Pledge and Grant Sample Clauses
The "Pledge and Grant" clause establishes that a party is providing a security interest or right over certain assets or property to another party, typically as collateral for a loan or obligation. In practice, this means the pledging party formally grants the lender or beneficiary the right to take possession of or enforce rights against the specified assets if certain conditions, such as default, occur. This clause is essential for securing obligations and reducing the lender's risk by ensuring there is a tangible asset backing the agreement.
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Pledge and Grant of Security Interest in ------------------------------------------------------------ Collateral. ----------
(a) On the Issuance Date, the Company and ▇▇▇▇▇▇▇ shall (i) enter into the Security Agreement, as Debtors, and (ii) for so long as the Notes are outstanding, each of the Company and ▇▇▇▇▇▇▇ shall comply in all respects with the terms of the Security Agreement, including without limitation, the obligation to, as and when required, (a) grant for the equal and ratable benefit of the Holders of the Notes a security interest in the Company's and ▇▇▇▇▇▇▇'▇ right, title and interest in and to the Collateral, (b) pledge Additional Collateral, and (c) to deliver certificates of Collateral Fair Market Value.
(b) The Company and ▇▇▇▇▇▇▇ shall do or cause to be done all such acts and things as may be necessary or proper, or as may be required by the provisions of the Security Agreement, to assure and confirm to the Trustee the security interest in the Collateral, so as to render the same available for the security and benefit of this Indenture and the Notes secured hereby, according to the intent and purposes herein expressed. Each of the Company and ▇▇▇▇▇▇▇ shall take, or shall cause to be taken, upon request of the Trustee, any and all actions reasonably required to cause the Security Agreement to create and maintain, as security for the obligations of the Company and the Subsidiary Guarantors under this Indenture and the Notes, valid and enforceable first priority liens in and on the Collateral, in favor of the Collateral Agent, superior to and prior to the rights of third Persons and subject to no other Liens other than Liens pursuant to paragraph (b) of the definition of Permitted Liens.
(c) The Collateral shall be held for the equal and ratable benefit of the Holders without preference, priority or distinction of any thereof over any other by reason of difference in time of issuance, sale or otherwise, as security for the Notes.
(d) The Company shall be obligated to pledge, or cause its Subsidiaries to pledge, Additional Collateral:
Pledge and Grant. As security for the due and punctual payment of the principal of and interest on the Obligations and the due and punctual payment of all such Obligations and other amounts due and to become due under the Loan and the performance and observance by Pledgor of all of the covenants made by Pledgor in the Loan Documents, Pledgor hereby pledges and grants to the Bank a security interest in each and all of the following (whether now existing or hereafter coming into existence):
(i) All of Pledgor's right, title and interest in and to the Escalade Note;
(ii) All of Pledgor's right, title and interest in and to all contracts, documents and agreements relating or pertaining in any way to the Escalade Note; and
(iii) All proceeds of the foregoing. All of the foregoing revenues, funds, property and assets, including the Escalade Note, pledged and encumbered pursuant to this Agreement are referred to herein, collectively, as the "Pledged Property."
Pledge and Grant. As security for the due and punctual payment of the principal of and interest on the Obligations and the due and punctual payment of all such Obligations and other amounts due and to become due under the Loan and the performance and observance by Indian-Mart▇▇ ▇▇ all of the covenants made by Indian-Mart▇▇ ▇▇ the Loan Documents, Indian-Mart▇▇ ▇▇▇eby pledges and grants to the Bank a security interest in each and all of the following (whether now existing or hereafter coming into existence):
(i) All of Indian-Mart▇▇'▇ ▇▇▇ht, title and interest in and to the Escalade Note;
(ii) All of Indian-Mart▇▇'▇ ▇▇▇ht, title and interest in and to all contracts, documents and agreements relating or pertaining in any way to the Escalade Note; and
(iii) All proceeds of the foregoing. All of the foregoing revenues, funds, property and assets, including the Escalade Note, pledged and encumbered pursuant to this Agreement are referred to herein, collectively, as the "Pledged Property."
Pledge and Grant. As security for the due and punctual payment of the principal of and interest on the Notes and the due and punctual payment of all other amounts due and to become due under the Trust Agreement and the performance and observance by the Issuer of all of the covenants made by the Issuer in the Trust Agreement, Issuer and Eligible Lender Trustee hereby pledge and grant to the Trustee a security interest in the following (whether now existing or hereafter coming into existence):
(i) All the right, title and interest IN AND TO THE PLEDGED LOANS and in the Accounts (as defined in the Trust Agreement), including, without limitation, (a) all evidences of indebtedness thereof, and (b) all principal, interest, Special Allowance Payments, Interest Subsidy Payments and payments from Guarantors, whether payable from Guarantors or the Department of Education of the federal government, due and to become due thereon or in respect thereof;
(ii) All the rights, title and interest in and to all contracts, documents and agreements relating or pertaining in any way to the Pledged Loans, including, but not limited to, the Basic Documents (as defined in the Trust Agreement).
(iii) All proceeds of the foregoing. All of the foregoing revenues, funds, property and assets of Issuer and Eligible Lender Trustee pledged and encumbered pursuant to this Pledge Agreement are referred to herein, collectively, as the TRUST ESTATE. By taking the foregoing action, the Eligible Lender Trustee is pledging only its interest in the Trust Estate and is not acquiring any liability under the Trust Agreement beyond its interest in the Trust Estate.
Pledge and Grant. To secure Obligations, THE PLEDGOR HEREBY: (i) grants to the Pledgee a security interest in and to all of Pledgor's right, title and interest in, to and under the Physical Securities, the Brokerage Accounts and all other Collateral (as such terms are hereinafter defined), whether now owned or hereafter acquired by the Pledgor; (ii) pledges and deposits as security with the Pledgee all of the Pledgor's Physical Securities and delivers to the Pledgee the certificates evidencing same, accompanied by stock power(s) duly executed in blank by the Pledgor covering the same; (iii) with respect to the Pledgor's Brokerage Account(s), executes and delivers to the Pledgee, for countersignature and delivery to the financial intermediary maintaining the same, a Brokerage Account Control Instruction letter in the form of Exhibit A (each, a "Control Instruction"); and (iv) otherwise assigns, transfers, hypothecates, mortgages, charges and sets over to the Pledgee all of the Pledgor's right, title and interest in and to all Collateral, whether now owned or hereafter acquired by the Pledgor, to be held by the Pledgee upon the terms and conditions set forth in this Agreement.
Pledge and Grant. Except as limited by Section 2.2 hereof, each Guarantor hereby pledges and grants to Lender, as collateral security for the prompt and complete payment and performance when due of all of Guarantors’ obligations under this Guaranty (the “Obligations”), a first-priority security interest in all of such Guarantor’s right, title, and interest in and to the following (the “Collateral”), whether now owned or hereafter acquired (capitalized terms used but not defined in this Section 2.1 shall have the meaning assigned to them in the Uniform Commercial Code as in effect in the State of Delaware (the “UCC”)):
(a) all Accounts;
(b) all Equipment (including motor vehicles used primarily for commercial purposes), Goods, Inventory and Fixtures;
(c) all Documents, Instruments and Chattel Paper;
(d) all Letter-of-Credit Rights (whether or not the letter of credit is evidenced by a writing);
(e) all membership, partnership or other equity interests of any entity other than a corporation, whether certificated or uncertificated (collectively, “Pledged Interests”), together with all rights, privileges, authority and powers of Guarantor relating to such interests or under any organizational document of each issuer of such interests, and the certificates, instruments and agreements representing such membership, partnership or other interests and any and all interest of Guarantor in the entries on the books of any financial intermediary pertaining to such interests;
(f) all issued and outstanding shares of capital stock of any corporation, whether certificated or uncertificated (collectively, the “Pledged Shares” and, together with the Pledged Interests, the “Securities Collateral”), together with all rights, privileges, authority and powers of Guarantor relating to such shares or under any organizational document of each issuer of such shares, and the certificates, instruments and agreements representing such shares of capital stock and any and all interest of Guarantor in the entries on the books of any financial intermediary pertaining to such shares;
(g) all Investment Property;
(h) all General Intangibles;
(i) all Deposit Accounts;
(j) all Supporting Obligations;
(k) all books and records pertaining to the Collateral;
(l) all Proceeds and products of each of the foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing, and any and all Proceeds of any insurance, indemnity, warranty or guaranty payable to ...