Common use of MORTGAGE, ASSIGNMENT AND COVENANT TO PAY Clause in Contracts

MORTGAGE, ASSIGNMENT AND COVENANT TO PAY. Section 2.1 The Owner hereby grants a security interest in and mortgage on and pledges and assigns absolutely to and in favor of the Collateral Agent, its successors and permitted assigns, for the benefit of the Secured Parties, all its right, title and interest present and future in and to the Mortgaged Property, in each case whether now owned or hereafter acquired and whether now existing or hereafter coming into existence, for the duration of the Security Period.