Sample Secured Demand Note Collateral Agreement

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____________________________________________________________________________________________________________________________________24. This Agreement supersedes all prior agreements of the parties with respect to theIndebtedness.IN WITNESS WHEREOF, the parties hereto have set their hands this _______ day of_____________________, 20____.________________________________________Borrower__________________________________________LenderC:\Documents and Settings\nfbddrl\Local Settings\Temporary Internet Files\OLK5F\FINAL RB SDN Agreement 09.04.doc12
SECURED DEMAND NOTEFOR VALUE RECEIVED, _____________________________________________________,(the "Lender") promises to pay ________________________________________________________________________ (the "Borrower"), at _________________________________________________________________________________________ (wherepresentment and demand for payment shall be made), without interest, the sum of____________________________________________________________________________________________________________ ($_____________________________) ondemand.This Note is secured at its date by the pledge of the Securities and Cash described in Schedule Aannexed hereto. Lender agrees that whenever the value of the Securities and Cash determined inaccordance with the capital requirements of the Commodity Futures Trading Commission [andthe Securities Exchange Commission] 13 ("the Commission), if required, and the applicableDesignated Self-Regulatory Organization, as defined in paragraph 1 of the Secured Demand NoteAgreement of even date, is less than the unpaid balance of this Note, the Borrower shall exercisethe rights set forth in paragraph 10 of the Secured Demand Note Agreement without first makinga demand for payment thereof.This Note and the Securities and Cash from time to time pledged to secure it are subject in allrespects to the provisions of the Secured Demand Note Agreement.14 The Borrower, by acceptance hereof, agrees, for itself, and its representatives, successors, andassigns (1) that neither Lender nor Lender's heirs, executors, administrators, successors or assignsshall be personally liable on this Note, except to the extent of the value of Securities or Cashpledged to secure this Note which are withdrawn in violation of the Secured Demand NoteAgreement, and (2) that in the event of default the Borrower and Borrower's successors andassigns shall look for payment solely to the security of the property then pledged to secure thesame, and will not make claim or institute any action or proceeding against Lender or Lender'sheirs, executors, administrators, successors or assigns for the payment of the property pledged tosecure this Note or otherwise; provided, however, that nothing herein contained shall beconstrued to release or impair the Indebtedness evidenced by this Note, or of the lien upon theproperty pledged to secure it, or preclude the application of said pledged property to the paymenthereof in accordance with the provisions of the Secured Demand Note Agreement.13Optional.14Optional.C:\Documents and Settings\nfbddrl\Local Settings\Temporary Internet Files\OLK5F\FINAL RB SDN Agreement 09.04.doc13
Page 2 and 3: 3. The Lender shall execute and del
Page 4 and 5: Regulations, or 3) if Borrower is a
Page 6 and 7: 11. In the event of a demand by the
Page 8 and 9: (1) 9 Failure of Borrower to pay in
Page 10 and 11: or impair the Indebtedness evidence
Page 14 and 15: 15 The Borrower further agrees that
Page 16: SECURED DEMAND NOTESCHEDULE ACash P

Sample Secured Demand Note Collateral Agreement

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