Common use of Credit Security Clause in Contracts

Credit Security. As security for the payment and performance of the Secured Obligations (whether due because of stated maturity, acceleration, mandatory prepayment or otherwise), the Pledgor mortgages, pledges and collaterally grants and assigns to the Security Trustee for the benefit of the Secured Parties, and grants and creates a security interest in favor of the Security Trustee for the benefit of the Secured Parties in all of the Pledgor’s right, title and interest in and to (but none of its obligations or liabilities with respect to) the items and types of present and future property described in Sections 2.1.1 and 2.1.2, whether now owned or hereafter acquired (all of which shall be included in the term “Credit Security”): 2.1.1. the Subordinated Shareholder Loan Agreement, including all Indebtedness from time to time owing to the Pledgor from the Borrower thereunder (all such Indebtedness is referred to as the “Pledged Indebtedness”); and 2.1.2. all proceeds and products of, and supporting items relating to, the Pledged Indebtedness.

Credit Security. As security for the payment and performance of the Secured Obligations (whether due because of stated maturity, acceleration, mandatory prepayment or otherwise), the Pledgor mortgages, pledges and collaterally grants and assigns to the Security Trustee for the benefit of the Secured Parties, and grants and creates a security interest in favor of the Security Trustee for the benefit of the Secured Parties in all of the Pledgor’s right, title and interest in and to (but none of its obligations or liabilities with respect to) the items and types of present and future property described in Sections 2.1.1 and 2.1.2, whether now owned or hereafter acquired (acquired, all of which shall be included in the term “Credit Security”):: 2.1.1. the Subordinated Shareholder Loan Agreement, including all Indebtedness from time to time owing to the Pledgor from the Borrower thereunder (all such Indebtedness is referred to as the “Pledged Indebtedness”); and 2.1.2. all proceeds and products of, and supporting items relating to, the Pledged Indebtednessitems described or referred to in Section 2.1.1.