A pledge agreement given by a mezzanine borrower to a mezzanine lender to secure the borrower's obligations under a mezzanine loan. This Standard Document contains standard representations, warranties, and covenants relating to the pledgor (the mezzanine borrower), the pledged entity (the mortgage borrower), and the pledged collateral (the equity interests in the mortgage borrower). This Standard Document also contains standard provisions governing the designation of the pledged collateral, lien perfection, and the rights and remedies of the secured party. This Standard Document has integrated notes with important explanations and drafting tips.