Collateral. (a). (a) All Capital Stock of the Borrower (except any Capital Stock owned by the Sponsor), all Capital Stock of each Restricted Subsidiary of the Borrower directly owned by the Borrower or any Guarantor, all Capital Stock of each GP Obligor directly owned by its general partner or managing member and all Capital Stock of such general partner or managing member directly owned by its respective general partner or managing member, in each case as of the Closing Date, shall have been pledged pursuant to the Pledge Agreement or the GP Undertaking, as applicable (except that such parties shall not be required to pledge any Excluded Capital Stock), and the Collateral Agent shall have received all certificates, if any, representing such securities pledged under the Pledge Agreement or the GP Undertaking, as applicable, accompanied by instruments of transfer and undated stock powers endorsed in blank.
Collateral. (a). Revenue Equipment As security for the Notes and all Loans and advances made pursuant to this Agreement, and any renewals, modifications, substitutions or extensions thereof, and any other Notes, Loans or advances made by the Bank to Borrower, Borrower herein grants to Bank a first lien on all of its Revenue Equipment together with all proceeds therefrom. The titles to the vehicles included within the Revenue Equipment shall be physically delivered by Borrower to the Commercial Savings Bank in Carroll, Iowa as agent for Bank, or such other party as designated by Bank, and Bank (and/or its designated agent) is herein granted a power of attorney to affix Bank's lien on all such titles and file such liens of record in the event Borrower commits an Event of Default hereunder. Bank acknowledges that Borrower will, in the ordinary course of its business, buy, sell or trade items of Revenue Equipment and thus will be allowed access to such titles. B. Bank Deposits, Bank shall at all times have a perfected first security interest in and right of setoff against any and all deposit balances of Borrower whether now existing or hereafter established, and may at any time, after an Event of Default hereunder, without notice, apply the same against payment of any obligations of Borrower to Bank, whether or not due regardless of the existence or amount of any other security held by the Bank. 5.
