Common use of Pledge of Receivables Clause in Contracts

Pledge of Receivables. 3.1 The Pledgor grants to the Pledgee: (a) a first priority disclosed right of pledge (openbaar pandrecht eerste in rang) over its Receivables which exist at the date of registration of this Deed; and (b) to the extent the Receivables consist of future Receivables a first priority disclosed right of pledge (openbaar pandrecht eerste in rang) is granted in advance (bij voorbaat) over all future Receivables, as security for the Secured Obligations, provided, however, that in no event shall the Receivables pledged pursuant to this Deed as well as the Receivables (as defined in that certain deed of pledge between Laureate Education Inc and the Pledgee dated August 17, 2007) pledged pursuant to that certain deed of pledge between Laureate Education Inc and the Pledgee dated August 17, 2007, exceed sixty-five percent (65%) of all rights and claims (vorderingsrechten) (including but not limited to a right of recourse (regres) or subrogation (subrogatie)) whether present or future, whether actual or contingent, of all partners (both general and limited) against the C.V., provided further, that for the avoidance of doubt, in no event shall the general partner of the C.V. be required to create any pledge as security for the Secured Obligations. 3.2 The Right of Pledge includes all accessory rights (afhankelijke rechten) and all ancillary rights (nevenrechten) attached to the Receivables. 3.3 To the extent that the Receivables are (or shall be) subject to an encumbrance or right of pledge taking priority over the Right of Pledge, nevertheless the Right of Pledge will have been (or will be) created with the highest possible rank available at that time. 3.4 By signing this Deed for acknowledgement, the C.V. acknowledges to have been duly informed of the Right of Pledge created on the Receivables pursuant to this Deed within the meaning of Section 3:94 juncto Section 3:236 of the Dutch Civil Code. 3.5 By signing this Deed for acknowledgment, each of Laureate Education, Inc., and Fleet Street International Universities Holdings LLC, in their capacity as partner of the C.V. and together with the Pledgor constituting all partners of the C.V., confirm their prior consent to the creation of the Right of Pledge on the Receivables.

Pledge of Receivables. 3.1 The Each Pledgor grants to the Pledgee: (a) a first priority disclosed undisclosed right of pledge (openbaar stil pandrecht eerste in rang) over all its Receivables which exist at the date of registration of this Deed; and (b) to the extent the Receivables consist of future Receivables which will directly arise from legal relationships (rechtsverhoudingen) which exist at the date of registration of this Deed a first priority disclosed undisclosed right of pledge (openbaar stil pandrecht eerste in rang) is granted in advance (bij voorbaat) over all its future Receivables, as security for the Secured Obligations, provided, however, that in no event shall the Receivables . 3.2 In respect of any Receivable not pledged pursuant to this Clause 3.1 or pursuant to any Supplemental Deed as well of Pledge, each Pledgor undertakes to grant to the Pledgee: (a) semi-annually or with such other frequency as the Receivables Pledgee may in its discretion reasonably designate in writing to the relevant Pledgor; and (as defined in that certain deed b) upon first request of the Pledgee, by means of a Supplemental Deed of Pledge: (a) a first priority undisclosed right of pledge between Laureate Education Inc and (stil pandrecht eerste in rang) over all its Receivables which exist at the Pledgee dated August 17, 2007date of registration of a Supplemental Deed of Pledge; and (b) pledged pursuant to that certain deed the extent the Receivables consist of future Receivables which will directly arise from legal relationships (rechtsverhoudingen) which exist at the date of registration of a Supplemental Deed of Pledge a first priority undisclosed right of pledge between Laureate Education Inc and the Pledgee dated August 17(stil pandrecht eerste in rang) is granted in advance (bij voorbaat) over all its future Receivables, 2007, exceed sixty-five percent (65%) of all rights and claims (vorderingsrechten) (including but not limited to a right of recourse (regres) or subrogation (subrogatie)) whether present or future, whether actual or contingent, of all partners (both general and limited) against the C.V., provided further, that for the avoidance of doubt, in no event shall the general partner of the C.V. be required to create any pledge as security for the Secured Obligations. 3.2 3.3 The Right of Pledge includes all accessory rights (afhankelijke rechten) and all ancillary rights (nevenrechten) attached to the Receivables. 3.3 3.4 To the extent that the Receivables are (or shall be) subject to an encumbrance or right of pledge taking priority over the Right of Pledge, nevertheless the Right of Pledge will have been (or will be) created with the highest possible rank available at that time. 3.4 By signing this 3.5 Each Pledgor undertakes to promptly provide the Pledgee with a copy of any executed Supplemental Deed for acknowledgementof Pledge. 3.6 Each Pledgor irrevocably and unconditionally authorises the Pledgee to accept on behalf of each Pledgor any right of pledge envisaged to be created under any Supplemental Deed of Pledge, which authorisation permits the C.V. acknowledges Pledgee to have been duly informed of the Right of Pledge created on the Receivables pursuant to this Deed act as a Pledgor’s counterparty (Selbsteintritt) within the meaning of Section 3:94 juncto Section 3:236 3:68 of the Dutch Civil CodeCode or as a representative of a Pledgor’s counterparty. 3.5 By signing this Deed for acknowledgment, each of Laureate Education, Inc., and Fleet Street International Universities Holdings LLC, in their capacity as partner of the C.V. and together with the Pledgor constituting all partners of the C.V., confirm their prior consent to the creation of the Right of Pledge on the Receivables.

Pledge of Receivables. 3.1 The Pledgor grants to the Pledgee: (a) a first priority disclosed undisclosed right of pledge (openbaar stil pandrecht eerste in rang) over all its Receivables which exist at the date of registration of this Deed; and (b) to the extent the Receivables consist of future Receivables which will directly arise from legal relationships (rechtsverhoudingen) which exist at the date of registration of this Deed a first priority disclosed undisclosed right of pledge (openbaar stil pandrecht eerste in rang) is granted in advance (bij voorbaat) over all its future Receivables, as security for the Secured Obligations, provided, however, that in no event shall the Receivables . 3.2 In respect of any Receivable not pledged pursuant to this Clause 3.1 or pursuant to any Supplemental Deed as well of Pledge, the Pledgor undertakes to grant to the Pledgee: (a) semi-annually or with such other frequency as the Receivables Pledgee may in its discretion reasonably designate in writing to the Pledgor; and (as defined in that certain deed b) upon first request of the Pledgee, by means of a Supplemental Deed of Pledge: (a) a first priority undisclosed right of pledge between Laureate Education Inc and (stil pandrecht eerste in rang) over all its Receivables which exist at the Pledgee dated August 17, 2007date of registration of a Supplemental Deed of Pledge; and (b) pledged pursuant to that certain deed the extent the Receivables consist of future Receivables which will directly arise from legal relationships (rechtsverhoudingen) which exist at the date of registration of a Supplemental Deed of Pledge a first priority undisclosed right of pledge between Laureate Education Inc and the Pledgee dated August 17(stil pandrecht eerste in rang) is granted in advance (bij voorbaat) over all its future Receivables, 2007, exceed sixty-five percent (65%) of all rights and claims (vorderingsrechten) (including but not limited to a right of recourse (regres) or subrogation (subrogatie)) whether present or future, whether actual or contingent, of all partners (both general and limited) against the C.V., provided further, that for the avoidance of doubt, in no event shall the general partner of the C.V. be required to create any pledge as security for the Secured Obligations. 3.2 3.3 The Right of Pledge includes all accessory rights (afhankelijke rechten) and all ancillary rights (nevenrechten) attached to the Receivables. 3.3 3.4 To the extent that the Receivables are (or shall be) subject to an encumbrance or right of pledge taking priority over the Right of Pledge, nevertheless the Right of Pledge will have been (or will be) created with the highest possible rank available at that time. 3.4 By signing this 3.5 The Pledgor undertakes to promptly provide the Pledgee with a copy of any executed Supplemental Deed for acknowledgement, of Pledge. 3.6 The Pledgor irrevocably and unconditionally authorises the C.V. acknowledges Pledgee to have been duly informed accept on behalf of the Right Pledgor any right of Pledge pledge envisaged to be created on under any Supplemental Deed of Pledge, which authorisation permits the Receivables pursuant Pledgee to this Deed act as the Pledgor’s counterparty (Selbsteintritt) within the meaning of Section 3:94 juncto Section 3:236 3:68 of the Dutch Civil Code. 3.5 By signing this Deed for acknowledgment, each of Laureate Education, Inc., and Fleet Street International Universities Holdings LLC, in their capacity Code or as partner a representative of the C.V. and together with the Pledgor constituting all partners of the C.V., confirm their prior consent to the creation of the Right of Pledge on the ReceivablesPledgor’s counterparty.