Pledge of Interest. 5.1.4.1 As collateral for the performance by Feld of its obligations under xxxx Agreement, at the Initial Closing Feld shall execute a Pledge and Xxxurity Agreement in the form of Exhibit L attached hereto, wherein Feld grants WPHC a first lien xxxxrity interest in Feld's Interest in the Company xxx xn Feld's right to receive all feex, xxyments and distributions from the Company. Any uncured default under this Agreement shall constitute an Event of Default (as such term is defined in said Pledge and Security Agreement) under said Pledge and Security Agreement, and any Event of Default under said Pledge and Security Agreement shall be a default under this Agreement.
5.1.4.2 As collateral for the performance by WPHC of their obligations to make Capital Contributions as required under this Agreement, at the Initial Closing WPHC shall execute a Pledge and Security Agreement in the form of Exhibit M attached hereto, wherein it grants Feld a first lien security intexxxx in its Interest in the Company and in its right to receive all fees, payments and distributions from the Company. Any uncured default under this Agreement shall constitute an Event of Default (as such term is defined in said Pledge and Security Agreement) under said Pledge and Security Agreement, and any Event of Default under said Pledge and Security Agreement shall be a default under this Agreement.
Pledge of Interest. (A) Except as contemplated by Section 10.5.(B) and Section 11.1., no Partner shall mortgage, pledge, encumber or create or suffer to exist any pledge, lien or encumbrance upon, or security interest in ("pledge"), all or any part of its Interest (such term, as used in this Section 10.5., including any Profits Interest). Any attempt by a Partner to pledge all or a portion of its Interest in violation of this Agreement shall be void ab initio and shall not be effective to pledge such Interest.
(B) Any Affiliated Partner Group (the "pledging Partners") may pledge its Interest; provided, however, that (i) any such pledge, shall expressly be subject and fully subordinated, on terms reasonably acceptable to the other Affiliated Partner Group (the "nonpledging Partners"), to the encumbrance of the pledging Partners' Interests pursuant to this Agreement including Section 11.1. and (ii) no such pledge shall give any right to the pledgee as a Partner (as such term is used in the Act) with respect to the Partnership or the nonpledging Partners or create any duty to the pledgee on the part of the Partnership or the nonpledging Partners other than the payment to the extent pledged of distributions from the Partnership under Section 7.
(C) Prior to any pledge under Section 10.5.(B), (i) the pledging Partners shall submit to the nonpledging Partners all documentation relating to the proposed pledge for the approval of the nonpledging Partners and shall not effect such pledge without the prior written approval of the nonpledging Partners (such approval not to be unreasonably withheld);
Pledge of Interest. Notwithstanding any other provision in this Agreement, any Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury Regulation 31 CFR Section 203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law.
Pledge of Interest. Except as permitted by the provisions of Section 11.3.2, no Partner shall be permitted to pledge or otherwise grant a security interest in and to its Percentage Interest.
Pledge of Interest. Each Member may pledge its Membership Interest to secure financing from its third person financing sources; provided that such Member has provided written notice of any anticipated pledge at least 10 days prior to the making of such pledge.
Pledge of Interest. As further security for the full and timely payment of all Lender Indebtedness, Nobel shall grant to Agent for the pro rata benefit of Lenders a security interest in all stock of Houston, Nobel Management and Nobel Technologies held by Nobel. In connection therewith, Nobel shall execute and deliver to Agent all such documents as Agent may require including, without limitation, the original of all certificates evidencing such stock. The term "Collateral", as used in the Loan Agreement, shall hereafter be deemed to include, without limitation, all of the additional security described in this Amendment.
Pledge of Interest. No Partner shall have any right to pledge, encumber or otherwise create a security interest in such Partner's Interest to secure the payment of any indebtedness without the prior written approval of a majority in interest of the General Partners, and any such pledge or hypothecation shall be made pursuant to a pledge or hypothecation agreement that requires the pledgee or secured party to be bound by all the terms and conditions of this Section.
Pledge of Interest. (a) Provided such pledge is not intended to circumvent the restrictions on Transfers contained in this Agreement, each Member and any entity owning a direct or indirect interest in Member may pledge, collaterally assign (including any assignment of income or profits) or otherwise hypothecate or create or permit to exist a lien against (collectively "Pledge") its Interest or any direct or indirect ownership interests in a Member to any Person who is not an Affiliate of the applicable pledgor, in each case without any consent rights or first offer rights (or any other rights in this Agreement) on behalf of any other Member. A Pledged Interest may subsequently be transferred by foreclosure, assignment in lieu thereof or other enforcement of such Pledge; provided and upon the condition that (i) the Person (the "Purchaser") who purchases or otherwise acquires the pledged Interest does so subject to all of the terms and conditions of this Agreement as it may have been modified or amended, and (ii) the Purchaser, for its acquisition of a Pledged Interest to be effective, shall comply with the provisions of Sections 9.03 and 9.
Pledge of Interest. Nothing contained in this Agreement shall prohibit any Partner from assigning or pledging as collateral its economic interest as a Limited or General Partner in the Partnership. Any assignee or pledgee of such interest shall be bound by the terms of this Agreement and its rights in the interest shall be subject to compliance with this Agreement.
Pledge of Interest. The share or interest of any Member may be pledged, mortgaged or hypothecated in good faith without the intention to evade or avoid the provisions of this Article XII.
