Grantor Pledge Sample Clauses

Grantor Pledge. Each of the Grantors hereby pledges, assigns and grants to the Administrative Agent, on behalf of and for the ratable benefit of the Holders of Obligations and (to the extent specifically provided herein) their Affiliates, a security interest in all of such Grantor’s right, title and interest, whether now owned or hereafter acquired, in and to the Collateral to secure the prompt and complete payment and performance of the Florida Gaming Obligations, as authorized by the laws, rules and administrative regulations of the Gaming Authority. For the avoidance of doubt, the grant of a security interest herein shall not be deemed to be an assignment of intellectual property rights owned by the Grantors. Notwithstanding the foregoing, the Collateral shall not include (i) with respect to any shares of stock or other ownership interests in any First Tier Foreign Subsidiary, the excess over 65% of all of the voting shares of stock or Equity Interests in such First Tier Foreign Subsidiary, (ii) any stock or other ownership interests in any Foreign Subsidiary that is not a First Tier Foreign Subsidiary or (iii) any shares of stock or other ownership interests in Holdings pledged by Freedom pursuant to the Holdings Pledge Agreement. With respect to the Interest Reserve Account, amounts on deposit therein shall be distributed in accordance with Section 9.16 of the Credit Agreement and Section 7.4 hereof.

Grantor Pledge. Each of the Grantors hereby pledges, assigns and grants to the Administrative Agent, on behalf of and for the benefit of the Holders of Secured Obligations and (to the extent specifically provided herein) their Affiliates, a security interest in all of such Grantor’s right, title and interest, whether now owned or hereafter acquired, in and to the Collateral to secure the prompt and complete payment and performance of the Secured Obligations. For the avoidance of doubt, the grant of a security interest herein shall not be deemed to be an assignment of intellectual property rights owned by the Grantors. Notwithstanding the foregoing, the Collateral shall not include Equity Interests of any Subsidiary exceeding the Applicable Pledge Percentage with respect thereto.

Grantor Pledge. Each of the Grantors hereby pledges, assigns and grants to the Administrative Agent, for the ratable benefit of the Holders of Secured Obligations, a security interest in all of such Grantor’s right, title and interest, whether now owned or hereafter acquired, in and to the Collateral to secure the prompt and complete payment and performance of the Secured Obligations. 5