Common use of Creation of the Pledge Clause in Contracts

Creation of the Pledge. (a) The Pledgor hereby creates a pledge pursuant to Article 334, section II, of the General Law of Negotiable Instruments and Credit Transactions of Mexico (Ley General de Títulos y Operaciones de Crédito; the “LGTOC”) over the Pledged Shares and their corresponding share certificates, including, by way of example and not limitation, all corporate and economic rights arising therefrom, in favor and for the benefit of the Secured Parties, acting through the Pledgee, to secure, as a first priority lien, the full and timely performance of any and all of the Secured Obligations. While any Secured Obligation shall remain unsatisfied (other than (i) contingent indemnification obligations as to which no claim has been asserted, (ii) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements and (iii) letters of credit that have been cash collateralized in accordance with the terms of the Credit Agreement), the Pledgor agrees not to withdraw or request the partial release of any of the Pledged Shares under this Agreement, other than as not prohibited by the Secured Documents.

Creation of the Pledge. (a) The Each Pledgor hereby creates a pledge pursuant to Article 334, section IIIII, of the General Law of Negotiable Instruments and Credit Transactions of Mexico (Ley General de Títulos y Operaciones de Crédito; the “LGTOC”) over the Pledged Shares Axalta LA Holding Equity Interest, the ACSM Equity Interest and their corresponding share certificates, including, by way of example any and not limitation, all corporate and economic rights arising therefromtherefrom (collectively, the “Pledged Equity Interests”), in favor and for the benefit of the Secured Parties, acting through the Pledgee, to secure, as a first priority lien, the full and timely performance of any and all of the Secured Obligations. While any Secured Obligation shall remain unsatisfied (other than (i) contingent indemnification obligations as to which no claim has been asserted, (ii) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements and (iii) letters of credit that have been cash collateralized in accordance with the terms of the Credit Agreement), the Pledgor agrees Pledgors agree not to withdraw or request the partial release of any of the Pledged Shares Equity Interests under this Agreement, other than as not prohibited by the Secured Documents.

Creation of the Pledge. (a) The Each Pledgor hereby creates a pledge pursuant to Article 334, section IIIII, of the General Law of Negotiable Instruments and Credit Transactions of Mexico (Ley General de Títulos y Operaciones de Crédito; the “LGTOC”) over the Pledged Shares Axalta LA Holding Equity Interests, the ACSSM Equity Interest and their corresponding share certificates, including, by way of example any and not limitation, all corporate and economic rights arising therefromtherefrom (collectively, the “Pledged Equity Interests”), in favor and for the benefit of the Secured Parties, acting through the Pledgee, to secure, as a first priority lien, the full and timely performance of any and all of the Secured Obligations. While any Secured Obligation shall remain unsatisfied (other than (i) contingent indemnification obligations as to which no claim has been asserted, (ii) obligations and liabilities under Secured Cash Management Agreements and Secured Hedge Agreements and (iii) letters of credit that have been cash collateralized in accordance with the terms of the Credit Agreement), the Pledgor agrees Pledgors agree not to withdraw or request the partial release of any of the Pledged Shares Equity Interests under this Agreement, other than as not prohibited by the Secured Documents.