Common use of True Consignment; Grant of Security Interest Clause in Contracts

True Consignment; Grant of Security Interest. (a) The parties hereto intend that this Agreement shall provide for a true consignment and that all transactions hereunder shall constitute true consignments of the Consigned Precious Metal. (b) As security for the prompt and unconditional payment and performance of any and all Obligations, whether now existing or hereafter incurred, the Company hereby grants to Sensata a continuing lien upon and security interest in, and does hereby pledge, assign and transfer to Sensata, a continuing security interest in the Consigned Precious Metal from time to time delivered hereunder by Sensata, whether now existing or hereafter arising. Nothing contained in the foregoing grant is intended to conflict with the true consignment nature of this Agreement with respect to the Consigned Precious Metal. The foregoing grant is supplementary to, and not in replacement of, any other lien or security interest securing the Obligations.