Common use of PLEDGE AGENT Clause in Contracts

PLEDGE AGENT. Borrower and Lender hereby confirm the appointment of Boston Mortgage Capital Corp as Pledge Agent for the purposes heretofore and hereinafter set forth including the specific purposes of (i) receiving and holding the "Pledged Funds" (as hereinafter defined) for the benefit of Lender, (ii) perfecting Lender's security interest in the Pledged