Common use of Grant of First Priority Security Interest Clause in Contracts

Grant of First Priority Security Interest. As collateral security for the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) and performance of the Secured Obligations and obligations of every kind and nature of the Obligor now or hereafter incurred, existing or created, to any of the Purchasers (including, without limitation, under the Note Purchase Agreement), the Obligor hereby pledges and grants to the Collateral Agent, for the ratable benefit of the Holders, a first priority security interest in all of the Obligor's right, title and interest in and to the following property, whether now owned or hereafter acquired by the Obligor and whether now existing or hereafter coming into existence including, without limitation, all real and personal property and interests in real and personal property (collectively, the "First Priority Collateral"):

Grant of First Priority Security Interest. As collateral security for the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) and performance of the Secured Obligations and obligations of every kind and nature of the Obligor now or hereafter incurred, existing or created, to any of the Purchasers Holder (including, without limitation, under the Convertible Note Purchase Agreement), the Obligor hereby pledges and grants to the Collateral Agent, for the ratable benefit of the Holders, Holder a first priority security interest in all of the Obligor's right, title and interest in and to the following property, whether now owned or hereafter acquired by the Obligor and whether now existing or hereafter coming into existence including, without limitation, all real and personal property and interests in real and personal property (collectively, the "First Priority Collateral"):