Common use of Security Interest in Intellectual Property Clause in Contracts

Security Interest in Intellectual Property. To secure the complete and timely payment, performance and satisfaction of all the Obligations, the Borrower hereby grants to the Administrative Agent, for the benefit of the Administrative Agent and the Lenders, a security interest in, as and by way of a first mortgage and security interest having priority over all other security interests, with power of sale to the extent permitted by applicable law, all the Borrower's now owned or existing and hereafter acquired or arising:

Security Interest in Intellectual Property. To secure the complete and timely payment, performance and satisfaction of all the Obligations, the Borrower Grantor hereby grants to the Administrative Agent, for the benefit of the Administrative Agent and the Lenders, a security interest in, as and by way of a first mortgage and security interest having priority over all other security interests, with power of sale to the extent permitted by applicable law, all the BorrowerGrantor's now owned or existing and hereafter acquired or arising: