(C)
ANY EXCHANGE, RELEASE, OR NON-PERFECTION OF ANY COLLATERAL, OR ANY
RELEASE OR AMENDMENT OR WAIVER OF OR CONSENT TO ANY DEPARTURE FROM ANY GUARANTY,
FOR ALL OR ANY OF THE SECURED INDEBTEDNESS; OR
(D)
ANY OTHER CIRCUMSTANCE (OTHER THAN PAYMENT IN FULL OF THE SECURED
INDEBTEDNESS) THAT MIGHT OTHERWISE CONSTITUTE A DEFENSE AVAILABLE TO, OR A
DISCHARGE OF, THE GRANTOR.
SECTION 7.8.
SUCCESSORS AND ASSIGNS.
THIS SECURITY AGREEMENT IS BINDING UPON
AND SHALL INURE TO THE BENEFIT OF GRANTOR, AGENT, AND THE BANKS, THEIR
RESPECTIVE HEIRS, EXECUTORS, REPRESENTATIVES, ADMINISTRATORS, SUCCESSORS AND
ASSIGNS; PROVIDED, HOWEVER, THAT GRANTOR MAY NOT, WITHOUT THE PRIOR WRITTEN
CONSENT OF AGENT, ASSIGN ANY RIGHTS, POWERS, DUTIES OR OBLIGATIONS HEREUNDER.
SECTION 7.9.
GOVERNING LAW, ENTIRE AGREEMENT, ETC.
THIS SECURITY AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE
STATE OF TEXAS, EXCEPT TO THE EXTENT THAT THE VALIDITY OR PERFECTION OF THE
SECURITY INTEREST HEREUNDER, OR REMEDIES HEREUNDER, IN RESPECT OF ANY PARTICULAR
COLLATERAL ARE GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF
TEXAS.
SECTION 7.10.
FINAL AGREEMENT.
THIS SECURITY AGREEMENT AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
IN WITNESS WHEREOF, Grantor has caused this Security Agreement to be duly
executed and delivered by its officer thereunto duly authorized as of the date
first above written.
[Signature on following page.]
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GRANTOR:
ADVANCED BEVERAGE SOLUTIONS, an
Illinois limited liability company
By:
/s/ Scott Adams
Name:
Scott Adams
Title:
Secretary
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