Common use of No Disposition, Etc Clause in Contracts

No Disposition, Etc. Borrower hereby represents and ---------------------------------------- warrants that it now owns good and marketable title to the Pledged Stock, free and clear of any liens, charges, encumbrances or security interests of any kind whatsoever, and that the Pledge Stock is not subject to any restriction on alienation or transfer, in each case, other than this Agreement, Borrower covenants to defend the right, title and special property of Borrower in and to the Pledged Xxxxx xgainst the claims and demands of all persons whatsoever. Borrower hereby represents, warrants and covenants that Borrower is currently, or shall be, the only owner of the Pledged Stock and that Borrower does not, and will not have, outstanding rights, options, warrants, conversion rights or other commitments or agreements for the purchase or acquisition of the Pledged Stock. Borrower agrees that he will not xxxx, xssign, transfer, exchange, or otherwise dispose of, or grant any option or right with respect to, the Pledged Stock Collateral, nor will it create, incur or permit to exist any lien, security interest therein, change or encumbrance with respect to any of the Pledged Stock Collateral, any interest, or any proceeds thereof except as permitted by this Agreement.