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 sells, assigns, conveys, pledges and transfers to Lender (and after the Securitization Closing Date to Lender or its assigns on behalf of the Certificateholders), and grants to Lender (and after the Securitization Closing Date to Lender or its assigns on behalf of the Certificateholders) 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 Property Collection Accounts and the Servicer Account and all Money, if any, from time to time deposited or held in the Property Collection Accounts and the Servicer Account; (ii) all of Borrower's right, title and interest in the Security Deposit Account and all Money, if any, from time to time deposited or held in the Security Deposit Account; (iii) all of Borrower's right, title and interest in the Cash Collateral Account and the Servicer Account and all Money and Permitted Investments, if any, from time to time deposited or held in the Cash Collateral Account and the Servicer Account; (iv) all 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 (provided, however, that amounts transferred to Borrower's account pursuant to Section 2.12(b) or (g) shall not be subject to any continuing lien or security interest in favor of Lender); and (v) to the extent not covered by clause (i), (ii), (iii) or (iv) above, all proceeds (as defined under the Uniform Commercial Code of the applicable jurisdiction) of any or all of the foregoing (provided, however, that amounts transferred to Borrower's account pursuant to Section 2.12(b) or (g) shall not be subject to any continuing lien or security interest in favor of Lender).

Pledge of Accounts. To secure the full and punctual payment and performance of all of the Indebtedness, Borrower hereby sells, assigns, conveys, pledges and transfers to Servicer on behalf of Lender (and after the Securitization Closing Date to Lender or its assigns on behalf of the Certificateholders), and grants to Servicer on behalf of Lender (and after the Securitization Closing Date to Lender or its assigns on behalf of the Certificateholders) 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 Property Collection Accounts and the Servicer Account and all Money, if any, from time to time deposited or held in the Property each Collection Accounts and the Servicer Account; (ii) all of Borrower's right, title and interest in the Security Deposit Account Accounts and all Money, if any, from time to time deposited or held in the each Security Deposit Account; (iii) all of Borrower's right, title and interest in the Cash Collateral Account and the Servicer Account and all Money and Permitted Investments, if any, from time to time deposited or held in the Cash Collateral Account and the Servicer Account; (iv) all 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 (provided, however, that amounts transferred to Borrower's account pursuant to Section 2.12(b) or (g) shall not be subject to any continuing lien or security interest in favor of Lender)foregoing; and (v) to the extent not covered by clause clauses (i), (ii), (iii) or (iv) above, all proceeds (as defined under the Uniform Commercial Code of the applicable jurisdiction) of any or all of the foregoing (provided, however, that amounts transferred to Borrower's account pursuant to Section 2.12(b) or (g) shall not be subject to any continuing lien or security interest in favor of Lender)foregoing.

Pledge of Accounts. To secure the full and punctual payment and performance of the Debt and all Obligations of Borrower under the IndebtednessLoan Documents, Borrower hereby sells, assigns, conveys, pledges and transfers to Lender (and after the Securitization Closing Date to Lender or its assigns on behalf of the Certificateholders), and grants to Lender (and after the Securitization Closing Date to Lender or its assigns on behalf of the Certificateholders) a first and priority continuing security interest in and toto the following property (collectively, the following property“Account Collateral”) of Borrower, whether now owned or existing or hereafter acquired or arising and regardless of where located (collectively, the "Account Collateral"): located: (i) all of Borrower's rightthe Accounts (whether established on the Closing Date or on any date following the Closing Date), title and interest in the Property Collection Accounts and the Servicer Account and all Moneycash, checks, drafts, securities, certificates and instruments, if any, from time to time deposited or held in the Property Collection Accounts and the Servicer Account; in, or credited to, such accounts, including all deposits or wire transfers made to such accounts; (ii) all of Borrower's right, title and interest in the Security Deposit Account and all Money, if any, from time to time deposited or held in the Security Deposit Account; (iii) all of Borrower's right, title and interest in the Cash Collateral Account and the Servicer Account and all Money and Permitted Investments, if any, from time to time deposited or held in the Cash Collateral Account and the Servicer Account; (iv) all interest, dividends, Moneycash, Instruments instruments and other property from time to time received, receivable or otherwise payable in respect of, or in exchange for, any or all of the foregoing foregoing; and (provided, however, that amounts transferred to Borrower's account pursuant to Section 2.12(b) or (g) shall not be subject to any continuing lien or security interest in favor of Lender); and (viii) to the extent not covered by clause clauses (i), (ii), (iii) or (ivii) above, all proceeds “proceeds” (as defined under the Uniform Commercial Code of the applicable jurisdictionUCC) of any or all of the foregoing. Lender shall have with respect to the foregoing (providedcollateral, howeverin addition to the rights and remedies herein set forth, that amounts transferred all of the rights and remedies available to a secured party under the UCC, as if such rights and remedies were fully set forth herein. Upon the occurrence and during the continuance of an Event of Default, Lender may notify any applicable bank of such Event of Default and, without notice to Borrower's account pursuant , (a) Borrower shall have no further right in respect of (including the right to Section 2.12(binstruct Lender or any such bank to transfer from) the Accounts and such collateral, and (b) Lender may apply such collateral to the Debt in such order of priority as Lender may determine. Borrower will not in any way alter or (g) shall modify the Accounts and will not be subject to any continuing lien further pledge, assign, encumber or grant a security interest in favor of Lender)the foregoing.