Common use of PLEDGE TO SECURE OBLIGATIONS Clause in Contracts

PLEDGE TO SECURE OBLIGATIONS. This Note Agreement secures the Notes and enforcement of the payment of the Notes in accordance with their terms, and all other sums payable hereunder or on the Notes (whether now or hereafter existing, whether for principal, interest, fees, expenses or otherwise, whether matured or unmatured, absolute or contingent), and for the performance of and compliance with the obligations, covenants, and conditions of this Note Agreement, as if all the Notes at any time Outstanding had been executed and delivered simultaneously with the execution and delivery of this Note Agreement (collectively, the "Obligations"); provided however, that pursuant to the terms of a supplemental note agreement under which a series of Notes is issued, the Assets and Receivables acquired from the proceeds of such series of Notes and the related Collateral can be pledged to secure only that series of Notes and the other related Obligations and not any other series of Notes or its related Obligations, in which case Collateral pledged to secure other series of Notes and their related Obligations shall not secure the series of Notes issued pursuant to such supplemental note agreement or other related Obligations.

PLEDGE TO SECURE OBLIGATIONS. This Note Agreement secures the Notes and enforcement of the payment of the Notes in accordance with their terms, and all other sums payable hereunder or on the Notes (whether now or hereafter existing, whether for principal, interest, fees, expenses or otherwise, whether matured or unmatured, absolute or contingentcontinent), and for the performance of and compliance with the obligations, covenants, and conditions of this Note Agreement, as if all the Notes at any time Outstanding outstanding had been executed and delivered simultaneously with the execution and delivery of this Note Agreement (collectively, the "Obligations"); provided however, that pursuant to the terms of a supplemental note agreement Note Agreement under which a series of Notes is issued, the Assets and Receivables acquired from the proceeds of such series of Notes and the related Collateral can be pledged to secure only that series of Notes and the other related Obligations and not any other series of Notes or its related Obligations, in which case Collateral pledged to secure other series of Notes and their related Obligations shall not secure the series of Notes issued pursuant to the such supplemental note agreement Note Agreement or other related Obligations.