Common use of Guarantor Security Documents Clause in Contracts

Guarantor Security Documents. All of the obligations of the Subsidiaries under the Guaranty Agreement shall be secured by a lien on all the personal property and assets of each respective Subsidiary now existing or hereinafter acquired granted pursuant to those certain Guarantor Security Agreements dated as of February 1, 2007 (each a “Guarantor Security Agreement”), which, except for Permitted Liens, shall be a first lien. The parties acknowledge and agree that the term “Obligations” as defined in each Guaranty Security Agreement, includes all obligations of each applicable Subsidiary to the Purchaser, including without limitation, those obligations of such Subsidiary under the applicable Guaranty Security Agreement.