Common use of Liens and Security Interest Clause in Contracts

Liens and Security Interest. To secure performance by the Borrower of the payment and performance of the Obligations, the Borrower shall grant to the Administrative Agent, for the benefit of the Administrative Agent and each Lender, a perfected, first priority security interest and lien in and to all assets of the Borrower, subject only to Permitted Liens, including, without limitation, a security interest and lien in and to all deposit or securities accounts of Borrower, including all Collateral Accounts and all distributions, and any proceeds thereof including sale or redemption proceeds, cash and Cash Equivalents (collectively, the “Collateral”), pursuant to the Security Agreements.