Pledge Instructions. The Limited Liability Company is hereby instructed by the Interest Owner to register all of the Interest Owner's right, title and interest in and to all of the Interest Owner's rights in connection with any membership interest in the Limited Liability Company now and hereafter owned by the Interest Owner as subject to a pledge (or assignment) in favor of the Pledgee who, upon such registration of pledge, shall become the registered pledgee (or assignee) of the membership interests with all rights incident thereto.
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Sources: Limited Liability Company Pledge Agreement (American Classic Voyages Co), Limited Liability Company Pledge Agreement (American Classic Voyages Co)