Common use of Accession to Pledge Agreement; Grant of Security Interest Clause in Contracts

Accession to Pledge Agreement; Grant of Security Interest. The Additional Pledgor Subsidiary agrees that it is a “Pledgor” under the Pledge Agreement and assumes all obligations of a “Pledgor” thereunder, all as if the Additional Pledgor Subsidiary had been an original signatory to the Pledge Agreement. The Issuer agrees that it is an “Issuer” under the Pledge Agreement and assumes all obligations of an “Issuer” thereunder, all as if the Issuer had been an original signatory to the Pledge Agreement. Without limiting the generality of the foregoing, the Additional Pledgor Subsidiary hereby: (a) pledges to the Secured Party for the benefit of the Credit Parties, and grants to the Secured Party for the benefit of the Credit Parties a security interest in, all of the Additional Pledgor Subsidiary’s right, title and interest in, to and under the Collateral, including the Pledged Shares and Pledged Interests described on Schedule I attached hereto, together with all of the other Collateral described in Section 2 of the Pledge Agreement relating to the Pledged Shares and the Pledged Interests, as security for the Secured Obligations; (b) makes to the Secured Party and the other Credit Parties as of the date hereof each of the representations and warranties contained in Section 6 of the Pledge Agreement and agrees to be bound by each of the covenants contained in the Pledge Agreement, including without limitation, those contained in Section 7 thereof; and (c) consents and agrees to each other provision set forth in the Pledge Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Ashford Hospitality Prime, Inc.), Credit Agreement (Ashford Hospitality Prime, Inc.)

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Accession to Pledge Agreement; Grant of Security Interest. The Additional Pledgor Subsidiary agrees that it is a “Pledgor” under the Pledge Agreement and assumes all obligations of a “Pledgor” thereunder, all as if the Additional Pledgor Subsidiary had been an original signatory to the Pledge Agreement. The Issuer agrees that it is an “Issuer” under the Pledge Agreement and assumes all obligations of an “Issuer” thereunder, all as if the Issuer had been an original signatory to the Pledge Agreement. Without limiting the generality of the foregoing, the Additional Pledgor Subsidiary hereby: (a) pledges to the Secured Party for the benefit of the Credit PartiesLenders, and grants to the Secured Party for the benefit of the Credit Parties Lenders a security interest in, all of the Additional Pledgor Subsidiary’s right, title and interest in, to and under the Collateral, including the Pledged Shares and Pledged Interests described on Schedule I attached hereto, together with all of the other Collateral described in Section 2 of the Pledge Agreement relating to the Pledged Shares and the Pledged Interests, as security for the Secured Obligations; (b) makes to the Secured Party and the other Credit Parties Lenders as of the date hereof each of the representations and warranties contained in Section 6 of the Pledge Agreement and agrees to be bound by each of the covenants contained in the Pledge Agreement, including without limitation, those contained in Section 7 thereof; and (c) consents and agrees to each other provision set forth in the Pledge Agreement.

Appears in 1 contract

Samples: Credit Agreement (Sunstone Hotel Investors, Inc.)

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Accession to Pledge Agreement; Grant of Security Interest. The Additional New Pledgor Subsidiary agrees that it is a “Pledgor” under the Pledge Agreement and assumes all obligations of a “Pledgor” thereunder, all as if the Additional New Pledgor Subsidiary had been an original signatory to the Pledge Agreement. The Issuer agrees that it is an “Issuer” under the Pledge Agreement and assumes all obligations of an “Issuer” thereunder, all as if the Issuer had been an original signatory to the Pledge Agreement. Without limiting the generality of the foregoing, the Additional New Pledgor Subsidiary hereby: (a) pledges to the Secured Party Administrative Agent for the benefit of the Credit Secured Parties, and grants to the Secured Party Administrative Agent for the benefit of the Credit Secured Parties a security interest in, all of the Additional Pledgor SubsidiaryNew Pledgor’s right, title and interest in, to and under the Pledged Collateral, including the Pledged Shares and Pledged Equity Interests described on Schedule I 1 attached hereto, together with all of the other Collateral described in Section 2 of hereto which shall be appended to Schedule 1 attached to the Pledge Agreement relating to the Pledged Shares and the Pledged Interestsbecome a part thereof, as security for the Secured Obligations; (b) makes to the Secured Party Administrative Agent and the other Credit Secured Parties as of the date hereof each of the representations and warranties contained in Section 6 2 of the Pledge Agreement and agrees to be bound by each of the covenants contained in the Pledge Agreement, including without limitation, those contained in Section 7 3 thereof; and (c) consents and agrees to each other provision set forth in the Pledge Agreement.

Appears in 1 contract

Samples: Term Loan Agreement (Lexington Realty Trust)

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