Pledge and Grant of Security Interests. Pledgor hereby pledges, assigns, hypothecates and transfers to Bank all Pledged Stock, together with appropriate undated assignments separate from the Certificates duly executed in blank, and hereby grants to and creates in favor of Bank liens and security interests in the Pledged Stock as collateral security for (i) the due and punctual payment when due (whether at maturity, by acceleration or otherwise) in full of all amounts due under the Term Promissory Note in the aggregate amount of Fifteen Million Dollars ($15,000,000.00) executed and delivered by Borrower to Bank pursuant to the Loan Agreement; (ii) the due and punctual performance and observance by the Obligors of their respective agreements, obligations, liabilities and duties under the Loan Documents, including, without limitation the Loan Agreement and the Guaranty; (iii) the due and punctual performance and observance by the Pledgor of all of its agreements, obligations, liabilities and duties under this Collateral Assignment Agreement; (iv) all debts, obligations or liabilities of every kind and description of any one or more of the Obligors to Bank, now due or to become due, direct or indirect, absolute or contingent, presently existing or hereafter arising, joint or several, secured or unsecured, whether for payment or performance, regardless of how the same arise or by what instrument, agreement or book account they may be evidenced, or whether evidenced by any instrument, agreement or book account, including, without limitation, all loans (including any loan by renewal or extension), all overdrafts, all guarantees and all other evidences of indebtedness, howsoever owned, held or acquired by the Bank; and (v) all costs incurred by Bank to obtain, perfect, preserve and enforce the liens and security interests granted by this Collateral Assignment Agreement, to collect the Obligations Secured Hereby (as hereinafter defined) and to maintain and preserve the Pledged Collateral, with such costs including but not limited to expenditures made by Bank for reasonable attorneys' fees and other legal expenses and expenses of collection, possession and sale of the Pledged Collateral, together with interest on all such costs at the Default Rate (the foregoing subsections (i), (ii), (iii), (iv), and (v) are collectively referred to herein as the "Obligations Secured Hereby").
Pledge and Grant of Security Interests. Pledgor hereby delivers to the Agent, for the ratable benefit of the Secured Parties, all of the Pledged Securities and hereby grants to the Agent, for the ratable benefit of the Secured Parties, a first priority security interest in the Pledged Securities, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations.
Pledge and Grant of Security Interests. Pledgor hereby -------------------------------------- pledges and assigns to Agent for the benefit of the Banks, and hereby grants to Agent for the benefit of the Banks a security interest in, all of Pledgor's right, title and interest in and to the following (the "PLEDGED COLLATERAL"):
Pledge and Grant of Security Interests. The Company hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a security interest in the Collateral, whether presently existing or owned or at any time hereafter arising or acquired by the Company or in which the Company now has or at any time in the future may acquire any right, title or interest, and any and all additions, attachments, accessories and accessions thereto, and any and all substitutions, replacements or exchanges therefor, and any and all Proceeds, Supporting Obligations and products thereof and any and all collateral security and guarantees given by any Person with respect to such Collateral, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Company’s Secured Obligations.
Pledge and Grant of Security Interests. As security for the payment or performance of (i) any and all of the Applicant's obligations and/or liabilities to the Bank under this Agreement (including the contingent obligation under paragraph 11 to pay or deliver to the Bank the maximum amount available under the Credit whether or not a drawing, claim or demand for payment has been made under the Credit) and (ii) all other obligations and/or liabilities of the Applicant to the Bank, absolute or contingent, due or to become due, or which are now or may at any time(s) hereafter be owing by the Applicant to the Bank, the Applicant hereby:
Pledge and Grant of Security Interests. Each Grantor hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a security interest in the Collateral, whether presently existing or owned or at any time hereafter arising or acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest, and any and all additions, attachments, accessories and accessions thereto, and any and all substitutions, replacements or exchanges therefor, and any and all Proceeds, Supporting Obligations and products thereof and any and all collateral security and guarantees given by any Person with respect to such Collateral, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of such Grantor’s Secured Obligations.
Pledge and Grant of Security Interests. Pledgor hereby pledges, assigns, hypothecates and transfers to Secured Party, its successors and assigns, all Pledged Stock and hereby grants to and creates in favor of Secured Party first priority liens and security interests in the Pledged Stock, as collateral security for the due and punctual payment when due (whether at maturity by acceleration or otherwise) in full of all amounts due under the Loans; the due and punctual performance and observance by Pledgor and the other Borrowers of their respective agreements, obligations, liabilities and duties under this Pledge Agreement, the Credit Agreement and all other documents executed in connection with the Loans (the "Loan Documents"); and all costs incurred by Secured Party to obtain, perfect, preserve and enforce the liens and security interests granted by this Pledge Agreement, to collect the Obligations Secured Hereby (as hereinafter defined) and to maintain and preserve the Pledged Stock, with such costs including but not limited to expenditures made by Secured Party for reasonable attorneys' fees and other legal expenses and expenses of collection, possession and sale of the Pledged Stock, together with interest on all such costs at the Default Interest Rate (as defined in the Loan Documents) (the foregoing subsections (i), (ii) and (iii) are collectively referred to herein as the "Obligations Secured Hereby").
Pledge and Grant of Security Interests. To secure the prompt payment and performance in full when due, whether by lapse of time or otherwise, of the Obligations (as defined in Section 3), Pledgor hereby pledges and assigns to Lender, and grants to Lender, a continuing security interest in any and all right, title and interest of Pledgor in and to the Bonds, whether now owned or existing or owned, acquired, or arising hereafter, including the right to vote as bondholder (collectively, the "Pledged Collateral"), as well as all proceeds and products of the foregoing, however and whenever acquired and in whatever form. Without limiting the generality of the foregoing, it is hereby specifically understood and agreed that Pledgor shall hereafter deliver additional bonds to Lender as collateral security for the Obligations (as hereinafter defined) if additional bonds are issued to Pledgor in connection with the Bonds by the Issuer. Upon delivery to Lender, such additional bonds shall be deemed to be part of the Pledged Collateral of Pledgor and shall be subject to the terms of this Pledge Agreement whether or not this Pledge Agreement is amended to refer to such additional bonds.
Pledge and Grant of Security Interests. To the extent not previously delivered, each Pledgor hereby delivers to the Administrative Agent in the State of New York, for the ratable benefit of itself and the Lenders, all of the Pledged Stock of such Pledgor and all originally executed promissory notes evidencing the Pledged Debt and hereby grants and acknowledges its previous grant to the Administrative Agent, for the ratable benefit of itself and the Lenders, a first priority security interest in such Pledged Stock, Pledged Debt, Partnership/LLC Interests and all other Collateral, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations.
Pledge and Grant of Security Interests. To the extent not previously delivered, each Pledgor hereby delivers to the Senior Administrative Agent, for the ratable benefit of the Bridge Collateral Agent and the Bridge Lenders, in the State of New York, all of the Pledged Stock of such Pledgor and all originally executed promissory notes evidencing the Pledged Debt and hereby grants to the Senior Administrative Agent, for the ratable benefit of the Bridge Collateral Agent and the Bridge Lenders, a valid and perfected security interest prior to all other Liens and rights of others therein in existence on the date hereof except for the Liens permitted under the Bridge Agreement, in such Pledged Stock, Pledged Debt, Partnership/LLC Interests and all other Collateral, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations.
