Common use of Collateral and Security Interest Clause in Contracts

Collateral and Security Interest. The Member agrees that any and all letters of credit issued by the Bank on behalf of the Member shall be secured in accordance with all the terms and provisions of the security agreement existing between the Bank and the Member as if such letter of credit were an advance granted under such security agreement. The Member further agrees that any and all amounts due and payable to the Bank under this Agreement shall be secured in accordance with all the terms and provisions of the security agreement existing between the Bank and the Member as if such amounts were advances granted under such security agreement.

Collateral and Security Interest. The Member agrees that any and all letters of credit issued by the Bank on behalf of the Member shall be secured in accordance with all the terms and provisions of the security agreement existing between the Bank and the Member as if such letter of credit were an advance granted under such security agreement. The Member further agrees that any and all amounts due and payable to the Bank under this Agreement shall be secured in accordance with all the terms and provisions of the security agreement existing between the Bank and the Member as if such amounts were advances granted under such security agreement.

Collateral and Security Interest. The Member Customer agrees that any and all letters of credit issued by the Bank on behalf of the Member Customer shall be secured in accordance with all the terms and provisions of the security agreement existing between the Bank and the Member Customer as if such letter of credit were an advance granted under such security agreement. The Member Customer further agrees that any and all amounts due and payable to the Bank under this Agreement shall be secured in accordance with all the terms and provisions of the security agreement existing between the Bank and the Member Customer as if such amounts were advances granted under such security agreement.