Common use of Pledge of Interest Clause in Contracts

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 Feld of its obligations under xxxx this Agreement, at the xx xhe Initial Closing Feld shall execute a Pledge and Xxxurity Agreement in Security Agreemexx xn the form of Exhibit L attached hereto, wherein Feld grants WPHC a first lien xxxxrity interest in security interesx xn Feld's Interest in the Company xxx xn and in Feld's right to rixxx xx receive all feexfees, xxyments payments and distributions xxxxxibutions 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 Feld of its obligations under xxxx this Agreement, at the Initial Closing Feld Closinx Xxld shall execute a Pledge and Xxxurity Security Agreement in the form of Exhibit Exxxxit L attached hereto, wherein Feld grants WPHC a first lien xxxxrity security interest in Feld's Interest xx xhe Company and in the Company xxx xn Feld's right to receive all feexfxxx, xxyments xayments and distributions from the Companytxx Xxxpany. 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.