Common use of Senior Obligation Clause in Contracts

Senior Obligation. As an inducement for the Investor to enter into this Agreement and to purchase the Note, all obligations of the Obligors pursuant to the Transaction Documents shall be secured by a security interest in and lien upon substantially all of the assets of the Obligors.

Senior Obligation. As an inducement for the Investor Investors to enter into this Agreement and to purchase the NoteNotes, all obligations of the Obligors pursuant to the Transaction Documents shall be secured by a security interest in and lien upon substantially all of the assets of the ObligorsObligors except as set forth in the Security Agreement.

Senior Obligation. As an inducement for the Investor Investors to enter into this Agreement and to purchase the NoteNotes, all obligations of the Obligors pursuant to the Transaction Documents shall be secured by a security interest in and lien upon substantially all of the certain assets of the ObligorsObligors as set forth in the Security Agreement.

Senior Obligation. As an inducement for the each Major Investor to enter into this Agreement and to purchase the NoteNotes being purchased by Major Investors, all obligations of the Obligors Company pursuant to this Agreement and the Transaction Documents Notes being purchased by Major Investors shall be secured by a first priority security interest in and lien upon substantially all of the assets of the ObligorsCompany, other than as described in the Security Agreement.