Valid Pledge. Each Pledge constitutes the grant of a perfected, first priority security interest in all Pledged Property (other than any Equipment having an Original Equipment Cost of $25,000 or less, with respect to which such security interest is validly granted, but may not be perfected or of first priority) to the Trustee.
Appears in 2 contracts
Samples: Series 2002 a Supplement (Marlin Business Services Corp), Series 2002 a Supplement (Marlin Business Services Inc)
Valid Pledge. Each Pledge constitutes the grant of a perfected, first priority security interest in all Pledged Property (other than any Equipment having an Original Equipment Cost a value of $25,000 or less, with respect to which such security interest is validly granted, but may not be perfected or of first priority) to the Trustee.
Appears in 2 contracts
Samples: Second Amended and Restated Series 2000 a Supplement (Marlin Business Services Corp), Amended and Restated Series 2000 a Supplement (Marlin Business Services Inc)
