Security for the Secured Obligations. The Borrower hereby grants to the Bank a first priority Lien and security interest in the Collateral as security for the obligations of the Borrower hereunder and under each other Margin Loan Document (the “Secured Obligations”) except to the extent provided for in the Account Control Agreement.
Appears in 2 contracts
Sources: Master Margin Loan Agreement (Highland Funds Ii), Master Margin Loan Agreement (Highland Funds Ii)
Security for the Secured Obligations. The Borrower hereby grants to the Bank a first priority Lien and security interest in the Collateral as security for the obligations of the Borrower hereunder and under each other Margin Loan Document in respect of the Margin Loans (the “Secured Obligations”) except to the extent provided for in the Account Control Agreement).
Appears in 2 contracts
Sources: Master Margin Loan Agreement (Western Asset Diversified Income Fund (WDI)), Master Margin Loan Agreement (Western Asset Middle Market Income Fund Inc.)