to ensure the immediate and complete payment and execution of the guaranteed obligations. Notwithstanding the above, the guarantee excludes any excluded property and, in order to avoid any doubt, the granting of an interest in security is not considered to be an assignment of intellectual property rights belonging to the funders. Real estate that can be declared as collateral under a security agreement includes inventory of products, furniture, equipment used by a company, home furnishings and real estate owned by the company. The borrower is responsible for maintaining security in good condition in the event of a default. The property classified as collateral should not be removed from the premises unless the property is required in the normal framework of operations. « Excluded Deposit Account » (i) any deposit account whose balance consists exclusively of income and federal taxes, amounts that, according to the borrower`s reasonable judgment, must be paid to the Internal Revenue Service or to the public or local authorities with respect to the staff of one of the parties to the loan or (B) amounts that must be paid to a staff allocation plan in accordance with the DOL Reg. p. 2510.3-102 on behalf of or for the benefit of workers of one or more parties to the loan; (ii) all separate deposit accounts that consist exclusively of funds related to tax accounts, payroll accounts, fiduciary accounts or similar accounts to the extent that the granting of security interest would be unlawful, or to a worker benefit plan or agreement, and (iii) other non-concentration accounts, which contain less than $25,000 separately and for all other non-concentration accounts. This amended amendment is forwarded in accordance with Section 4.4 of the security agreement below. All the terms defined in it have the meaning specified to it or that has been inserted into the security agreement by reference.
The undersigned heres business heresafter certifies that the entries and guarantees provided for in Article III of the security agreement are and remain correct. The undersigned also agrees that this amendment to this dated deposit and security agreement may be attached to the « security agreement » between the sub-signatories as Deorians and Wanxiang America Corporation as an agent ([modified or amended from time to time prior to the date of this agreement]) and that the guarantee mentioned in Schedule I to this amendment will and will be included in the safeguards covered in this security agreement. security agreement. 3.7. Copyright of chatl`s letter of credit and paper. Figure C lists all the rights to the letter of credit and Chatl`s paper of such a Grantor. All measures of such a grantor, necessary or desirable to protect and perfect the agent`s link on each item in Appendix C (including the delivery of all the originals and the placement of a caption on all Chatl documents, as required below), were carried out correctly. The officer has a primary safety interest in the security listed in Schedule C, subject to the links authorized in accordance with point 4.1 (e). 1.3. Definitions of certain terms used here.
As stated in this security agreement, the following terms, in addition to the terms defined in paragraph 1 and in the opening statement, have the following meanings: (ii) these rights and remedies, which are conferred on a party insured in accordance with the UCC (whether or not the UCC applies to the relevant security) or other applicable laws (including, but not limited) , any law relating to the exercise of a bank`s right of imputation or bankers` right to guarantee) when a debtor is late in a security agreement; 3.11.
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