Creation and Description of Security Interest. In consideration of the transfer of the Shares to Pledgor under the Option Agreement, Pledgor, pursuant to the California Commercial Code, hereby pledges all of such Shares (herein sometimes referred to as the "Collateral") represented by certificate number ______, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the Option, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.
Creation and Description of Security Interest. Pledgor hereby grants a lien on and pledges all of the Shares (herein sometimes referred to as the "Collateral") represented by certificate number 9, duly endorsed in blank or with executable stock powers in form and substance satisfactory to Pledgee, and herewith delivers said certificate to the Secretary of Pledgee (the "Escrow Agent"), who shall hold said certificate subject to the terms and conditions of this Pledge Agreement. The pledged stock shall be held by the Escrow Agent as security for the repayment of the Note, and any costs and expenses incurred in the enforcement or attempted enforcement of the Note, and any extensions or renewals thereof, and the Escrow Agent shall not encumber, sell or otherwise dispose of such Shares except in accordance with the provisions of this Pledge Agreement.
Creation and Description of Security Interest. In consideration of the transfer of the Shares to Pledgor under the Agreement, Pledgor, pursuant to the California Uniform Commercial Code, hereby pledges all of such Shares (herein sometimes referred to as the "Collateral") represented by certificate number ______, and herewith delivers said certificate to Pledgeholder, who shall hold said certificate on behalf of Pledgee subject to the terms and conditions of this Security Agreement. The Shares (together with an executed blank stock assignment or assignments) shall be held by Pledgeholder on behalf of Pledgee as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the Agreement, and Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.
Creation and Description of Security Interest. In consideration of the transfer of the Shares to Pledgor under the Purchase Agreement, Pledgor, pursuant to the Connecticut Uniform Commercial Code, hereby pledges all of such Shares (herein sometimes referred to as the "Collateral") represented by certificate number ______, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Pledgee, who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock shall be held by the Pledgee as security for the repayment of the Note, and the Pledgee shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.
Creation and Description of Security Interest. In consideration of the transfer of the Shares to Pledgor under the Restricted Stock Purchase Agreement, Pledgor, pursuant to the California Commercial Code, hereby pledges all of such Shares (herein sometimes referred to as the "Collateral") represented by certificate number ______, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.
Creation and Description of Security Interest. In order to secure Pledgor's obligation to pay the Note in full, Pledgor, pursuant to the Commercial Code of the State of California, hereby pledges all of the Stock, including those shares purchased with cash (herein sometimes referred to as the "Collateral") represented by certificate number _______. The pledged Stock (together with an executed blank stock assignment for use in transferring all or a portion of the Stock to Pledgee if, as and when required pursuant to this Security Agreement) shall be delivered to the Secretary of Pledgee, or such other person designated by the Company ("Escrow Agent") to be held pursuant to an Escrow Agreement in the form of Exhibit D to the Purchase Agreement (the "Escrow Agreement") as security for the repayment of the Note, and any extensions or renewals thereof.
Creation and Description of Security Interest. In consideration of the --------------------------------------------- Loan, Pledgor, pursuant to the Commercial Code of the State of California, hereby pledges to Pledgee all of Pledgee's capital stock (or any proceeds therefrom) now owned or hereafter acquired by Pledgor (herein sometimes referred to as the "Shares"). Any Shares now owned are hereby delivered to Pledgee, duly endorsed in blank or with executed stock powers. Any Shares hereafter acquired shall be promptly delivered to Pledgee, duly endorsed in blank or with executed stock powers. Pledgee or its agent shall hold the Shares subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment in the form attached hereto as Exhibit A for use in transferring all or a portion of --------- the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by Pledgee as security for the repayment of the Promissory Note, and any extensions or renewals thereof, to be executed by Pledgor and Pledgee. Pledgee shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.
Creation and Description of Security Interest. In consideration of the loan of $350,000.00 to Pledgor under the Note, Pledgor, pursuant to the California Commercial Code, hereby pledges 350,000 Shares (herein sometimes referred to as the "Collateral") represented by certificate number ______, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, executed by Pledgor, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.
Creation and Description of Security Interest. In consideration of the one --------------------------------------------- million four hundred thousand dollar ($1,400,000) loan from Pledgee, Pledgor, pursuant to the Note, hereby pledges eighty-seven thousand five hundred (87,500) of the Shares (herein sometimes referred to as the "Collateral") represented by certificate number ______________.
Creation and Description of Security Interest. As security for the Pledgor's obligations to the Pledgee, the Pledgor, pursuant to the California Commercial Code, hereby grants to the Pledgee a security interest in 25,000 shares of Common Stock of Novadigm, Inc. (herein sometimes referred to as the "Collateral" or as the "Shares") represented by certificate number __________, duly endorsed in blank or with executed stock powers, and herewith delivers said certificate to the Secretary of Pledgee ("Pledgeholder"), who shall hold said certificate subject to the terms and conditions of this Security Agreement. The pledged stock (together with an executed blank stock assignment, attached hereto as Exhibit B, for use in transferring all or a portion of the Shares to Pledgee if, as and when required pursuant to this Security Agreement) shall be held by the Pledgeholder as security for the repayment of the Note, and any extensions or renewals thereof, to be executed by Pledgor pursuant to the terms of the Agreement, and the Pledgeholder shall not encumber or dispose of such Shares except in accordance with the provisions of this Security Agreement.
