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

Grant of Lien and Security Interest. Title to the Items of Equipment shall remain in Lessor as security for the obligations of Lessee hereunder and under the other Operative Documents to which it is a party until Lessee has fulfilled all of its obligations hereunder and thereunder. Lessee hereby grants, assigns, hypothecates, transfers and pledges to Lessor, a lien and security interest on all of Lessee's right, title and interest in and to, whether now or hereafter existing, each Item of Equipment and in each Sublease covering any Item of Equipment that may be entered into from time to time in accordance with the provisions of this Lease, and Lessee hereby grants to Lessor a continuing lien and security interest in and assigns to Lessor all of Lessee's rights, title and interest in all of the other Lessee Collateral, to secure the payment of all sums due hereunder and under the other Operative Documents to which it is a party and the performance of all other obligations hereunder and under the other Operative Documents to which it is a party. Lessee also hereby authorizes Lessor and Agent to file UCC financing statements on and after the Delivery Date to the extent necessary to perfect such security interests granted pursuant to the Operative Documents that may be perfected under the UCC through such filings. Further, Lessee hereby assigns to Lessor all of its rights under any and all purchase contracts relating to each Item of Equipment.

Grant of Lien and Security Interest. Title to the Items of Equipment shall remain in Lessor as security for the obligations of Lessee hereunder and under the other Operative Documents to which it is a party until Lessee has fulfilled all of its obligations hereunder and thereunder. Lessee hereby grants, assigns, hypothecates, transfers and pledges to Lessor, a lien and security interest on all of Lessee's ’s right, title and interest in and to, whether now or hereafter existing, each Item of Equipment and in each Sublease covering any Item of Equipment that may be entered into from time to time in accordance with the provisions of this Lease, and Lessee hereby grants to Lessor a continuing lien on, and security interest in in, and assigns to Lessor all of Lessee's ’s rights, title and interest in all of the other Lessee Collateral, to secure the payment of all sums due hereunder and under the other Operative Documents to which it is a party and the performance of all other obligations hereunder and under the other Operative Documents to which it is a party; provided, however, that the lien on, and security interest in, the portion of the Lessee Collateral which constitutes Cash Collateral will not secure any obligations of the Lessee under the Operative Documents with respect to the Series B Lease Balance or any amounts due and owing with respect to such Series B Lease Balance or to the Series B Assignees, if any. Lessee also hereby authorizes Lessor and Agent to file UCC financing statements on and after the Delivery Date to the extent necessary to perfect such security interests granted pursuant to the Operative Documents that may be perfected under the UCC through such filings. Further, Lessee hereby assigns to Lessor all of its rights under any and all purchase contracts relating to each Item of Equipment.