Common use of Accounts, Etc Clause in Contracts

Accounts, Etc. Each Credit Party hereby notifies each other Credit Party that pursuant to one or more Security Documents it has pledged, charged or assigned, for the purpose of security, certain property, including, without limitation, its Accounts, Chattel Paper, Documents, General Intangibles, Letter-of-Credit Rights and Payment Intangibles, and the Proceeds thereof, if any, among other property, to the Trustee on behalf itself and of the Holders as collateral and continuing security for the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the obligations of the Credit Parties under and in respect of the Indenture, the Notes and the Security Documents. Each Credit Party hereby acknowledges notice of, and consents to, such pledge, charge or assignment.