Right to Require Collateral

Right to Require Collateral. Upon the occurrence of (i) an Event of Default, (ii) a net loss by Customer for two consecutive fiscal quarters, or (iii) a net loss by Customer for any fiscal year, Customer shall upon the request of Bank furnish to Bank perfected first liens and security interests upon all Accounts, Inventory and General Intangibles of Customer, now owned or existing or hereafter acquired or arising. In connection therewith, Customer shall execute and deliver to Bank such agreements, instruments and documents as Bank may then require to document and evidence said liens and security interests and the priority of Bank with respect thereto; all of which shall be in form and substance satisfactory to Bank. The acceptance by Bank of such liens and security interests and/or the agreements, instruments and documents evidencing same shall not constitute a waiver by Bank of any Event of Default or an election precluding the exercise of any other right or remedy available to Bank.