Security Granted Sample Clauses
The 'SECURITY GRANTED' clause establishes that a borrower or obligor provides collateral or a security interest to a lender or creditor as assurance for fulfilling their obligations under an agreement. This typically involves pledging assets such as property, equipment, or receivables, which the lender can claim or sell if the borrower defaults on their obligations. By formalizing the grant of security, this clause protects the lender’s interests and reduces their risk by ensuring there are tangible assets available to recover losses in case of non-payment or breach.
Security Granted. The Lender Indebtedness shall be secured by (a) perfected, first priority Liens covering and encumbering the issued and outstanding Equity owned by the Borrower in HRY as described in the Pledge Agreement, and (b) a collateral assignment of the Parent Intercompany Notes. In furtherance thereof, Parent and the Borrower hereby agree to execute and deliver (and cause each other Credit Party to execute and deliver) to the Administrative Agent for the benefit of the Lenders, on the Closing Date and thereafter promptly upon request by the Administrative Agent, such Security Instruments (including, without limitation, the Pledge Agreement and the Collateral Assignment of Intercompany Notes), and other documents, instruments, agreements and certificates (including, without limitation, (1) such UCC-1 financing statements as the Administrative Agent shall request to fully evidence and perfect the Liens created by the Pledge Agreement and the Collateral Assignment of Intercompany Notes, and (2) the certificates evidencing the issued and outstanding Equity owned by the Borrower in HRY, as described in the Pledge Agreement, endorsed or accompanied by appropriate blank stock powers), as the Administrative Agent shall deem necessary or appropriate in its sole discretion to create, evidence and perfect the Liens contemplated by this Section 4.1. In addition to the foregoing, in the event the Borrower submits additional Collateral hereunder pursuant to Section 4.2, Section 4.3, Section 4.4 or Section 7.4, or otherwise pursuant to the terms of this Agreement or the other Financing Documents, the Borrower shall simultaneously with the delivery of such Collateral execute and deliver (or cause the execution and delivery) to the Administrative Agent for the benefit of the Lenders such Security Instruments and other documents, instruments, agreements and certificates as the Administrative Agent shall deem necessary or appropriate in its sole discretion to create, evidence and perfect the Liens encumbering such Collateral.
Security Granted. Mortgagor specially grants to Mortgagee, as security for the Secured Indebtedness described in Article 4, the following rights in or over the Encumbered Property described in Article 3:
A. A mortgage, hypothecation and pledge of the Subject Property and such other portions of the Encumbered Property as may be susceptible of being so encumbered; and
B. A security interest in all of the goods, including all equipment, inventory and fixtures and all intangibles, including all accounts and general intangibles, now or hereafter comprising a part of the Encumbered Property.
Security Granted. 38 Section 4.2
Security Granted. Mortgagor specially grants to Mortgagee, as security for the Secured Indebtedness described in Article 3, the following rights in or over the Mortgaged Property:
A. a mortgage, hypothec and pledge of the Mortgaged Property described in clauses A and B of Section 2.1 and such other portions of the Mortgaged Property as may be susceptible of being so encumbered; and
B. a security interest in all of the goods, including, without limitation, all equipment, inventory and fixtures, "as-extracted collateral," and all intangibles, including, without limitation, all accounts and general intangibles, now or hereafter comprising a part of the Mortgaged Property and such other portions of the Mortgaged Property as may be susceptible to being subjected to a security interest pursuant to the U.C.C.
Security Granted