Common use of Pledge Documents Clause in Contracts

Pledge Documents. Each Loan Party which owns any Equity Interest in any other Subsidiary has duly executed and delivered the applicable Pledge Document to the extent required under Section 6.13. Each Pledge Document is effective to create in favor of the Administrative Agent, for the ratable benefit of the applicable Secured Parties, a legal, valid and enforceable security interest in the relevant Collateral and, to the extent applicable when the Collateral is delivered to the Administrative Agent (and the appropriate filings or other action required by applicable law), each Pledge Document shall constitute a fully perfected first priority Lien on, and security interest in, all right, title and interest of the pledgors thereunder in the relevant Collateral, in each case prior and superior in right to any other person (other than Liens permitted by Section 7.3(f)).

Pledge Documents. Each Loan Party which owns any Equity Interest capital stock or other equity interest in any other Subsidiary has duly executed and delivered the applicable Pledge Document Agreement to the extent required under Section 6.13. Each The Pledge Document Agreement is effective to create in favor of the Administrative Agent, for the ratable benefit of the applicable Secured Parties, a legal, valid and enforceable security interest in the relevant Collateral and, to the extent applicable when the Collateral is delivered to the Administrative Agent (and the appropriate filings or other action required by applicable lawspecified in Schedule 5.20 are made), each the Pledge Document Agreement shall constitute a fully perfected first priority Lien on, and security interest in, all right, title and interest of the pledgors thereunder in the relevant such Collateral, in each case prior and superior in right to any other person (other than Liens permitted by Section 7.3(f)).