Common use of Security Interests in Collateral Clause in Contracts

Security Interests in Collateral. To secure their Obligations under this Agreement and the other Loan Documents and the Other Liabilities, the Domestic Borrowers have granted (or shall grant) to the Administrative Agent, for its own benefit and the benefit of the other Secured Parties, and the Canadian Borrower and each other Canadian Loan Party have granted (or shall grant) to the Canadian Agent, for its benefit and the benefit of the other Secured Parties, a first-priority security interest in, and hypothec of (subject to Permitted Encumbrances having priority by operation of Applicable Law), all of the Collateral pursuant hereto and to the Security Documents; provided that the Collateral granted by the Canadian Borrower and each other Canadian Loan Party shall secure only the Canadian Liabilities.

Appears in 5 contracts

Samples: Credit Agreement (Toys R Us Inc), Intercreditor Agreement (Toys R Us Inc), Credit Agreement (Toys R Us Inc)

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Security Interests in Collateral. To secure their Obligations under this Agreement and the other Loan Documents and the Other Liabilities, the Domestic Borrowers have granted (or shall grant) grant to the Administrative Agent, for its own benefit and the benefit of the other Secured Parties, Agent and the Canadian Borrower and each other Canadian Loan Party have granted (or shall grant) grant to the Canadian Agent, for its benefit and the benefit of the other Secured Parties, a first-priority security interest in, and hypothec of (subject to Permitted Encumbrances having priority by operation of Applicable Law), all of the Collateral pursuant hereto and to the Security Documents; , provided that the Collateral granted by the Canadian Borrower and each other Canadian Loan Party shall secure only the Canadian Liabilities, and provided further that the Collateral shall secure amounts owing with respect to Cash Management Services and the Other Liabilities of the Domestic Borrowers and of the Canadian Loan Parties, respectively, only to the extent provided in the Security Documents.

Appears in 1 contract

Samples: Credit Agreement (Toys R Us Inc)

Security Interests in Collateral. To secure their Obligations under this Agreement and the other Loan Documents and the Other Liabilities, the Domestic Borrowers have granted (or shall grant) grant to the Administrative Agent, for its own benefit and the benefit of the other Secured Parties, Collateral Agent and the Canadian Borrower and each other Canadian Loan Party have granted (or shall grant) grant to the Canadian Agent, for its benefit and the ratable benefit of the other Secured Parties, a first-priority security interest in, and hypothec of (subject to Permitted Encumbrances having priority by operation of Applicable Law)of, all of the Collateral pursuant hereto and to the Security Documents; , subject to Permitted Encumbrances having priority over the Lien of the Collateral Agent, provided that the Collateral granted by the Canadian Borrower and each other Canadian Loan Party shall secure only the Canadian Liabilities.

Appears in 1 contract

Samples: Credit Agreement (Circuit City Stores Inc)

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Security Interests in Collateral. To secure their Obligations under this Agreement and the other Loan Documents and the Other Liabilities, the Domestic Borrowers have granted (or shall grant) grant to the Administrative Agent, for its own benefit and the benefit of the other Secured Parties, Collateral Agent and the Canadian Borrower and each other Canadian Loan Party have granted (or shall grant) grant to the Canadian Agent, for its benefit and the ratable benefit of the other Secured Parties, a first-priority security interest in, and hypothec of (subject to Permitted Encumbrances having priority by operation of Applicable Law)of, all of the Collateral pursuant hereto and to the Security Documents; , subject to Permitted Encumbrances having priority over the Lien of the Agents, provided that the Collateral granted by the Canadian Borrower and each other Canadian Loan Party shall secure only the Canadian Liabilities.

Appears in 1 contract

Samples: Credit Agreement (Circuit City Stores Inc)

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