Common use of GRANT OF LIEN Clause in Contracts

GRANT OF LIEN. (A) As security for the prompt satisfaction of all Obligations, each Borrower hereby assigns, transfers, and sets over to Bank all of such Borrower’s Interest in and to, and grants Bank a Lien on, upon and in such Borrower’s Interest in and to the Collateral. (B) No submission by Borrower to Bank of a schedule or other particular identification of Collateral shall be necessary to vest in Bank security title to and a security interest in each and every item of Collateral now existing or hereafter created and acquired, but rather such title and security interest shall vest in Bank immediately upon the creation or acquisition or any item of Collateral hereafter created or acquired, without the necessity for any other or further action by Borrower or by Bank.

GRANT OF LIEN. (A) As security for the prompt satisfaction of all Obligations, each Borrower hereby assigns, transfers, and sets over to Bank all of such Borrower’s 's Interest in and to, and grants Bank a Lien on, upon and in such Borrower’s Interest in and to the Collateral. (B) No submission by Borrower to Bank of a schedule or other particular identification of Collateral shall be necessary to vest in Bank security title to and a security interest in each and every item of Collateral now existing or hereafter created and acquired, but rather such title and security interest shall vest in Bank immediately upon the creation or acquisition or any item of Collateral hereafter created or acquired, without the necessity for any other or further action by Borrower or by Bank.

GRANT OF LIEN. (A) As security for the prompt satisfaction of all Obligations, each Borrower hereby assigns, transfers, and sets over to Bank all of such Borrower’s Interest in and to, and grants Bank a Lien on, upon and in such Borrower’s Interest in and to the Collateral. (B) No submission by Borrower to Bank of a schedule or other particular identification of Collateral shall be necessary to vest in Bank security title to and a security interest in each and every item of Collateral now existing or hereafter created and acquired, but rather such title and security interest shall vest in Bank immediately upon the creation or acquisition or any item of Collateral hereafter created or acquired, without the necessity for any other or further action by Borrower or by Bank.