Common use of Liens and Security Interest Clause in Contracts

Liens and Security Interest. (a) Capital Commitments; Capital Calls and Other Rights. To secure performance by the Investor REIT of the Investor REIT Obligations, and in accordance with the 38 40 Articles of Incorporation, the Investor REIT's other Constituent Documents, the Subscription Agreements, and the Investor Letters: (i) pursuant to the Pledge and Security Agreement, the Investor REIT shall grant to the Agent, for the benefit of the Secured Parties, an exclusive, perfected first priority security interest in all of the Collateral described therein, including the Capital Commitments and any rights to call for and receive payment of Capital Commitments as contemplated by the Subscription Agreements or the Articles of Incorporation and to enforce the payment thereof or any guarantees thereof now existing or hereafter arising; (ii) pursuant to the Cash Collateral Agreement, the Investor REIT shall grant to the Agent, for the benefit of the Secured Parties, an exclusive, perfected first priority security interest in the Subscription Account and all of the proceeds thereof as more fully described in the Cash Collateral Agreement; and (iii) pursuant to the Pledge Agreement, the Investor REIT shall grant to the Agent, for the benefit of the Secured Parties, an exclusive, perfected first priority security interest in the Collateral described therein, including all of the Investor REIT's interest in the Borrower now existing or hereafter arising.