Common use of Pledgor’s Authority Clause in Contracts

Pledgor’s Authority. There are no restrictions in any Organization Document governing any Pledged Collateral or any other document related thereto which would limit or restrict (i) the grant of a Lien pursuant to this Pledge Agreement on such Pledged Collateral, (ii) the perfection of such Lien or (iii) the exercise of remedies in respect of such perfected Lien in the Pledged Collateral as contemplated by this Pledge Agreement. Except for (A) the filing or recording of UCC financing statements, (B) obtaining control to perfect the Liens created by this Pledge Agreement (to the extent required under Section 3 hereof), (C) such actions as may be required by Laws affecting the offering and sale of securities, (D) such actions as may be required by applicable foreign Laws affecting the pledge of the Pledged Collateral of Foreign Subsidiaries, (E) with respect to clause (z) below, any actions as may be required by applicable law and (F) consents, authorizations, filings or other actions which have been obtained or made, no consent or authorization of, filing with, or other act by or in respect of, any arbitrator or Governmental Authority and no consent of any other Person (including, without limitation, any stockholder, member or creditor of such Pledgor), is required for (x) the grant by such Pledgor of the security interest in the Pledged Collateral granted hereby or for the execution, delivery or performance of this Pledge Agreement by such Pledgor, (y) the perfection of such security interest (to the extent such security interest can be perfected by filing under the UCC or the granting of control (to the extent required under Section 3 hereof) or (z) the exercise by the Administrative Agent or the Secured Parties of the rights and remedies provided for in this Pledge Agreement.