Common use of Grant of Security Interest in the Collateral Clause in Contracts

Grant of Security Interest in the Collateral. As collateral security for the Secured Obligations defined below, each Debtor hereby grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and acknowledges and agrees that the Collateral Agent has and shall continue to have until the Termination Date for the benefit of the Secured Parties a continuing lien on and security interest in, and right of set-off against, all right, title, and interest of such Debtor, whether now owned or existing or hereafter created, acquired or arising, in and to all of the following:

Grant of Security Interest in the Collateral. As collateral security for To secure the prompt payment and performance when due of the Secured Obligations defined belowObligations: (a) Security Interest in Inventory, each Debtor Receivables and General Intangibles and Equipment. Each of the Credit Parties hereby grants to the Collateral Agent for the benefit of the Secured Parties Banks a lien on and security interest in in, and acknowledges and agrees that the Collateral Agent has and shall continue to have until the Termination Date for the benefit of the Secured Parties Banks a continuing lien on security interest, in any and security interest in, and right of set-off against, all right, title, title and interest of such Debtor, whether now owned or existing or hereafter created, acquired or arising, each Credit Party in and to all of the followingto: