Common use of Pledge of Net Revenues Clause in Contracts

Pledge of Net Revenues. The Obligation hereunder shall be secured by a lien on and pledge of Net Revenues in priority as specified in Exhibit F. The Recipient hereby pledges and grants such lien on and pledge of Net Revenues to secure the Obligation, including payment of Installment Payments and Additional Payments hereunder. The Net Revenues shall be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Recipient.

Pledge of Net Revenues. The Obligation hereunder shall be secured by a lien on and pledge of Net Revenues in priority as specified in Exhibit F. The Recipient hereby pledges and grants such lien on and pledge of Net Revenues to secure the Obligation, including payment of Installment Payments and Additional Payments hereunder. The Net Revenues in the Enterprise Fund shall be subject to the lien of such pledge without any physical delivery thereof or further act, and the lien of such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Recipient.