Pledge of Security Interest. The Spread Account Depositor hereby assigns, sells, conveys and transfers to the Spread Account Custodian and its successors and assigns, and grants thereto a security interest in, all of its right, title and interest in and to all amounts payable to the Spread Account pursuant to Section 6.02 of the Pooling and Servicing Agreement, the Account, all amounts deposited therein or credited thereto, from time to time, and all proceeds of the foregoing, including, without limitation, all other amounts and investments held from time to time in the Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities, or otherwise) in consideration of its right to receive Excess Spread in accordance with Section 6.02 of the Pooling and Servicing Agreement (all of the foregoing, collectively, the "Account Property"), to have and to hold all the aforesaid property, rights and privileges unto the Spread Account Custodian, its successors and assigns, in trust for the benefit of the Trustee and the Certificateholders, subject to the terms and provisions, set forth in this Agreement. The Spread Account Custodian hereby acknowledges such transfer and, upon receipt, shall hold and distribute the Account Property in accordance with the terms and provisions of this Agreement.
Pledge of Security Interest. As continuing collateral security for the payment of any indebtedness which is now or which may in the future be owing by you to the Firm or its affiliates, you hereby pledge to the Firm any and all securities and cash, including any free credit balances, which may now or hereafter be held or carried in any of your Accounts (collectively, the Collateral), whether in your Account or in any other account in which you have an interest and whether or not such indebtedness relates to the Collateral pledged. So long as any indebtedness remains unpaid, you authorize the Firm, without notice, to use at any time and from time to time the Collateral in the conduct of the Firm’s business, including the right to: (a) combine any of the Collateral with property of the Firm or other clients or both; (b) pledge any of the Collateral which is held in the Firm’s possession as security for its own indebtedness; (c) loan any of the Collateral to the Firm for its own purposes; or (d) use any of the Collateral for making delivery against a sale whether such sale is for your Account or in the Account of any other of the Firm’s customers.
Pledge of Security Interest. Pledgor hereby pledges to Secured Party a security interest in, a minimum of 250,000 shares of Common Stock ("Pledged Collateral"), all of which are now owned by Pledgor in Secured Party, and all proceeds of the foregoing. The formula used to calculate the Pledged Collateral is two times the value of the loan divided by the closing price as quoted by NASDAQ ($400,000 / $1.60 = 250,000 shares). The Pledged Collateral shall be held by an outside director ("Escrow Agent") and shall have attached thereto a stock power endorsed in blank by Pledgor, or at Pledgor's election, an escrow may be established at a local bank. The cost of the escrow shall be paid by the Pledgor if Pledgor elects to use a bank as the escrow agent. Unless and until an Event of Default (as defined in Section 3 hereof) has occurred, the Pledged Collateral shall be held by the Escrow Agent in accordance with the terms of this Pledge Agreement.
Pledge of Security Interest. Each of UACSC and PSC hereby assigns, sells, conveys and transfers to the Master Trustee and its successors and assigns, on behalf of the Noteholders, the Certificateholders and MBIA, and grants thereto a security interest in, all of its right, title and interest in and to all Excess Cash and Excess Cash Flow, to have and to hold all the aforesaid property, rights and privileges unto the Master Trustee, its successors and assigns, in trust for the benefit of the Master Trustee, the Investor Certificateholders, the Noteholders under the Owner Trust Transactions, the Successor Servicer, Indenture Trustees, Owner Trustee and/or Trustee, as applicable, under each Servicing Agreement and/or Indenture, and MBIA (collectively, the "Secured Parties") and to hold the aforesaid property, rights and privileges for the benefit of the Residual Certificateholders, as their interests may appear, subject to the terms and provisions set forth in this Agreement. The Master Trustee and the Master Trust Paying Agent hereby acknowledge such transfer and, upon receipt, the Master Trust Paying Agent shall hold and distribute the Excess Cash and the Excess Cash Flow in accordance with the terms and provisions of this Agreement.
Pledge of Security Interest. Any Lender may at any time pledge or grant a security interest in all or any portion of its rights under this Agreement and the Facility Loan Documents to secure obligations of such Lender, including any such pledge or grant to a Federal Reserve Bank, and this Section shall not apply to any such pledge or grant of a security interest; provided that no such pledge or grant of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or secured party for such Lender as a party hereto; provided further, however, the right of any such pledgee or grantee (other than any Federal Reserve Bank) to further transfer all or any portion of the rights pledged or granted to it, whether by means of foreclosure or otherwise, shall be at all times subject to the terms of this Agreement and the other Facility Loan Documents.
Pledge of Security Interest. Collateral Borrower hereby pledges and grants to the Lender a first priority lien on and security interest in the Collateral, as hereinafter defined. The term Collateral means, collectively: (i) the Common Stock; and (ii) all products, proceeds and revenues of and from the Common Stock, together with all substitutions therefor and additions thereto including without limitation stock rights, rights to subscribe, liquidating dividends, stock dividends, cash dividends, interest, new securities and other property to which Borrower is or may hereafter become entitled to receive on account of such Common Stock.
Pledge of Security Interest. Simultaneous with execution of this Agreement, PHEO agrees to enter into a Security Agreement with the Center providing for the pledge and grant of security interest in all rights, title and interest in and to PHEO’s stock ownership of HED as collateral for repayment of the $500,000 Loans. This security Agreement shall be satisfied and removed once the $500,000 Loans are paid in full.
