Common use of GRANT OF SECURITY INTEREST; CONTINUING LIABILITY UNDER COLLATERAL Clause in Contracts

GRANT OF SECURITY INTEREST; CONTINUING LIABILITY UNDER COLLATERAL. (a) Holdings hereby assigns and transfers to the Administrative Agent, and hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in all equity interests in Palco and all Proceeds thereof (the "Holdings Collateral"), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of all Obligations. Any reference to Collateral herein with respect to Holdings shall be understood to be a reference to the Holdings Collateral.

GRANT OF SECURITY INTEREST; CONTINUING LIABILITY UNDER COLLATERAL. (a) Holdings hereby assigns and transfers to the Administrative Agent, and hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in all equity interests in Palco and all Proceeds thereof (the "“Holdings Collateral"”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of all Obligations. Any reference to Collateral herein with respect to Holdings shall be understood to be a reference to the Holdings Collateral.

GRANT OF SECURITY INTEREST; CONTINUING LIABILITY UNDER COLLATERAL. (a) Holdings hereby assigns and transfers to the Administrative Agent, and hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in all equity interests in Palco and all Proceeds thereof (the "“Holdings Collateral"”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of all Obligations. Any reference to Collateral herein with respect to Holdings shall be understood to be a reference to the Holdings Collateral. .