UCC Matters. The undersigned confirms, agrees and acknowledges that (i) the Pledgors own all of the issued and outstanding limited liability company interests of the undersigned, (ii) notwithstanding any provisions in the Operating Agreement, each Pledgor is hereby authorized and permitted to pledge, assign and grant a security interest in the Pledged Collateral in favor of Administrative Agent pursuant to the Pledge Agreement, and (iii) this Agreement and Acknowledgment is intended to, and shall, provide Administrative Agent with “control” over the Pledged Collateral within the meaning of Articles 8 and 9 of the UCC.
Appears in 3 contracts
Samples: Intercreditor Agreement (Armstrong Coal Company, Inc.), Security Agreement (Armstrong Resource Partners, L.P.), Security Agreement (Armstrong Energy, Inc.)
UCC Matters. The undersigned confirms, agrees and acknowledges that (i) the Pledgors own all of the issued and outstanding limited liability company interests shares of the undersigned, (ii) notwithstanding any provisions in the Operating AgreementOrganizational Documents, each Pledgor is hereby authorized and permitted to pledge, assign and grant a security interest in the Pledged Collateral in favor of Administrative Agent pursuant to the Pledge Agreement, and (iii) this Agreement and Acknowledgment is intended to, and shall, provide Administrative Agent with “control” over the Pledged Collateral within the meaning of Articles 8 and 9 of the UCC.
Appears in 3 contracts
Samples: Intercreditor Agreement (Armstrong Coal Company, Inc.), Security Agreement (Armstrong Energy, Inc.), Security Agreement (Armstrong Resource Partners, L.P.)
