System Security Agreement Meaning


8.15. Global Agreement. This security agreement covers the entire agreement and understanding between the licensor and the agent with respect to warranties and supersedes all prior agreements and understandings between the dealers and the agent with respect to warranties. 8.10. Benefit of the Agreement. The terms and provisions of this Security Agreement are binding on the respective licensees, agent and assigns and assigns (including any person bound as a debtor to this security agreement) and apply to your benefits, unless no licensor has the right to assign its rights or delegate its obligations under this Security Agreement or an interest therein. inclusive. without the prior written consent of the agent. No sale of interests, assignments, assignments or other orders of an agreement governing the covered obligations, or any part thereof or parts thereof shall in any way affect the right of pledge granted to the agent under it.

4.8 Sensitive Commercial Complaints. Licensor shall notify the Agent of all commercial claims valued in excess of USD 100,000 (as defined in the PED) and for which it has acquired a value greater than USD 100,000, and unless otherwise agreed by the Agent, such Licensee shall make a change to this Warranty Agreement. in the form of Appendix I, which confers on the officer a priority security right over such a commercial offence. the above contracts; (c) any other amount paid or payable from time to time under or under any of the above agreements; or (d) exercise or enforce all covenants, remedies, powers and privileges. (d) disclosure of counter-claims against claims. (i) where a discount, credit or agreement to grant a discount or any other reduction in the amount due to a claim held by such a licensor is at least USD 25,000, or (ii) where, to the knowledge of such licensor, disputes, claims, counter-claims or defences have been invoked or threatened in respect of such claim; The Licensor shall immediately inform the Agent in writing. . .

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