No Pledge or Security Interest Clause Samples
The "No Pledge or Security Interest" clause prohibits a party from granting any security interest, lien, or pledge over certain assets or rights specified in the agreement. In practice, this means the party cannot use these assets as collateral for loans or other obligations, nor can they allow third parties to claim an interest in them. This clause is essential for protecting the other party’s interests by ensuring that the specified assets remain unencumbered and available, thereby reducing the risk of conflicting claims or loss of control over important assets.
No Pledge or Security Interest. The purpose of the Company’s retention of Executive’s certificates in respect of Unvested Shares and executed security powers is solely to facilitate the repurchase provisions set forth in Section 3 herein and does not constitute a pledge by Executive of, or the granting of a security interest in, the underlying equity.
No Pledge or Security Interest. The purpose of the Company’s retention of Employee’s certificates and executed security powers is solely to facilitate the provisions set forth in Section 3 herein and Section 8.2 of the LLC Agreement and does not by itself constitute a pledge by Employee of, or the granting of a security interest in, the underlying equity.
No Pledge or Security Interest. The purpose of the Company's ------------------------------ retention of the Executive's stock certificates and executed stock powers is solely to facilitate the repurchase provisions set forth in Section 3 herein and does not constitute a pledge by the Executive of, or the granting of a security interest in, the underlying stock.
No Pledge or Security Interest. The purpose of the Company's retention of Executive's stock certificates and executed stock powers is solely to facilitate the repurchase provisions set forth in SECTION 4 herein and does not constitute a pledge by Executive of, or the granting of a security interest in, the underlying stock.
No Pledge or Security Interest. The purpose of the Company’s retention of Executive’s certificates in respect of Unvested Shares and executed security powers is solely to facilitate the repurchase provisions set forth in Section 3 herein and does not constitute a pledge by Executive of, or the granting of a security interest in, the underlying equity; provided that the Company acknowledges that until GTCR Fund VII releases the security interest granted to it in the Executive Securities by Executive pursuant to the terms of the Pledge Agreement the Company shall hold such certificates on behalf of GTCR Fund VII subject to and in accordance with the terms of the Pledge Agreement.
No Pledge or Security Interest. The purpose of the Company's retention of Executive's certificates and executed security powers is solely to facilitate the repurchase provisions set forth in SECTION 3 herein and SECTION 6 of the Securityholders Agreement and does not constitute a pledge by Executive of, or the granting of a security interest in, the underlying equity; PROVIDED that the Company acknowledges that until GTCR Fund VII releases the security interest granted to it in the Executive Securities by Executive pursuant to the terms of the Pledge Agreement the Company shall hold such certificates on behalf of GTCR Fund VII subject to and in accordance with the terms of the Pledge Agreement.
No Pledge or Security Interest. The purpose of LD Holdings’ retention of Grantee’s certificates and executed Unit Power is solely to facilitate the transfer of Holdco Units pursuant to Section 9.2 of the Holdings LLC Agreement and does not constitute a pledge by Grantee of, or the granting of a security interest in, the underlying securities. The certificates and Unit Power may be used solely for the purposes set forth in Section 9.2 of the Holdings LLC Agreement.
No Pledge or Security Interest. The purpose of the Partnership’s retention of Director’s certificates is solely to facilitate the provisions set forth in Section 3 of the Securityholders Agreement and Section 13.1 of the LP Agreement and does not by itself constitute a pledge by Director of, or the granting of a security interest in, the underlying equity.
No Pledge or Security Interest. The purpose of the Company's retention of Purchaser's certificates and executed security powers is solely to facilitate the repurchase provisions set forth in SECTION 4 herein and SECTION 6 of the Securityholders Agreement does not constitute a pledge by Purchaser of, or the granting of a security interest in, the underlying equity.