Common use of Pledge and Security Agreement Clause in Contracts

Pledge and Security Agreement. 3.01 The Developer hereby grants to the District, its successors, and assigns, a security interest in the Funds pursuant to Chapter 62A.9A RCW, including RCW 62A.9A-312, 313, and 314, and as such statutes may be amended and revised, which Funds will be delivered to the District and placed in the District’s possession and control. The Developer further grants to the District a security interest in all proceeds of the Funds, whether in the form of profits, dividends, accrued interest or otherwise. 3.02 For the purposes of the security interest granted herein, Bank shall be the agent of the District for possession of the Funds such that possession of the Funds by Bank shall be deemed to be possession and control of the Funds by the District. 3.03 The Developer warrants that, except as provided for herein, the Developer has full title to the Funds and the Funds are free and clear of any other security interest, encumbrance, or claim of right, title, or ownership. The Developer shall not create or permit the existence of any lien or security interest other than that hereby created in the Funds without the express written consent of the District nor shall the Developer assign any interest in the Funds to any other person or entity without the District’s written consent, such consent to be in the District’s sole discretion. 3.04 The Developer agrees to repay to the District all sums which the District may expend or incur in conserving or protecting the Funds, or in enforcing its security interest herein, including without limitation such sums as may be charged by Bank or any governmental entity with respect to the Funds. The sums agreed to be paid herein shall be secured by this Agreement. 3.05 The District shall have the right to enforce and collect on its security interest in the Funds in accordance with the terms and provisions contained in this Agreement. Enforcement and collection of the District’s security interest in the Funds shall be in addition to all other rights and remedies placed by law, equity or contract to the District to seek reimbursement of additional damages incurred and/or to enforce the provisions of the Extension Agreement and this Agreement, should the Funds be insufficient to discharge Developer’s obligations to the District.

Pledge and Security Agreement. 3.01 The Developer hereby grants to the District, its successors, successors and assigns, a security interest in the Funds pursuant to Chapter 62A.9A RCW, including RCW 62A.9A-312, 313, and 314, and as such statutes may be amended and revised, which Funds will be delivered to the District and placed in the District’s possession and control. The Developer further grants to the District a security interest in all proceeds of the Funds, whether in the form of profits, dividends, accrued interest interest, or otherwise. 3.02 For the purposes of the security interest granted herein, Bank shall be the agent of the District for possession of the Funds such that possession of the Funds by Bank shall be deemed to be possession and control of the Funds by the District. 3.03 The Developer warrants that, except as provided for herein, the Developer has full title to the Funds and the Funds are free and clear of any other security interest, encumbrance, or claim of right, title, or ownership. The Developer shall not create or permit the existence of any lien or security interest other than that hereby created in the Funds without the express written consent of the District nor shall the Developer assign any interest in the Funds to any other person or entity without the District’s written consent, such consent to be in the District’s sole discretion. 3.04 The Developer agrees to repay to the District all sums including, but not limited to, legal fees and costs which the District may expend or incur in conserving or protecting the Funds, or in enforcing its security interest herein, including without limitation such sums as may be charged by Bank or any governmental entity with respect to the Funds. The sums agreed to be paid herein shall be secured by this Agreement. 3.05 The District shall have the right to enforce and collect on its security interest in the Funds in accordance with the terms and provisions contained in this Agreement. Enforcement and collection of the District’s security interest in the Funds shall be in addition to all other rights and remedies placed by law, equity equity, or contract to the District to seek reimbursement of additional damages incurred and/or to enforce the provisions of the Extension Agreement and this Agreement, should the Funds be insufficient to discharge the Developer’s obligations to the District.

Pledge and Security Agreement. 3.01 3.1 The Developer hereby grants to the District, its successors, successors and assigns, a security interest in the Funds pursuant to Chapter 62A.9A RCW, including RCW 62A.9A-312, 313, and 314, and as such statutes may be amended and revisedFunds, which Funds will be delivered to the District and placed in the District’s 's possession and control. The Developer further grants to the District a security interest in all proceeds of the Funds, whether in the form of profits, dividends, accrued interest interest, or otherwise. The funds and proceeds therefrom shall secure all other of the Developer's obligations under the Extension Agreement, together with all addenda thereto, including this addendum. 3.02 3.2 For the purposes of the security interest granted herein, the Bank shall be the agent of the District for possession of the Funds such that possession of the Funds by Bank shall be deemed to be possession and control of the Funds by the District. 3.03 3.3 The Developer warrants that, except as provided for herein, the Developer has full title to the Funds and the Funds are free and clear of any other security interest, encumbrance, or claim of right, title, or ownership. The Developer shall will not create or permit the existence of any lien or security interest interest, other than that hereby created in the Funds Funds, without the express written consent of the District District, nor shall the Developer assign any interest in the Funds to any other person or entity without the District’s said written consent, such consent to be in the District’s sole discretion. 3.04 3.4 The Developer agrees to repay to the District all sums which the District may reasonably expend or incur in conserving or protecting the Funds, or in enforcing its security interest herein, including without limitation such sums as may be charged by the Bank or any governmental entity with respect to the Funds. The sums agreed to be paid herein shall be secured by this Agreement. 3.05 3.5 The District shall have the right to enforce and collect on its security interest in the Funds in accordance with the terms and provisions contained in this Agreement. Enforcement and collection of the District’s 's security interest in the Funds shall be in addition to all other rights and remedies placed granted by law, equity equity, or contract to the District to seek see reimbursement of additional damages incurred and/or to enforce the provisions provision of the Extension Agreement and this Agreement, should the Funds be insufficient to discharge the Developer’s 's obligations to the District.

Pledge and Security Agreement. 3.01 The 3.1 Developer hereby grants to the District, its successors, successors and assigns, a security interest in the Funds pursuant to Chapter 62A.9A RCW, including RCW 62A.9A-312, 313, and 314, and as such statutes may be amended and revisedFunds, which Funds will be delivered to the District and placed place in the District’s 's possession and control. The Developer further grants to the District a security interest in all proceeds of the Funds, whether in the form of profits, dividends, accrued interest interest, or otherwise. 3.02 3.2 For the purposes of the security interest granted herein, the Bank shall be the agent of the District for possession of the Funds such that possession of the Funds by the Bank shall be deemed to be possession and control of the Funds by the District. 3.03 3.3 The Developer warrants that, except as provided for herein, the Developer has full title to the Funds and the Funds are free and clear of any other security interest, encumbrance, or claim of right, title, or ownership. "The Developer shall will not create or permit the existence of any lien or security interest other than that hereby created in the Funds without the express written consent of the District nor shall the Developer assign any interest in the Funds to any other person or entity without the District’s said written consent, such consent to be in the District’s sole discretion. 3.04 3.4 The Developer agrees to repay to the District all sums which the District may expend or incur in conserving or protecting the Funds, or in enforcing its security interest herein, including without limitation such sums as may be charged by Bank or any governmental entity with respect to the Funds. The sums agreed to be paid herein shall be secured by this Agreement. 3.05 3.5 The District shall have the right to enforce and collect on its security interest in the Funds in accordance with the terms and provisions contained in this Agreement. Enforcement and collection of the District’s 's security interest in the Funds shall be in addition to all other rights and remedies placed granted by law, equity equity, or contract to the District to seek reimbursement of additional damages incurred and/or to enforce the provisions of the Extension Agreement and this Agreement, should the Funds be insufficient to discharge the Developer’s 's obligations to the District.

Pledge and Security Agreement. 3.01 The Developer hereby grants to the District, its successors, successors and assigns, a security interest in the Funds pursuant to Chapter 62A.9A RCW, including RCW 62A.9A-312, 313, and 314, and as such statutes may be amended and revised, which Funds will be delivered to the District and placed in the District’s possession and control. The Developer further grants to the District a security interest in all proceeds of the Funds, whether in the form of profits, dividends, accrued interest interest, or otherwise. 3.02 For the purposes of the security interest granted herein, Bank shall be the agent of the District for possession of the Funds such that possession of the Funds by Bank shall be deemed to be possession and control of the Funds by the District. 3.03 The Developer warrants that, except as provided for herein, the Developer has full title to the Funds and the Funds are free and clear of any other security interest, encumbrance, or claim of right, title, or ownership. The Developer shall not create or permit the existence of any lien or security interest other than that hereby created in the Funds without the express written consent of the District nor shall the Developer assign any interest in the Funds to any other person or entity without the District’s written consent, such consent to be in the District’s sole discretion. 3.04 The Developer Xxxxxxxxx agrees to repay to the District all sums including, but not limited to, legal fees and costs which the District may expend or incur in conserving or protecting the Funds, or in enforcing its security interest herein, including without limitation such sums as may be charged by Bank or any governmental entity with respect to the Funds. The sums agreed to be paid herein shall be secured by this Agreement. 3.05 The District shall have the right to enforce and collect on its security interest in the Funds in accordance with the terms and provisions contained in this Agreement. Enforcement and collection of the District’s security interest in the Funds shall be in addition to all other rights and remedies placed by law, equity equity, or contract to the District to seek reimbursement of additional damages incurred and/or to enforce the provisions of the Extension Agreement and this Agreement, should the Funds be insufficient to discharge the Developer’s obligations to the District.

Pledge and Security Agreement. 3.01 The Developer hereby grants to the District, its successors, successors and assigns, a security interest in the Funds pursuant to Chapter 62A.9A RCW, including RCW 62A.9A-312, 313, 313 and 314, and as such statutes may be amended and revised, which Funds will be delivered to the District and placed in the District’s 's possession and control. The Developer further grants to the District a security interest in all proceeds of the Funds, whether in the form of profits, dividends, accrued interest or otherwise. 3.02 For the purposes of the security interest granted herein, Bank shall be the agent of the District for possession of the Funds such that possession of the Funds by Bank shall be deemed to be possession and control of the Funds by the District. 3.03 The Developer warrants that, except as provided for herein, the Developer has full title to the Funds and the Funds are free and clear of any other security interest, encumbrance, or claim of right, title, title or ownership. The Developer shall not create or permit the existence of any lien or security interest other than that hereby created in the Funds without the express written consent of the District nor shall the Developer assign any interest in the Funds to any other person or entity without the District’s written consent, such consent to be in the District’s sole discretion. 3.04 The Developer Xxxxxxxxx agrees to repay to the District all sums including, but not limited to, legal fees and costs which the District may expend or incur in conserving or protecting the Funds, or in enforcing its security interest herein, including without limitation such sums as may be charged by Bank or any governmental entity with respect to the Funds. The sums agreed to be paid herein shall be secured by this Agreement. 3.05 The District shall have the right to enforce and collect on its security interest in the Funds in accordance with the terms and provisions contained in this Agreement. Enforcement and collection of the District’s 's security interest in the Funds shall be in addition to all other rights and remedies placed by law, equity or contract to the District to seek reimbursement of additional damages incurred and/or to enforce the provisions of the Extension Agreement and this Agreement, should the Funds be insufficient to discharge the Developer’s 's obligations to the District.