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2 <br /> "Loan Agreement" means . <br /> <br /> "Loan Documents" means, collectively, the Note, the Loan Agreement, this <br />Agreement, unconditional guaranty and all other documents and instruments entered into <br />in connection with the Loan. <br /> <br /> "Note" has the meaning described in the Recitals above. <br /> <br /> "Obligations" means all of the obligations of Pledgor under the Loan Documents. <br /> <br /> "Pledged Interests" means all of the membership units or membership interests <br />of Pledgor in and to Dignicare Properties I, LLC, a Minnesota Limited Liability <br />Company, as supplemented and further identified in Section 2 hereof. <br /> <br /> "Proceeds" means all "proceeds" as such term is defined in Section 9-102(a)(64) <br />of the Code and, in any event, shall include, without limitation, all income from the <br />Pledged Interests, collections thereon or distributions with respect thereto. <br /> <br /> Terms used herein but not otherwise defined herein shall have the respective <br />meanings ascribed to them in the Loan Agreement. <br /> <br /> 2. Pledge; Grant of Security Interest. Pledgor hereby pledges and grants <br />to Lender, as collateral security for the prompt and complete payment and performance <br />when due (whether at the stated maturity, by acceleration or otherwise) of the <br />Obligations, a first priority security interest in all of Pledgor's right, title and interest to <br />the following (collectively, the "Collateral"): <br /> <br /> (a) All of the Pledged Interests of Pledgor in and to the Company, and all <br />additional membership units or membership interests or other equity interest in the <br />Company, and other rights hereafter acquired by Pledgor in respect of such membership <br />units or membership interests, whether in connection with any <br />capital increase, recapitalization, reclassification, or reorganization of the Company or <br />otherwise. <br /> <br /> (b) All certificates, instruments, or other writings representing or evidencing <br />such interests, and all accounts and general intangibles arising out of, or in connection <br />with such interests. <br /> <br /> (c) Any and all moneys or property due and to become due to Pledgor now or <br />in the future in respect Pledged Interests, or to which Pledgor may now or in the future be <br />entitled to in his capacity as the holder of a membership unit or interest in the Company, <br />whether by way of a dividend, distribution, return of capital, or otherwise. <br /> <br /> (d) All other claims which Pledgor now has or may in the future acquire in his <br />capacity as the owner of a membership unit or interest in the Company or its properties. <br /> <br />66