Security for Agreement Obligations Clause Samples
Security for Agreement Obligations. Each of FHH and FHI have previously delivered to Guarantors a security agreement dated September 15, 2006 (the "FHH SECURITY AGREEMENT" and the "FHI SECURITY AGREEMENT," respectively), pursuant to which Borrower has granted to the Guarantors a perfected security interest in all Borrower's tangible and intangible property and assets, which security interest shall be prior to all others EXCEPT those of Lender and any others, if any, approved by the Guarantors. Each of FHH and FHI acknowledge that by virtue of this amendment and restatement of the Original Agreement, this Agreement shall be the "Credit Enhancement Agreement" referred to in the first paragraph of the FHH Security Agreement and FHI Security Agreement with the effect, among other things, that the collateral secures (among other things) the obligations of Borrower under the Credit Enhancement Documents as defined in this Agreement.
Security for Agreement Obligations. On or before the Closing, FHH and FHI shall each deliver to the Guarantors a security agreement in the form and substance of the forms attached hereto as Exhibit B (the “FHH Security Agreement”) and Exhibit C (the “FHI Security Agreement”), pursuant to which Borrower shall grant to the Guarantors a perfected security interest in all Borrower’s tangible and intangible property and assets, which security interest shall be prior to all others except those of Lender and any others, if any, approved by the Guarantors.