Common use of Parent Security Agreements Clause in Contracts

Parent Security Agreements. The obligations of each of VNGI and VNGDI arising under, pursuant to, or by virtue of its respective Parent Guaranty shall be secured by a valid and enforceable first priority security interest and lien in and to all of its personal property, tangible and intangible, whether now owned and existing or hereafter acquired or arising, including, without limitation, all equipment, inventory, accounts receivable, investment property, and general intangibles and all proceeds thereof, which security interest (except as respects Collateral covered by the Parent Pledge Agreement) has been and shall continue to be granted by an amended and restated security agreement executed and delivered by each of VNGI and VNGDI to the Agent, for the benefit of the Banks and the Agent, each in the form attached hereto and made a part hereof for all purposes as EXHIBIT K (referred to herein as the same may be amended, modified, extended, renewed, supplemented, replaced and/or restated from time to time and at any time, collectively as the "Parent Security Agreements" and individually as a "Parent Security Agreement"), subject only to liens and security interests described in the exceptions enumerated in subsections 5.02(b)(1) through (7) of this Agreement.

Parent Security Agreements. The obligations of each of VNGI and VNGDI arising under, pursuant to, or by virtue of its respective Parent Guaranty shall be secured by a valid and enforceable first priority security interest and lien in and to all of its personal property, tangible and intangible, whether now owned and existing or hereafter acquired or arising, including, without limitation, all equipment, inventory, accounts receivable, investment property, and general intangibles and all proceeds thereof, which security interest (except as respects Collateral covered by the Parent Pledge Agreement) has been and shall continue to be granted by an amended and restated security agreement executed and delivered by each of VNGI and VNGDI to the Agent, for the benefit of the Banks Lenders and the Agent, each in the form attached hereto and made a part hereof for all purposes as EXHIBIT K K-1 and K-2 (referred to herein as the same may be amended, modified, extended, renewed, supplemented, replaced and/or restated from time to time and at any time, collectively as the "Parent Security Agreements" and individually as a "Parent Security Agreement"), subject only to liens and security interests described in the exceptions enumerated in subsections 5.02(b)(1) through (7) of this Agreement.