Grant of Pledges. (i) In order to secure the Secured Obligations, the Corporation grants to the Collateral Agent for the equal and ratable benefit of the Secured Parties, effective on [THE DATE HEREOF (IF SUCH DATE OCCURS DURING A COLLATERAL PERIOD) AND OTHERWISE ON THE FIRST DAY OF ANY COLLATERAL PERIOD FOLLOWING EXECUTION HEREOF] a continuing security interest in all the following property of the Corporation, whether now owned or existing or hereafter acquired or arising and regardless of where located (the "NEW COLLATERAL"): [DESCRIBE PROPERTY BEING ADDED TO THE COLLATERAL] The security interests granted by the Corporation pursuant hereto shall terminate in accordance with Section 18 of the Pledge Agreement.
Appears in 4 contracts
Samples: Foreign Pledge Agreement (Nortel Networks LTD), NNL Foreign Pledge Agreement (Nortel Networks LTD), Foreign Pledge Agreement (Nortel Networks Corp)
