Payment and Pledge of Pledged Annual Service Charge Sample Clauses

Payment and Pledge of Pledged Annual Service Charge. A. The Entity hereby acknowledges that, pursuant to the Indenture, the Township has pledged and assigned, and granted a security interest in, all of its right, title and interest in each installment of the Pledged Annual Service Charge and Redeveloper Payments, and its rights to receive the same, net of the County Share, to the Trustee to secure payment of the Redevelopment Bonds, including the other components of the Debt Service Charge. This pledge constitutes an absolute, unconditional assignment of the Township’s right, title and interest in and to the Pledged Annual Service Charge and Redeveloper Payments. The Township hereby represents, warrants and covenants that it has not, prior to the date hereof, and shall not, subsequent to the date hereof, pledge, assign and otherwise transfer its rights to the Pledged Annual Service Charge and Redeveloper Payments to any person other than the Trustee.
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Related to Payment and Pledge of Pledged Annual Service Charge

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  • Definitions For purposes of this Agreement:

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