Common use of Additional Pledged Collateral Clause in Contracts

Additional Pledged Collateral. Without notice or consent of the Pledgor and without impairment of the security interests and rights created by this Pledge Agreement, the Collateral Agent may accept from any Person or Persons additional collateral or other security for the Obligations of any Pledged Subsidiary or the Pledgor's Obligations under the Indenture. Neither the creation of the security interests created hereunder nor the acceptance of any such additional collateral or security shall prevent the Collateral Agent from resorting to such additional collateral or security or to the Pledged Collateral, in any order, without affecting the Collateral Agent's rights hereunder.

Appears in 2 contracts

Samples: Pledge Agreement (Discovery Zone Inc), Pledge Agreement (Discovery Zone Inc)

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Additional Pledged Collateral. Without notice or consent of the Pledgor Pledgors and without impairment of the security interests and rights created by this Subsidiary Pledge Agreement, the Collateral Agent may accept from any Person or Persons additional collateral or other security for the Obligations of any Pledged Subsidiary the Company or the Pledgor's Obligations Pledgors' under the IndentureIndenture or the Notes. Neither the creation of the security interests created hereunder nor the acceptance of any such additional collateral or security shall prevent the Collateral Agent from resorting to such additional collateral or security or to the Pledged Collateral, in any order, without affecting the Collateral Agent's rights hereunder.

Appears in 2 contracts

Samples: Subsidiary Pledge Agreement (Discovery Zone Inc), Subsidiary Pledge Agreement (Discovery Zone Inc)

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