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GENERAL31747
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GENERAL31747
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Last modified
8/24/2016 7:54:42 PM
Creation date
11/23/2007 7:04:44 AM
Metadata
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Template:
DRMS Permit Index
Permit No
M1977376
IBM Index Class Name
General Documents
Doc Name
SECURITY AGREEMENT
Media Type
D
Archive
No
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(e) All notices, requests and demands hereunder shall be <br />in writing and (i) made to Lender at 225 South Lake Avenue, <br />Pasadena, California 91101 and to Guarantors at their chief <br />executive offices set forth below, or to such other address as each <br />party may designate by written notice to the other in accordance <br />with this provision, and (ii) deemed to have been given or made: if <br />by hand, telex, telecopy or telegram, immediately upon :sending; if <br />by Federal Express, Express Mail or other overnight delivery <br />service, one (1) day after dispatch; and if by certified mail, <br />return receipt requested, five (5) days after mailing. <br />(f) The provisions of this Agreement are severable, and <br />if any clause or provision hereof shall be held invalid or <br />unenforceable in whole or in part in any jurisdiction, •then such <br />invalidity or unenforceability shall attach only to suchh clause or <br />provision in any such jurisdiction or part thereof, and shall not <br />in any manner affect such clause or provision in any other <br />jurisdiction or any other clause or provision in this Agreement or <br />the other Financing Agreements in any jurisdiction. <br />(q) Under no circumstances shall Lender be deemed to <br />have assumed any responsibility for or obligation or duty of any <br />nature or kind with respect to any Collateral; or any matter or <br />proceedings arising out of or relating thereto, but the same shall <br />be at the sole risk of Guarantors at all times. Each of Guarantors <br />hereby releases Lender from any claims, causes of action and <br />demands at any time arising out of, relating to or with respect to <br />this Agreement, the Guaranty, the other Financing Agreements, the <br />Obligations, the Collateral and/or any actions taken or omitted to <br />be taken by Lender with respect thereto, and each of Guarantors <br />hereby agrees to indemnify and hold Lender harmless from and with <br />respect to any and all such claims, causes of action and demands, <br />except for Lender's own gross negligence or wilful misconduct. <br />(h) This Agreement shall inure to the benefit of Lender <br />and its successors and assigns and shall be binding upon each of <br />Guarantors and their respective successors and assigns (including <br />any trustee or other fiduciary hereafter appointed as its legal <br />representative or with respect to the property of the estate of <br />such Guarantor whether under Chapter 11 of the Bankruptcy Code or <br />any subsequent Chapter 7 case and its successors upon conclusion of <br />any of the Chapter it Cases). <br />(i) This Agreement and any other agreement, document or <br />instrument delivered in connection herewith, and the obligations of <br />the parties hereunder or thereunder shall be governed by, and <br />construed and interpreted in accordance with the laws of the State <br />of California, except to the extent that the law of any other <br />jurisdiction is required to be applied with respect to the <br />enforcement of Lender's rights in Collateral located in such <br />jurisdiction and except to the extent that the provisions of the <br />Bankruptcy Code are applicable and specifically conflict with the <br />foregoing. <br />- 20 - <br />
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