Common use of Borrower’s Grant of Security Interest Clause in Contracts

Borrower’s Grant of Security Interest. To secure the prompt and complete payment, performance and observance of all Borrower Secured Obligations, and to induce the Administrative Agent, the Conduit Lender and the Committed Lender to enter into this Agreement and perform the obligations required to be performed by them hereunder in accordance with the terms and conditions thereof, the Borrower hereby grants, assigns, conveys, pledges, hypothecates and transfers to the Administrative Agent, for the benefit of itself, the Conduit Lender and the Committed Lender, a Lien upon and security interest in all of its right, title and interest in, to and under, but none of its obligations arising from, the following property, whether now owned by or owing to, or hereafter acquired by or arising in favor of, the Borrower (including under any trade names, styles or derivations of the Borrower), and regardless of where located (all of which being hereinafter collectively referred to as the "Borrower Collateral"):