Common use of Security for Liabilities Clause in Contracts

Security for Liabilities. The Pledged Collateral secures the prompt performance and observance of each of the Pledgor's obligations and liabilities arising under or out of Section 3(a) of the Stockholders Agreement (together with the related definitions and ancillary provisions) and this Agreement (all such obligations and liabilities of the Pledgor now existing or hereafter arising being hereinafter referred to as the "Liabilities").