Common use of Additional Collateral Security Clause in Contracts

Additional Collateral Security. In addition to the collateral described in Section 9.1 hereof, payment of the Obligations is also secured by a first priority (subject to Liens permitted by this Agreement) security interest in (i) all assets and personal property and fixtures of the Borrower and each Guarantor, (ii) assignments of all financing statements in favor of the Borrower and/or the Guarantors in connection with its (their) purchase of accounts receivable, (iii) all the issued and outstanding Capital Stock of each Subsidiary that is or becomes a Guarantor, and (iv) all proceeds and products of the forgoing, whether now owned or hereafter acquired, as provided in a Security Agreement executed or to be executed and delivered by the Borrower and each Guarantor to the Bank.

Additional Collateral Security. In addition to the collateral described in Section 9.1 hereof, payment of the Obligations is also secured by a first priority (subject to Liens permitted by this Agreement) security interest in (i) all assets and personal property and fixtures of the Borrower and each Guarantor, (ii) assignments of all financing statements in favor of the Borrower and/or the Guarantors in connection with its (their) purchase of accounts receivable, (iii) all the issued and outstanding Capital Stock of each Subsidiary that is or becomes a Guarantor, and (iv) all proceeds and products of the forgoing, whether now owned or hereafter acquired, as provided in a Security Agreement executed or to be executed and delivered by the Borrower and each Guarantor to the Bank.