Common use of Pledge Instructions Clause in Contracts

Pledge Instructions. The Partnership 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 Partnership Interest as subject to a pledge and security interest in favor of Pledgee who, upon such registration of pledge, shall become the registered pledgee of the Partnership Interest with all rights incident thereto. - Initial Transaction Statement. The Partnership is further instructed by the Interest Owner to promptly inform Pledgee of the registration of the pledge by sending the initial transaction statement, in the form attached hereto as EXHIBIT A, to Pledgee at its office located at __________, with a copy to Interest Owner.