Common use of Reaffirmation and Grant of Security Interest Clause in Contracts

Reaffirmation and Grant of Security Interest. Each Loan Party hereby (a) confirms that each Guaranty or Security Instrument (each as defined in the Existing Credit Agreement) to which it is a party or is otherwise bound and all Collateral encumbered thereby, will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Loan Documents, the payment and performance of all Obligations under this Agreement and the Secured Obligations (under the Security Instruments) under the Security Instruments, as the case may be, including without limitation the payment and performance of all such Obligations under this Agreement and the Secured Obligations under the Security Instruments, and (b) reaffirms its grant to the Administrative Agent for the benefit of the secured parties of a continuing Lien on and security interest in and to such Loan Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Obligations under this Agreement and the Secured Obligations under the Security Instruments (whether at stated maturity, by acceleration or otherwise) in accordance with the terms thereof.

Reaffirmation and Grant of Security Interest. Each Loan Credit Party hereby (a) confirms that each Guaranty or Security Instrument (each as defined in the Existing Credit Agreement) to which it is a party or is otherwise bound and all Collateral encumbered thereby, will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Loan Credit Documents, the payment and performance of all Obligations under this Agreement and the Secured Obligations (under as such term is defined in the Security InstrumentsDocuments) under the Security InstrumentsDocuments, as the case may be, including without limitation the payment and performance of all such Obligations under this Agreement and the Secured Obligations under the Security InstrumentsDocuments, and (b) reaffirms its grant to the Administrative Agent for the benefit of the secured parties Secured Parties of a continuing Lien on and security interest in and to such Loan Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Obligations under this Agreement and the Secured Obligations under the Security Instruments Documents (whether at stated maturity, by acceleration or otherwise) in accordance with the terms thereof.

Reaffirmation and Grant of Security Interest. Each Loan Credit Party hereby (a) confirms that each Guaranty or Security Instrument (each as defined in the Existing Credit Agreement) to which it is a party or is otherwise bound and all Collateral encumbered thereby, will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Loan Credit Documents, the payment and performance of all Obligations under this Agreement and the Secured Obligations (under as such term is defined in the Security Instruments) under the Security Instruments, as the case may be, including without limitation the payment and performance of all such Obligations under this Agreement and the Secured Obligations under the Security Instruments, and (b) reaffirms its grant to the Administrative Agent for the benefit of the secured parties Secured Parties of a continuing Lien on and security interest in and to such Loan Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Obligations under this Agreement and the Secured Obligations under the Security Instruments (whether at stated maturity, by acceleration or otherwise) in accordance with the terms thereof.

Reaffirmation and Grant of Security Interest. Each Loan Party hereby (ai) confirms that each Guaranty or Security Instrument (each as defined in the Existing Original Credit Agreement) to which it is a party or is otherwise bound and all Collateral encumbered thereby, will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Loan Documents, the payment and performance of all Obligations under this Agreement and the Secured Obligations (under as such term is defined in the Security Instruments) under the Security Instruments, as the case may be, including without limitation the payment and performance of all such Obligations under this Agreement and the Secured Obligations under the Security Instruments, and (bii) reaffirms its grant to the Administrative Agent for the benefit of the secured parties Secured Parties of a continuing Lien on and security interest in and to such Loan Credit Party’s right, title and interest in, to and under all Collateral as collateral security for the prompt payment and performance in full when due of the Obligations under this Agreement and the Secured Obligations under the Security Instruments (whether at stated maturity, by acceleration or otherwise) in accordance with the terms thereof.