Common use of INITIAL PLEDGED DEBT Clause in Contracts

INITIAL PLEDGED DEBT. Annex 2 (Part A) sets forth a complete and correct list of all Pledged Debt held by any Securing Party on the date hereof. The Pledged Debt has been duly and validly authorized and issued by the issuers thereof and are legal, valid and binding obligations of the issuers thereof, except to the extent that enforceability of such obligations may be limited by applicable bankruptcy, insolvency, and other similar laws affecting creditor’s rights generally; provided that the foregoing representations, insofar as they relate to the Pledged Debt Securities issued by a Person other than a Securing Party, are made to the knowledge of the Securing Party.