Common use of Pledge; Grant of Security Interests Clause in Contracts

Pledge; Grant of Security Interests. (a) Each Pledgor hereby confirms ----------------------------------- and reaffirms its mortgage, pledge and assignment of the Collateral to the Collateral Agent, for the benefit of the Senior Secured Parties, and its grant to the Collateral Agent, for the benefit of the Senior Secured Parties, of a security interest in the Collateral, in each case as collateral security on a first priority basis for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Senior Secured Obligations.

Pledge; Grant of Security Interests. (a) Each Pledgor hereby confirms ----------------------------------- mortgages, pledges and reaffirms its mortgage, pledge and assignment of assigns the Collateral to the Collateral Agent, for the benefit of the Senior Secured Parties, and its grant grants to the Collateral Agent, for the benefit of the Senior Secured Parties, of a security interest in the Collateral, in each case as collateral security on a first priority basis for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Senior Secured Obligations.