Collateral; Existing Security Documents Sample Clauses

Collateral; Existing Security Documents. (a) As security for repayment of all of the Loans and all other Indebtedness of Borrower to U.S. Bank, (i) Borrower and each Guarantor shall grant to U.S. Bank a first and exclusive Lien in substantially all of its personal property, tangible and intangible, including without limitation all accounts, general intangibles, chattel paper, documents, inventory, equipment, leasehold interests, trademarks, patents, copyrights, software, trade names, instruments, investment property now owned or hereafter acquired, and proceeds thereof, and (ii) Borrower and each Guarantor shall grant to U.S. Bank, a first and exclusive lien against all of the capital stock of their respective domestic Subsidiaries (now and hereafter formed) and 65 percent of the capital stock of their respective foreign Subsidiaries (now and hereafter formed). (b) The parties acknowledge and agree that all security agreements, pledge agreements, financing statements, and other Loan Documents executed in connection with the Existing Credit Agreement, creating, evidencing, or perfecting U.S. Bank’s security interests in and liens against the Collateral, shall remain in full force and effect and shall secure all of Borrower’s Indebtedness to U.S. Bank, as such Indebtedness may be amended or restated in this Agreement. Borrower agrees to execute, and cause each Guarantor to execute, such amendments to any such Loan Documents, or such amended and restated security agreements or pledge agreements, as are deemed necessary by U.S. Bank to reflect the terms of this Agreement.