Subsequent Pledge Clause Samples
POPULAR SAMPLE Copied 4 times
Subsequent Pledge. 14 Section 7.05 Amendment........................................................................14 Section 7.06 Waivers..........................................................................14 Section 7.07 Notices..........................................................................14 Section 7.08 [Reserved].......................................................................15 Section 7.09 Representations..................................................................15
Subsequent Pledge. The Depositor acknowledges that (i) the Issuer will grant the Receivables and related Deposited Assets along with the Issuer’s rights and benefits under this Agreement to the Indenture Trustee pursuant to the terms of the Indenture and (ii) the terms and provisions hereof are intended to benefit the Noteholders. The Depositor hereby consents to such grant. The parties hereto hereby acknowledge that the representations and warranties contained in this Agreement and the rights of the Issuer under this Agreement are intended to benefit the Indenture Trustee on behalf of the Noteholders, the Agent and the Financial Institutions. The Depositor acknowledges that the Indenture Trustee on behalf of the Noteholders, the Agent and the Financial Institutions, as assignees of the Issuer’s rights hereunder may directly enforce, without making any prior demand on the Issuer, all the rights of the Issuer hereunder, including, without limitation, the rights under Section 3.03(a) hereof.
Subsequent Pledge. The Seller acknowledges that (i) the Owner Trustee will Grant the Receivables and the other Trust Property along with the Owner Trustee's rights and benefits under this Contribution Agreement and under the Transfer and Assignment Agreement to the Indenture Trustee pursuant to the terms of the Indenture and (ii) the terms and provisions hereof are intended to benefit the Noteholders and the Note Insurer. The Seller hereby consents to such Grant.
Subsequent Pledge. The Seller acknowledges that (i) the Owner Trustee will Grant the Receivables and the other Trust Property along with the Owner Trustee's rights and benefits under this Contribution Agreement and under the Transfer and Assignment Agreement to the Indenture Trustee pursuant to the terms of the Indenture and (ii) the terms and provisions hereof are intended to benefit the Noteholders, the Swap Counterparty (unless the Interest Rate Swap Agreement has been terminated and all amounts owed to the Swap Counterparty has been paid in full) and the Note Insurer. The Seller hereby consents to such Grant.
Subsequent Pledge. The Servicer acknowledges that (a) the Borrowers will grant all of the Borrowers' rights and benefits under this Agreement to the Agent pursuant to the terms of the Security Agreement and (b) the terms and provisions hereof are intended to benefit the Lenders. The Servicer hereby consents to such grant. The parties hereto hereby acknowledge that the representations and warranties contained in this Agreement and the rights of the Borrowers under this Agreement are intended to benefit the Agent on behalf of the Lenders. The Servicer acknowledges that the Agent on behalf of the Lenders, as assignees of the Borrowers’ rights hereunder may, upon the occurrence and during the continuation of an Event of Default, directly enforce, without making any prior demand on the Borrowers, all the rights of the Borrowers hereunder.
Subsequent Pledge. 14 2003-A Contribution Agreement