Common use of Security Interest in Accounts Clause in Contracts

Security Interest in Accounts. In order to secure CCC's obligations under this Agreement and Bank's rights to indemnity and/or reimbursement pursuant to Section 8.5 of this Agreement, and solely for such purpose, CCC hereby grants to Bank a contractual possessory security interest in, and hereby pledges to Bank all of CCC's right, title and interest, of whatever nature, in and to, (i) all deposit accounts now or hereafter domiciled at Bank in which CCC has an interest, specifically including but not limited to the CCC Reserve Account, the Operating Account, the Hold Account and the Merchant Reserve Account, (ii) all funds in and proceeds of such accounts, and (iii) all writings evidencing such accounts. CCC agrees to take all actions as may be reasonably required from time to time to establish and maintain such security interests as set forth hereinabove.