Common use of Grant of Security Interest — Third Lien Clause in Contracts

Grant of Security Interest — Third Lien. To secure the Third Lien Secured Obligations, each Grantor hereby assigns and pledges to the Third Lien Security Trustee, for its benefit and the benefit of the other Third Lien Secured Parties, and hereby grants to the Third Lien Security Trustee for its benefit and the benefit of the other Third Lien Secured Parties, a subordinated security interest in (subject and subordinate in all respects to the Lien of the First Lien Secured Parties and the Lien of the Second Lien Secured Parties), all of such Grantor’s right, title and interest in and to the Collateral.

Grant of Security Interest — Third Lien. To secure the Third Lien Secured Obligations, each the undersigned Grantor hereby assigns and pledges to the Third Lien Security Trustee, for its benefit and the benefit of the other Third Lien Secured Parties, and hereby grants to the Third Lien Security Trustee for its benefit and the benefit of the other Third Lien Secured Parties, Parties a subordinated security interest in (subject and subordinate in all respects to the Lien of the First Lien Secured Parties and the Lien of the Second Lien Secured Parties), all of such Grantor’s its right, title and interest in and to the Supplementary Collateral.