Common use of Pledge and Security Interest Clause in Contracts

Pledge and Security Interest. (a) As collateral security for the prompt payment and performance in full of the Obligations (as defined below), each Pledgor hereby delivers, pledges and grants to the Pledgee an irrevocable, first priority security interest in (i) all the securities, membership, partnership or other ownership interests or rights to purchase set forth on Schedule I attached hereto, and (ii) all securities, membership, partnership or other ownership interests obtained in the future by a Pledgor (collectively, the “Pledged Securities”), including, without limitation: (A) all of the Pledgors’ interests in respect of the Pledged Securities and Pledgors’ interests in all profits and distributions to which the Pledgors shall at any time be entitled in respect of such Pledged Securities and (B) to the extent not otherwise included, all proceeds, dividends, warrants, options, rights, instruments, and other property from time to time received or otherwise distributable in respect of or in exchange of any or all of the foregoing (collectively, the “Pledged Collateral”).

Pledge and Security Interest. (a) As collateral security for the prompt payment and performance in full of the Obligations (as defined below), each Pledgor hereby delivers, pledges and grants to the Pledgee Pledgee, its successors and assigns, an irrevocable, first priority security interest in (i) all the securities, membership, partnership securities or other ownership interests or rights to purchase set forth on Schedule I II attached hereto, and (ii) all securities, membership, partnership securities or other ownership interests obtained in the future by a Pledgor (collectively, the “Pledged Securities”), including, without limitation: limitation (Aa) all of the Pledgors’ interests in respect of the Pledged Securities and Pledgors’ interests in all profits and distributions to which the Pledgors shall at any time be entitled in respect of such Pledged Securities and (Bb) to the extent not otherwise included, all proceeds, dividends, warrants, options, rights, instruments, and other property from time to time received or otherwise distributable in respect of or in exchange of any or all of the foregoing (collectively, the “Pledged Collateral”).

Pledge and Security Interest. (a) As collateral security for the prompt payment and performance in full of the Obligations (as defined below), each the Pledgor hereby delivers, pledges pledges, and grants to the Pledgee Pledgee, its successors and assigns, an irrevocable, first priority security interest in 7,000 membership units in Play Beverages, LLC, a Delaware limited liability company (i“PlayBev”), representing fifty percent (50%) all the securitiesof Pledgor’s current membership interest in PlayBev, membership, partnership or other ownership interests or rights to purchase set forth as further described on Schedule I attached hereto, and (ii) all securities, membership, partnership or other ownership interests obtained in the future by a Pledgor hereto (collectively, the “Pledged SecuritiesInterests”), including, without limitation: limitation (Ai) all of the Pledgors’ Pledgor’s interests in respect of the Pledged Securities Interests and Pledgors’ Pledgor’s interests in all profits and distributions to which the Pledgors Pledgor shall at any time be entitled in respect of such Pledged Securities Interests, and (Bii) to the extent not otherwise included, all proceeds, dividends, warrants, options, rights, instruments, and other property from time to time received or otherwise distributable in respect of or in exchange of any or all of the foregoing (collectively, the “Pledged Collateral”).