Nature of Security Interest. The granting of the foregoing security interest does not make Security Agent or any Secured Party a successor to Borrower as a member in any Project Company, and none of Security Agent, any Secured Party or any of their successors or assigns hereunder shall be deemed to have become a member in any Project Company by accepting this Agreement or exercising any right granted herein unless and until such time, if any, when Security Agent, any Secured Party or any such successor or assign expressly becomes a member in any Project Company after a foreclosure upon the Collateral. Notwithstanding anything herein to the contrary, none of Security Agent, the Secured Parties, or any of their successors or assigns shall be deemed to have assumed or otherwise become liable for any debts or obligations of any Project Company or of Borrower by virtue of the security interest granted hereunder (except to the extent, if any, that Security Agent, any Secured Party or any of their successors or assigns hereafter expressly becomes a member in any Project Company).
Nature of Security Interest. The pledge and grant of the Pledged Collateral pursuant to this Agreement creates a valid and perfected first priority security interest in the Pledged Collateral in favor of the Collateral Agent, acting on behalf of the Secured Parties, securing the payment of all of the Secured Obligations.
Nature of Security Interest. Upon the delivery of the Pledged Securities or, in the case of uncertificated securities included as Pledged Securities, a Control Letter signed by the issuer thereof, to Secured Party, the pledge of the Pledged Collateral pursuant to this Pledge Agreement creates a valid and perfected first priority Security Interest in the Pledged Collateral, securing the prompt and complete payment, performance and observance of the Secured Obligations.
Nature of Security Interest. The pledge, lien and security interest granted to Lender pursuant to this Agreement shall continue in full force and effect until the Obligations have been finally and indefeasibly paid to Lender in cash and performed in full, notwithstanding the termination of any other Loan Document (in whole or in part), the termination of Lender’s obligations to extend credit to Borrower under this Agreement or any other Loan Document, the full or partial termination (whether by prepayment, demand or acceleration) of any Loan, or that the Revolving Credit may from time to time be temporarily in a credit position. Any balances to the credit of Borrower in the possession of Lender, and any other Property or assets of Borrower in the possession of Lender, shall be held by Lender as Collateral, and applied in whole or partial satisfaction of the Obligations when due, subject to the terms of this Agreement.
Nature of Security Interest. 7 Section 3.4 Consents, etc.........................................7 Section 3.5 Chief Executive Office................................7
Nature of Security Interest. (i) Upon the delivery of the certificated Core Collateral held by such Pledgor to the Collateral Custodian, as applicable, endorsed to the Collateral Custodian, as applicable, or in blank, the pledge of the certificated Core Collateral pursuant to this Pledge Agreement creates a valid and perfected first priority security interest in all of the certificated Core Collateral, securing the prompt and complete payment, performance and observance of the respective Secured Obligations of such Pledgor.
(ii) When UCC financing statements or other appropriate filings, recordings or registrations containing a description of the Pledged Collateral of such Pledgor have been filed in the appropriate governmental, municipal or other office of such Pledgor’s jurisdiction of organization, which are all the filings, recordings and registrations necessary to perfect the security interest in favor of the Collateral Agent in respect of all Pledged Collateral of such Pledgor in which the security interest may be perfected by filing, recording or registration in the United States, no further or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law.
Nature of Security Interest. Upon the delivery of all certificated Pledged Securities of such Pledgor to the Administrative Agent and satisfaction of the other perfection requirements specified herein, the pledge of the Pledged Collateral of such Pledgor pursuant to this Pledge Agreement creates a valid and perfected first priority security interest in such Pledged Collateral, securing the prompt and complete payment, performance and observance of the Secured Obligations.
Nature of Security Interest. Upon the delivery of the Pledged Securities to Security Trustee, the filing of a UCC financing statement in accordance with Section 2.05 and the taking of any other perfection measures necessary or in the reasonable opinion of the Security Trustee desirable, the pledge of the Pledged Collateral pursuant to this Pledge Agreement creates a valid and perfected first priority Security Interest in the Pledged Collateral, securing the prompt and complete payment or performance, as the case may be, of the Secured Obligations.
Nature of Security Interest. Upon the delivery of the Pledged Collateral of such Pledgor to the Agent (in the case of capital stock, instruments or certificated limited liability company interests) or the filing of appropriate UCC financing statements, the pledge of the Pledged Collateral of such Pledgor pursuant to this Pledge Agreement creates a valid and perfected first priority, security interest in the Pledged Collateral of such Pledgor in favor of the Agent, securing the prompt and complete payment, performance and observance of the Secured Obligations.
Nature of Security Interest. When the Pledged Securities are delivered to the Lender (or, in the case of uncertificated Pledged Securities, when the Issuer of such Pledged Securities has marked its books and records to reflect the security interest of the Lender in such Pledged Securities and executed and delivered to the Lender an acknowledgment in the form attached hereto as Exhibit B), the Lender will obtain a valid and perfected first security interest in such Pledged Securities as security for the repayment of the Secured Obligations, prior to all other liens and encumbrances thereon and security interests therein.
