Common use of Pledge of Accounts Clause in Contracts

Pledge of Accounts. To secure the full and punctual payment and performance of all of the Indebtedness, Borrower hereby assigns, conveys, pledges and transfers to Lender as secured party and grants Lender a first and continuing security interest in and to, the following property, whether now owned or existing or hereafter acquired or arising and regardless of where located (collectively, the “Account Collateral”): (i) all of Borrower’s right, title and interest in the Mezzanine Loan Account and all Money and Permitted Investments, if any, from time to time deposited or held in the Mezzanine Loan Account or purchased with funds or assets on deposit in the Mezzanine Loan Account; (ii) all of Borrower’s right, title and interest in interest, dividends, Money, Instruments and other property from time to time received, receivable or otherwise payable in respect of, or in exchange for, any of the foregoing until such time as such items are disbursed from the Mezzanine Loan Account; and (iii) to the extent not covered by clause (i) or (ii) above, all Borrower’s right, title and interest in Proceeds of any or all of the foregoing until such time as such items are disbursed from the Mezzanine Loan Account.