Common use of Pledge of Equity Interest Clause in Contracts

Pledge of Equity Interest. (a) In order to secure the Secured Obligations, the Lien Grantor grants to the Collateral Agent for the 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 Lien Grantor, 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 Lien Grantor pursuant hereto shall terminate in accordance with Section 17 of the Pledge Agreement.

Pledge of Equity Interest. (a) In order to secure the Secured Obligations, the Lien Grantor grants to the Collateral Agent for the 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] hereof a continuing security interest in all the following property of the Lien Grantor, whether now owned or existing or hereafter acquired or arising and regardless of where located (the "NEW COLLATERAL"): [describe property being added to the CollateralDESCRIBE PROPERTY BEING ADDED TO THE COLLATERAL] The security interests granted by the Lien Grantor pursuant hereto shall terminate in accordance with Section 17 16 of the Pledge Agreement.