Common use of Pledge and Grant of Security Interests Clause in Contracts

Pledge and Grant of Security Interests. Pledgor hereby delivers to the Agent, for the ratable benefit of the Secured Parties, all of the Pledged Securities and hereby grants to the Agent, for the ratable benefit of the Secured Parties, a first priority security interest in the Pledged Securities, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations.

Pledge and Grant of Security Interests. The Pledgor hereby delivers to the Administrative Agent, for the ratable benefit of itself and the Secured PartiesLenders, all of the Pledged Securities Stock and hereby grants to the Administrative Agent, for the ratable benefit of itself and the Secured PartiesLenders, a first priority security interest in the such Pledged SecuritiesStock and all other Collateral, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations.