LURC Pledge Sample Clauses

LURC Pledge. The LURC may encumber the whole or any part of its interest as beneficiary in favor of the Issuer as additional security for the LURC’s repayment of the loan of the proceeds of the LURC Bonds made to the LURC by the Issuer. The Issuer may re-pledge that collateral to the Indenture Trustee. In the event that the Trustee receives notification, authenticated by LURC, the Issuer, or the Indenture Trustee, that the amount due or to become due to LURC has been assigned (pledged) and that payment is to be made to the Issuer or the Indenture Trustee, consistent with the terms and any recourse conditions of the applicable pledge(s), the Trustee shall pay the Issuer or the Indenture Trustee pursuant to that notification all or a portion of the distribution owing to LURC. The Trustee hereby waives any provision of law limiting its obligation to comply with such notification to make payment to the Issuer or the Indenture Trustee or rendering such notification ineffective due to the notification to the Trustee requiring the Trust to make to the Issuer or the Indenture Trustee a payment amount less than the full amount of any distribution by the Trust to LURC. The Trustee may request the Issuer or the Indenture Trustee to seasonably furnish reasonable proof that an assignment to the Issuer or the Indenture Trustee has been made, and unless the Issuer or the Indenture Trustee complies the Trustee may pay LURC even if the Trustee has received a notification under this Section 3.02(b).
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Related to LURC Pledge

  • No Pledge This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Noteholders. Except as otherwise provided in this Agreement and the Servicing Agreement, no Non-Lead Noteholder shall have any interest in any property taken as security for the Mortgage Loan, provided, however, that if any such property or the proceeds of any sale, lease or other disposition thereof shall be received, then each Non-Lead Noteholder shall be entitled to receive its share of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

  • Equity Pledge 2.1 The Pledgors hereby agree to pledge, in accordance with the terms of this Agreement, their lawfully owned and disposable equity interests aggregately constituting 100% of the Company’s equity interests, to the Pledgee as joint and several security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness by the Pledgors and the Company.

  • The Pledge As collateral security for the timely and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of any or all of the payments due by Party C, including without limitation the consulting and services fees payable to the Pledgee under the Business Cooperation Agreement, Pledgor hereby pledges to Pledgee a first security interest in all of Pledgor’s right, title and interest, whether now owned or hereafter acquired by Pledgor, in the Equity Interest of Party C.

  • NO STRIKE PLEDGE The Union agrees that during the life of this Agreement, its agents, or its members shall not authorize, instigate, aid, or engage in any work stoppage, slowdown, sick-out, refusal to work, picketing, or strike against the District. If, during the life of this Agreement, the employees, for whatever reason engage in the aforementioned provisions, the Union shall immediately publicly order the striking employees to discontinue such action through the local media. Failure of the Union to take such action shall be subject to enforcement by the ordinary process of law.

  • Continuous Pledge Subject to Section 2.4, the Pledgor will, at all times, keep pledged to the Lender pursuant hereto all Pledged Shares and all other shares of capital stock constituting Collateral, all Dividends and Distributions with respect thereto, and all other Collateral and other securities, instruments, proceeds, and rights from time to time received by or distributable to the Pledgor in respect of any Collateral.

  • Stock Pledge Agreement The term "Stock Pledge Agreement" shall have the meaning set forth in Section 6.3(xiii).

  • Certain Pledges Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

  • Prior Assignments; Pledges Except for the sale to the Assignee, the Assignor has not assigned or pledged any Mortgage Note or the related Mortgage or any interest or participation therein.

  • Negative Pledges Each of the Company and any Restricted Subsidiary shall not agree or covenant with any Person to restrict in any way its ability to grant any Lien on its assets in favor of the Lenders, other than pursuant to any intercreditor agreement contemplated by this agreement, and except that this Section 10.10 shall not apply to:

  • What If I Pledge My Account? If you use (pledge) all or part of your Traditional IRA as security for a loan, then the portion so pledged will be treated as if distributed to you and will be taxable to you as ordinary income during the year in which you make such pledge. The 10% penalty tax on early distributions may also apply in addition to ordinary income taxes.

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