SECURITY AGREEMENT WITH A MORE ITEMIZED LIST OF COLLATERAL AND
COMPLETE AND FILE ON BEHALF OF THE GRANTOR U.C.C. FINANCING STATEMENTS OR
SIMILAR DOCUMENTS NECESSARY IN THE GOOD FAITH JUDGMENT OF THE SECURED PARTY TO
PERFECT THE SECURITY INTERESTS PURPORTED TO BE CREATED HEREBY.
ARTICLE IV
COVENANTS
SECTION 4.1.
CERTAIN COVENANTS.
THE GRANTOR
COVENANTS AND AGREES THAT, SO LONG AS ANY PORTION OF THE OBLIGATIONS SHALL
REMAIN UNPAID, THE GRANTOR WILL PERFORM THE OBLIGATIONS SET FORTH IN THIS
ARTICLE IV.
SECTION 4.1.1.
AS TO EQUIPMENT AND INVENTORY.
THE
GRANTOR HEREBY AGREES THAT IT SHALL KEEP ALL EQUIPMENT AND INVENTORY (EXCEPT FOR
THE OBSOLETE EQUIPMENT AND INVENTORY SOLD OR OTHERWISE DISPOSED OF, INVENTORY IN
TRANSIT, EQUIPMENT SENT TO THIRD PARTIES FOR REPAIR AND MOBILE ITEMS) AT THE
PLACES THEREFOR SPECIFIED IN SECTION 3.1.1 OR AT SUCH OTHER PLACES IN A
JURISDICTION WHERE ALL REPRESENTATIONS AND WARRANTIES SET FORTH IN ARTICLE III
(INCLUDING SECTION 3.1.3) SHALL BE TRUE AND CORRECT.
SECTION 4.1.2.
AS TO RECEIVABLES.
(A)
THE GRANTOR SHALL GIVE THE SECURED PARTY A
SUPPLEMENT TO SCHEDULE I AT THE END OF EACH QUARTER, WHICH SHALL SET FORTH ANY
CHANGES AS OF SUCH DATE TO THE INFORMATION SET FORTH IN SECTION 3.1.L, CLAUSE
(B) OF SECTION 4.1.2 OR SCHEDULE I.
THE GRANTOR SHALL BE ENTITLED TO DELIVER
SUCH A SUPPLEMENT AT OTHER TIMES IN ADDITION TO THE TIMES SET FORTH IN THE
PRECEDING SENTENCE.
(B)
THE GRANTOR SHALL KEEP ITS PLACE(S) OF
BUSINESS AND CHIEF EXECUTIVE OFFICE AND THE OFFICE(S) WHERE IT KEEPS ITS RECORDS
CONCERNING THE RECEIVABLES LOCATED AT THE ADDRESSES SET FORTH IN ITEM B OF
SCHEDULE I HERETO, AND SHALL NOT CHANGE ITS LEGAL NAME AFTER THE DATE HEREOF
EXCEPT UPON 30 DAYS' PRIOR WRITTEN NOTICE TO THE SECURED PARTY.
SECTION 4.1.3.
FURTHER ASSURANCES, ETC.
THE GRANTOR
AGREES THAT, FROM TIME TO TIME AT ITS OWN EXPENSE, THE GRANTOR WILL PROMPTLY
EXECUTE AND DELIVER ALL FURTHER INSTRUMENTS AND DOCUMENTS, AND TAKE ALL FURTHER
ACTION, THAT MAY BE NECESSARY OR THAT THE SECURED PARTY MAY REASONABLY REQUEST,
IN ORDER TO PERFECT, PRESERVE AND PROTECT ANY SECURITY INTEREST GRANTED OR
PURPORTED TO BE GRANTED HEREBY IN COLLATERAL LOCATED IN THE UNITED STATES OR TO
ENABLE THE SECURED PARTY TO EXERCISE AND ENFORCE ITS RIGHTS AND REMEDIES
HEREUNDER WITH RESPECT TO ANY COLLATERAL.
7
(A)
WITH RESPECT TO THE FOREGOING AND THE GRANT
OF THE SECURITY INTEREST HEREUNDER, THE GRANTOR HEREBY AUTHORIZES THE SECURED
PARTY TO FILE ONE OR MORE FINANCING OR CONTINUATION STATEMENTS, AND AMENDMENTS
THERETO, RELATIVE TO ALL OR ANY PART OF THE COLLATERAL WITHOUT THE SIGNATURE OF
THE GRANTOR WHERE PERMITTED BY LAW.
A CARBON, PHOTOGRAPHIC OR OTHER
REPRODUCTION OF THIS SECURITY AGREEMENT OR ANY FINANCING STATEMENT COVERING THE
COLLATERAL OR ANY PART THEREOF SHALL BE SUFFICIENT AS A FINANCING STATEMENT
WHERE PERMITTED BY LAW.
(B)
THE SECURED PARTY MAY AT ANY TIME AND FROM
TIME TO TIME FILE FINANCING STATEMENTS AND AMENDMENTS THERETO THAT DESCRIBE THE
COLLATERAL AS ALL ASSETS OF ANY GRANTOR OR WORDS OF SIMILAR