Common use of Grant of Additional Security Interest Clause in Contracts

Grant of Additional Security Interest. The Borrower hereby pledges, hypothecates and grants to the Administrative Agent for the ratable benefit of the Secured Parties a security interest in, and lien on, all of the following property now owned or at any time hereafter acquired by the Borrower or in which the Borrower has or at any time in the future may acquire any right, title or interest, as collateral security for the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the Obligations (in each case, other than to the extent the following would constitute Excluded Collateral after giving effect to this Amendment): (a) the Capital Stock of any Foreign Subsidiary and the Capital Stock of any entity that is not a Material Wholly Owned Domestic Subsidiary; (b) Commercial Tort Claims (as defined in the UCC) with a value in excess of $1,000,000 and described on Exhibit B hereto (as shall be promptly updated by a Loan Party upon such Loan Party acquiring rights to any Commercial Tort Claim); (c) Securities Accounts (as defined in the UCC) (but excluding any Excluded Account); and (d) all Proceeds and products of each of the foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing, and any and all Proceeds of any insurance, indemnity, warranty or guaranty payable to any Loan Party from time to time with respect to any of the foregoing.