Common use of Debt Secured Clause in Contracts

Debt Secured. This Assignment is given for the purpose of securing: (a) Payment of the indebtedness evidenced by the Assignor's Note, including any renewals or extensions thereof. (b) Payment of all other sums with interest thereon becoming due and payable to the Bank under the provisions hereof. (c) Performance and discharge of all obligations, covenants and agreements of the Assignor herein and in the Assignor's Note.