Common use of Pledge and Assignment of Note and Agreement Clause in Contracts

Pledge and Assignment of Note and Agreement. In consideration of the purchase of the Note by the Corporation and the benefits to be derived by the Borrower as a result of the sale of the Note, the Borrower hereby agrees and consents to the pledge and assignment by the Corporation of the Note and this Agreement to the Trustee under and pursuant to the Indenture as security for the Debentures Outstanding and to be Outstanding thereunder.