Common use of Security Interest/Collateral Clause in Contracts

Security Interest/Collateral. As further inducement for WFBC to enter into this Agreement, Customer grants to WFBC, as collateral for the repayment of any and all obligations and liabilities whatsoever of Customer to WFBC, a security interest, under the Uniform Commercial Code, in the following described property, as defined under the Uniform Commercial Code: All presently existing or hereafter arising, now owned or hereafter acquired property including, but not limited to, accounts, general intangibles, contract rights, investment property, deposit accounts, the Collected Reserve established hereunder, inventory, instruments, chattel paper, documents, insurance proceeds, and all books and records pertaining to accounts and all proceeds and products of the foregoing property together with a controlled collateral account to be maintained by Customer and the Affiliates at Wxxxx Fargo Bank, N.A. and controlled by WFBC with a balance of $3,500,000 (the “Collateral Account”) which account shall serve as additional collateral for Customer’s obligations to WFBC hereunder. The Collateral Account shall be interest bearing and the interest shall accrue to the benefit of Customer in the absence of the occurrence of an Event of Default.

Security Interest/Collateral. As further inducement for WFBC to enter into this Agreement, Customer grants to WFBC, as collateral for the repayment of any and all obligations and liabilities whatsoever of Customer to WFBC, a security interest, under the Uniform Commercial Code, in the following described property, as defined under the Uniform Commercial Code: All presently existing or hereafter arising, now owned or hereafter acquired property including, but not limited to, accounts, general intangibles, contract rights, investment property, deposit accounts, the Collected Reserve established hereunder, inventory, instruments, chattel paper, documents, insurance proceeds, and all books and records pertaining to accounts and all proceeds and products of the foregoing property together with a controlled collateral account to be maintained by Customer and the Affiliates at Wxxxx Xxxxx Fargo Bank, N.A. and controlled by WFBC with a balance of $3,500,000 (the “Collateral Account”) which account shall serve as additional collateral for Customer’s obligations to WFBC hereunder. The Collateral Account shall be interest bearing and the interest shall accrue to the benefit of Customer in the absence of the occurrence of an Event of Default.

Security Interest/Collateral. As further inducement for WFBC to enter into this Agreement, Customer grants to WFBC, as collateral for the repayment of any and all obligations and liabilities whatsoever of Customer to WFBC, a security interest, under the Uniform Commercial Code, in the following described property, as defined under the Uniform Commercial Code: All presently existing or hereafter arising, now owned or hereafter acquired property including, but not limited to, accounts, general intangibles, contract rights, investment property, deposit accounts, the Collected Reserve established hereunder, inventory, instruments, chattel paper, documents, insurance proceeds, and all books and records pertaining to accounts and all proceeds and products of the foregoing property together with a controlled collateral account to be maintained by Customer and the Affiliates at Wxxxx Fargo Bank, N.A. and controlled by WFBC with a balance of $3,500,000 1,500,000 (the “Collateral Account”) which account shall serve as additional collateral for Customer’s obligations to WFBC hereunder. The Collateral Account shall be interest bearing and the interest shall accrue to the benefit of Customer in the absence of the occurrence of an Event of Default.