Pledged Interest. The Pledged Interest (i) will not become “financial assets” (within the meaning of Section 8-101(a)(9) of the UCC) and (ii) will not be credited to a “securities account” (within the meaning of Section 8-501(a) of the UCC). The parties agree that the Pledged Interest constitutes “general intangibles” (as defined in Section 9-102 of the UCC); and Pledgor agrees that the Pledged Interest is not and will not be investment company securities within the meaning of Section 8-103 of the UCC.
Appears in 4 contracts
Samples: Junior Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.), Senior Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.), Senior Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Pledged Interest. The Pledged Interest (i) will not become “financial assets” (within the meaning of Section 8-101(a)(9) of the UCC) and (ii) will not be credited to a “securities account” (within the meaning of Section 8-501(a) of the UCC). The parties agree that the Pledged Interest constitutes “general intangibles” (as defined in Section 9-102 of the UCC); and Pledgor agrees Pledgors agree that the Pledged Interest is not and will not be investment company securities within the meaning of Section 8-103 of the UCC.
Appears in 2 contracts
Samples: Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.), Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.)
