Protect Collateral. Pledgors agree that they will own at all times during the term of the Loan one hundred percent (100%) of the ownership interests in Mortgagor. Pledgors agree that 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 Partnership Interests). Pledgors shall warrant and, at 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.)
Protect Collateral. Pledgors agree Pledgor agrees that they it will own at all times during the term of the Loan one hundred percent (100%) of the ownership interests in Mortgagor. Pledgors agree Pledgor agrees that they 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 Partnership Membership Interests). Pledgors Pledgor shall warrant and, at Pledgors’ 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. Pledgors agree Pledgor agrees that they it will own at all times during the term of the Loan one hundred percent (100%) of the ownership interests in MortgagorSenior Mezz Pledgor. Pledgors agree Pledgor agrees that they 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 Partnership Membership Interests). Pledgors Pledgor shall warrant and, at Pledgors’ 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.)
