Common use of Collateral Assignment and Security Agreement Clause in Contracts

Collateral Assignment and Security Agreement. As security for the Obligations, Borrower hereby sells, assigns, transfers, sets over to, and grants to Collateral Agent, a security interest in, all of its right, title and interest in and to the Borrower Collateral, and in furtherance thereof, Borrower hereby sells, assigns, transfers, sets over and grants to Collateral Agent, for the benefit of the Secured Parties, a security interest in, all of its right, title and interest in and to each Project Documents, whether now owned or hereafter acquired. Borrower confirms the grants of security interest and liens under the Building Loan Mortgage, the Project Loan Mortgage, and the Collateral Account Pledge Agreement, and with respect to specific Project Documents, Borrower hereby confirms the grant of such security interest and liens under the applicable Assignment and Consent.