Common use of After-Acquired Collateral Clause in Contracts

After-Acquired Collateral. The Pledgor hereby agrees, immediately upon the acquisition thereof, to pledge, assign, transfer and deliver to the Secured Party, pursuant to this Agreement any and all additional items of Collateral hereafter acquired by it, directly or indirectly. The Pledgor agrees that any such additional Collateral (and the proceeds therefrom) shall thereafter be included in the definition of Collateral for all purposes hereunder and shall be subject to the security interest granted herein, and the Pledgor shall deliver to the Secured Party immediately upon receipt any certificates or instruments evidencing the ownership of such additional item of Collateral received by it (or the Secured Party may retain any such certificates or instruments which are issued or prepared by or on behalf of the Secured Party), duly endorsed in blank or accompanied by proper instruments of transfer or assignment, and take such other action as may be necessary for the Secured Party to obtain a security interest in such Collateral. Without limitation of the foregoing if the Pledgor shall, as a result of its ownership of any Collateral, become entitled to receive or shall receive any stock certificate (including any certificate representing a stock divided or a distribution in connection with any reclassification, increase or reduction of capital or any certificate issued in connection with any reorganization), option or rights, whether in addition to, in substitution of, as a conversion of, upon exercise of, or in exchange for any of the Collateral, or otherwise in respect thereof, the Pledgor shall accept the same as the agent of the Secured Party, hold the same in trust for the Secured Party and deliver the same forthwith to the Secured Party in the exact form received, duly endorsed by the Pledgor to the Secured Party, if required, together with an undated stock power covering such certificate, option or right duly executed in blank by the Pledgor and with, if the Secured Party so requires, signature guaranteed, to be held by the Secured Party, subject the terms hereof, as additional Collateral.

After-Acquired Collateral. The Pledgor Debtor hereby agrees, immediately upon the ------------------------- acquisition thereof, to pledge, assign, transfer and deliver to the Secured Party, pursuant to this Agreement Party any and all additional items of Collateral hereafter acquired by it, directly or indirectly. The Pledgor Debtor agrees that any such additional Collateral (and the proceeds therefrom) shall thereafter be included in the definition of Collateral for all purposes hereunder and shall be subject to the security interest granted herein, and the Pledgor Debtor shall deliver to the Secured Party immediately upon receipt any certificates or instruments evidencing the ownership of such additional item of Collateral received by it (or the Secured Party may retain any such certificates or instruments which are issued or prepared by or on behalf of the Secured Party)it, duly endorsed in blank or accompanied by proper instruments of transfer assignment or assignment, and take such other action as may be necessary for the Secured Party to obtain a security interest in such Collateral. Without limitation of the foregoing if the Pledgor Debtor shall, as a result of its ownership of any Collateral, become entitled to receive or shall receive any stock certificate (including any certificate representing a stock divided dividend or a distribution in connection with any reclassification, increase or reduction of capital or any certificate issued in connection with any reorganization), option or rights, whether in addition to, in substitution of, as a conversion of, upon exercise of, or in exchange for any shares of the Collateral, or otherwise in respect thereof, the Pledgor Debtor shall accept the same as the agent of the Secured Party, hold the same in trust for the Secured Party and deliver the same forthwith to the Secured Party in the exact form received, duly endorsed by the Pledgor Debtor to the Secured Party, if required, together with an undated stock power covering such certificate, option or right duly executed in blank by the Pledgor Debtor and with, if the Secured Party so requires, signature guaranteed, to be held by the Secured Party, subject the terms hereof, as additional Collateral.