Common use of Security Interest and Pledge Clause in Contracts

Security Interest and Pledge. The Pledgor hereby pledges to the Secured Party, and grants to the Secured Party, a security interest in 396,476 shares of the Secured Party’s common stock (the “Pledged Shares”) and the certificate representing the Pledged Shares, and all dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Shares, and a security interest in warrants to purchase 396,476 shares of the Secured Party’s common stock (the “Pledged Warrants”) and the certificate representing the Pledged Warrants (collectively, the “Pledged Collateral”).