Common use of Security Interest and Lien Clause in Contracts

Security Interest and Lien. As security for the payment and performance of all of your obligations and liabilities to any Bear Xxxxxxx entity, each Bear Xxxxxxx entity shall have a continuing security interest in all property in which you have an interest held by or through any Bear Xxxxxxx entity, including, but not limited to, securities, commodity futures contracts, commercial paper, monies, any after-acquired property and all rights you may have against any Bear Xxxxxxx entity. In addition, in order to satisfy any such outstanding liabilities or obligations, Bear Xxxxxxx may, at any time and without prior notice to you, use, apply or transfer any of such securities or property interchangeably (including cash and fully-paid securities).

Security Interest and Lien. As security for of the payment and performance of all of your obligations and liabilities to any Bear Xxxxxxx entity, each Bear Xxxxxxx entity shall have a continuing security interest in all property in which you have an interest held by or through any Bear Xxxxxxx entity, including, but not limited to, securities, commodity futures contracts, commercial paper, monies, any after-acquired property and all rights you may have against any Bear Xxxxxxx entity. In addition, in order to satisfy any such outstanding liabilities or obligations, Bear Xxxxxxx may, at any time and without prior notice to you, use, apply or transfer any of such securities or property interchangeably (including cash and fully-fully- paid securities).