Collateral and Pledged Collateral Clause Samples
The 'Collateral and Pledged Collateral' clause defines the assets or property that a borrower provides to a lender as security for a loan or other financial obligation. This clause typically outlines what qualifies as collateral, how it must be maintained, and the conditions under which the lender can take possession of it if the borrower defaults. For example, it may specify that certain accounts, securities, or physical assets are pledged and must remain unencumbered. The core function of this clause is to protect the lender by ensuring there are specific, enforceable assets available to satisfy the debt if the borrower fails to meet their obligations.
Collateral and Pledged Collateral. For the avoidance of doubt, the term Collateral does not include any Excluded Property or Excluded Securities.
Collateral and Pledged Collateral. It is understood that this definition shall not include the assets of any Subsidiary that is not a Loan Party (including any Foreign Subsidiary).
Collateral and Pledged Collateral. For the avoidance of doubt, the term Collateral does not include any Excluded Assets. “Collateral Agent” has the meaning assigned to such term in the introductory paragraph of this Agreement. “Copyright” means the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright whether published or unpublished, copyright registrations and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to sue for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing. “Credit Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement. 2
Collateral and Pledged Collateral. Notwithstanding anything to the contrary in this Agreement or any other Notes Indenture Document, the term Collateral does not include any Excluded Property or Excluded Securities.