Pledged Property definition
Examples of Pledged Property in a sentence
No participations in the Pledged Property have been granted by Pledgor to any third party.
The foregoing disposition(s) must be for cash or on credit or for future delivery without assumption of any credit risk by Lender, with Lender having the right to purchase all or any part of said Pledged Property so sold at any such sale or sales, public or private, free of any right or equity of redemption in Pledgor, which right or equity is hereby expressly waived or released by Pledgor to the fullest extent permitted by applicable laws.
Notwithstanding the foregoing assignment, unless and until the foreclosure of the Pledged Property by Lender or other transfer of the Pledged Property from Pledgor to Lender, which transfer is accepted by Lender, Pledgor, alone, and not Lender, shall be obligated to fulfill all of the monetary and non-monetary obligations of the lender to Obligor under the Pledged Loan Agreement, Pledged Note, Pledged Security Agreement, and Pledged Loan Documents.
Any obligation of Lender for reasonable care for the Pledged Property in Lender’s possession shall be limited to the same degree of care which Lender uses for similar property owned by Lender, and, unless Pledgor has committed an Event of Default under the Loan Agreement, Lender shall promptly notify Pledgor of any assignments, dispositions, enforcement actions or other actions of any kind or nature taken by Lender with respect to any Pledged Property.
Pledgor agrees that at any time and from time to time upon the written request of Lender, Pledgor will execute and deliver such further documents in form reasonably satisfactory to counsel for Lender, and will take or cause to be taken such further acts as Lender may reasonably request in order to effect the purposes of this Pledge and perfect or continue the perfection of the security interest in the Pledged Property granted to Lender hereunder.