Common use of Grant of Assignment and Security Interest Clause in Contracts

Grant of Assignment and Security Interest. In consideration of and as security for the full and complete payment of all of the Loan, Borrower hereby agrees that Lender shall at all times have, and hereby grants to Lender a security interest in all of the Collateral, including (without limitation) all of Borrower’s future Collateral, irrespective of any lack of knowledge by Lender of the creation or acquisition thereof. Borrower, and Lender hereby acknowledge and agree that, with respect to any ITU Application included within the Collateral, to the extent such an ITU Application would, under the Trademark Act, be deemed to be transferred in violation of 15 U.S.C. § 1060(a) as a result of the security interest granted herein, or otherwise invalidated or made unenforceable as a result of the execution or performance of this Agreement, no security interest shall be deemed to have been granted in such ITU Application (notwithstanding the provisions of this Agreement or any other Loan Document) until such time as the circumstances that would give rise to such violation, invalidation or unenforceability no longer exist.

Grant of Assignment and Security Interest. In consideration of and as security for the full and complete payment of all of the LoanObligations, Borrower Pledgor hereby agrees that Lender shall at all times have, and hereby grants to Lender Lender, a security interest in all of the Collateral, including (without limitation) all of Borrower’s Pledgor's future Collateral, irrespective of any lack of knowledge by Lender of the creation or acquisition thereof. Borrower, Pledgor and Lender hereby acknowledge acknowledges and agree that, agrees that with respect to any ITU Application included within the Collateral, to the extent such an ITU Application would, would under the Trademark Act, Act be deemed to be transferred in violation of 15 U.S.C. § 1060(a) as a result of the security interest granted herein, herein or otherwise invalidated or made unenforceable as a result of the execution or performance of this Agreement, no security interest shall be deemed to have been granted in such ITU Application (notwithstanding the provisions of this Agreement or any other Loan Document) until such time as the circumstances that would give rise to such violation, invalidation or unenforceability no longer exist.