Common use of Grant of Security; Assignment of Leases Clause in Contracts

Grant of Security; Assignment of Leases. To secure the payment, promptly when due, and the punctual performance of all of the Liabilities, each Debtor hereby: (A) pledges and assigns to the Secured Party, and grants to the Secured Party and agrees that the Secured Party shall have, a general continuing lien upon and security interest in all the Collateral, which lien and security interest shall be a general continuing first priority lien upon and security interest in all the Collateral. (B) assigns and transfers to the Secured Party all such Debtor's right, title and interest in and to all rentals and other amounts payable under the Leases, and all proceeds from insurance and any proceeding, payable to or receivable by such Debtor under or in connection therewith, and all rights, powers and remedies (but none of the duties or obligations, if any) of such Debtor under the Leases, including all rights of such Debtor to give and receive any notice, consent, waiver, demand or approval under or in respect of the Leases, to exercise any election or option thereunder or in respect thereof, to accept any surrender of any property subject thereto, to execute and deliver any xxxx of sale for any such property, and to do all other things which such Debtor is entitled to do under the Leases.

Grant of Security; Assignment of Leases. To secure the payment, promptly when due, and the punctual performance of all of the Liabilities, each Debtor hereby: (A) pledges and assigns to the Secured Party, and grants to the Secured Party and agrees that the Secured Party shall have, a general continuing lien upon and security interest in all the Collateral, which lien and security interest shall be a general continuing first priority lien upon and security interest in all the Collateral. (B) assigns and transfers to the Secured Party all such Debtor's right, title and interest in and to all rentals and other amounts payable under the Leases, and all proceeds from insurance and any proceeding, payable to or receivable by such Debtor under or in connection therewith, and all rights, powers and remedies (but none of the duties or obligations, if any) of such Debtor under the Leases, including all rights of such Debtor to give and receive any notice, consent, waiver, demand or approval under or in respect of the Leases, to exercise any election or option thereunder or in respect thereof, to accept any surrender of any property subject thereto, to execute and deliver any xxxx bill of sale for any such propertyproperxx, and to do all other things which such Debtor is entitled to do under the Leases.

Grant of Security; Assignment of Leases. To secure the payment, promptly when due, and the punctual performance of all of the Liabilities, each the Debtor hereby: (Aa) pledges and assigns to the Secured Party, and grants to the Secured Party and agrees that the Secured Party shall have, a general continuing lien upon and security interest in all the Collateral, which lien and security interest shall be a general continuing first priority lien upon and security interest in all the Collateral. (Bb) assigns and transfers to the Secured Party all such Debtor's right, title and interest in and to all rentals and other amounts payable under the Leases, and all proceeds from insurance and any proceeding, payable to or receivable by such the Debtor under or in connection therewith, and all rights, powers and remedies (but none of the duties or obligations, if any) of such the Debtor under the Leases, including all rights of such the Debtor to give and receive any notice, consent, waiver, demand or approval under or in respect of the Leases, to exercise any election or option thereunder or in respect thereof, to accept any surrender of any property subject thereto, to execute and deliver any xxxx of sale for any such property, and to do all other things which such Debtor is entitled to do under the Leases.