Common use of Grant of Security Interest; Rights upon Default Clause in Contracts

Grant of Security Interest; Rights upon Default. (a) Each Borrower and Operating Lessee hereby pledges, assigns and grants a security interest to Lender, as security for payment of all sums due in respect of the Loan and the performance of all other terms, conditions and covenants of this Agreement and any other Loan Document on such Borrower’s part to be paid and performed, in all of such Borrower’s and Operating Lessee’s right, title and interest in and to the Deposit Account, the Holding Account and each Reserve Account (including, without limitation, the Tax and Insurance Escrow Account), together with the deposits therein, including all interest earned thereon and Permitted Investments held therein. No Borrower or Operating Lessee shall, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in the Deposit Account, the Holding Account or any Reserve Account (including, without limitation, the Tax and Insurance Escrow Account), or permit any Lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements or any other notice or instrument as may be required under the UCC, as appropriate, except those naming Lender as the secured party, to be filed with respect thereto.

Grant of Security Interest; Rights upon Default. (a) Each Borrower and Operating Lessee hereby pledges, assigns and grants a security interest to Lender, as security for payment of all sums due in respect of the Loan and the performance of all other terms, conditions and covenants of this Agreement and any other Loan Document on such Borrower’s 's part to be paid and performed, in all of such Borrower’s and Operating Lessee’s 's right, title and interest in and to the Deposit Account, the Holding Account and Termination Payment Account, each Reserve Account (includingand the Tax, without limitation, the Tax Insurance and Insurance Ground Lease Escrow Account), together with the deposits therein, including all interest earned thereon and Permitted Investments held therein. No Borrower or Operating Lessee shallshall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in the Deposit Account, the Holding Account or Termination Payment Account, any Reserve Account (includingor the Tax, without limitation, the Tax Insurance and Insurance Ground Lease Escrow Account), or permit any Lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements or any other notice or instrument as may be required under the UCC, as appropriate, except those naming Lender as the secured party, to be filed with respect thereto.

Grant of Security Interest; Rights upon Default. (a) Each Borrower Issuer and Operating Lessee hereby pledges, assigns and grants a security interest to LenderNote Trustee, as security for payment of all sums due in respect of the Loan Notes and the performance of all other terms, conditions and covenants of this Agreement Indenture and any other Loan Transaction Document on such Borrower’s Issuer's part to be paid and performed, in all of such Borrower’s Issuer's and Operating Lessee’s 's right, title and interest in and to the Deposit Account, the Holding Account and each Reserve Account (including, without limitation, the Tax and Insurance Escrow Account), together with the deposits therein, including all interest earned thereon and Permitted Investments held therein. No Borrower Issuer or Operating Lessee shall, without obtaining the prior written consent of Lendera majority (by Outstanding Principal Amount) of the Noteholders, further pledge, assign or grant any security interest in the Deposit Account, the Holding Account or any Reserve Account (including, without limitation, the Tax and Insurance Escrow Account), or permit any Lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements or any other notice or instrument as may be required under the UCC, as appropriate, except those naming Lender Note Trustee as the secured party, to be filed with respect thereto.

Grant of Security Interest; Rights upon Default. (a) Each Borrower and Operating Lessee hereby pledges, assigns and grants a security interest to Lender, as security for payment of all sums due in respect of the Loan and the performance of all other terms, conditions and covenants of this Agreement and any other Loan Document on such Borrower’s 's part to be paid and performed, in all of such Borrower’s 's and Operating Lessee’s 's right, title and interest in and to the Deposit Account, the Holding Account and each Reserve Account (including, without limitation, the Tax and Insurance Escrow Account), together with the deposits therein, including all interest earned thereon and Permitted Investments held therein. No Borrower or Operating Lessee shall, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in the Deposit Account, the Holding Account or any Reserve Account (including, without limitation, the Tax and Insurance Escrow Account), or permit any Lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements or any other notice or instrument as may be required under the UCC, as appropriate, except those naming Lender as the secured party, to be filed with respect thereto.