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Collateral Agreement
Collateral Agreement contract clause examples

The New Borrower hereby joins and agrees to be bound by each and all of the provisions of that certain Collateral Agreement, dated as of August 8, 2018 executed by the Existing Borrowers and joined by the Guarantors in favor of the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Collateral Agreement”) as a Grantor thereunder with the same force and effect as if originally named therein as a Grantor. In furtherance (and without limitation) of the foregoing, pursuant to Section 2.1 of the Collateral Agreement, and as security for all of the Secured Obligations, the New Borrower hereby pledges, assigns and delivers to the Administrative Agent, for the benefit of itself and the other Secured Parties, and grants to the Administrative Agent, for the benefit of itself and the other Secured Parties, a Lien upon and security interest in, all of its right, title and interest in and to the Collateral as set forth in Section 2.1 of the Collateral Agreement, all on the terms and subject to the conditions set forth in the Collateral Agreement. Each reference to a “Grantor” in the Collateral Agreement hereafter shall be deemed to include the New Borrower.

Section # Borrower’s Grant of Security Interest. Borrower hereby reconfirms its grant of a Lien for the benefit of the Secured Parties in the “Borrower Collateral” under, and as defined in, the Existing Receivables Funding Agreement, and confirms that such Lien has been granted to secure the Borrower Obligations, which include the “Borrower Obligations” under, and as defined in, the Existing Receivables Funding Agreement. Furthermore, to secure the prompt and complete payment, performance and observance of all Borrower Obligations, and to induce the Administrative Agent and the Lenders to enter into this Agreement and perform the obligations required to be performed by them hereunder in accordance with the terms and conditions hereof, the Borrower hereby grants, assigns, conveys, pledges, hypothecates and transfers to the Administrative Agent, for the benefit of the Secured Parties a Lien upon and security interest in all of the Borrower’s right, title and interest in, to and under, but none of its obligations arising from, the following property, whether now owned by or owing to, or hereafter acquired by or

In accordance with [Section 24] of the Security Agreement, each New Guarantor and each New Borrower, by its signature below, becomes a “Grantor” under the Security Agreement with the same force and effect as if originally named therein as a “Grantor” and each New Guarantor and each New Borrower hereby # agrees to all of the terms and provisions of the Security Agreement applicable to it as a “Grantor” thereunder and # represents and warrants that the representations and warranties made by it as a “Grantor” thereunder are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that are already qualified or modified by materiality in the text thereof) on and as of the date hereof (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date). In furtherance of the foregoing, each New Guarantor and each New Borrower hereby unconditionally grants and pledges to the Administrative Agent, for the benefit of the Lender Group and the Bank Product Providers, to secure the Obligations, a continuing security interest in and to all of such New Borrower’s and New Guarantor’s right, title and interest in and to the Collateral. Each reference to a “Grantor” in the Security Agreement shall be deemed to include each New Guarantor and each New Borrower. The Security Agreement is incorporated herein by reference.

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