Common use of Credit Security Clause in Contracts

Credit Security. As security for the payment and performance of the Obligations (whether due because of stated maturity, acceleration, mandatory prepayment or otherwise including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)), the Pledgor mortgages, pledges and collaterally grants and assigns to the Agent for the benefit of the Secured Parties, and creates a security interest in favor of the Agent for the benefit of the Secured Parties, 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, 2.1.2 and 2.1.3, whether now owned or hereafter acquired, all of which shall be included in the term “Credit Security”: 2.1.1. the Subordinated Shareholder Loan, including all Indebtedness from time to time owing to the Pledgor from the Borrower thereunder including the instruments evidencing such Indebtedness. All such Indebtedness is referred to as the “Pledged Indebtedness”; 2.1.2. all books, records, ledger cards, files, correspondence, computer programs, tapes, disks and related data processing software that at any time evidence or contain information relating to the Pledge Indebtedness or are otherwise necessary or helpful in the collection thereof or realization thereupon; and 2.1.3. all proceeds and products of, and supporting items relating to, the items described or referred to in Sections 2.1.1 and 2.1.2.