Pledged Debt. Each Grantor will cause (i) any Indebtedness for borrowed money having an aggregate principal amount in excess of $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 Administrative Agent, for the benefit of the Secured Parties, pursuant to the terms hereof.
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Samples: Term Loan Security Agreement (Prestige Brands Holdings, Inc.)
Pledged Debt. Each Grantor will cause (i) any Indebtedness for borrowed money having an aggregate principal amount in excess of $3,000,000 5,000,000 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 Administrative Agent, for the benefit of the Secured Parties, pursuant to the terms hereof.
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Pledged Debt. Each Grantor will cause (i) any Indebtedness for borrowed money having an aggregate principal amount in excess of $3,000,000 5,000,000 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 Administrative Collateral Agent, for the benefit of the Secured Parties, pursuant to the terms hereof.
Appears in 1 contract
Samples: Security Agreement
Pledged Debt. Each Grantor will cause (i) any Indebtedness for borrowed money having an aggregate principal amount in excess of $3,000,000 5,000,000 in the aggregate 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 Administrative Collateral Agent, for the benefit of the Secured Parties, pursuant to the terms hereofhereof no later than the Quarterly Update Date for the quarter in which such note is received by such Grantor.
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