Common use of Security Interest and Pledge Clause in Contracts

Security Interest and Pledge. As security for the prompt and complete payment of any and all obligations of the Company under this Agreement and the Lender Note, or under any other agreement or note, now existing or hereafter rising, whether for principal, interest, expenses or otherwise, the Company hereby grants, transfers and assigns and pledges to Lender all of its respective right, title and interest in and grants Lender a senior security interest in the Company's assets as set forth in Schedule 3.1 attached hereto (the "PLEDGED ASSETS") now in existence, together with after-acquired property."

Security Interest and Pledge. As security for the prompt and complete payment satisfaction of any and all obligations of the Company under this Agreement and the Lender Note, or under any other agreement or note, now existing or hereafter risingarising, whether for principal, interest, expenses or otherwise, the Company hereby grants, transfers and assigns and pledges to Lender all of its respective right, title and interest in and grants Lender a senior security interest in the Company's assets as set forth in Schedule 3.1 attached hereto (the "PLEDGED ASSETS") now in existence, together with after-acquired property."