Common use of SECURITY INTEREST; SETOFF Clause in Contracts

SECURITY INTEREST; SETOFF. In order to further secure the payment of the Guaranteed Obligations, Guarantor hereby grants to Lender a security interest and right of setoff against all of Guarantor's presently owned or hereafter acquired monies, items, credits, deposits and instruments (including certificates of deposit) presently or hereafter in the possession of Lender. By maintaining any such accounts or other property at Lender, Guarantor acknowledges that Guarantor voluntarily subjects the property to Lender's rights hereunder.

SECURITY INTEREST; SETOFF. In order to further secure the payment of the Guaranteed Obligations, Guarantor hereby grants to Lender a security interest and right of setoff against all of Guarantor's presently owned or hereafter acquired monies, items, credits, deposits and instruments (including certificates of deposit) presently or hereafter in the possession of Lender. By maintaining any such accounts or other property at Lender, Guarantor acknowledges that Guarantor voluntarily subjects the property to Lender's rights hereunder.