Common use of Pledged Securities; Promissory Notes Clause in Contracts

Pledged Securities; Promissory Notes. As of the Closing Date, Schedule 2 correctly sets forth (a) all duly authorized, issued and outstanding Capital Stock of each Guarantor and each other Person that is beneficially owned by each Grantor and (b) all Notes held by each Grantor, in each case on the Closing Date. No Pledged Security issued by a limited liability company or a limited partnership is a “Security” within the meaning of Article 8 of the UCC, unless such Pledged Security is evidenced by a certificate.

Pledged Securities; Promissory Notes. As of the Closing Date, Schedule 2 correctly sets forth (a) all duly authorized, issued and outstanding Capital Stock of each Guarantor and each other Person that is beneficially owned by each Grantor and (b) all Notes held by each Grantor, in each case on as of the Closing Date. No As of the Closing Date, no Pledged Security issued by a limited liability company or a limited partnership is a “Security” within the meaning of Article 8 of the UCC, unless such Pledged Security is evidenced by a certificate.