Private Owner Pledged Account Acknowledgement. The Private Owner hereby acknowledges that (i) the Private Owner Pledged Account is the "Private Owner Pledged Account" referenced in the LLC Operating Agreement, and (ii) for purposes of the pledge of a first priority lien on and security interest in the Private Owner Pledged Account under the LLC Operating Agreement, the security interest granted thereunder includes a security interest in all amounts on deposit in the Private Owner Pledged Account, and any and all Investment Property, Financial Assets or other Property (including uninvested funds) from time to time credited to the Private Owner Pledged Account or deposited or carried therein, any and all investments made with funds therein, and any and all proceeds, products, income, benefits, substitutions or replacements to any of the foregoing, whether now owned or existing, or hereafter acquired and arising in. For purposes of this Section 3, "Investment Property", "Financial Assets" and "Property" shall each have the meaning given to such terms in the NY UCC.
