Common use of Assignment as Security Clause in Contracts

Assignment as Security. In consideration of the Facility being granted and made available to the Assignor, and pursuant to the Letter of Offer and the Loan Agreement, and as security for the payment and repayment of the Indebtedness under the Facility and pursuant to the Loan Agreement and the Letter of Offer, the Assignor shall assign all his rights title and interests in and to the Property under pursuant to and by virtue of the Principal Sale and Purchase Agreement and the Related Documents upon the terms and conditions therein contained.

Assignment as Security. In consideration of the Facility being granted and made available to the AssignorBorrower, and pursuant to the Letter of Offer and the Loan Agreement, and as security for the payment and repayment of the Borrower’s Indebtedness under the Facility and pursuant to the Loan Agreement and the Letter of Offer, the Assignor shall assign all his rights title and interests in and to the Property under pursuant to and by virtue of the Principal Sale and Purchase Agreement and the Related Documents upon the terms and conditions therein contained.