Grant of Security Interest and Pledge. To secure the prompt and complete payment and performance of the Secured Obligations, the Grantor, subject to the terms and conditions of this Agreement, hereby pledges, assigns and grants to the Trustee, on behalf of and for the benefit of the Holders, a security interest (which interest shall constitute a first priority security interest) in all of Grantor’s right, title and interest, whether now owned or hereafter acquired, in and to the Collateral.
Appears in 2 contracts
Sources: Pledge and Security Agreement (Gladstone Companies, Inc.), Pledge and Security Agreement (Gladstone Companies, Inc.)