Examples of Subsidiary Pledge and Security Agreement in a sentence
Each of the undersigned Grantor hereby represents and warrants that this Supplement has been duly authorized, executed and delivered by it and that this Supplement and the Subsidiary Pledge and Security Agreement constitute the legal, valid and binding obligation of each of the undersigned, enforceable against it in accordance with its terms.
Wherever possible each provision of this Supplement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Supplement shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Supplement or the Subsidiary Pledge and Security Agreement.
Except as expressly supplemented hereby, the Subsidiary Pledge and Security Agreement shall remain in full force and effect in accordance with its terms.
All proceeds from the sale of Collateral received by the Collateral Agent shall be distributed in accordance with the Borrower Pledge and Security Agreement and the Subsidiary Pledge and Security Agreement, as applicable.
Each Credit Party (other than Company) hereby acknowledges and agrees that the Subsidiary Guaranty and the Subsidiary Pledge and Security Agreement shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness hereof.