Grant of Security and Pledge Clause Examples

The Grant of Security and Pledge clause establishes that a borrower or debtor provides the lender or creditor with a security interest in certain assets as collateral for a loan or obligation. This clause typically details which assets are being pledged—such as equipment, inventory, or shares—and outlines the lender's rights to take possession or sell the collateral if the borrower defaults. Its core function is to protect the lender by ensuring they have a legal claim to specific assets, thereby reducing the risk of loss if the borrower fails to meet their obligations.
Grant of Security and Pledge. Each of the Grantors hereby transfers, grants, bargains, sells, conveys, hypothecates, assigns, pledges and sets over to the Lender and hereby grants to the Lender, a perfected pledge and security interest in all of such Grantor's right, title and interest in and to the following (the "Collateral") which pledge and security interest shall have the priorities set forth in the Orders and shall be subject to the Carve-Out: (a) all present and future accounts, accounts receivable and other rights of each of the Grantors to payment for goods sold or leased or for services rendered (except those evidenced by instruments or chattel paper), whether now existing or hereafter arising and wherever arising, and whether or not they have been earned by performance (collectively, the "Accounts"); (b) all goods and merchandise now owned or hereafter acquired by each of the Grantors wherever located, whether in the possession of a Grantor or of a bailee or other Person for sale, storage, transit, processing, use or otherwise consisting of whole goods, components, supplies, materials, or consigned, returned or repossessed goods) which are held for sale or lease or to be furnished (or have been furnished) under any contract of service or which are raw materials, work-in-process, finished goods or materials used or consumed in such Grantor's business or processed by or on behalf of any Grantor (collectively, the "Inventory");
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Grant of Security and Pledge. Each of the Grantors hereby transfers, grants, bargains, sells, conveys, hypothecates, assigns, pledges and sets over to the Administrative Agent for its benefit and the ratable benefit of the holders from time to time of the Secured Obligations (as defined in Section 2 below), including without limitation the Lenders and each Cash Management Provider, its banking Affiliates and their respective successors and assigns (collectively, the “Cash Management Providers”) (all such holders, with the Administrative Agent, collectively, the “Secured Parties”), and hereby grants to the Administrative Agent for the ratable benefit of the Secured Parties a perfected pledge and security interest in, all of the Grantors’ right, title and interest in and to the following (the “Collateral”), which pledge and security interest shall be (x) junior to the liens described in clauses (xii) and (xiii) of the definition of “Permitted Liens” in Section 1.01 of the Credit Agreement, (y) subject to the terms of the Intercreditor Agreement and (z) subject to the Carve-Out: (a) all “accounts” as defined in the Uniform Commercial Code as in effect from time to time in the State of New York, or when the context implies, the Uniform Commercial Code as in effect from time to time in any other applicable jurisdiction (the “UCC”), including by way of example and not of limitation, all present and future accounts, accounts receivable and other rights of each of the Grantors to payment for goods sold or leased or for services rendered (except those evidenced by instruments or chattel paper), whether now existing or hereafter arising and wherever arising, and whether or not they have been earned by performance (collectively, the “Accounts”); (b) (i) all “inventory” as defined in the UCC, and (ii) all goods and merchandise now owned or hereafter acquired by each of the Grantors wherever located, whether in the possession of a Grantor or of a bailee or other person for sale, storage, transit, processing, use or otherwise consisting of whole goods, components, supplies, materials, or consigned, returned or repossessed goods which are held for sale or lease or to be furnished (or have been furnished) under any contract of service or which are raw materials, work-in-process, finished goods or materials used or consumed in such Grantor’s business or processed by or on behalf of any Grantor (regardless of whether characterized as inventory under the UCC) (collectively, the “Inventory”); (c) (i) all ...
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Grant of Security and Pledge. Grantor hereby transfers, grants, bargains, sells, conveys, hypothecates, assigns, pledges and sets over to Collateral Agent for its benefit and the ratable benefit of Noteholders, and hereby grants to Collateral Agent for its benefit and the ratable benefit of Noteholders a perfected pledge and security interest in, all of Grantor' right, title and interest in and to the following (the "COLLATERAL"):
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Grant of Security and Pledge. As security for the Obligations (as hereinafter defined), Pledgor hereby delivers, assigns, pledges, sets over and grants to the Secured Party a first priority security interest in, all of its right, title and interest, whether now existing or hereafter arising or acquired, in and to any and all limited liability company membership interests of the Company, as more fully described on Exhibit A hereto, which is executed by an authorized person of the Pledgor (the “Collateral”).
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Grant of Security and Pledge. The Grantor hereby transfers, grants, bargains, sells, conveys, hypothecates, assigns, pledges and sets over to the Secured Party for its benefit and hereby grants to the Secured Party for its benefit, a perfected pledge and continuing security interest in all of the Grantor's right, title and interest in and to the following whether now owned or existing or hereafter acquired or arising and regardless of where located: (a) all Pledged Collateral; (b) any account payable balance owed or owing to the Grantor by ALPS Canada, Grantor's wholly-owned Canadian subsidiary, from time to time; (c) all books, records, ledger cards and other property at any time evidencing or relating to any of the foregoing; and (d) all proceeds and products of any of the foregoing, in any form, including, without limitation, any claims against third parties for loss or damage to or destruction of any or all of the foregoing and to the extent not otherwise included, all (i) payments under insurance (whether or not the Secured Party is the loss payee thereof), or any indemnity, warranty or guaranty, payable by reason of loss or damage to or otherwise with respect to any of the foregoing and (ii) cash (Clause 3(a) through (d) together, the "Collateral").
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Grant of Security and Pledge. In order to further secure Pledgor's full and complete performance of all obligations under the Note, Pledgor hereby pledges, collaterally assigns and grants to Secured Party a security interest (the "Security Interest") in all of Pledgor's right, title and interest in and to one thousand (1,000) shares of voting common stock of Xxxxxx Enterprises, Inc., a Nevada corporation, standing in Pledgor's name and represented by certificate number _________, together with any additional securities received with respect thereto (all collectively, the "Pledged Shares"), and all rights and privileges pertaining thereto as well as all products, proceeds, profits, interest, dividends, increases and distributions received therefor, including distributions or payments in partial or complete liquidation or redemption as the result of a reclassification, readjustment or reorganization or change in the capital structure of any issuer thereof or any other profit at any time or from time to time receivable or otherwise distributed or delivered to Pledgor in connection therewith and all rights and privileges pertaining thereto, together with all proceeds and substitutions, including all securities, subscription rights, dividends (including, without limitation, cash dividends, stock dividends, dividends paid in stock, liquidated dividends, dividends paid in other property) or other property or benefits to which Pledgor are entitled to receive on account of any of the foregoing Pledged Shares, indirectly or directly.
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Grant of Security and Pledge. Each of the Grantors hereby ----------------------------- transfers, grants, bargains, sells, conveys, hypothecates, assigns, pledges and sets over to the Agent for its benefit and the ratable benefit of the Banks and hereby grants to the Agent for its benefit and the ratable benefit of the Banks, a perfected pledge and security interest in all of the Grantors' right, title and interest in and to the following (the "Collateral") which pledge and ---------- security interest shall have the priorities set forth in Orders and shall be subject to the Carve-Out: (4) all works of art now owned or hereafter acquired by each of the Grantors, including, without limitation, paintings, sketches, drawings, prints, sculptures, crafts, tapestries, porcelain, carvings, artifacts, renderings and designs; (5) all rights, interests, choses in action, causes of action, claims and all other intangible property of each of the Grantors of every kind and nature (other than Accounts, Trademarks, Patents and Copyrights), in each instance whether now owned or hereafter acquired by such Grantor, including, without limitation, all general intangibles, but excluding causes of action under the Bankruptcy Code (it being understood and agreed, however, that the proceeds of any such causes of action shall be available to repay the Obligations); all corporate and other business records; all loans, royalties, and other obligations receivable; all inventions, designs, trade secrets, computer programs, software, printouts and other computer materials, goodwill, registrations, copyrights, licenses, franchises, customer lists, credit files, correspondence, and advertising materials (to the extent the same are assignable); all customer and supplier contracts, firm sale orders, rights under license and franchise agreements (including all license agreements with any other Person in connection with any of the Patents and Trademarks or such other Person's names or marks, whether such Grantor is a licensor or licensee under any such license agreement but only to the extent such license agreements are assignable), and other contracts and contract rights; all interests in partnerships and joint ventures; all tax refunds and tax refund claims; all right, title and interest under leases, subleases, licenses and concessions and other agreements to the extent assignable relating to real or personal property; all payments due or made to each of the Grantors in connection with any requisition, confiscation, ...
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Grant of Security and Pledge. In order to further secure the Pledgor's full and complete performance of all obligations under the Note, the Pledgor hereby pledges, collaterally assigns and grants to the Company a security interest (the "Security Interest") in all of Pledgor's right, title and interest in and to the Pledged Shares, and all rights and privileges pertaining thereto as well as all products, proceeds, profits, interest, dividends, increases and distributions received therefor, including distributions or payments in partial or complete liquidation or redemption as the result of a reclassification, readjustment or reorganization or change in the capital structure of any issuer thereof or any other profit at any time or from time to time receivable or otherwise distributed or delivered to Pledgor in connection therewith and all rights and privileges pertaining thereto, together with all proceeds and substitutions, including all securities, subscription rights, dividends (including, without limitation, cash dividends, stock dividends, dividends paid in stock, liquidated dividends, dividends paid in other property) or other property or benefits to which Pledgor is entitled to receive on account of any of the foregoing Pledged Shares, indirectly or directly.
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Grant of Security and Pledge. (a) The Grantor hereby transfers, grants, bargains, sells, conveys, hypothecates, assigns, pledges and sets over to the Pledge Agent for the ratable benefit of the Holders and
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Related to Grant of Security and Pledge

  • Pledge; Grant of Security Interest As collateral security for the payment and performance in full of all the Secured Obligations, each Grantor hereby pledges and grants to the Collateral Agent for its benefit and for the benefit of the other Credit Parties, a lien on and security interest in and to all of the right, title and interest of such Grantor in, to and under all of such Grantor’s personal property and interests in such personal property, wherever located, and whether now existing or hereafter arising or acquired from time to time (collectively, the “Collateral”), including, without limitation: (a) all Accounts; (b) all Goods, including Equipment, Inventory and Fixtures; (c) all Documents, Instruments and Chattel Paper; (d) all Letters of Credit and Letter-of-Credit Rights; (e) all Securities Collateral; (f) all Investment Property; (g) all Intellectual Property Collateral; (h) all Commercial Tort Claims, including, without limitation, those described in Section IV of the Perfection Certificate; (i) all General Intangibles; (j) all Deposit Accounts; (k) all Supporting Obligations; (l) all books and records relating to the Collateral; and (m) to the extent not covered by clauses (a) through (l) of this sentence, all other personal property of such Grantor, whether tangible or intangible and all Proceeds and products of each of the foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing, any and all proceeds of any insurance, indemnity, warranty or guaranty payable to such Grantor from time to time with respect to any of the foregoing. Notwithstanding anything to the contrary contained in clauses (a) through (m) above, the security interest created by this Security Agreement shall not extend to, and the term “Collateral” shall not include, any Excluded Property and the Grantors shall from time to time at the request of the Collateral Agent give written notice to the Collateral Agent identifying in reasonable detail the Excluded Property and shall provide to the Collateral Agent such other information regarding the Excluded Property as the Collateral Agent may reasonably request.

  • Grant of Security and Secured Obligations SECTION 2.1 Grant of Security Interest and Pledge 4 SECTION 2.2 Security Interest 5

  • Grant of Security As collateral security for the due and punctual payment and performance in full of the Obligations, as and when due, each Grantor hereby pledges and assigns to the Collateral Agent, its successors and permitted assigns, and hereby grants to the Collateral Agent, its successors and permitted assigns, for the ratable benefit of the Collateral Agent and the Noteholders, a continuing Lien on and security interest in, all of such Grantor’s right, title and interest in, to and under the following (the “Collateral”): (i) the Patents and Patent applications set forth in Schedule A hereto; (ii) the Trademark and service mark registrations and applications set forth in Schedule B hereto (provided that no security interest shall be granted in United States intent-to-use trademark applications to the extent that, and solely during the period in which, the grant of a security interest therein would impair the validity or enforceability of such intent-to-use trademark applications under applicable federal law), together with the goodwill symbolized thereby; (iii) all Copyrights, whether registered or unregistered, now owned or hereafter acquired by such Grantor, including, without limitation, the copyright registrations and applications and exclusive copyright licenses set forth in Schedule C hereto; (iv) all reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations of any of the foregoing, all rights in the foregoing provided by international treaties or conventions, all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto; (v) any and all claims for damages and injunctive relief for past, present and future infringement, dilution, misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, such damages; and (vi) any and all Proceeds, including without limitation Cash and Noncash Proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect to, and Supporting Obligations relating to, any and all of the collateral of or arising from any of the foregoing.

  • Reaffirmation of Security Interests Each Loan Party (a) affirms that each of the Liens granted in or pursuant to the Loan Documents are valid and subsisting and (b) agrees that this Amendment does not in any manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Loan Documents.

  • Assignment of Security Interest If at any time any Grantor shall take a security interest in any property of an Account Debtor or any other person to secure payment and performance of an Account, such Grantor shall promptly assign such security interest to the Collateral Agent. Such assignment need not be filed of public record unless necessary to continue the perfected status of the security interest against creditors of and transferees from the Account Debtor or other person granting the security interest.