Common use of Secured Obligations Secured Clause in Contracts

Secured Obligations Secured. (a) The security interest created hereby in the Collateral secures the payment and performance of all Secured Obligations. (b) Without limiting the generality of the foregoing, this Agreement secures the payment of all amounts that constitute part of the Secured Obligations and would be owed by any Credit Party to any Beneficiary under the Loan Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving a Credit Party.