Examples of Pledged Indebtedness in a sentence
Senior Lender shall have no duties to Subordinated Lender in connection with its possession of the Pledged Stock or the Pledged Indebtedness prior to any foreclosure of Senior Lender’s security interest in such Pledged Stock or Pledged Indebtedness, other than the duty to take reasonable care to preserve rights in such Pledged Stock or Pledged Indebtedness.
All Pledged Shares so delivered shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to Secured Party and all promissory notes or other instruments so delivered evidencing the Pledged Indebtedness shall be endorsed by Pledgor.
The undersigned further agrees that this Pledge Amendment may be attached to that certain Pledge Agreement, dated August 20, 2008, by and between the undersigned, as Pledgor, and Dalcor Inc., as Secured Party (the “Pledge Agreement”), and that the Pledged Shares and Pledged Indebtedness listed on this Pledge Amendment shall be and become a part of the Pledged Collateral referred to in said Pledge Agreement and shall secure all Secured Obligations referred to in said Pledge Agreement.
Pledgor hereby authorizes Secured Party to attach each Pledge Amendment to this Agreement and agrees that all Pledged Shares and Pledged Indebtedness listed on any Pledge Amendment delivered to Secured Party shall for all purposes hereunder be considered Pledged Collateral.
Except to the extent permitted by the Financing Documents, Pledgor will not permit any Pledged Indebtedness to be subordinated in right of payment to any other indebtedness.