Common use of Collateral and Security Interest Clause in Contracts

Collateral and Security Interest. The collateral for the Advances shall be the Company's parts inventory, fixtures, equipment and all other assets (the "Collateral"). To secure the payment of the Advances and interest thereon (together, the "Obligation"), the Company does hereby grant to Framan Co. a security interest in each and all of the Collateral. The Company shall ▇▇▇▇▇ ▇▇▇▇▇▇ Co. access to the Company's books for the purposes of review with prior notice during normal business hours.

Collateral and Security Interest. The collateral for the Advances shall be the Company's parts inventory, fixtures, inventory and equipment and all other assets purchased by the Company with Advances (the "Collateral"). To secure the payment of the Advances and interest thereon thereof (together, the "ObligationLiabilities"), the Company does hereby grant to Framan Co. a security interest in each and all of the Collateral. The Company shall ▇▇▇▇▇ ▇▇▇▇▇▇ Co. access to the Company's books for the purposes of review with prior notice during normal business hours."