Common use of Security for Obligations Clause in Contracts

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the ------------------------ Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the BondsNote Purchase Agreement, Indenture the Guaranty and Mortgage the other Basic Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or and performance in full when due, whether at stated maturity, by required prepayment, declarationacceleration or demand in accordance with the Credit Agreement, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a))otherwise, of all obligations of each Grantor to each Secured Party, including the Obligations (as defined in the Credit Agreement), however created, arising or evidenced, and liabilities of every nature of PFC now whether or hereafter existing under or arising out of or in connection with the Bondsnot evidenced by a Loan Document (including, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if anywithout limitation, interest (including without limitation interest and other amounts that, but for the filing of a petition in bankruptcy with respect to PFCany Grantor, would accrue on such obligations, whether or not a claim is allowed against such Grantor for such amounts in the related bankruptcy proceeding), together with all extensions or renewals thereof, whether for principal, interest, fees, premiums, expenses, indemnities reimbursement obligations, indemnities, or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, now existing or hereafter arising or acquired, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Agent or any other Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Grantors now or hereafter existing under this Agreement (all collectively, the “Secured Obligations”). Each Grantor confirms that value has been given by the Secured Parties or any of them to such obligations of Grantor, together with that such Grantor has rights in its Collateral existing at the Underlying Debt, being date of this Agreement and that such Grantor and the "Secured Obligations")Agent have not agreed to postpone the time for attachment of the Security Interest in any of the Collateral of such Grantor.

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Debtor now or hereafter existing under or arising out of or in connection with the BondsTerm Loan Agreement dated as of the date hereof, Indenture between the Debtor and Mortgage Documents Secured Party (the "Term Loan Agreement"), and the Non-Recourse Promissory Note and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCDebtor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Debtor now or hereafter existing under this Agreement (all such obligations of GrantorDebtor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC IV-1 and IV-2 now or hereafter existing under or arising out of or in connection with the BondsLoan Agreements, Indenture and Mortgage Documents now or hereafter existing, and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCIV-1 or IV-2, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security forpledged hereunder secures the full and punctual payment and performance of (the following clauses (a), (b) and (c), collectively, the prompt payment or performance “Obligations”) (a) the obligations under the 2004 Securities Purchase Agreement and the Related Agreements referred to in full when duethe 2004 Securities Purchase Agreement, whether at stated maturity(b) the 2005 Security Agreement and the Ancillary Agreements referred to in the 2005 Security Agreement (the 2004 Securities Purchase Agreement, by required prepaymentthe Related Agreements referred to in the 2004 Securities Purchase Agreement, declarationthe 2005 Security Agreement and the Ancillary Agreements referred to in the 2005 Security Agreement, accelerationas each may be amended, demand or otherwise restated, modified and/or supplemented from time to time, collectively, the “Documents”) and (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(ac) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all other obligations and liabilities of every nature of PFC each Pledgor to the Pledgee whether now existing or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntaryarising, direct or indirect, liquidated or unliquidated, absolute or contingent, liquidated or unliquidated, whether due or not jointly owed with others, due and whether under, pursuant to or not from time to time decreased or extinguished and later increasedevidenced by a note, created or incurredagreement, and all or any portion of such obligations or liabilities that are paidguaranty, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer instrument or otherwise (all in each case, irrespective of the genuineness, validity, regularity or enforceability of such obligations and liabilities being Obligations, or of any instrument evidencing any of the "Underlying Debt")Obligations or of any collateral therefor or of the existence or extent of such collateral, and irrespective of the allowability, allowance or disallowance of any or all of such in any case commenced by or against any Pledgor under ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code, including, without limitation, obligations of every nature each Pledgor for post-petition interest, fees, costs and charges that would have accrued or been added to the Obligations but for the commencement of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations"case).

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the ------------------------ Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement, Indenture the Guaranty and Mortgage Documents the other Loan Documents, and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, determined or undetermined, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Agent or any Holder Bank as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement and under any other Loan Document heretofore, now or hereafter delivered by Pledgor to Agent, and all extensions, renewals, restatements, supplements, amendments or modifications thereof or thereto (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the ------------------------ Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Party, any Lender or any Holder Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, (a) To secure the full and the Collateral is collateral security for, the prompt punctual payment or and performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Lessee now or hereafter existing under or arising out of or in connection with respect to the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereofLease Agreement, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing payment of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities Rent or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Lessee or Operator now or hereafter existing under this Agreement, the Clearing Account Agreements, the Operative Documents and all other documents delivered by Lessee or Operator in connection with the Lease Agreement (all such obligations of Grantorobligations, together with the Underlying Debtcollectively, being the "Secured Obligations"), Lessee and Operator hereby grant to Lessor a first priority continuing security interest in and to the following property, whether now owned or existing or hereafter acquired or arising and regardless of where located (all of the same, collectively, the "Collateral"): (i) the Accounts (other than the Pooled Account) and all cash, checks, drafts, certificates and instruments, if any, from time to time deposited or held in the Accounts (other than the Pooled Account), including, without limitation, all deposits or wire transfers made to the Accounts (other than the Pooled Account); (ii) any and all amounts invested in Permitted Investments; (iii) all interest, dividends, cash, 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; and (iv) to the extent not covered by clauses (i), (ii) or (iii) above, all "proceeds" (as defined under the Uniform Commercial Code as in effect in the State of Florida (the "UCC")) of any or all of the foregoing; provided, however, Collateral shall not be deemed to include any amounts paid to Operator in accordance with the Lease Agreement or the Operating Agreements. (b) Lessor and Agent, as agent for Lessor, shall have with respect to the Collateral, in addition to the rights and remedies herein set forth, 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.

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand demand, or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section §362(a)), of all obligations and liabilities of every nature of PFC now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Obligations and all amendments, renewals or extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Pledgor, would accrue on such obligations), fees, expenses, indemnities indemnities, or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created created, or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder other Credit Party as a preference, fraudulent transfer transfer, or otherwise (all such obligations and liabilities being the "“Underlying Debt"”), and all payment obligations of every nature of Grantor each Pledgor now or hereafter existing under Section 14 of this Agreement (all such obligations of GrantorPledgors, together with the Underlying Debt, being the "“Secured Obligations"”).

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, (i) the prompt payment or and performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand acceleration or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code and the operation of Sections 502(b) and 506(b) of the Bankruptcy Code or any successor provision thereto, and all interest accruing on the payment obligations set forth in the Note after the filing of a petition by or against the Pledgor under the Bankruptcy Code, 11 U.S.C. Section 362(a)in accordance with the Note whether or not the claim for such interest is allowed as a claim after such filing in any proceeding under the Bankruptcy Code), of all obligations and liabilities of every nature of PFC Pledgor under the Note, whether now existing or hereafter existing under or arising out of or in connection with the Bondsarising, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, whether or not jointly owed with others, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, incurred and all or any portion of such obligations or liabilities that are paid, paid to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Pledgee as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and (ii) all obligations or liabilities of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the ------------------------ Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Assignor now or hereafter existing under or arising out of or in connection with the BondsSubsidiary Guaranty, Indenture and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCAssignor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Assignee or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Assignor now or hereafter existing under this Agreement (all such obligations of GrantorAssignor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand demand, or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section §362(a)), of all obligations and liabilities of every nature of PFC now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Obligations and all amendments, renewals or extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Pledgor, would accrue on such obligations), fees, expenses, indemnities indemnities, or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created created, or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer transfer, or otherwise (all such obligations and liabilities being the "“Underlying Debt"”), and all payment obligations of every nature of Grantor each Pledgor now or hereafter existing under Section 14 of this Agreement (all such obligations of GrantorPledgors, together with the Underlying Debt, being the "“Secured Obligations"”).

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a))otherwise, of all Secured Obligations of each Grantor. Secured Obligations means: (a) with respect to Company, all obligations and liabilities of every nature of PFC Company now or hereafter existing under or arising out of or in connection with the BondsPurchase Agreement and the other Note Documents; and (b) with respect to each Grantor and Additional Grantor, Indenture all obligations and Mortgage Documents liabilities of every nature of such Grantor now or hereafter existing under or arising out of or in connection with the Purchase Agreement, Guaranty, Parent Guaranty and the other Note Documents; in each case together with all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations)interest, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Grantors now or hereafter existing under this Agreement (all such obligations including, without limitation, interest and other amounts that, but for the filing of a petition in bankruptcy with respect to Company or any other Grantor, together with would accrue on such obligations, whether or not a claim is allowed against Company or such Grantor for such amounts in the Underlying Debt, being the "Secured Obligations"related bankruptcy proceeding).

Security for Obligations. This Agreement secures, and the ------------------------ Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section (S) 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Subsidiary Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the ------------------------ Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC each Pledgor now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement, Indenture the Guaranty and Mortgage Documents the other Loan Documents, and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCeach Pledgor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, determined or undetermined, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Agent or any Holder Bank as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor each Pledgor now or hereafter existing under this Agreement and under any other Loan Document heretofore, now or hereafter delivered by each Pledgor to Agent, and all extensions, renewals, restatements, supplements, amendments or modifications thereof or thereto (all such obligations of Grantoreach Pledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Grantors now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Grantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of any Grantor now or hereafter existing under this Agreement (all such obligations of GrantorGrantors, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand demand, or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section §362(a)), of all obligations and liabilities of every nature of PFC now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Obligations and all amendments, renewals or extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Pledgor, would accrue on such obligations), fees, expenses, indemnities indemnities, or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created created, or incurredincurred (but in each case (for purposes of determinations on and after the occurrence of a Trigger Event) subject to the limitations on the principal amount of Obligations set forth in the definition of “Qualified Obligations”), and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Collateral Agent or any Holder Creditor as a preference, fraudulent transfer transfer, or otherwise (all such obligations and liabilities being the "“Underlying Debt"”), and all payment obligations of every nature of Grantor the Company or any other Pledgor now or hereafter existing under Section 13 of this Agreement (all such obligations of GrantorPledgors, together with the Underlying Debt, being the "“Secured Obligations"”).

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and ------------------------ the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Assignor now or hereafter existing under or arising out of or in connection with the BondsSubsidiary Guaranty, Indenture and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCAssignor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Assignee or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Assignor now or hereafter existing under this Agreement (all such obligations of GrantorAssignor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the ------------------------ Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the BondsSubsidiary Guaranty, Indenture and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement (a) The Lien and security interest granted in Section 2(a) of this Agreement, secures, and the Pledged Collateral is collateral security for, the prompt payment or and performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand declaration or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a), or any successor provision thereto), of all obligations and liabilities of every nature of PFC now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereofCredit Agreement Obligations, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy or not jointly owed with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntaryothers, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, incurred and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Collateral Agent as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtCredit Agreement Indebtedness"), and all obligations or liabilities of every nature of Grantor Pledgor to Agent and Lenders now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying DebtCredit Agreement Indebtedness, being the "Credit Agreement Secured Obligations"). (b) The Lien and security interest granted in Section 2(b) of this Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment and performance in full when due, whether at stated maturity, by acceleration, declaration or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a), or any successor provision thereto), of the Interest Rate Obligations, whether now existing or hereafter arising, voluntary or involuntary, whether or not jointly owed with others, direct or indirect, absolute or contingent, liquidated or unliquidated, and whether or not from time to time decreased or extinguished and later increased, created or incurred and all or any portion of such obligations that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Collateral Agent as a preference, fraudulent transfer or otherwise (all such obligations being the "Interest Rate Indebtedness"), and all obligations or liabilities of every nature of Pledgor to Interest Rate Exchangers now or hereafter existing under this Agreement (all such obligations of Pledgor, together with the Interest Rate Indebtedness, being the "Interest Rate Secured Obligations"). (c) The Lien and security interest granted in Section 2(c) of this Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment and performance in full when due, whether at stated maturity, by acceleration, declaration or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a), or any successor provision thereto), of the Subordinated Indenture Obligations, whether now existing or hereafter arising, voluntary or involuntary, whether or not jointly owed with others, direct or indirect, absolute or contingent, liquidated or unliquidated, and whether or not from time to time decreased or extinguished and later increased, created or incurred and all or any portion of such obligations that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Collateral Agent as a preference, fraudulent transfer or otherwise (all such obligations being the "Subordinated Indenture Indebtedness"), and all obligations or liabilities of every nature of Pledgor to the Subordinated Indenture Trustee and the holders of the Subordinated Notes now or hereafter existing under this Agreement (all such obligations of Pledgor, together with the Indebtedness, being the "Subordinated Indenture Secured Obligations"). (d) The Lien and security interest granted in Section 2(d) of this Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment and performance in full when due, (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a), or any successor provision thereto), of all amounts owed to Collateral Agent under this Agreement, whether now existing or hereafter arising, voluntary or involuntary, whether or not jointly owed with others, direct or indirect, absolute or contingent, liquidated or unliquidated, and whether or not from time to time decreased or extinguished and later increased, created or incurred and all or any portion of such obligations that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Collateral Agent as a preference, fraudulent transfer or otherwise (all such obligations, together with the Credit Agreement Indebtedness, Interest Rate Indebtedness and the Subordinated Indenture Indebtedness being the "Indebtedness"), and all obligations or liabilities of every nature of Pledgor to Collateral Agent on its own behalf now or hereafter existing under this Agreement (all such obligations of Pledgor, together with the Indebtedness, the Credit Agreement Secured Obligations, the Interest Rate Secured Obligations, and the Subordinated Indenture Secured Obligations being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents the Notes and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when duedue of all obligations and liabilities of every nature of Grantor, whether at stated maturitynow or hereafter existing, by required prepaymentunder or arising out of or in connection with the Notes, declarationthe Note Purchase Agreement, acceleration, demand or otherwise the Company Deed of Trust and the other Basic Documents (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section § 362(a)), of all obligations and liabilities of every nature of PFC Grantors now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Notes and all amendments, extensions or renewals thereof, whether for principalincluding, premiumwithout limitation, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy any obligation incurred by Grantors with respect to PFC, would accrue on such obligations), the execution of any Assigned Agreement executed as provided hereunder and fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder holder of Notes as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "“Underlying Debt"”), and all obligations of every nature of Grantor Grantors now or hereafter existing under this Agreement (all such obligations of GrantorGrantors, together with the Underlying Debt, being the "“Secured Obligations"”).”

Security for Obligations. This Agreement secures, and The security interest created hereby in the Collateral is constitutes continuing collateral security for, for all of the prompt payment or performance in full when duefollowing obligations, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC now existing or hereafter existing under or arising out of or in connection with the Bondsincurred, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurredextinguished, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder the Lender as a preference, fraudulent transfer or otherwise (all as such obligations may be amended, supplemented, converted, extended or modified from time to time or hereafter incurred (collectively, the “Obligations”): (a) the prompt payment by each Grantor, as and liabilities being when due and payable (by scheduled maturity, required prepayment, required redemption, acceleration, demand or otherwise), of all amounts from time to time owing by it in respect of the "Underlying Debt"Purchase Agreement, the Note, and the other Documents, including, without limitation, (i) all principal of and interest on the Note (including, without limitation, all interest that accrues after the commencement of any Insolvency Proceeding of any Grantor, whether or not the payment of such interest is unenforceable or is not allowable due to the existence of such Insolvency Proceeding), and (ii) all fees, commissions, expense reimbursements, indemnifications and all other amounts due or to become due under any of the Documents; and (b) the due performance and observance by each Grantor of all of its other obligations from time to time existing in respect of every nature any of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being Documents for so long as the "Secured Obligations")Note is outstanding.

Security for Obligations. This Agreement secures, and the ------------------------ Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Party, Syndication Agent or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the BondsInvestment Agreement and the Subordinated Note Agreement, Indenture and Mortgage Documents and in each case together with all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations, whether or not a claim is allowed against Pledgor for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Assignor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCAssignor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Assignee or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Assignor now or hereafter existing under this Agreement (all such obligations of GrantorAssignor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)ss.362(a) or similar provisions of foreign law), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments due for early termination of Interest Rate Agreements in accordance with the terms of the applicable Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, . whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured Obligations").

Security for Obligations. This Agreement secures, secures and the Collateral is collateral security for, for the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand acceleration or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), sec.362(a) whether or not a claim is allowed therefor) of all obligations and liabilities of every nature of PFC the Debtor to the Secured Party, now or hereafter existing existing, including, without limitation, the obligations of the Debtor under the Note, any other promissory note, document or arising out of or in connection with the Bonds, Indenture and Mortgage Documents instrument delivered pursuant thereto and all amendments, extensions or renewals thereof, and in any case whether for principal, premium, if any, interest (including including, without limitation limitation, interest that, but for the filing of a petition in bankruptcy with respect to PFCthe Debtor, would accrue on such obligations), attorneys' fees, expenses, indemnities expenses or otherwise, whether now existing or hereafter arising, voluntary or involuntary, whether or not jointly owed with others, direct or indirect, (including participations or any interest of Secured Party in indebtedness of the Debtor to others), absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, incurred and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from the Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and including, without limitation, all obligations of every nature of Grantor the Debtor now or hereafter existing under this Agreement (all such obligations of Grantorthe Debtor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including including, without limitation limitation, interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand demand, or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section § 362(a)), of all obligations and liabilities of every nature of PFC Borrower now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, renewals or extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Pledgor, would accrue on such obligations), fees, expenses, indemnities indemnities, or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created created, or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer transfer, or otherwise and of each Pledgor now or hereafter existing under or arising out of or in connection with the Guaranty (all such obligations and liabilities being the "“Underlying Debt"”), and all obligations of every nature of Grantor each Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgors, together with the Underlying Debt, being the "“Secured Obligations"”).

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section ss. 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC each Pledgor now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement and the other Loan Documents, Indenture and Mortgage Documents and together with all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Pledgor, would accrue on such obligations, whether or not a claim is allowed against such Pledgor for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor each Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgors being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, ------------------------ and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Party, Syndication Agent, Documentation Agent or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligationsobligations whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Company now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement, Indenture and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Assignee or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Assignor now or hereafter existing under this Agreement (all such obligations of GrantorAssignor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise taking into account any applicable grace, notice or cure period (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments due for early termination of Interest Rate Agreements in accordance with the terms of the applicable Interest Rate Agreement, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the ------------------------ Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Borrower now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereofFinancing Documents, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCBorrower, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Collateral Agent or any Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement securesand the pledges hereunder secure, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor to the Agents, Lenders and Interest Rate Exchangers now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Agent, Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature nature, of PFC each Grantor now or hereafter existing under or arising out of or in connection with the Bondsany Financing Agreement, Indenture and Mortgage Documents any other Loan Document or any Hedge Agreement and all amendments, extensions or renewals thereofof any of the foregoing, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Grantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Hedge Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Collateral Agent or any Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of each Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, foregoing being referred to herein collectively as the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Debtor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Notes and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCDebtor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Debtor now or hereafter existing under this Agreement (all such obligations of GrantorDebtor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the ------------------------ Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section (S) 362(a)), of all obligations and liabilities of every nature of PFC Grantors now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including including, without limitation limitation, interest that, but for the filing of a petition in bankruptcy with respect to PFCany Borrower, would accrue on such obligations, whether or not a claim is allowed against such Borrower for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Hedging Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Collateral Agent or any Secured Party or any Holder Hedging Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Grantors now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantors being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC such Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents the Notes and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCsuch Grantor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), ) and all obligations of every nature of Grantor Grantors now or hereafter existing under this Agreement (all such obligations of GrantorGrantors, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Grantors now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantors being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a'SS'362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the BondsTerm Loans under the Amended Credit Agreement and the Term Loan Notes, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Agent or any Holder Term Loan Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Loan Agreement and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part party of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment promptpayment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section §362(a)) or any similar or comparable laws of jurisdictions outside the United States), of all obligations and liabilities of every nature of PFC NSE or any of its affiliates now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Obligations (as defined in the Collateral Agency and Mortgage Documents Intercreditor Agreement) and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCNSE or any of its affiliates, would accrue on such obligationsObligations, whether or not a claim is allowed against NSE and its affiliates for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities Obligations that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Benefitted Party as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor NSE or its affiliates now or hereafter existing under this Agreement any Senior Secured Loan Document (all such obligations of Grantor, together with the Underlying Debt, NSE and its affiliates being the "“Secured Obligations"”).

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Party, or any Holder Lender or any Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the ------------------------ Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Party, Syndication Agent or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Facilities Agreement and Mortgage Documents any other Finance Document (and all amendments, extensions or renewals thereof), whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor or any other Obligor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement, Indenture and Mortgage the other Loan Documents and the Interest Rate Agreements entered into with any Interest Rate Exchanger, and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or any Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, secures and the Collateral is collateral security for, for the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand acceleration or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), ) whether or not a claim is allowed therefor) of all obligations and liabilities of every nature of PFC the Debtor to the Secured Party, now or hereafter existing existing, including, without limitation, the obligations of the Debtor under the Note, any other promissory note, document or arising out of or in connection with the Bonds, Indenture and Mortgage Documents instrument delivered pursuant thereto and all amendments, extensions or renewals thereof, and in any case whether for principal, premium, if any, interest (including without limitation limitation, interest that, but for the filing of a petition in bankruptcy with respect to PFCthe Debtor, would accrue on such obligations), attorneys' fees, expenses, indemnities expenses or otherwise, whether now existing or hereafter arising, voluntary or involuntary, whether or not jointly owed with others, direct or indirect, (including participations or any interest of Secured Party in indebtedness of the Debtor to others), absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, incurred and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from the Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and including, without limitation, all obligations of every nature of Grantor the Debtor now or hereafter existing under this Agreement (all such obligations of Grantorthe Debtor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of of, all obligations and liabilities of every nature of PFC any Obligor now or hereafter existing under or arising out of or in connection with the BondsNote Purchase Agreement and the other Basic Documents, Indenture and Mortgage Documents and in each case together with all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations, whether or not a claim is allowed against Pledgor for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party the Lender or any Holder other Beneficiary as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Obligors being the "“Secured Obligations"”).

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or any Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Pledge Agreement secures, and secures the Collateral is collateral security for, the prompt indefeasible payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), and performance of all obligations of Grantor and liabilities of every nature of PFC each Subsidiary now or hereafter existing under the Securities Purchase Agreement, the Notes and each other Transaction Document, whether for principal of and interest on the Notes (including, without limitation, all interest that accrues after the commencement of any bankruptcy proceeding of the Grantor, whether or not the payment of such interest is unenforceable or is not allowable due to the existence of such bankruptcy proceeding), proceeds, payments, costs, fees, expenses or otherwise, and all other obligations of Grantor and each Subsidiary to Buyer pursuant to any of the Transaction Documents, howsoever created, arising out of or evidenced, whether in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereofSecurities Purchase Agreement, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, primary or secondary, fixed or absolute or contingent, liquidated joint or unliquidatedseveral, whether absolute or not jointly owed with otherscontingent or now or hereinafter existing or due or to become due, and whether including all renewals, rearrangements, increases, extensions for any period, substitutions, modifications, amendments or not from time to time decreased supplements in whole or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any in part of such payment is avoided any of the above loan documents, agreements or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")obligations, and all obligations of every nature of Grantor and each Subsidiary, howsoever created, arising or evidenced, whether direct or indirect, primary or secondary, fixed or absolute or contingent, joint or several, or now or hereafter existing under this Pledge Agreement and each other Transaction Document to which it is or may become a party (all such obligations of Grantor, together with the Underlying Debt, Grantor and each Subsidiary being the "“Secured Obligations"”).

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(aSection362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), ) and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").every

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand demand, or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section § 362(a)), of all obligations and liabilities of every nature of PFC Borrower now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, renewals or extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Pledgor, would accrue on such obligations), fees, expenses, indemnities indemnities, or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created created, or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer transfer, or otherwise and of each Pledgor now or hereafter existing under or arising out of or in connection with the Guaranty (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor each Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgors, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Company now or hereafter existing under or arising out of or in connection with the BondsInvestment Agreement and the Subordinated Note Agreement, Indenture and Mortgage Documents and in each case together with all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Company and Pledgor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Assignor now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement, Indenture Guaranty and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCAssignor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Assignee or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor Assignor now or hereafter existing under this Agreement (all such obligations of GrantorAssignor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, ------------------------ and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a(S)362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany and/or Grantor, would accrue on such obligations, whether or not a claim is allowed against Company and/or Grantor for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Party, Syndication Agent, Documentation Agent, any Lender or any Holder Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section §362(a)), of all Secured Obligations of Issuer. “Secured Obligations” means all obligations and liabilities of every nature of PFC Issuer to Secured Party and Note Holders now or hereafter existing under or arising out of or in connection with the BondsNote Purchase Agreement and the other Note Documents, Indenture and Mortgage Documents and in each case together with all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCIssuer, would accrue on such obligations, whether or not a claim is allowed against Issuer for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Note Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations")Agreement.

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC each Grantor (whether as a borrower or guarantor) now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents the Notes and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including including, without limitation limitation, interest that, but for the filing of a petition in bankruptcy with respect to PFC, a Grantor would accrue on such obligations, whether or not a claim is allowed against such Grantor for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of each Grantor now or hereafter existing under this Agreement (all such obligations of GrantorGrantors, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and The security interest created hereby in the Pledged Collateral is constitutes continuing collateral security forfor all of the following obligations, whether now existing or hereafter incurred (collectively, the prompt payment “Obligations”), all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint or performance in full when several) due or to become due, whether at stated maturityor that are now or may be hereafter contracted or acquired, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a))owing to, of Pledgor to the Pledgees, including, without limitation, all obligations under this Agreement, the Debentures and liabilities of every nature of PFC any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith, in each case, whether now or hereafter existing under or arising out of or in connection with the Bondsexisting, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder of the Pledgees as a preference, fraudulent transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from time to time. Without limiting the generality of the foregoing, the term “Obligations” shall include, without limitation: (i) principal of, and interest on the Debentures and the loans extended pursuant thereto; (ii) any and all such other fees, indemnities, costs, obligations and liabilities being of the "Underlying Debt")Pledgor from time to time under or in connection with this Agreement, the Debentures, and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith; and (iii) all amounts (including but not limited to post-petition interest) in respect of the foregoing that would be payable but for the fact that the obligations to pay such amounts are unenforceable or not allowable due to the existence of every nature of Grantor now a bankruptcy, reorganization or hereafter existing under this Agreement (all such obligations of Grantor, together with similar proceeding involving the Underlying Debt, being the "Secured Obligations")Pledgor.

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents the Notes and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), ) and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations), reimbursement for amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or any Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations 348 of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, secures and the Collateral is collateral security for, for the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand declaration or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), ) of all obligations and liabilities of every nature of PFC Holding now or hereafter existing under the Credit Agreement, including, without limitation, all Obligations under the Credit Agreement and any promissory note or arising out of other document or in connection with the Bonds, Indenture and Mortgage Documents instrument delivered pursuant thereto and all amendments, extensions or renewals thereofthereof or hereof, whether for principal, premium, if any, interest (including including, without limitation limitation, interest that, but for the filing of a petition in bankruptcy with respect to PFCthe Holding or Borrower, would accrue on such obligations, whether or not a claim is allowed against Holding or Borrower in any such bankruptcy proceeding), fees, expenses, indemnities expenses or otherwise, whether now existing or hereafter arising, voluntary or involuntary, whether or not jointly owed with others, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, incurred and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Collateral Agent as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Holding now or hereafter existing under this Agreement (all such obligations of GrantorHolding, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a'SS'362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents Guaranty and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Agent or any Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. (a) This Agreement secures, and the Collateral assigned by Grantor is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including without limitation the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all Secured Obligations of Grantor. “Secured Obligations” means all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Loan Agreement and Mortgage Documents and the other Finance Documents; together with all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations, whether or not a claim is allowed against Grantor for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations")Agreement.

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").obligations

Security for Obligations. This Agreement secures, (a) To secure the full and the Collateral is collateral security for, the prompt punctual payment or and performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations of each Borrower now or hereafter existing with respect to the Mezzanine Loan, whether for principal, interest, fees, expenses or otherwise, and liabilities all obligations of every nature of PFC each Borrower now or hereafter existing under the Mezzanine Loan Agreement, the Mezzanine Notes, the Pledges, this Agreement and all other Mezzanine Loan Documents (all such obligations, collectively, the "Obligations"), each Borrower hereby grants to Lender a first priority continuing security interest in and to the following property of such Borrower, whether now owned or existing or hereafter acquired or arising out ad regardless of or in connection with where located (all of the Bondssame, Indenture and Mortgage Documents collectively, the "Account Collateral"): (i) the Accounts and all amendmentscash, extensions or renewals thereofchecks, whether for principaldrafts, premiumletters of credit, certificates and instruments, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased deposited or extinguished and later increasedheld in the Accounts, created including, without limitation, all deposits or incurred, wire transfers made to the Accounts; (ii) any and all Permitted Investments; (iii) all interest, dividends, cash, instruments, investment property and other property from time to time received, receivable or otherwise payable in respect of, or in exchange for, any portion or all of such obligations or liabilities that are paid, the foregoing; and (iv) to the extent not covered by clauses (i), (ii) or (iii) above, all or any part "proceeds" (as defined under the Uniform Commercial Code as in effect in the State of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise New York (all such obligations and liabilities being the "Underlying DebtUCC")) of any or all of the foregoing. (b) Lender and Agent, as agent for Lender, shall have with respect to the Account Collateral, in addition to the rights and remedies herein set forth, all obligations of every nature of Grantor now or hereafter existing the rights and remedies available to a secured party under this Agreement (all the UCC, as if such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations")rights and remedies were fully set forth herein.

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, (i) the prompt payment or and performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand acceleration or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code and the operation of Sections 502(b) and 506(b) of the Bankruptcy Code or any successor provision thereto, and all interest accruing on the Obligations after the filing of a petition by or against the Pledgor or any of its Subsidiaries under the Bankruptcy Code, 11 U.S.C. Section 362(a)in accordance with and at the rate (including the Default Rate) specified in the Bridge Loan Agreement whether or not the claim for such interest is allowed as a claim after such filing in any proceeding under the Bankruptcy Code), of all obligations and liabilities of every nature of PFC Pledgor under the Loan Documents, whether now existing or hereafter existing under or arising out of or in connection with the Bondsarising, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFC, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, whether or not jointly owed with others, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, incurred and all or any portion of such obligations or liabilities that are paid, paid to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), ) and (ii) all obligations or liabilities of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement, Indenture and Mortgage the other Loan Documents and the Interest Rate Agreements entered into with any Interest Rate Exchanger, and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or any Interest Rate Exchanger as a preference, fraudulent (Credit Agreement) 290 transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Immediately upon occurrence of the Grant Effectiveness Condition, this Agreement securesshall secure, and the Pledged Collateral is will be collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(ass.362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the BondsSubordinated Loan Agreement and the other Loan Documents, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepaymentacceleration or otherwise, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), ) of all obligations and liabilities of every nature of PFC now or hereafter existing the Grantor under or arising out (a) the Senior Note Indenture and the Senior Notes, (b) the New Credit Facility, and (c) any instrument governing other indebtedness of or the Grantor which is then secured by the Collateral in connection accordance with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereofterms of the Intercreditor Agreement, whether for principal, premium, if any, interest (including including, without limitation limitation, interest that, but for the filing of a petition in bankruptcy with respect to PFCthe Grantor, would accrue on such obligations), fees, expenses, indemnities expenses or otherwise, whether now existing or hereafter arising, voluntary or involuntary, whether or not jointly owed with others, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, incurred and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder the Collateral Agent as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of the Grantor now or hereafter existing under this Agreement (all such obligations of the Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCCompany, would accrue on such obligations, whether or not a claim is allowed against Company for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Grantors now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantors being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement, Indenture the Guaranty and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including including, without limitation limitation, interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), reimbursement of amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").every

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Grantor and of Borrower now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party Agent or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor and of Borrower now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section article 362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under or arising out of or in connection with the Bonds, Indenture DIP Credit Agreement and Mortgage the other Loan Documents and all amendments, extensions or renewals thereof, whether for principal, premiuminterest, if any, interest (including without limitation interest that, but for the filing reimbursement of a petition in bankruptcy with respect to PFC, would accrue on such obligations)amounts drawn under Letters of Credit, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgor, together with the Underlying Debt, being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand demand, or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section SECTION 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), of all obligations and liabilities of every nature of PFC Borrower now or hereafter existing under or arising out of or in connection with the Bonds, Indenture Credit Agreement and Mortgage the other Loan Documents and all amendments, renewals or extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCany Pledgor, would accrue on such obligations), fees, expenses, indemnities indemnities, or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created created, or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender as a preference, fraudulent transfer transfer, or otherwise and of each Pledgor now or hereafter existing under or arising out of or in connection with the Guaranty, (all such obligations and liabilities being the "Underlying DebtUNDERLYING DEBT"), and all obligations of every nature of Grantor each Pledgor now or hereafter existing under this Agreement (all such obligations of GrantorPledgors, together with the Underlying Debt, being the "Secured ObligationsSECURED OBLIGATIONS").

Security for Obligations. This Agreement secures, and the Pledged Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section §362(a)), of all obligations and liabilities of every nature of PFC Pledgor now or hereafter existing under this Agreement or arising out of or in connection with the Bonds, Indenture and Mortgage Documents and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest Parent Guaranty (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCPledgor, would accrue on such obligations, whether or not a claim is allowed against Pledgor for such interest in the related bankruptcy proceeding), fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Noteholder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt")otherwise, and all obligations of every nature of Grantor Pledgor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Pledgor being the "“Secured Obligations"”); provided, however, upon the exercise by Secured Party of the voting rights granted to Secured Party pursuant to Section 8(c), the Secured Obligations will not be increased by any subsequent increase in the principal balance of the Notes or any new indebtedness for borrowed money.

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a'SS'362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with (i) the BondsAmended Credit Agreement, the Notes and all other Loan Documents, (ii) the Existing Senior Note Indenture and Mortgage Documents the Existing Senior Notes, and (iii) the Lender Interest Rate Agreements, and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations), payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Agent or any Secured Party or any Holder as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, Grantor being the "Secured Obligations").

Security for Obligations. This Agreement secures, and the Collateral is collateral security for, the prompt payment or performance in full when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including the payment of amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section ss. 362(a)), of all obligations and liabilities of every nature of PFC Grantor now or hereafter existing under or arising out of or in connection with the BondsCredit Agreement, Indenture and Mortgage the other Loan Documents and the Lender Interest Rate Agreements and all amendments, extensions or renewals thereof, whether for principal, premium, if any, interest (including without limitation interest that, but for the filing of a petition in bankruptcy with respect to PFCGrantor, would accrue on such obligations, whether or not a claim is allowed against Grantor for such interest in the related bankruptcy proceeding), reimbursement of amounts drawn under Letters of Credit, payments for early termination of Lender Interest Rate Agreements, fees, expenses, indemnities or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from Secured Party or any Holder Lender or Interest Rate Exchanger as a preference, fraudulent transfer or otherwise (all such obligations and liabilities being the "Underlying Debt"), and all obligations of every nature of Grantor now or hereafter existing under this Agreement (all such obligations of Grantor, together with the Underlying Debt, being the "Secured Obligations").