Common use of Liens and Security Interest Clause in Contracts

Liens and Security Interest. To secure performance by the Borrower Parties of the payment and performance of the Obligations: (i) each Fund Borrower shall grant to Administrative Agent, for the benefit of each Lender an exclusive, perfected, first priority security interest (subject to Permitted Liens) and Lien in and to the Collateral Accounts pursuant to an Assignment of Account for the Collateral Accounts; and (ii) each Fund Borrower shall grant to Administrative Agent, for the benefit of each Lender, a perfected, first priority security interest (subject to Permitted Liens) and Lien in and on the Capital Calls, Capital Commitments, and Capital Contributions with respect to such Fund Borrower’s, including, without limitation, any rights to make Capital Calls, receive payment of Capital Commitments and enforce the payment thereof pursuant to a Security Agreement and to enforce the payment thereof or any guarantees thereof now existing or hereafter arising (the collateral in clauses (i)-(ii) of this Section 5.01 being, collectively, the “Collateral”). For the avoidance of doubt, the proceeds from any liquidation or distribution in connection with a Portfolio Company that are not held in a Collateral Account, are not Collateral.

Liens and Security Interest. To secure performance by the Borrower Parties of the payment and performance of the Obligations: (i) each Fund Borrower shall grant to Administrative Agent, for the benefit of each Lender an exclusive, perfected, first priority security interest (subject to Permitted Liens) and Lien in and to the Collateral Accounts pursuant to an Assignment of Account for the Collateral Accounts; and (ii) each Fund Borrower shall grant to Administrative Agent, for the benefit of each Lender, a an exclusive, perfected, first priority security interest (subject to Permitted Liens) and Lien in and on the Capital Calls, Capital Commitments, and Capital Contributions with respect to such Fund Borrower’s, including, without limitation, any rights to make Capital Calls, receive payment of Capital Commitments and enforce the payment thereof pursuant to a Security Agreement and to enforce the payment thereof or any guarantees thereof now existing or hereafter arising (the collateral in clauses (i)-(ii) of this Section 5.01 being, collectively, the “Collateral”). For the avoidance of doubt, the proceeds from any liquidation or distribution in connection with a Portfolio Company that are not held in a Collateral Account, are not Collateral.

Liens and Security Interest. To secure performance by the Borrower Parties of the payment and performance of the Obligations: (i) each Fund Borrower shall grant to Administrative Agent, for the benefit of each Lender an exclusive, perfected, first priority security interest (subject to Permitted Liens) and Lien in and to the Collateral Accounts pursuant to an Assignment of Account for the Collateral Accounts; and (ii) each Fund Borrower shall grant to Administrative Agent, for the benefit of each Lender, a an exclusive, perfected, first priority security interest (subject to Permitted Liens) and Lien in and on the Capital Calls, Capital Commitments, and Capital Contributions with respect to such Fund Borrower’s, including, without limitation, any rights to make Capital Calls, receive payment of Capital Commitments and enforce the payment thereof pursuant to a Security Agreement and to enforce the payment thereof or any guarantees thereof now existing or hereafter arising (the collateral in clauses (i)-(ii) of this Section 5.01 being, collectively, the “Collateral”). For the avoidance of doubt, the proceeds from any liquidation or distribution in connection with a Portfolio Company that are not held in a Collateral Account, are not Collateral.