Common use of Pledged Debt Clause in Contracts

Pledged Debt. Each Grantor will cause any Indebtedness for borrowed money having an aggregate principal amount in excess of $5,000,000 in the aggregate owed to such Grantor by any Person that is evidenced by a duly executed promissory note to be delivered to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the terms hereof no later than the Quarterly Update Date for the quarter in which such note is received by such Grantor.

Pledged Debt. Each Grantor will cause any Indebtedness for borrowed money having an aggregate principal amount in excess of $5,000,000 in the aggregate owed to such Grantor by any Person that is evidenced by a duly executed promissory note to be pledged and delivered to the Collateral Administrative Agent, for the benefit of the Secured Parties, pursuant to the terms hereof no later hereof; provided, however, that such pledge requirement shall not apply to any promissory note with a principal amount less than the Quarterly Update Date for the quarter in which such note is received by such Grantor$5,000,000.

Pledged Debt. Each Grantor will cause any Indebtedness for borrowed money having an aggregate principal amount in excess of $5,000,000 in the aggregate owed to such Grantor by any Person that is evidenced by a duly executed promissory note to be pledged and delivered to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the terms hereof no later than the Quarterly Update Date for the quarter in which such note is received by such Grantorhereof.

Pledged Debt. Each Grantor will cause any Indebtedness for borrowed money having an aggregate principal amount in excess of $5,000,000 in the aggregate owed to such Grantor by any Person that is evidenced by a duly executed promissory note to be pledged and delivered to the Collateral Administrative Agent, for the benefit of the Secured Parties, pursuant to the terms hereof no later than the Quarterly Update Date for the quarter in which such note is received by such Grantorhereof.

Pledged Debt. Each Grantor will cause (i) any Indebtedness for borrowed money having an aggregate principal amount in excess of $5,000,000 in the aggregate 3,000,000 owed to such Grantor by any Person that is evidenced by a duly executed promissory note and (ii) the Intercompany Note to be pledged and delivered to the Collateral Administrative Agent, for the benefit of the Secured Parties, pursuant to the terms hereof no later than the Quarterly Update Date for the quarter in which such note is received by such Grantorhereof.