Common use of Security Document Clause in Contracts

Security Document. The provisions of this Guaranty are effective to create in favor of Motorola a legal, valid and enforceable security interest in all right, title and interest of Guarantor in the Collateral specified in Section 6 hereof; and when financing statements have been filed in the proper offices in the jurisdictions listed in Exhibit D hereto, except for any further filing or taking of possession which may be required under Section 9- 306 of the UCC in order to perfect a security interest in proceeds of the Collateral and any taking of possession which may be required under the UCC in order to perfect a security interest in instruments, this Guaranty shall constitute a fully perfected first Lien on, and security interest in, all right, Chadmoore/Parent Guaranty.004 7 December 23, 1996 8 title and interest of Guarantor in such of the Collateral described herein with respect to which a security interest may be perfected by a filing under Article 9 of the Uniform Commercial Code.