Common use of Confirmation of Security Interest Clause in Contracts

Confirmation of Security Interest. As security for the payment of all Loans now or in the future made by Lender to Loan Parties hereunder and for the payment or other satisfaction of all other Liabilities, each Loan Party hereby reconfirms the assignment and grant of a continuing perfected first priority (subject only to Permitted Liens which Lender has expressly agreed may be senior to the security interests of Lender) lien and security interest in and to the Collateral (specifically including the Property described in Section 5 of the Loan Agreement), whether now owned or hereafter acquired, created or arising and wherever located, granted to Lender by such Loan Party under the Existing Credit Documents. Each such Loan Party hereby confirms and agrees that all such security interests and liens granted to Lender under the Existing Credit Documents continue in full force and effect and shall continue to secure the Obligations. All Collateral remains free and clear of any liens other than liens in favor of Lender, except for Permitted Liens. Nothing herein contained is intended to in any way impair or limit the validity, priority and extent of Lender's existing security interest in and liens upon the Collateral.

Confirmation of Security Interest. As security for the payment of all Loans now or in the future made by Lender to Loan Parties Borrowers hereunder and for the payment or other satisfaction of all other Liabilities, each Loan Party Borrower hereby reconfirms the assignment and grant of a continuing perfected first priority (subject only to Permitted Liens which Lender has expressly agreed may be senior to the security interests of Lender) lien lien, charge and security interest in and to the Collateral (specifically including the Property described in Section 5 of the Loan Agreement)Collateral, whether now owned or hereafter acquired, created or arising and wherever located, granted to Lender by such Loan Party Borrower under the Existing Credit DocumentsLoan Agreement and the Other Agreements. Each such Loan Party Borrower hereby confirms and agrees that all such security interests and liens granted to Lender under the Existing Credit Documents Loan Agreement and the Other Agreements continue in full force and effect and shall continue to secure the ObligationsLiabilities. All The Collateral remains free and clear of any liens other than liens in favor of Lender, except for Permitted Liens. Nothing herein contained is intended to in any way impair or limit the validity, priority and extent of Lender's existing security interest in and liens upon the Collateral.