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Cross Collateral And Cross-default Agreement

This is an actual contract by Oregon Baking Co. Dba Marsee Baking.

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Sectors: Retail
Governing Law: Illinois, View Illinois State Laws
Effective Date: August 26, 1998
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CROSS-COLLATERAL AND CROSS-DEFAULT AGREEMENT


HELLER FINANCIAL LEASING, INC. (hereinafter referred to as "Heller") has purchased one or more conditional sales contracts, lease agreements, chattel mortgages, security agreements, notes and other choses in action arising from the bona fide sale, lease or loan to the undersigned Debtor by various vendors, lenders or lessors, of or on personal property (hereinafter referred to as "Paper"), and/or Heller has made direct loans to or otherwise extended credit to Debtor evidenced by items of security agreements and notes and/or Heller has leased equipment to the Debtor on various leases and/or schedules thereto.


In consideration for Heller having done so and in order to induce Heller to make an additional loan(s) to, or to enter into a lease(s) with, Debtor and/or to purchase an additional item(s) of Paper (hereinafter collectively referred to as the "Agreements") and in consideration of Heller so doing, and for other good and valuable consideration, the receipt of which Debtor hereby acknowledges, Debtor agrees, as follows:


All presently existing and hereafter acquired personal property of Debtor in which Heller has or shall have a security interest, or retained title thereto, shall secure the payment and performance of all Debtor's liabilities and obligations to Heller of every kind and character, whether joint or several, direct or indirect, absolute or contingent, due or to become due, and whether under presently existing or hereafter created Agreements, or otherwise.


Debtor further agrees that Heller's security interest in or title to the Collateral covered by any Agreement
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