Common use of Grant of Security Interest of Each Securitization Subsidiary Clause in Contracts

Grant of Security Interest of Each Securitization Subsidiary. As security for the prompt payment or performance in full when due, whether at stated maturity, by acceleration or otherwise, of all Obligations (including Advances, Yield, all Fees and other amounts at any time owing hereunder), each Securitization Subsidiary hereby assigns and pledges to the Collateral Agent for the benefit of the Secured Parties, and grants to the Collateral Agent for the benefit of the Secured Parties, a security interest in and lien upon (other than Retained Interests and Excluded Amounts), whether now or hereafter existing or in which such Securitization Subsidiary now has or hereafter acquires an interest and wherever the same may be located, the Securitization Subsidiary Collateral Portfolio (collectively, with the Borrower Collateral, the “Collateral”).