Common use of Initial Security Clause in Contracts

Initial Security. The Borrower shall provide the Lender with the following documents (each in form and substance satisfactory to the Lender) before the Second Drop-Dead Date and the Liens constituted thereby shall secure the due payment and performance of the Loan Obligations:

Initial Security. The Borrower shall provide the Lender with the following documents (each in form and substance satisfactory to the Lender) before the Second Drop-Dead Date and the Liens constituted thereby shall secure the due payment and performance of the Loan Obligations: (a) a security agreement creating Liens in all present and after-acquired property of the Borrower dated on or about the date hereof granted by the Borrower in favour of the Lender; and (b) the Deed of Trust.