Common use of Borrower Collateral Clause in Contracts

Borrower Collateral. The Obligations (together with all indebtedness, obligations and duties of Borrower to Bank arising under or in connection with the Existing Term Note, the Revolving Note, the Revolving Credit Agreement, any Term Note, as that term is defined in the Revolving Credit Agreement, and any other Credit Documents, as that term is defined in the Revolving Credit Agreement, all as more particularly described in the Revolving Credit Agreement) shall be secured at all time by a perfected, first priority security interest in all of the Borrower Collateral. Without limiting the generality of the preceding sentence, the Obligations shall be secured at all times by a perfected (both by filing and possession by Bank of the related Equity Certificates), first-priority security interest in and pledge of all of the Capital Securities of each Subsidiary.

Borrower Collateral. The Obligations (together with all indebtedness, obligations and duties of Borrower to Bank arising under or in connection with the Existing Term Note, the Revolving Note, the Revolving Term Credit Agreement, any the Term Note, as that term is defined in the Revolving Credit Agreement, and Facility Note or any other Credit Documents, as that term is defined in the Revolving Term Credit Agreement, all as more particularly described in the Revolving Existing Term Note and the Credit Documents defined and described in the Term Credit Agreement) shall be secured at all time by a perfected, first priority security interest in all of the Borrower Collateral. Without limiting the generality of the preceding sentence, the Obligations shall be secured at all times by a perfected (both by filing and possession by Bank of the related Equity Certificates), first-priority security interest in and pledge of all of the Capital Securities of each Project Subsidiary.