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.
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.
Pledge of Interest. 5.1.4.1 As collateral for the performance by Xxxx of its obligations under this Agreement, at the Initial Closing Xxxx shall execute a Pledge and Security Agreement in the form of Exhibit L attached hereto, wherein Xxxx grants WPHC a first lien security interest in Xxxx'x Interest in the Company and in Xxxx'x 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. 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 ss.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 11.3.3, no Partner shall be permitted to pledge or otherwise grant a security interest in and to its Interest.
Pledge of Interest. (a) Either Member (a "Member Debtor") may, provided same is permitted under the terms of any then existing loan documents binding upon the LLC or any Property Owner, Pledge all (but not part) of its Interest to an Approved Pledgee to secure a debt or obligation of such Member Debtor or of an Affiliate of such Member Debtor, to such Approved Pledgee, pursuant to an agreement which is expressly subject to the provisions of this Section 9.09; and such pledged Interest may be transferred by foreclosure, assignment in lieu thereof or other enforcement of such a pledge; provided and upon the condition that (i) the Person (the "Purchaser", who may be the Approved Pledgee) 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, (ii) the Purchaser, for its acquisition of a pledged Interest to be effective, shall comply with the provisions of Section 9.07 and 9.08 but not 9.04 and (iii) in the case of Reckson's pledged Interest which is being foreclosed upon, assigned in lieu thereof or otherwise transferred in enforcement of such Pledge if the Purchaser is a Non-Approved Entity, then TIAA LLC may upon foreclosure or transfer to the Purchaser (A) immediately exercise the Modified Buy-Sell Rights and (B) the provisions of Section 7.02(c) shall apply. Subject to the immediately preceding sentence, the Members hereby consent to any transfer resulting from the foreclosure of a Pledge permitted under this Section 9.09, or an assignment in lieu thereof, or other such enforcement of such a Pledge, the withdrawal of a Member Debtor if its entire Interest was so transferred, and the admission of the Purchaser as a substitute Member, as the case may be, with all of the rights of the Member Debtor hereunder including, without limitation, its rights with respect to management and distributions. No such pledge, foreclosure or other enforcement shall require the Approved Pledgee or its Affiliate to assume the obligations of a Member Debtor hereunder unless and until such Approved Pledgee or its Affiliate acquires the pledged Interest of such Member Debtor.
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. 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.
Pledge of Interest. As collateral security for the performance by Adelphia of its obligation under section 1.2 of this agreement, upon execution of this agreement Century is granting to Seller a security interest in its 50% interest in Buyer, pursuant to a Security and Pledge Agreement in the form of exhibit 2.4.
