Common use of Pledge to Federal Reserve Bank Clause in Contracts

Pledge to Federal Reserve Bank. The Bank may at any time pledge all ------------------------------ or any portion of its rights under the Loan Documents including any portion of the promissory note to any of the twelve (12) Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or enforcement thereof shall release the Bank from its obligations under any of the Loan Documents.

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Hi Tech Pharmacal Co Inc), Credit and Term Loan Agreement (Hi Tech Pharmacal Co Inc)

AutoNDA by SimpleDocs

Pledge to Federal Reserve Bank. The Bank may at any time pledge all ------------------------------ or any portion of its rights under the Loan Documents Credit Documents, including any portion of the promissory note Notes, to any of the twelve (12) Federal Reserve Banks Bank organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or enforcement thereof shall release the Bank from its obligations under any of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Loislaw Com Inc)

Pledge to Federal Reserve Bank. The Bank may at any time pledge all ------------------------------ or any portion of its rights under the Loan Documents including any portion of the promissory note to any of the twelve (12) Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or enforcement thereof shall release the Bank from its obligations under any of the Loan Documents.

Appears in 1 contract

Samples: Hi Tech Pharmacal Co Inc

Pledge to Federal Reserve Bank. The Bank may at any time pledge all ------------------------------ or any portion of its rights under the Loan Documents including any portion of the promissory note Notes to any of the twelve (12) Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or enforcement thereof shall release the Bank from its obligations under any of the Loan Documents.

Appears in 1 contract

Samples: Netsmart Technologies Inc

AutoNDA by SimpleDocs

Pledge to Federal Reserve Bank. The Without limiting the generality of the Bank's rights under Section 8.5, it is hereby agreed that the Bank may at any time pledge all ------------------------------ or any portion of its rights under the Loan Documents Financing Documents, including all or any portion of any or all of the promissory note Notes, to any of the twelve (12) Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or enforcement thereof shall release the Bank from its obligations under any of the Loan Financing Documents.

Appears in 1 contract

Samples: Credit and Security Agreement (Astrex Inc)

Pledge to Federal Reserve Bank. The Bank may at any time pledge ------------------------------ all ------------------------------ or any portion of its rights under the Loan Documents including any portion of the promissory note Notes to any of the twelve (12) Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or enforcement thereof shall release the Bank from its obligations under any of the Loan Documents.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Netsmart Technologies Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!