Junior Lien. The Company will use commercially-reasonable efforts to grant to Lender a lien on the Pledged Shares as referenced in that Stock Pledge Agreement of even date herewith by and among the Company, Ugly Duckling Car Sales and Finance Corporation, and BNY Midwest Trust Company, which lien shall be junior to the lien granted under such agreement.
Appears in 3 contracts
Sources: Loan Agreement (Ugly Duckling Corp), Loan Agreement (Garcia Ernest C Ii), Loan Agreement (Garcia Ernest C Ii)