Common use of Pledged Intercompany Notes Clause in Contracts

Pledged Intercompany Notes. If any amount payable under or in connection with any of the Collateral shall be or become evidenced by any Pledged Intercompany Note from CBII to the Company, immediately deliver such Pledged Intercompany Note to the Collateral Agent, for the benefit of itself and the other Secured Parties, duly indorsed in a manner satisfactory to the Collateral Agent, to be held as Collateral pursuant to this Security Agreement (and Schedule 3.05 shall be deemed updated to reflect any additional Pledged Intercompany Notes).

Appears in 4 contracts

Samples: Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc)

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