Pledge Provisions Sample Clauses
Pledge Provisions are contractual terms that establish the conditions under which a party offers specific assets as collateral to secure an obligation, such as a loan or performance of duties. These provisions typically outline the types of assets being pledged, the rights and responsibilities of both the pledgor and the pledgee, and the circumstances under which the pledged assets may be seized or released. For example, a borrower might pledge shares or equipment to a lender, who can claim these assets if the borrower defaults. The core function of Pledge Provisions is to provide security for the fulfillment of obligations, thereby reducing the lender's risk and encouraging the extension of credit or performance.
Pledge Provisions. The Mezzanine Loan documents for each Mezzanine Loan contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against the pledged equity interests of the principal benefits of the security intended to be provided thereby, including realization by UCC foreclosure subject to the limitations set forth in the Standard Qualifications.
Pledge Provisions. To the extent the Mortgage Loan Documents for the related Eligible Asset contain notice, cure and other provisions in favor of a pledgee of the Eligible Asset under a repurchase or warehouse facility, the applicable Borrower shall provide evidence to the Administrative Agent that the applicable Borrower has given notice to the applicable Persons of the Administrative Agent’s interest in such Eligible Asset and otherwise satisfied any other applicable requirements under such pledgee provisions so that the Administrative Agent is entitled to receive the benefits and exercise the rights of a pledgee under the terms of such pledgee provisions contained in the related Mortgage Loan Documents.
Pledge Provisions. (A) The Pledgor assents to all terms and agreements heretofore or hereafter made by the Borrowers, any of their subsidiaries or any guarantor of the Borrowers with CoBank;
(B) The Pledgor consents to the following and agrees that its liability will not be affected or impaired by (i) the exchange, release or surrender of any collateral to the Borrowers or any other person, including any guarantor, pledgor or grantor, or the waiver, release or subordination of any security interest, in whole or in part; (ii) the waiver or delay in the exercise of any of CoBank's rights or remedies against the Borrowers or any other person, including any guarantor; (iii) the release of the Borrowers or any other person, including any person guaranteeing any portion of the Secured Obligations; (iv) the renewal, extension or modification of the terms of any of the Secured Obligations or any instrument or agreement evidencing the same;
(C) The Pledgor waives acceptance hereof, notice of acceptance hereof, and notice of acceleration of and intention to accelerate the Secured Obligations, and waives presentment, demand, protest, notice of dishonor, notice of default, notice of nonpayment or protest in relation to any instrument evidencing any of the Secured Obligations, and any other demands and notices required by law except as such waiver may be expressly prohibited by law;
(D) The liability of the Pledgor under this Pledge Agreement shall be absolute, unconditional, direct, complete and immediate and shall not be contingent upon the pursuit of any remedies against the Borrowers or any guarantor or person, nor against any security or lien available to CoBank, its successors, successors-in-title, endorsees or assigns. The Pledgor waives any right to require that an action be brought against the Borrowers or any other person or to require that resort be had to any security. In the event of a default under the Loan Documents, or any of them, CoBank shall have the right to enforce its rights, powers and remedies under any of the Loan Documents, in any order, and all rights, powers and remedies available to CoBank in such event shall be nonexclusive and cumulative of all other rights, powers and remedies provided thereunder or hereunder or by law or in equity. Accordingly, the Pledgor hereby authorizes and empowers CoBank upon acceleration of the maturity of the Note or any other Secured Obligation, at its sole discretion, and without notice to the Pledgor, to exercise any right or r...
Pledge Provisions. The following provisions apply to any Collateral consisting of debt or equity interests, including, without limitation, stock or other investment property (collectively, "Pledged Collateral"):
(a) Any certificates or instruments representing or evidencing the Pledged Collateral shall be delivered to and held by or on behalf of the Bank pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignments in blank, all in form and substance satisfactory to the Bank. The Bank shall have the right, at any time in the Bank's discretion and without notice to the Borrower, to transfer to or to register in the name of the Bank or any of the Bank's nominees any or all of the Pledged Collateral, and to place any or all of the Pledged Collateral, whether or not certificated, in any securities account in the name of the Bank as sole entitlement holder thereof, in each case subject only to the revocable rights specified in subsection (b) below.
(b) So long as no Event of Default exists, the Borrower shall be entitled to exercise any and all voting, managerial and other consensual rights pertaining to the Pledged Collateral or any part thereof for any purpose not inconsistent with the terms of this Agreement, the Credit Agreement or any of the other Loan Documents.
(c) So long as an Event of Default exists, all rights of the Borrower to exercise the voting, managerial and other consensual rights which the Borrower would otherwise be entitled to exercise pursuant to subsection (b) above shall cease, and all such rights shall become and be vested in the Bank who shall have the sole right to exercise such voting and other consensual rights.
(d) The Borrower agrees that it will pledge and deliver hereunder, immediately upon its acquisition (directly or indirectly) thereof, any and all additional debt or equity interests of the issuer of any of the Pledged Collateral. All such additional debt or equity interests shall constitute Pledged Collateral hereunder and shall secure the Obligations.
(e) The Bank shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in the Bank's possession if the Pledged Collateral is accorded treatment substantially equal to that which the Bank accords the Bank's own property, it being understood that the Bank shall not have any responsibility for (i) ascertaining or taking action with respect to calls, conversions...
Pledge Provisions. The following provisions shall apply to all ----------------- shares of capital stock (of all classes), whether now owned or hereafter acquired, of all Guarantors and all New Subsidiaries (the "PLEDGED STOCK"), all Student Notes now or hereafter owned by Borrower or any Guarantor (the "PLEDGED NOTES"), any and all other Instruments, Chattel Paper and Documents now or hereafter owned by Borrower or a Guarantor ("OTHER PLEDGED PAPER"), and any and all other property, now or hereafter owned by Borrower or any Guarantor, which is now or at any time hereafter in the possession of Bank ("OTHER PLEDGED PROPERTY"); provided, however, that (i) nothing in this Section shall be deemed to limit the application or effect of any of the provisions of any other Article hereof or any other provision of this Agreement, it being intended that the provisions of this Section be cumulative with all other provisions of this Agreement, (ii) the terms "COLLATERAL" and "OTHER PLEDGED PAPER" shall not include any Student Notes transferred to CenCor, Inc., a Delaware corporation ("CENCOR") pursuant to the terms hereof, and (iii) the term "OTHER PLEDGED PROPERTY" shall not include certificates of deposit pledged by the Borrower to ▇▇▇▇ ▇▇▇▇▇ Bank as of the date of this Agreement:
Pledge Provisions. The Purchased Asset Documents for such Mezzanine Loan contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against the related Equity Interests of the principal benefits of the security Ex. V-41 BUSINESS.31481134.1132540646.2 intended to be provided thereby, including realization by UCC foreclosure, in each case, subject to the limitations set forth in the Insolvency Qualifications.