Pledge of Receivables. (a) The Trust hereby grants to the Collateral Agent, for the benefit and security of the Asset Pool One Noteholders, the Indenture Trustee, in its individual capacity and the Collateral Agent, in its individual capacity, a security interest in all of its right, title and interest, whether owned on the Addition Cut-Off Date or thereafter acquired, in the Receivables existing on the Addition Cut-Off Date or thereafter created in the Additional Asset Pool One Accounts, all Interchange and Recoveries related thereto, all monies due or to become due and all amounts received or receivable with respect thereto and the “proceeds” (including “proceeds” as defined in the applicable UCC) thereof and Insurance Proceeds relating thereto to secure the Asset Pool One Notes (and the obligations under the Indenture and the Asset Pool One Supplement), equally and ratably without prejudice, priority or distinction between any Asset Pool One Note by reason of difference in time of issuance or otherwise, except as otherwise expressly provided in the Indenture, or in the Indenture Supplement which establishes any Series, Class or Tranche of Asset Pool One Notes, and to secure (i) the payment of all amounts due on such Asset Pool One Notes in accordance with their respective terms, (ii) the payment of all other sums payable by the Trust under the Indenture, any Indenture Supplement and the Asset Pool One Supplement relating to the Asset Pool One Notes and (iii) compliance by the Trust with the provisions of the Indenture, any Indenture Supplement or the Asset Pool One Supplement relating to the Asset Pool One Notes. This Assignment constitutes a security agreement under the UCC.
Pledge of Receivables. Borrower has not pledged its Accounts as collateral security for any loan or Indebtedness other than, if applicable, the Loan.
Pledge of Receivables. Borrower will not, and will not allow any Facility Operator to, pledge any receivables arising from the operation of the Facility (or any Leases or Contracts under which such receivables arise) as collateral security for any other loan or indebtedness.
Pledge of Receivables. (a) The Transferor does hereby transfer, assign, set over and otherwise convey to the Trust, without recourse except as provided in the Transfer Agreement, all of its right, title and interest, whether now owned or hereafter acquired, in, to and under the Receivables existing at the close of business at the applicable Addition Cut Off Date of each New Account and thereafter created and arising in the New Accounts (including Related Accounts with respect to such Aggregate Addition Accounts), all Recoveries allocable to such Receivables, all monies due or to become due and all amounts received or receivable with respect thereto, all Collections with respect thereto, and all proceeds (including “proceeds” as defined in the UCC) thereof (collectively, the “Additional Trust Assets”). The foregoing does not constitute and is not intended to result in the creation or assumption by the Trust, the Owner Trustee (as such or in its individual capacity), the Indenture Trustee, any Noteholders or any Supplemental Credit Enhancement Providers of any obligation of the Servicer, the Transferor or any other Person in connection with the Additional Trust Assets or under any agreement or instrument relating thereto, including any obligation to Obligors, merchants clearance systems or insurers.
Pledge of Receivables. Borrower hereby agrees to pledge all Receivables and, if so requested by Lender, Borrower shall deliver to Lender all documents evidencing Receivables of Borrower, no less often than on the twentieth (20th) day of each calendar month during the term of this Agreement, together with the Schedule of Receivables and Assignment, as set forth in Section 3.2 hereof.
Pledge of Receivables. Borrower hereby agrees to pledge all Receivables and deliver documentation evidencing such Receivables (the original contract or agreement that evidences Account Debtor's primary payment obligation to Borrower ("Payment Agreement") and a certificate of title or application therefore in the name of Account Debtor, with the Borrower as the only secured party, of the collateral that secures such payment obligation to Lender ["Certificate of Title"]), no less often than on the twentieth (20th) day of each calendar month during the term of this Agreement. If such evidence of title of the collateral securing a pledged Receivable is not delivered to Lender with the original Receivable documentation, Borrower shall deliver evidence that such original title has been applied for in the name of the respective Account Debtor with Borrower as the only secured party ("White Slip"), in a form and substance satisfactory to Lender, and such evidence of title shall be delivered to Lender not later than fifteen (15) days after such evidence of title is received by Borrower. Any Receivable for which Borrower has not delivered the original Payment Obligation and the Certificate of Title or White Slip, such Receivables shall not be an Eligible Receivable hereunder, until such delivery is made. Borrower will deliver monthly, with the delivery of the documentation evidencing the Receivables above, a "Vehicle Title Exception Report" listing all Certificates of Titles which have not been received by Lender or are due from the appropriate state motor vehicle department.
Pledge of Receivables. 3.1 The Pledgor grants to the Pledgee:
Pledge of Receivables. 13 3.4. FAILURE TO DELIVER...........................................13 3.5.
Pledge of Receivables. With the exception of the A/R Loan, Borrower has not pledged its Accounts as collateral security for any loan or Indebtedness other than, if applicable, the Loan.
Pledge of Receivables. [Intentionally Deleted] ---------------------
