Common use of Cross-Default; Cross-Collateralization Clause in Contracts

Cross-Default; Cross-Collateralization. Each Pledgor and the Company each acknowledge and agree that any default under the terms of this Agreement shall constitute a default by the Company under the Debenture. The security interests, liens and other rights and interests in and relative to any of the personal property of any Pledgor now or hereafter granted to the Pledgee by any Pledgor pursuant to any agreement, document or instrument, including, but not limited to, this Agreement, the Purchase Agreement or the Debenture, shall serve as security for any and all of the Obligations, and, for the repayment thereof, Pledgee may resort to any such collateral in such order and manner as Pledgee may elect.

Cross-Default; Cross-Collateralization. Each The Pledgor acknowledges and the Company each acknowledge and agree agrees that any default under the terms of this Agreement shall constitute a default by the Company under the Debenture. The security interests, liens and other rights and interests in and relative to any of the personal property of any the Pledgor now or hereafter granted to the Pledgee by any the Pledgor pursuant to any agreement, document or instrument, including, but not limited to, this Agreement, the Purchase Agreement or the Debenture, shall serve as security for any and all of the Obligations, and, for the repayment thereof, Pledgee may resort to any such collateral in such order and manner as Pledgee may elect.

Cross-Default; Cross-Collateralization. Each The Pledgor acknowledges and the Company each acknowledge and agree agrees that any default under the terms of this Agreement shall constitute a default by the Company under the DebentureNote. The security interests, liens and other rights and interests in and relative to any of the personal property of any the Pledgor now or hereafter granted to the Pledgee by any the Pledgor pursuant to any agreement, document or instrument, including, but not limited to, this Agreement, the Purchase Agreement or the DebentureNote, shall serve as security for any and all of the Obligations, and, for the repayment thereof, Pledgee may resort to any such collateral in such order and manner as Pledgee may elect.