Common use of Security and Collateral Clause in Contracts

Security and Collateral. To secure the payment when due of the Notes and all other obligations of the Company under this Agreement or any Rate Hedging Agreement to the Lenders and the Agent, the Company shall execute and deliver, or cause to be executed and delivered, to the Lenders and the Agent Security Documents granting the following: (a) Security interests in all present and future accounts, inventory, equipment, general intangibles, instruments, chattel paper, documents, fixtures and all other personal property of each Borrower and each Guarantor, which security interests shall secure all present and future indebtedness, obligations and liabilities of the Borrowers to the Lenders and the Agent. (b) Guarantees of all Guarantors, which Guarantees shall guarantee all present and future indebtedness, obligations and liabilities of the Borrowers to the Lenders and the Agent. (c) Pledges of 100% of the Capital Stock of all Restricted Subsidiaries owned directly or indirectly by the Company. (d) All real property owned at any time by Howe▇▇ ▇▇▇ustries if the Company acquires, directly or indirectly, Howe▇▇ ▇▇▇ustries at any time. (e) All other security and collateral described in the Security Documents.