Credit Security. As security for the payment and performance of the Obligations, each Obligor party hereto mortgages, pledges and collaterally grants and assigns to the Agent for the benefit of the Holders, and creates a security interest in favor of the Agent for the benefit of the Holders in, all of such Obligor'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 3.1.1 through 3.1.14 (subject, however, to Section 3.1.15), whether now owned or hereafter acquired, all of which shall be included in the term "CREDIT SECURITY":
Appears in 2 contracts
Sources: Security Agreement (Ibasis Inc), Security Agreement (Ibasis Inc)