Common use of Security Granted Clause in Contracts

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. 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 execute, authorize 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 execute, authorize 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. Parent and the Borrower hereby consent and authorize the Administrative Agent and its agents, successors and assigns to file any and all necessary financing statements under the UCC, assignments or continuation statements as necessary from time to time (in the Administrative Agent's sole discretion) to perfect (or continue perfection) of the Liens granted pursuant to the Financing Documents.

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 Credit Parties (as applicable) in HRY HECO, Hallwood Hotels, Broc▇, ▇▇Y, Hall▇▇▇▇ ▇▇▇lty and HCRE as described in the Pledge AgreementAgreements, and (b) a collateral assignment of the Parent Intercompany NotesNote. 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 Agreements and the Collateral Assignment of Intercompany NotesNote), and other documents, instruments, agreements and certificates (including, without limitation, (1i) such UCC-1 financing statements as the Administrative Agent shall request to fully evidence and perfect the Liens created by the Pledge Agreement Agreements and the Collateral Assignment of Intercompany NotesNote, and (2ii) the certificates evidencing the issued and outstanding Equity owned by the Borrower Credit Parties (as applicable) in HRYHECO, Hallwood Hotels, Broc▇, ▇▇Y, Hall▇▇▇▇ ▇▇▇lty and HCRE as described in the Pledge AgreementAgreements, 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 Sections 4.2, Section 4.3, Section 4.4 4.5 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.