Collateral Agreement. Each of Borrower and the Corporation agrees that ---------------------- the parties hereto may supplement, amend or superseded this Agreement with a collateral agreement among the Corporation, Borrower and a third party bank, as trustee, pursuant to which such third party bank shall accept and maintain possession of the Pledged Stock Collateral until such time as the Secured Obligations shall have been satisfied.
Appears in 5 contracts
Samples: Pledge and Security Agreement (Penn Octane Corp), Pledge and Security Agreement (Penn Octane Corp), Pledge and Security Agreement (Penn Octane Corp)
Collateral Agreement. Each of Borrower and the Corporation agrees that ---------------------- -------------------- the parties hereto may supplement, amend or superseded supersede this Agreement with a collateral agreement among the Corporation, Borrower and a third party bank, as trustee, pursuant to which such third party bank shall accept and maintain possession of the Pledged Stock Collateral until such time as the Secured Obligations shall have been satisfied.
Appears in 2 contracts
Samples: Promissory Note (Penn Octane Corp), Promissory Note (Penn Octane Corp)
Collateral Agreement. Each of Borrower and the Corporation agrees that ---------------------- the parties hereto may supplement, amend or superseded supersede this Agreement with a collateral agreement among the Corporation, Borrower and a third party bank, as trustee, pursuant to which such third party bank shall accept and maintain possession of the Pledged Stock Collateral until such time as the Secured Obligations shall have been satisfied.
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