Common use of Pledge of Security Assets Clause in Contracts

Pledge of Security Assets. 2.1 The Pledgor hereby irrevocably and unconditionally, on the terms and conditions set out herein, pledges to each of the Secured Parties represented by the Security Trustee in its capacity as duly authorised representative of the Secured Parties and on its own behalf all of the Pledgor's rights, title and interest in and to the Security Assets for the purpose of constituting a first priority pledge to secure the due and punctual performance of the Secured Obligations.

Pledge of Security Assets. 2.1 The As security for the due and punctual payment, discharge and performance of the Secured Liabilities the Pledgor hereby irrevocably and unconditionally, on the terms and conditions set out herein, herein pledges to each of the Secured Parties represented by the Security Trustee in its capacity as duly authorised representative of the Secured Parties and on its own behalf Trustee, absolutely all of the Pledgor's rights, title and interest in and to the Security Assets for the purpose of constituting a first priority pledge to secure the due and punctual performance of the Secured ObligationsAssets.