Collateral Pledged Sample Clauses

Collateral Pledged. For valuable consideration received to the full satisfaction of the Pledgor, the Pledgor hereby pledges, assigns and grants a security interest in and sets over to the Bank the entire interest (beneficial, equitable or otherwise) of the Pledgor in (i) the outstanding shares of stock of the Borrower evidenced by certificates for such shares delivered by the Pledgor to the Bank and (ii) all options and rights to purchase and all rights to profits and distributions from the Borrower by virtue of such shares of stock, and any cash or other securities derived therefrom, substituted therefor, or otherwise subjected to the lien hereof, pursuant to any provision hereof, together with all proceeds thereof (all of which shares of stock, partnership interests, options, cash, securities and proceeds are herein called the "Collateral"). Certificates, and all other documentation of the Pledgor evidencing ownership of such shares of stock of the Borrower pledged under this Agreement and any evidence of options to purchase comprised in the Collateral, shall be delivered to the Bank, accompanied by assignments (with signatures guaranteed) sufficient to transfer the title thereto to the Bank. The 43 Bank is hereby authorized to hold any and all of the Collateral delivered to it in its name or at its option to cause such items to be transferred to and held in the name of its nominee(s). The Collateral pledged, assigned and set over under this Pledge Agreement secures the following: (a) The payment by the Borrower of the principal, interest and any other amounts owing under the promissory note entered into by the Borrower pursuant to the Loan Agreement (the "Note"); (b) The payment of any and all amounts due or which hereafter may become due to the Bank pursuant to the Loan Agreement, the other documents to be entered into by the Borrower pursuant to such Agreements (collectively with the Note and this Agreement, referred to as the "Documents", and each as a "Document"), whether from the Borrower or any other party thereto; (c) The payment by the Borrower of all costs and expenses incurred in the collection of the Note and in the enforcement of the rights of the Bank hereunder and under any other Document; and (d) The performance by the Borrower of all of its respective obligations, covenants and agreements under any Document.