SECURITY AGREEMENT One Wall Street, New York, New York April 30, 2003 (Banking Office) FOR VALUE RECEIVED, and in order to induce THE BANK OF NEW YORK (the "Bank"), in its discretion, to make loans or otherwise extend credit at any time, and from time...Security Agreement • May 28th, 2003 • Baron Select Funds • New York
FOR VALUE RECEIVED, and in order to induce THE BANK OF NEW YORK (the "Bank"), in its discretion, to make loans or otherwise extend credit at any time, and from time to time to, or at the request of, the undersigned (the "Debtor"), whether the loans or credit so extended shall be absolute or contingent, the Debtor (jointly and severally, if more than one and whether executing the same or separate instruments) grants to the Bank, as security for all present or future obligations under the Master Promissory Note executed by the Debtor in favor of the Bank in the original principal of $40,000,000, and dated the date hereof, as amended, modified or restated from time to time, of the Debtor to it, whether due or to become due, secured or unsecured, absolute or contingent, joint and/or several, and howsoever or whensoever acquired by the Bank including interest accruing thereon before or after the commencement of any insolvency, bankruptcy or reorganization proceeding of the Debtor whether or
