Pledge of the Collateral. (a) To secure the full payment of the Indebtedness and the performance of the Obligations, each Pledgor hereby sells, conveys, assigns, transfers and grants a first priority continuing security interest in, pledges and sets over unto Agent, for Agent’s own benefit and the benefit of Lenders, all of its right, title and interest, whether now owned or hereafter acquired or arising, in and to each Collection Account and all interest, dividends, credits and proceeds relating thereto and all monies, checks and other similar instruments held or deposited therein (collectively, the “Collateral”):
Appears in 2 contracts
Samples: Building Loan Agreement (New York Times Co), Project Loan Agreement (New York Times Co)
Pledge of the Collateral. (a) To secure the full payment of the Indebtedness and the performance of the Obligations, each Pledgor hereby sells, conveys, assigns, transfers and grants a first priority continuing security interest in, pledges and sets over unto Agent, for Agent’s own benefit and the benefit of Lenders, all of its right, title and interest, whether now owned or hereafter acquired or arising, in and to each Collection Account and Security Deposit Account, all interest, dividends, credits and proceeds relating thereto and thereto, all monies, checks and other similar instruments held or deposited therein and all of Borrower’s rights under any letters of credit, including all rights to proceeds of any letters of credit (collectively, the “Collateral”):
Appears in 2 contracts
Samples: Building Loan Agreement (New York Times Co), Project Loan Agreement (New York Times Co)
