ARTICLE S SECURITY As security for the due and punctual payment of all of the Obligations, the Borrower shall, as of the Closing Date, deliver or cause to be delivered to and in favour of the Lender, in form and substance satisfactory to the Lender and its counsel: 5 .1.1 guarantees from Cliffs Amalco and 227 4659 whereby they guarantee the Obligations owing by the Borrower in favour of the Lender; 5.1.2 frrst ranking (subj ect only to Pern1itted Encun1brances) general security agreements from the Borrower, Cliffs Amalco and 227 4659 charging all of their respective Property; 5 . 1 .3 a first ranking securities pledge agreement fi�om the Borrower in respect of all present and future Equity · Interests held by the Bon�ower in Cliffs An1alco, 2274659, D ebut Diamonds and I<.WG;