Common use of Pledge of Accounts Clause in Contracts

Pledge of Accounts. To secure the full and punctual payment and performance of all of the Indebtedness, Borrower hereby assigns, conveys, pledges and transfers to Lender and grants to Lender a first and continuing lien on and security interest in and to all of Borrower’s right, title and interest in (i) the Tax and Insurance Escrows; (ii) all funds from time to time deposited or held in any of the foregoing, all investments made with respect thereto and all interest, if any, earned thereon; (iii) all other amounts required under the Loan Documents to be deposited with and/or held by Lender, including but not limited to insurance proceeds and proceeds payable to Borrower pursuant to a Taking; and (iv) to the extent not covered by the clauses (i) –(iii) above, all products and proceeds of any or all of the foregoing (collectively, the “Account Collateral”). Borrower agrees that the Account Collateral shall not constitute any deposit or account of the Borrower or moneys to which the Borrower is entitled upon demand, or upon the mere passage of time or sums to which Borrower is entitled to any interest or crediting of interest by virtue of Lender’s mere possession of such deposits. Lender shall not be required to segregate any Account Collateral and may hold such deposits in its general account or any other account and may commingle such deposits with any other moneys of Lender or moneys which Lender is holding on behalf of any other person or entity.

Pledge of Accounts. To secure the full and punctual payment and performance of all of the Indebtedness, Borrower hereby assigns, conveys, pledges and transfers to Lender and grants to Lender a first and continuing lien on and security interest in and to all of Borrower’s right, title title, and interest in (i) the Tax and Insurance Escrows; (ii) all funds from time to time deposited or held in any of the foregoingaccount with Lender, all investments made with respect thereto and all interest, if any, earned thereon; (iiiii) all other amounts required under the Loan Documents to be deposited with and/or held by Lender, including but not limited to insurance proceeds and proceeds payable to Borrower pursuant to a Taking; and (iviii) to the extent not covered by the clauses (i) –and (iiiii) above, all products and proceeds of any or all of the foregoing (collectively, the “Account Collateral”). Borrower agrees that the Account Collateral shall not constitute any deposit or account of the Borrower or moneys to which the Borrower is entitled upon demand, or upon the mere passage of time or sums to which Borrower is entitled to any interest or crediting of interest by virtue of Lender’s mere possession of such deposits. Lender shall not be required to segregate any Account Collateral and may hold such deposits in its general account or any other account and may commingle such deposits with any other moneys of Lender or moneys which that Lender is holding on behalf of any other person or entity.

Pledge of Accounts. To secure the full and punctual payment and performance of all of the Indebtedness, Borrower hereby assigns, conveys, pledges and transfers to Lender and grants to Lender a first and continuing lien on and security interest in and to all of Borrower’s right, title and interest in (i) the Tax and Insurance Escrows; (ii) all funds from time to time deposited or held in any of the foregoing, all investments made with respect thereto and all interest, if any, earned thereon; (iii) all other amounts required under the Loan Documents to be deposited with and/or held by Lender, including but not limited to insurance proceeds and proceeds payable to Borrower pursuant to a Taking; and (iv) to the extent not covered by the clauses (i) –(iiii)–(iii) above, all products and proceeds of any or all of the foregoing (collectively, the “Account Collateral”). Borrower agrees that the Account Collateral shall not constitute any deposit or account of the Borrower or moneys to which the Borrower is entitled upon demand, or upon the mere passage of time or sums to which Borrower is entitled to any interest or crediting of interest by virtue of Lender’s mere possession of such deposits. Lender shall not be required to segregate any Account Collateral and may hold such deposits in its general account or any other account and may commingle such deposits with any other moneys of Lender or moneys which Lender is holding on behalf of any other person or entity.

Pledge of Accounts. To secure the full and punctual payment and performance of all of the Indebtedness, Borrower hereby assigns, conveys, pledges and transfers to Lender and grants to Lender a first and continuing lien on and security interest in and to all of Borrower’s right, title and interest in (i) the Tax and Insurance Escrows; (ii) the Property Reserves, if any; (iii) all funds from time to time deposited or held in any of the foregoing, all investments made with respect thereto and all interest, if any, earned thereon; (iiiiv) all other amounts required under the Loan Documents to be deposited with and/or held by Lender, including but not limited to insurance proceeds and proceeds payable to Borrower pursuant to a Taking; and (ivv) to the extent not covered by the clauses (i) –(iii) aboveforegoing clauses, all products and proceeds of any or all of the foregoing (collectively, the “Account Collateral”). Borrower agrees that the Account Collateral shall not constitute any deposit or account of the Borrower or moneys to which the Borrower is entitled upon demand, or upon the mere passage of time time, or sums to which Borrower is entitled to any interest or crediting of interest by virtue of Lender’s mere possession of such deposits. Lender shall not be required to segregate any Account Collateral and may hold such deposits in its general account or any other account and may commingle such deposits with any other moneys of Lender or moneys which Lender is holding on behalf of any other person or entity.