Mortgage and Pledge Clause Samples
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Mortgage and Pledge. With the approval of at least two-thirds (2/3) of the Board and the consent of the Class B Members (if any), the Board shall have the power and authority to mortgage the property of the Association and to pledge the revenues of the Association as security for loans made to the Association which loans shall be used by the Association in performing its functions.
Mortgage and Pledge. This Debenture is a direct debt obligation of the Borrowers and, pursuant to the Loan Documents and Pledge Documents, is secured by the equity, assets and property of the Borrowers.
Mortgage and Pledge. After execution of this Agreement, the Mortgage and the Pledge shall continue to be in full force and effect, and shall continue to give the Lender the Liens and the rights, powers, privileges and security interests created thereunder in favor of the Lender.
Mortgage and Pledge. Each Non-Operator mortgages, pledges, affects, and hypothecates to Operator, and Operator mortgages, pledges, affects, and hypothecates to each Non-Operator, all of its respective rights, title, and interest in and to the following:
(a) the Lease and any interest therein, and all accounts, gas imbalance accounts, contract rights, inventory, and general intangibles relating thereto or arising therefrom;
(b) all property and fixtures, moveable or immovable, corporeal or incorporeal, attached to or located on or off the Contract Area, which are acquired by the Parties pursuant to the Operating Agreement and/or this Memorandum;
(c) all of the oil, gas and associated substances in, on, or under the Lease and that may be produced from the Lease and the proceeds attributable to the sale of such oil, gas and associated substances; and
(d) all property, moveable or immovable, corporeal or incorporeal, that is used, obtained or constructed (or under construction) for use, in connection with the Lease and operations thereon pursuant to the Operating Agreement and/or this Memorandum.
Mortgage and Pledge. In order to secure the full and punctual payment and performance of the Obligations, and the performance of the covenants and obligations contained herein, Mortgagor does by these presents specially mortgage, pledge, assign, hypothecate and warrant unto and in favor of Mortgagee, for itself and as collateral agent on behalf of ECT Securities Corp. and any holder of Obligations described in clause (f) of the definition of Obligations, the Realty Collateral and Immovable Collateral, together with the right to receive insurance proceeds attributable to the insurance loss of such property (as provided in LSA R.S. 9:5386).