Protect Collateral. Pledgor agrees that it will own at all times during the term of the Loan one hundred percent (100%) of the ownership interests in Mortgagor. Pledgor agrees that it shall not sell, assign, transfer, pledge or encumber in any other manner the Collateral (except for the pledge to Lender hereunder or an assignment to Lender or its designee pursuant to the Assignment of Membership Interests). Pledgor shall warrant and, at Pledgor’s expense, defend the right and title herein granted unto the Lender in and to the Collateral (and all right, title and interest represented by the Collateral) against the claims and demands of all persons whomsoever.
Appears in 2 contracts
Samples: Senior Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.), Senior Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Protect Collateral. Pledgor agrees that it will own at all times during the term of the Loan one hundred percent (100%) of the ownership interests in MortgagorSenior Mezz Pledgor. Pledgor agrees that it shall not sell, assign, transfer, pledge or encumber in any other manner the Collateral (except for the pledge to Lender hereunder or an assignment to Lender or its designee pursuant to the Assignment of Membership Interests). Pledgor shall warrant and, at Pledgor’s expense, defend the right and title herein granted unto the Lender in and to the Collateral (and all right, title and interest represented by the Collateral) against the claims and demands of all persons whomsoever.
Appears in 2 contracts
Samples: Junior Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.), Junior Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Protect Collateral. Pledgor agrees Pledgors agree that it they will own at all times during the term of the Loan one hundred percent (100%) of the ownership interests in Mortgagor. Pledgor agrees Pledgors agree that it they shall not sell, assign, transfer, pledge or encumber in any other manner the Collateral (except for the pledge to Lender hereunder or an assignment to Lender or its designee pursuant to the Assignment of Membership Partnership Interests). Pledgor Pledgors shall warrant and, at Pledgor’s Pledgors’ expense, defend the right and title herein granted unto the Lender in and to the Collateral (and all right, title and interest represented by the Collateral) against the claims and demands of all persons whomsoever.
Appears in 2 contracts
Samples: Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.), Mezzanine Pledge and Security Agreement (Behringer Harvard Opportunity REIT I, Inc.)
