Common use of Collateral Grant Clause in Contracts

Collateral Grant. To secure the prompt payment and performance when due of all of Lessee’s obligations under a subject Lease, including its obligation to pay Rent when due, Lessee hereby collaterally assigns, grants, and conveys to Lessor, a first priority security interest in and Lien on all of Lessee’s right, title and interest in and to all of the Collateral related to the subject Lease.