Common use of Creation and Description of Security Interest Clause in Contracts

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the Commercial Code of the State of California, hereby pledges all of the Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option Agreement, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of --------------------------------------------- the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the [state] Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613______, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the Commercial Code of the State of California, hereby pledges all of the Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613612, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option Agreement, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of --------------------------------------------- the --------------------------------------------- transfer of the Shares to Pledgor under the Option AgreementLoan, Pledgor, pursuant to the Commercial Code of the State of California, hereby pledges all of the Shares shares of Common Stock (herein sometimes referred to as the "Shares" or "Collateral") represented by certificate number 613, 50,000 shares duly endorsed in blank or with executed stock powers, and herewith delivers said certificate shares to the Secretary of Pledgee ("Pledgeholder"), who . Who shall hold said certificate as bailee for Pledgor subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee ifassignment), as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as bailee for Pledgor as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementPurchase Agreements, and the Pledgeholder shall not encumber or dispose of such Shares except in the accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of --------------------------------------------- the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate ----------- number 61363, duly endorsed in blank or with executed stock powers, and herewith --------- delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613233, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of --------------------------------------------- the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613______________, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Purchase Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Pledged Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613______, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Pledged Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option Purchase Agreement, and the Pledgeholder shall not encumber or dispose of such Pledged Shares except in accordance with the provisions of this Security Agreement and the Purchase Agreement.

Creation and Description of Security Interest. In consideration --------------------------------------------- of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Purchase Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the Shares (herein sometimes referred to as the "Collateral") ). The Shares are represented by ---------- certificate number 613__________, duly endorsed in blank or with executed stock Stock powers, and Pledgor herewith delivers said certificate of the Escrow Agent pursuant to the Secretary of Pledgee ("Pledgeholder")Purchase Agreement, who shall hold said certificate subject to the terms and conditions of this Security Agreement. . (a) The pledged stock Stock (together with an executed blank stock Stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder Escrow Agent as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option Purchase Agreement, and the Pledgeholder Escrow Agent shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the Commercial Code of the State of California, hereby pledges all of the Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613614, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option Agreement, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613_________, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment assignment, attached hereto as Exhibit B, for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option Agreement, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613______, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary Chief Financial Officer of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the Delaware Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613___, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613241, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the [CALIFORNIA] Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 613______, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of --------------------------------------------- the --------------------------------------------- transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the California Commercial Code of the State of CaliforniaCode, hereby pledges all of the such Shares (herein sometimes referred to as the "Collateral") represented by certificate number 61378, duly endorsed in blank or with executed stock powers, and herewith xxxxxxxx delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.

Creation and Description of Security Interest. In consideration of the --------------------------------------------- transfer of the Shares to Pledgor under the Option Purchase Agreement, Pledgor, pursuant to the Commercial Code of the State of California, hereby pledges all of the such Shares (herein sometimes referred to as the "“Collateral"”) represented by certificate number 613, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate all such Shares and such Shares as may be received in the future by the Pledgee under the terms of the Purchase Agreement to the Secretary of Pledgee ("“Pledgeholder"”), who shall hold said certificate Shares subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the option AgreementOption Agreements, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.