Pledge to Federal Reserve. Bank may at any time pledge or assign all or any portion of its rights under the loan documents (including any portion of the Note) to any of the twelve (12) Federal Reserve Banks originated under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or assignment or enforcement thereof shall release Bank from its obligations under any of the Loan Documents.
Appears in 2 contracts
Samples: Term Loan and Security Agreement (Merrimac Industries Inc), Term Loan and Security Agreement (Merrimac Industries Inc)
Pledge to Federal Reserve. Bank may at any time pledge or assign all or any portion of its rights under the loan documents (including any portion of the Loan Note) to any of the twelve (12) Federal Reserve Banks originated under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or assignment or enforcement thereof shall release Bank from its obligations under any of the Loan Documents.
Appears in 1 contract
Samples: Credit and Security Agreement (Merrimac Industries Inc)
Pledge to Federal Reserve. Bank BANK may at any time pledge or assign all or any portion of its rights under the loan documents (Loan Documents including any portion of the Note) Term Note to any of the twelve (12) Federal Reserve Banks originated organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or assignment or enforcement thereof shall release Bank BANK from its obligations under any of the Loan Documents.
Appears in 1 contract
Samples: Loan Agreement (Loehmanns Inc)
Pledge to Federal Reserve. Bank LENDER may at any time pledge or assign all or any portion of its rights under the loan documents (Loan Documents including any portion of the Note) Revolving Note to any of the twelve (12) Federal Reserve Banks originated organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or assignment or enforcement thereof shall release Bank LENDER from its obligations under any of the Loan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Five Star Products Inc)
Pledge to Federal Reserve. Bank BANK may at any time pledge or assign all or any portion of its rights under the loan documents (Loan Documents including any portion of the Note) NY Term Note to any of the twelve (12) Federal Reserve Banks originated organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or assignment or enforcement thereof shall release Bank BANK from its obligations under any of the Loan Documents.
Appears in 1 contract
