Common use of Pledge and Security Interest Clause in Contracts

Pledge and Security Interest. To secure the full and punctual payment and discharge of the Obligations, the Pledgor hereby pledges the Collateral to the Pledgee and grants to the Pledgee a continuing security interest in the Collateral. Such security interest of the Pledgee is (i) junior to the first-priority security interest previously granted to the Koyah Collateral Agent and (ii) junior to the second-priority security interests previously granted to Xxxxxxx and Prudent Bear, and subject to the terms and conditions of the Intercreditor Agreement (as defined below).

Pledge and Security Interest. To secure the full and punctual payment and discharge of the Obligations, the Pledgor hereby pledges the Collateral to the Pledgee and grants to the Pledgee a continuing security interest in the Collateral. Such security interest of the Pledgee is (i) junior to the first-priority security interest previously granted to the Koyah Collateral Agent and (ii) junior to the second-priority security interests previously granted to Xxxxxxx and Prudent BearAgent, and subject to the terms and conditions of the Intercreditor Agreement (as defined below).

Pledge and Security Interest. To secure the full and punctual payment and discharge of the Obligations, the Pledgor hereby pledges the Collateral to the Pledgee and grants to the Pledgee a continuing security interest in the Collateral. Such security interest , for the ratable benefit of the Pledgee is (i) junior to the first-priority security interest previously granted to the Koyah Collateral Agent and (ii) junior to the second-priority security interests previously granted to Xxxxxxx and Prudent Bear, and subject to the terms and conditions of the Intercreditor Agreement (as defined below)Lenders.

Pledge and Security Interest. To secure the full and punctual payment and discharge of the Obligations, the Pledgor hereby pledges the Collateral to the Pledgee and grants to the Pledgee a continuing security interest in the Collateral. Such security interest of the Pledgee is (i) junior to the first-priority security interest previously granted to the Koyah Collateral Agent and Agent, (ii) junior to the second-priority security interests previously granted to Xxxxxxx Raven and Prudent BearVentures, and (iii) subject to the terms and conditions of the Intercreditor Agreement (as defined below).