Collateral Definition Example

Collateral. All of the property set forth below: (i) All present and hereafter acquired inventory (including without limitation, all raw materials, work in process and finished goods) held, possessed, owned, held on consignment, or held for sale, lease, return or to be furnished under contracts of services, in whole or in part, by Debtor wherever located, all records, to the extent relating in any way to the foregoing (including,... without limitation, any computer software, whether on tape, disk, card, strip, cartridge or any other form), together with the PROCEEDS of the foregoing, including accounts receivable, to the extent such PROCEEDS (including accounts receivable) arose (A) after any sale, disposition or other realization of any of Debtor's assets, (B) after demand for payment of the Indebtedness (as hereinafter defined) by Secured Party, (C) upon any dissolution, liquidation, winding-up, reorganization, bankruptcy, insolvency or receivership of Debtor or any other marshaling of Debtor's assets that is similar thereto, (D) upon the enforcement of, or any action taken with respect to, any of Secured Party's or The Frost National Bank's security interest under the Frost Bank Loan (as hereinafter defined) in or other rights to such assets, (E) with respect to insurance proceeds as a result of the loss of, destruction of or damage to any of such assets, or (F) as a result of the expropriation or other condemnation of any of such assets. (ii) All equipment and fixtures of whatsoever kind and character now or hereafter possessed, held, acquired, leased or owned by Debtor and used or usable in Debtor's business, together with all replacements, accessories, additions, substitutions and accessions to all of the foregoing, all records, to the extent relating in any way to the foregoing (including, without limitation, any computer software, whether on tape, disk, card, strip, cartridge or any other form), together with the PRODUCTS and PROCEEDS of all of the foregoing (including without limitation, insurance payable by reason of loss or damage to the foregoing property). To the extent that the foregoing property is located on, attached to, annexed to, related to, or used in connection with, or otherwise made a part of, and is or shall become fixtures upon, real property, such real property and the record owner thereof is described on Exhibit A attached hereto and made a part hereof. The designation of PROCEEDS under 1. (b)(i) and 1. (b)(ii) above does not authorize Debtor to sell, transfer or otherwise convey any of the foregoing property except finished goods intended for sale in the ordinary course of Debtor's business or as otherwise provided herein. View More