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Common use of Pledges of Receivables Clause in Contracts

Pledges of Receivables. Except to secure the Working Capital Loan, the Borrower has not pledged its Accounts as collateral security for any loan or indebtedness other than the Loan.

Appears in 2 contracts

Sources: Loan Agreement (Advocat Inc), Loan Agreement (Advocat Inc)

Related Clauses

  • Collection of Receivable Payments; Modifications of Receivables
  • Collection of Receivables
  • Characteristics of Receivables
  • Servicing of Receivables
  • Reassignment of Ineligible Receivables

Parent Clauses

  • Representations and Warranties
  • BORROWER'S REPRESENTATIONS AND WARRANTIES
  • Representations and Warranties of Borrower and Operator
  • Additional Closing Date Operator Representations and Warranties
  • Borrower Representations
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