to attempt to cure the default . | Borrower is a person, Borrower is a person, Bank is an organization, Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If there ( i ) occurs a material adverse change in the business , operations , or condition ( financial or otherwise ) of the Borrower , or ( ii ) is a material impairment of the prospect of repayment of any portion of the Obligations . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If any material portion of Borrower ' s assets is attached , seized , levied on , or comes into possession of a trustee or receiver and the attachment , seizure or levy is not removed in 10 days , or if Borrower is enjoined , restrained , or prevented by court order from conducting a material part of its business or if a judgment or other claim becomes a Lien on a material portion of Borrower ' s assets , or if a notice of lien , levy , or assessment is filed against any of Borrower ' s assets by any government agency and not paid within 10 days after Borrower receives notice . | Borrower is a person, Borrower is a person, Borrower is a person, Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
These are not Events of Default if stayed or if a bond is posted pending contest by Borrower ( but no Credit Extensions will be made during the cure period ); | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If Borrower becomes insolvent or if Borrower begins an Insolvency Proceeding or an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within 30 days ( but no Credit Extensions will be made before any Insolvency Proceeding is dismissed ); | Borrower is a person, Borrower is a person, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If there is a default in any agreement between Borrower and a third party that gives the third party the right to accelerate any Indebtedness exceeding $ 100 , 000 or that could cause a Material Adverse Change ; | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If a money judgment ( s ) in the aggregate of at least $ 50 , 000 is rendered against Borrower and is unsatisfied and unstayed for 10 days ( but no Advances will be made before the judgment is stayed or satisfied ); or | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If Borrower or any Person acting for Borrower makes any material misrepresentation or material misstatement now or later in any warranty or representation in this Agreement or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document . | Borrower is a person, Borrower is a person, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
9 BANK ' S RIGHTS AND REMEDIES | BANK is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
When an Event of Default occurs and continues Bank may , without notice or demand , do any or all of the following : | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( a ) Declare all Obligations immediately due and payable ( but if an Event of Default described in Section 8 . 5 occurs all Obligations are immediately due and payable without any action by Bank ); | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( b ) Stop advancing money or extending credit for Borrower ' s benefit under this Agreement or under any other agreement between Borrower and Bank ; | Borrower is a person, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower will assemble the Collateral if Bank requires and make it available as Bank designates . | Borrower is a person, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Bank may enter premises where the Collateral is located , take and maintain possession of any part of the Collateral , and pay , purchase , contest , or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower grants Bank a license to enter and occupy any of its premises , without charge , to exercise any of Bank ' s rights or remedies ; | Borrower is a person, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
( d ) Apply to the Obligations any ( i ) balances and deposits of Borrower it holds , or ( ii ) any amount held by Bank owing to or for the credit or the account of Borrower ; | Borrower is a person, Bank is an organization, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Effective only when an Event of Default occurs and continues , Borrower irrevocably appoints Bank as its lawful attorney to : ( i ) transfer the Collateral into the name of Bank or a third party as the Code permits . | Borrower is a person, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Bank may exercise the power of attorney to sign Borrower ' s name on any documents necessary to perfect or continue the perfection of any security interest regardless of whether an Event of Default has occurred . | Bank is an organization, Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Bank ' s appointment as Borrower ' s attorney in fact , and all of Bank ' s rights and powers , coupled | Bank is an organization, Borrower is a person, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
11 < PAGE > 12 with an interest , are irrevocable until all Obligations have been fully repaid and performed and Bank ' s obligation to provide Credit Extensions terminates . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
9 . 3 BANK EXPENSES . | BANK is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If Borrower fails to pay any amount or furnish any required proof of payment to third persons Bank may make all or part of the payment or obtain insurance policies required in Section 6 . 4 , and take any action under the policies Bank deems prudent Any amounts paid by Bank are Bank Expenses and immediately due and payable , bearing interest at the then applicable rate and secured by the Collateral . | Borrower is a person, Bank is an organization, Bank is an organization, Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
No payments by Bank are deemed an agreement to make similar payments in the future or Bank ' s waiver of any Event of Default . | Bank is an organization, Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
9 . 4 BANK ' S LIABILITY FOR COLLATERAL . | BANK is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
If Bank complies with reasonable banking practices it is not liable for ( a ) the safekeeping of the Collateral ; ( b ) any loss or damage to the Collateral ; ( c ) any diminution in the value of the Collateral ; or ( d ) any act or default of any carrier , warehouseman , bailee , or other person . | Bank is an organization. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |
Borrower bears all risk of loss , damage or destruction of the Collateral . | Borrower is a person. | Please extract entities and their types from the input sentence, entity types should be chosen from {person/organization/location}. |