Common use of Security Interest in Property Clause in Contracts

Security Interest in Property. In order to increase the Borrowing Base through inclusion of leasehold improvements, Borrower and The Wornick Company Right Away Division, L.P. shall have granted to Lender a first and superior lien upon, and a first and superior security interest in, the interest of Borrower and The Wornick Company Right Away Division, L.P., respectively, under the Leases, for the Property, the granting of such liens to be subject to consent by the landlord, and a first and superior lien against or a first and superior security interest in any other real property now leased, or hereafter leased or acquired, by Borrower or any Subsidiary to the extent permitted under the applicable lease. On each anniversary date of this Agreement, Borrower and the Subsidiaries will provide Lender a listing of all real property leases in existence as of the date of the report, and if requested by Lender, copies of such leases. Each of Borrower and, to the extent applicable, each Subsidiary agrees to notify Lender of Borrower’s and each Subsidiary’s entry into leases on real property simultaneously with the entry of such leases by Borrower or its Subsidiaries, and to execute and deliver to Lender, upon request by Lender, , a Leasehold Deed of Trust on such other real property. Unless otherwise agreed, the form of the instrument granting such lien or mortgage shall be in substantially the same form as the Leasehold Deed of Trust on the Property conformed to the applicable jurisidiction if the other real property is located in a state other than the State of Texas or the State of Ohio.

Security Interest in Property. In order This Agreement is intended to increase constitute a security agreement within the Borrowing Base through inclusion meaning of leasehold improvementsthe UCC. As security for (a) Borrower's payment to Lender of Loan Payments and all other amounts payable to Lender hereunder, (b) Borrower's payment to Lender of Loan Payments (as defined in the Tax-Exempt Loan Agreement) and all other amounts due under the Tax-Exempt Loan Agreement, and (c) any other obligations of Borrower to Lender or any GE Capital Entity (whether direct or indirect and whether now existing or hereafter acquired), Borrower and The Wornick Company Right Away Division, L.P. shall have granted hereby grants to Lender a first and superior lien upon, and security interest constituting a first and superior security interest in, the interest of Borrower and The Wornick Company Right Away Division, L.P., respectively, under the Leases, for lien on (i) the Property, (ii) all general intangibles and other property relating thereto, (iii) all accessories, attachments, parts, equipment and repairs now or hereafter attached or affixed or used in connection with any of the granting foregoing property, (iv) all warehouse receipts, bills of such liens to be lading and other documents of title now or hereafter covering any of the foregoing property, (v) all securities, funds, moneys, deposits and other property at any time held in or subject to consent by the landlordEscrow Fund, (vi) all accessions thereto, (vii) all substitutions for any of the foregoing property, and a first (viii) products and superior lien against proceeds of any of the foregoing property. To the extent that the same entity (or a first an affiliate thereof) is Lender under this Agreement and superior any other document or agreement with Borrower, the security interest in the Property shall secure all of Borrower's obligations under all such agreements, but shall not secure Borrower's obligations under such agreements under which a different entity is Lender. Borrower ratifies its previous authorization for Lender to pre-file UCC financing statements and any amendments thereto describing the Property and all other collateral described above and containing any other real property now leasedinformation required by the applicable UCC. Borrower authorizes Lender, or hereafter leased or acquiredand hereby grants Lender a power of attorney (which is coupled with an interest), to file financing statements and amendments thereto describing the Property and containing any other information required by Borrower or any Subsidiary the applicable UCC and all proper terminations of the filings of other secured parties with respect to the extent permitted under the applicable lease. On each anniversary date of this AgreementProperty, Borrower in such form and the Subsidiaries will provide Lender a listing of all real property leases in existence substance as of the date of the report, and if requested by Lender, copies of such leasesin its sole discretion, may determine. Each of Borrower and, to the extent applicable, each Subsidiary agrees to notify Lender of Borrower’s execute such additional documents, including demands for terminations, assignments, affidavits, notices and each Subsidiary’s entry into leases on real property simultaneously with the entry of such leases by Borrower or its Subsidiariessimilar instruments, and to execute and deliver in form satisfactory to Lender, upon request by Lender, , a Leasehold Deed of Trust on and take such other real propertyactions that Lender deems necessary or appropriate to establish and maintain the security interest created by this Section, and Borrower hereby designates and appoints Lender as its agent, and grants to Lender a power of attorney (which is coupled with an interest), to execute on behalf of Borrower, such additional documents and to take such other actions. Unless otherwise agreedBorrower hereby waives any right that Borrower may have to file with the applicable filing officer any financing statement, the form of the instrument granting such lien amendment, termination or mortgage shall be in substantially the same form as the Leasehold Deed of Trust on other record pertaining to the Property conformed to the applicable jurisidiction if the other real property is located in a state other than the State of Texas or the State of Ohioand/or Lender's interest therein.

Security Interest in Property. In order This Agreement is intended to increase constitute a security agreement within the Borrowing Base through inclusion meaning of leasehold improvementsthe UCC. As security for (a) Borrower's payment to Lender, as assignee of Issuer, of Loan Payments and all other amounts payable to Lender hereunder, (b) Borrower's payment to Lender of Loan Payments (as defined in the Taxable Loan Agreement) and all other amounts due under the Taxable Loan Agreement, and (c) any other obligations of Borrower to Lender or any GE Capital Entity (whether direct or indirect and whether now existing or hereafter acquired), Borrower hereby grants to Issuer, and The Wornick Company Right Away DivisionIssuer hereby assigns to Lender, L.P. a security interest constituting a first lien on (i) the Property, (ii) all general intangibles and other property relating thereto, (iii) all accessories, attachments, parts, equipment and repairs now or hereafter attached or affixed or used in connection with any of the foregoing property, (iv) all warehouse receipts, bills of lading and other documents of title now or hereafter covering any of the foregoing property, (v) all securities, funds, moneys, deposits and other property at any time held in or subject to the Escrow Fund, (vi) all accessions thereto, (vii) all substitutions for any of the foregoing property, and (viii) products and proceeds of any of the foregoing property. To the extent that the same entity (or an affiliate thereof) is Lender under this Agreement and any other document or agreement with Borrower, the security interest in the Property shall have granted secure all of Borrower's obligations under all such agreements, but shall not secure Borrower's obligations under such agreements under which a different entity is Lender. Borrower ratifies its previous authorization for Lender to pre-file UCC financing statements and any amendments thereto describing the Property and all other collateral described above and containing any other information required by the applicable UCC. Borrower authorizes Lender, and hereby grants Lender a power of attorney (which is coupled with an interest), to file financing statements and amendments thereto describing the Property and containing any other information required by the applicable UCC and all proper terminations of the filings of other secured parties with respect to the Property, in such form and substance as Lender, in its sole discretion, may determine. Issuer and Borrower agree to execute such additional documents, including demands for terminations, assignments, affidavits, notices and similar instruments, in form satisfactory to Lender, and take such other actions that Lender deems necessary or appropriate to establish and maintain the security interest created by this Section, and Issuer and Borrower hereby designate and appoint Lender as their agent, and grant to Lender a first power of attorney (which is coupled with an interest), to execute on behalf of Issuer and superior lien uponBorrower, as the case may be, such additional documents and a first and superior security interest into take such other actions. Borrower hereby waives any right that Borrower may have to file with the applicable filing officer any financing statement, the interest of Borrower and The Wornick Company Right Away Divisionamendment, L.P., respectively, under the Leases, for the Property, the granting of such liens to be subject to consent by the landlord, and a first and superior lien against termination or a first and superior security interest in any other real property now leased, or hereafter leased or acquired, by Borrower or any Subsidiary record pertaining to the extent permitted under the applicable lease. On each anniversary date of this Agreement, Borrower and the Subsidiaries will provide Lender a listing of all real property leases in existence as of the date of the report, and if requested by Property and/or Lender, copies of such leases. Each of Borrower and, to the extent applicable, each Subsidiary agrees to notify Lender of Borrower’s and each Subsidiary’s entry into leases on real property simultaneously with the entry of such leases by Borrower or its Subsidiaries, and to execute and deliver to Lender, upon request by Lender, , a Leasehold Deed of Trust on such other real property. Unless otherwise agreed, the form of the instrument granting such lien or mortgage shall be in substantially the same form as the Leasehold Deed of Trust on the Property conformed to the applicable jurisidiction if the other real property is located in a state other than the State of Texas or the State of Ohio's interest therein.