Account Pledge Agreement Definition

Although the borrower retains the discretion on how the pledged funds are invested, the bank may impose restrictions to ensure that the mortgaged assets are not invested in financial instruments considered risky by the bank. These risky investments may include options or derivatives. In addition, assets from an individual pension account (IRA), 401(k) or other pension accounts cannot be mortgaged as assets for a loan or mortgage. For the avoidance of doubt, the granting of a guarantee shall not be considered as an assignment of intellectual property rights belonging to the concessionaires. In addition, for the avoidance of doubt (a), it is understood and agreed that neither the borrower nor any subsidiary is required to obtain (i) declarations of filing or waiver of lease in relation to a place where the inventory is stored, or (ii) the United States Patent and Trademark Office (or a similar national or foreign agency or office) an interest in the security of a patent or trademark and (b) none A subsidiary may be mortgaged unless that subsidiary is a domestic subsidiary or a first-tier foreign subsidiary. 8.10. Benefit of the Agreement. The terms and provisions of this Security Agreement are binding on the dealers, administrative agents and insured parties and their respective assigns and recipients (including all related persons as debtors) and apply to your benefits, except that the licensors do not have the right to assign their rights or obligations under this Security Agreement. g or any interest in it. without the prior written consent of the administrative officer. .

Comments are closed.