Pledge LLC definition

Pledge LLC means Allied Asset Holdings LLC, a Delaware limited liability company.

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Pledge LLC means one or more Wholly-Owned Consolidated Subsidiaries, each of which (a) has title to personal or real property which would constitute Collateral but for limitations in the documents which govern such personal or real property which restrict the grant of a Lien in respect thereof, (b) has no Debt outstanding other than (i) Debt owing to Borrower which has been evidenced by a promissory note and the holder thereof has pledged the same to the Collateral Agent pursuant to the Collateral Documents, and (ii) Debt arising under the Subsidiary Guaranty executed by Pledge LLC, and (c) has had all of its Voting Stock and Debt owing to Borrower pledged to the Collateral Agent as Collateral.

Pledge LLC means one or more Wholly-Owned Consolidated Subsidiaries, each of which (i) has title to personal property which would constitute Collateral but for limitations in the documents which govern such personal property, or has title to real property (ii) has no Debt outstanding other than (x) Debt owing to the Company, and (y) Guaranties of the Senior Secured Obligations, and (iii) has had all of its Voting Stock and Debt owing to the Company pledged to the Collateral Agent as Collateral.

Examples of Pledge LLC in a sentence

With respect to each Custodial Account held by a Pledge LLC, the Borrower shall promptly deliver, or cause to be promptly delivered, to Collateral Agent upon receipt thereof by such Pledge LLC, the monthly statement prepared by the Custodian with respect to such Custodial Account.
Notwithstanding the foregoing, in no event shall any Pledge LLC have outstanding Debt other than (x) pursuant to the Subsidiary Guaranty executed by such Pledge LLC in favor of the Collateral Agent for the benefit of the Secured Parties and (y) unsecured Debt owing to Borrower; it being understood that any such Debt and/or evidence of such Debt shall only be held by Borrower and pledged to the Collateral Agent and may not be transferred, assigned, sold or otherwise conveyed to any other party.
Without limiting the obligation of Borrower set forth above, to the extent any personal property of Borrower or a Subsidiary Grantor cannot be pledged as Collateral on account of contractual limitations applicable to such property but may be transferred to a Pledge LLC, such personal property shall be transferred to a Pledge LLC.
Without limiting the obligations of any Grantor set forth in this Section 3.17, to the extent that any personal property of any Grantor cannot be pledged as Collateral on account of contractual limitations applicable to such property but may be transferred to a Pledge LLC, such personal property has been transferred to a Pledge LLC, other than the personal property listed on Schedule 3.
Notwithstanding the foregoing, in no event shall any Pledge LLC have outstanding Debt other than (x) Guaranties executed by such Pledge LLC in favor of the Collateral Agent for the benefit of the Secured Parties and (y) unsecured Debt owing to the Company; it being understood that any such Debt and/or evidence of such Debt shall only be held by the Company and pledged to the Collateral Agent and may not be transferred, assigned, sold or otherwise conveyed to any other party.
Without limiting the obligations of Grantor set forth above or in Section 4.19, to the extent that any asset of a Grantor cannot be pledged as Collateral on account of contractual limitations applicable to such property, then such asset shall be an Excluded Asset and promptly conveyed to a Pledge LLC (in accordance with Section 4.19.2), if such conveyance is permitted by the governing documents.
Without limiting the obligation of the Company set forth above, to the extent any personal property of the Company or a Consolidated Subsidiary cannot be pledged as Collateral on account of contractual limitations applicable to such property but may be transferred to the Pledge LLC, such personal property shall be transferred to the Pledge LLC.
As of the Agreement Date, A.C. Corporation and Pledge LLC are the only Material Subsidiaries.
Without limiting the obligations of Grantor set forth above or in Section 14.19, to the extent that any asset of a Grantor cannot be pledged as Collateral on account of contractual limitations applicable to such property, then such asset shall be an Excluded Asset and promptly conveyed to a Pledge LLC (in accordance with Section 4.19.2), if such conveyance is permitted by the governing documents.
All membership interests in such Pledge LLC have been pledged to Collateral Agent, creating a perfected, and to each Grantor’s Knowledge, first priority, Lien and Security Interest therein, subject to Permitted Liens.

More Definitions of Pledge LLC

Pledge LLC means one or more Wholly Owned Consolidated Subsidiaries, each of which (i) has title to personal property which would constitute Collateral but for limitations in the documents which govern such personal property, or has title to real property, (ii) has no Debt outstanding other than (x) Debt owing to Borrower, which has been evidenced by a promissory note and the holder thereof has pledged the same to the Collateral Agent pursuant to the Collateral Documents, and (y) Guaranties of the Senior Secured Obligations, and (iii) has had all of its voting stock pledged to the Collateral Agent as Collateral.