Common use of Security for Guaranteed Obligations Clause in Contracts

Security for Guaranteed Obligations. The grant of a security interest in, the Collateral by each Grantor under this IP Security Agreement secures the prompt and complete payment and performance when due of all Guaranteed Obligations, whether direct or indirect, now existing or hereafter arising, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, guarantee obligations, indemnifications, contract causes of action, costs, expenses or otherwise.

Security for Guaranteed Obligations. The grant of a security interest in, in the Collateral by each the Grantor under this IP Security Agreement Supplement secures the prompt and complete payment and performance when due of all Guaranteed Obligations, whether direct or indirect, absolute or contingent, now existing or hereafter arising, absolute or contingent, and whether for principal, reimbursement obligations, interest, premiums, penalties, fees, guarantee obligations, indemnifications, contract causes of action, costs, expenses or otherwise.