Common use of Pledge of Interests Clause in Contracts

Pledge of Interests. (a) The Standby Purchaser hereby pledges to the Trustee (for the benefit of the Noteholders) and grants a continuing security interest in, all of its interest (if any) in (a) the Payment Account, (b) the Reserve Account, (c) each Letter of Credit issued from time to time as contemplated hereunder, (d) all funds from time to time on deposit in the Payment Account and/or the Reserve Account, (e) all Permitted Investments obtained with proceeds of the Reserve Account or the Payment Account, (f) all interest, dividends, distributions, cash, instruments and other property from time to time received, receivable or on deposit in the Reserve Account or the Payment Account, and (g) all proceeds of any of the foregoing (together, the "Collateral"). The Standby Purchaser agrees to take all such action as is necessary or as the Trustee may require, including delivering Opinions of Counsel in form and substance acceptable to the Trustee, as to the grant and perfection of the foregoing security interests. (b) The security interest granted in the Collateral, except to the extent that withdrawals from them Reserve Account are otherwise limited as set forth in Section 5.3 of the Indenture, shall secure the payment of all obligations of the Standby Purchaser now or hereafter existing under the Transaction Documents, whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise. The Standby Purchaser represents and warrants that it has not heretofor pledged conveyed, granted a lien on, or security interest in, or otherwise encumbered any of the Collateral in favor of any Person under U.S., Cayman, Brazilian or other law.

Pledge of Interests. (a) The Standby Purchaser Issuer hereby pledges to the Trustee (for the benefit of the Noteholders) and grants a continuing security interest in, all of its interest (if any) in (a) the Payment Account, (b) the Reserve Account, (c) each Letter of Credit issued from time to time as contemplated hereunder, (d) all funds from time to time on deposit in the Payment Account and/or the Reserve Account, (e) all Permitted Investments obtained with proceeds of the Reserve Account or the Payment Account, (f) all interest, dividends, distributions, cash, instruments and other property from time to time received, receivable or on deposit in the Reserve Account or the Payment Account, and (g) all proceeds of any of the foregoing (together, the "Collateral"). The Standby Purchaser Issuer agrees to take all such action as is necessary or as the Trustee may require, including delivering Opinions of Counsel in form and substance acceptable to the Trustee, as to the grant and perfection of the foregoing security interests. (b) The security interest granted in the Collateral, except to the extent that withdrawals from them Reserve Account are otherwise limited as set forth in Section 5.3 of the Indenturehereof, shall secure the payment of all obligations of the Standby Purchaser Issuer now or hereafter existing under the Transaction Documents, whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise. The Standby Purchaser Issuer represents and warrants that it has not heretofor pledged conveyed, granted a lien on, or security interest in, or otherwise encumbered any of the Collateral in favor of any Person under U.S., Cayman, Brazilian or other law.

Pledge of Interests. (a) The Standby Purchaser hereby ------------------- pledges to the Trustee (for the benefit of the Noteholders) and grants a continuing security interest in, all of its interest (if any) in (a) the Payment Account, (b) the Reserve Account, (c) each Letter of Credit issued from time to time as contemplated hereunder, (d) all funds from time to time on deposit in the Payment Account and/or the Reserve Account, (e) all Permitted Investments obtained with proceeds of the Reserve Account or the Payment Account, (f) all interest, dividends, distributions, cash, instruments and other property from time to time received, receivable or on deposit in the Reserve Account or the Payment Account, and (g) all proceeds of any of the foregoing (together, the "Collateral"). The Standby Purchaser agrees to take all such action as is ---------- necessary or as the Trustee may require, including delivering Opinions of Counsel in form and substance acceptable to the Trustee, as to the grant and perfection of the foregoing security interests. (b) The security interest granted in the Collateral, except to the extent that withdrawals from them Reserve Account are otherwise limited as set forth in Section 5.3 of the Indenture, shall secure the payment of all obligations of the Standby Purchaser now or hereafter existing under the Transaction Documents, whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise. The Standby Purchaser represents and warrants that it has not heretofor pledged conveyed, granted a lien on, or security interest in, or otherwise encumbered any of the Collateral in favor of any Person under U.S., Cayman, Brazilian or other law.

Pledge of Interests. (a) The Standby Purchaser Issuer hereby pledges to ------------------- the Trustee (for the benefit of the Noteholders) and grants a continuing security interest in, all of its interest (if any) in (a) the Payment Account, (b) the Reserve Account, (c) each Letter of Credit issued from time to time as contemplated hereunder, (d) all funds from time to time on deposit in the Payment Account and/or the Reserve Account, (e) all Permitted Investments obtained with proceeds of the Reserve Account or the Payment Account, (f) all interest, dividends, distributions, cash, instruments and other property from time to time received, receivable or on deposit in the Reserve Account or the Payment Account, and (g) all proceeds of any of the foregoing (together, the "Collateral"). The Standby Purchaser Issuer agrees to take all such action as is necessary or as ---------- the Trustee may require, including delivering Opinions of Counsel in form and substance acceptable to the Trustee, as to the grant and perfection of the foregoing security interests. (b) The security interest granted in the Collateral, except to the extent that withdrawals from them Reserve Account are otherwise limited as set forth in Section 5.3 of the Indenturehereof, shall secure the payment of all obligations of the Standby Purchaser Issuer now or hereafter existing under the Transaction Documents, whether direct or indirect, absolute or contingent, and whether for principal, reimbursement obligations, interest, fees, premiums, penalties, indemnifications, contract causes of action, costs, expenses or otherwise. The Standby Purchaser Issuer represents and warrants that it has not heretofor pledged conveyed, granted a lien on, or security interest in, or otherwise encumbered any of the Collateral in favor of any Person under U.S., Cayman, Brazilian or other law.