Common use of Pledge to a Federal Reserve Bank Clause in Contracts

Pledge to a Federal Reserve Bank. Notwithstanding anything to the contrary set forth herein (including in Section 12.03), (i) each Lender that constitutes a banking institution or any assignee or participant thereof other than a Conduit Lender, or (ii) in the event that any Conduit Lender assigns any of its interest in, to and under the Pool Receivables or Related Assets to any Program Support Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Loans and the security interest in the Pool Receivables or Related Assets or under this Agreement to secure the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority or any central bank having jurisdiction over such Person, in each case without notice to or the consent of the Borrower, ADT or the Servicer, but such pledge, grant, or transfer shall not relieve any Person from its obligations hereunder, and each of the other parties hereto shall be entitled to treat such Lender’s Principal and its interest under this Agreement as not having been assigned, pledged or otherwise transferred for all purposes under this Agreement.

Pledge to a Federal Reserve Bank. Notwithstanding anything to the contrary set forth herein (including in Section 12.0313.3), (i) each Lender Purchaser that constitutes a banking institution or any assignee or participant thereof other than a Conduit LenderPurchaser, or (ii) in the event that any Conduit Lender Purchaser assigns any of its interest in, to and under the Pool Receivables or Related Assets to any Program Support Liquidity Provider or Enhancement Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Loans and the security interest in the Pool Receivables or Related Assets or under this Agreement to secure the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority or any central bank having jurisdiction over such Person, in each case without notice to or the consent of the BorrowerSeller, ADT or the Servicer, but such pledge, grant, or transfer shall not relieve any Person from its obligations hereunder, and each of the other parties hereto shall be entitled to treat such LenderPurchaser’s Principal Investment and its interest in the Pool Receivables or Related Assets or under this Agreement as not having been assigned, pledged or otherwise transferred for all purposes under this Agreement.. SECTION 13.16

Pledge to a Federal Reserve Bank. Notwithstanding anything to the contrary set forth herein (including in Section 12.03), (i) each Lender that constitutes a banking institution or any assignee or participant thereof other than a Conduit Lender, or (ii) in the event that any Conduit Lender assigns any of its interest in, to and under the Pool Receivables or Related Assets to any Program Support Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Loans and the security interest in the Pool Receivables or Related Assets or under this Agreement to secure the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority or any central bank having jurisdiction over such Person, in each case without notice to or the consent of the Borrower, ADT Compass or the Servicer, but such pledge, grant, or transfer shall not relieve any Person from its obligations hereunder, and each of the other parties hereto shall be entitled to treat such Lender’s Principal and its interest under this Agreement as not having been assigned, pledged or otherwise transferred for all purposes under this Agreement. SECTION 12.16.

Pledge to a Federal Reserve Bank. Notwithstanding anything to the contrary set forth herein (including in Section 12.0313.3), (i) each Lender Purchaser that constitutes a banking institution or any assignee or participant thereof other than a Conduit LenderPurchaser, or (ii) in the event that any Conduit Lender Purchaser assigns any of its interest in, to and under the Pool Receivables or Related Assets to any Program Support Liquidity Provider or Enhancement Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Loans and the security interest in the Pool Receivables or Related Assets or under this Agreement to secure the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority or any central bank having jurisdiction over such Person, in each case without notice to or the consent of the BorrowerSeller, ADT or the Servicer, but such pledge, grant, or transfer shall not relieve any Person from its 122 obligations hereunder, and each of the other parties hereto shall be entitled to treat such LenderPurchaser’s Principal Investment and its interest in the Pool Receivables or Related Assets or under this Agreement as not having been assigned, pledged or otherwise transferred for all purposes under this Agreement.

Pledge to a Federal Reserve Bank. Notwithstanding anything to the contrary set forth herein (including in Section 12.0313.3), (i) each Lender Purchaser that constitutes a banking institution or any assignee or participant thereof other than a Conduit LenderPurchaser, or (ii) in the event that any Conduit Lender Purchaser assigns any of its interest in, to and under the Pool Receivables or Related Assets to any Program Support Liquidity Provider or Enhancement Provider, any such Person, may at any time pledge, grant a security interest in or otherwise transfer all or any portion of its interest in the Loans and the security interest in the Pool Receivables or Related Assets or under this Agreement to secure the obligations of such Person to a Federal Reserve Bank or otherwise to any other federal Governmental Authority or special purpose entity formed or sponsored by any such federal Governmental Authority or any central bank having jurisdiction over such Person, in each case without notice to or the consent of the BorrowerSeller, ADT or the Servicer, but such pledge, grant, or transfer shall not relieve any Person from its obligations hereunder, and each of the other parties hereto shall be entitled to treat such LenderPurchaser’s Principal Investment and its interest in the Pool Receivables or Related Assets or under this Agreement as not having been assigned, pledged or otherwise transferred for all purposes under this Agreement.