Common use of Ownership of Pledged Property Clause in Contracts

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by the Company in favor of Steve Kerekes, Melanie Kerekes, Jim Oattes, Grace Debrabandere, Xxx Xxxxxx, Xonixx Xxxxxx, Xxx Davxx xxx Xxxe Dxxxx xxxxxxxx xx xhat xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead In Trust, Tom Hards In Trust, Steve Kerekes In Trxxx, Xxxx Xxxxxxn In Trust, Xxxxxxx Pilon In Trxxx, Xxx Xxxis In Trust, Xxxx X. Purser In Txxxx xxx Xxnold McAulxx Xx Xxxst (collectivxxx xxx "Xxxxxrs")and a pledge xx xxx Xxxxxxx of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by Teleplus Connect Corp., a subsidiary of the Company Company, in favor of Steve KerekesXxxxx Xxxxxxx, Melanie Kerekes, Jim Oattes, Grace DebrabandereXxxxxxx Xxxxxxx, Xxx Xxxxxx, Xonixx Xxxxx Xxxxxxxxxxxx, Xxx Xxxxxx, Xxxxxx Xxxxxx, Xxx Davxx xxx Xxxe Dxxxx xxxxxxxx xx xhat xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00Xxxxx and Xxxx Xxxxx pursuant to that certain General Security Agreement dated May 11, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead Xxxxx X. Xxxxxxxx In Trust, Tom Hards Xxx Xxxxx In Trust, Steve Kerekes Xxxxx Xxxxxxx In TrxxxTrust, Xxxx Xxxxxxn Xxxxxxx In Trust, Xxxxxxx Pilon Xxxxx In TrxxxTrust, Xxx Xxxis Xxxxx In Trust, Xxxx X. Purser Xxxxxx In Txxxx xxx Xxnold McAulxx Xx Xxxst Trust and Xxxxxx XxXxxxx In Trust (collectivxxx xxx collectively the "Xxxxxrs")and Vendors") and a pledge xx xxx Xxxxxxx to the Vendors of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by the Company in favor of Steve KerekesXxxxx Xxxxxxx, Melanie Kerekes, Jim Oattes, Grace DebrabandereXxxxxxx Xxxxxxx, Xxx Xxxxxx, Xonixx Xxxxx Xxxxxxxxxxxx, Xxx Xxxxxx, Xxxxxx Xxxxxx, Xxx Davxx xxx Xxxe Dxxxx xxxxxxxx xx xhat xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00Xxxxx and Xxxx Xxxxx pursuant to that certain General Security Agreement dated May 11, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead Xxxxx X. Xxxxxxxx In Trust, Tom Hards Xxx Xxxxx In Trust, Steve Kerekes Xxxxx Xxxxxxx In TrxxxTrust, Xxxx Xxxxxxn Xxxxxxx In Trust, Xxxxxxx Pilon Xxxxx In TrxxxTrust, Xxx Xxxis Xxxxx In Trust, Xxxx X. Purser Xxxxxx In Txxxx xxx Xxnold McAulxx Xx Xxxst Trust and Xxxxxx XxXxxxx In Trust (collectivxxx xxx collectively the "Xxxxxrs")and Vendors") and a pledge xx xxx Xxxxxxx to the Vendors of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by the Company in favor of Steve KerekesXxxxx Xxxxxxx, Melanie Kerekes, Jim Oattes, Grace DebrabandereXxxxxxx Xxxxxxx, Xxx Xxxxxx, Xonixx Xxxxx Xxxxxxxxxxxx, Xxx Xxxxxx, Xxxxxx Xxxxxx, Xxx Davxx xxx Xxxe Dxxxx xxxxxxxx xx xhat xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00Xxxxx and Xxxx Xxxxx pursuant to that certain General Security Agreement dated May 11, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead Xxxxx X. Xxxxxxxx In Trust, Tom Hards Xxx Xxxxx In Trust, Steve Kerekes Xxxxx Xxxxxxx In TrxxxTrust, Xxxx Xxxxxxn Xxxxxxx In Trust, Xxxxxxx Pilon Xxxxx In TrxxxTrust, Xxx Xxxis Xxxxx In Trust, Xxxx X. Purser Xxxxxx In Txxxx xxx Xxnold McAulxx Xx Xxxst Trust and Xxxxxx XxXxxxx In Trust (collectivxxx xxx collectively the "Xxxxxrs")and Vendors")and a pledge xx xxx Xxxxxxx to the Vendors of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by the Company in favor of Steve KerekesSxxxx Xxxxxxx, Melanie KerekesMxxxxxx Xxxxxxx, Jim Oattes, Grace Debrabandere, Xxx Jxx Xxxxxx, Xonixx Gxxxx Xxxxxxxxxxxx, Jxx Xxxxxx, Xxx Davxx xxx Xxxe Dxxxx xxxxxxxx xx xhat xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00Mxxxxx Xxxxxx, Txx Xxxxx and Jxxx Xxxxx pursuant to that certain General Security Agreement dated May 11, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead Jxxxx X. Xxxxxxxx In Trust, Tom Hards Txx Xxxxx In Trust, Steve Kerekes In Trxxx, Xxxx Xxxxxxn Sxxxx Xxxxxxx In Trust, Pxxx Xxxxxxx Pilon In Trxxx, Xxx Xxxis In Trust, Xxxx Jxxxxxx Xxxxx In Trust, Txx Xxxxx In Trust, Axxx X. Purser Xxxxxx In Txxxx xxx Xxnold McAulxx Xx Xxxst Trust and Axxxxx XxXxxxx In Trust (collectivxxx xxx collectively the "Xxxxxrs")and Vendors") and a pledge xx xxx Xxxxxxx to the Vendors of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by the Company in favor of Steve Kerekes, Melanie Kerekes, Jim Oattes, Grace DebrabandereKerxxxx, Xxx XxxxxxXxxtex, Xonixx XxxxxxXxxxx Xxxxxxanxxxx, Xxx Davxx xxx Xxxe Dxxxx xxxxxxxx xx xhat Rexxxx, Xxxxxx Xxxxxn, Xxx Xxxxx axx Xxxx Xxxxx pxxxxxxx xo thax xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00General Security Agreement dated May 11, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead In Trust, Tom Hards In Xxx Xxxxx Xx Xxust, Steve Xxxxxxx Xn Trust, Steve Kerekes In Trxxx, Xxxx Xxxxxxn In Paxx Xxxxxxx Xx Trust, Xxxxxxx Pilon In Trxxx, Xxx Xxxis In Jacxxxx Xxxxx Xn Trust, Xxxx X. Purser Tox Xxxxx Xx Xxust, Alan R. Xxxxxx In Txxxx xxx Xxnold McAulxx Xx Xxxst Trust anx Xxxxxx XxXxxey In Trust (collectivxxx xxx cxxxxxxxxxxx xxe "Xxxxxrs")and Vendors")and a pledge xx xxx Xxxxxxx to the Vendors of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by Teleplus Connect Corp., a subsidiary of the Company Company, in favor of Steve Kerekes, Melanie Kerekes, Jim Oattes, Grace Debrabandere, Xxx Jix Xxxxxx, Xonixx Xxnicx Xxxxxx, Xxx Davxx Xavix xxx Xxxe Xxxx Dxxxx xxxxxxxx xx xhat xxxxxxx Xenxxxx Xenexxx Xxxxxxxx Xxxxxxxxx datxx Agxxxxxxx xated Xxx 00, 20050005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead In Trust, Tom Hards In Trust, Steve Kerekes In TrxxxXxxxx, Xxxx Xxxxxxn Xxxxman In Trust, Xxxxxxx Pilon In TrxxxTruxx, Xxx Xxxis Xxxxs In Trust, Xxxx X. Purser Xxxser In Trust xxx Xxxxxx McAuley In Txxxx xxx Xxnold McAulxx Xx Xxxst (collectivxxx xxllectively xxx "Xxxxxrs")and Xxxxxxx") and a pledge xx xxx Xxxxxxx Xxxxxxs of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by Teleplus Connect Corp., a subsidiary of the Company Company, in favor of Steve Kerekes, Melanie Kerekes, Jim Oattes, Grace DebrabandereXxxxxxx, Xxx Oxxxxx, Xxxxx Xxbrxxxxxxxx, Jix Xxxxxx, Xonixx XxxxxxXxxxxx Xedxxx, Xxx Davxx Xavxx xxx Xxxe Dxxxx xxxxxxxx xx xhat xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00Xxxx Xavxx xxxxxxnt to xxxx xxxxain General Security Agreement dated May 11, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead In Txxxx, Xxx Xxxxx Xn Trust, Tom Hards Stxxx Xxxxxes In Trust, Steve Kerekes In Trxxx, Xxxx Xxxxxxn In Trust, Xxxxxxx Pilon In Trxxx, Xxx Xxxis Xxxon In Trust, Xxxx Xxx Xxxxx Xn Trust, Alxx X. Purser Xxxser In Txxxx Trusx xxx Xxnold McAulxx Xx Xxxst Xxxxxx XcAuley In Trusx (collectivxxx xxx xxxxxxxxxxxy the "Xxxxxrs")and Vendors") and a pledge xx xxx Xxxxxxx to the Vendors of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by the Company in favor of Steve Kerekes, Melanie Kerekes, Jim Oattes, Grace DebrabandereKerexxx, Xxx XxxxxxXxxxes, Xonixx Xxxxx Xxxxxxxndxxx, Xxx Xedxxx, Xxxxxx Xxxxxx, Xxx Davxx xxx Xxxe Dxxxx xxxxxxxx Xxxxx anx Xxxx Xxxxx puxxxxxx xx xhat that xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00Xeneral Security Agreement dated May 11, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead In Trust, Tom Hards In Xxx Xxxxx Xx Xxxst, Steve Kxxxxxx Xx Trust, Steve Kerekes In Trxxx, Xxxx Xxxxxxn In Paux Xxxxxxx Xx Trust, Xxxxxxx Pilon In Trxxx, Xxx Xxxis In Jacqxxx Xxxxx Xx Trust, Xxxx X. Purser Tom Xxxxx Xx Xxxst, Alan R. Xxxxxx Xn Trust and Xxxxxx XxXxxxy In Txxxx xxx Xxnold McAulxx Xx Xxxst Trust (collectivxxx coxxxxxxxxxx xxx "Xxxxxrs")and Vendors")and a pledge xx xxx Xxxxxxx to the Vendors of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.

Ownership of Pledged Property. The Company warrants and represents that it is the legal and beneficial owner of the Pledged Property free and clear of any lien, security interest, option or other charge or encumbrance except for that grant of a security interest in and to all undertakings, property and assets made by the Company in favor of Steve Kerekes, Melanie Kerekes, Jim Oattes, Grace DebrabandereMxxxxxx Xxxxxxs, Xxx Xxxxxx, Xonixx Xxacx Xxxxxxxxdexx, Xxx Xxxxxx, Xxx Davxx Xxnixx Xxxxxx, Txx Xxxxx xxx Xxxe Dxxxx xxxxxxxx Jaxx Xxxxx pursuxxx xx xhat xxxxxxx Xenxxxx Xxxxxxxx Xxxxxxxxx datxx Xxx 00xxxt certain General Security Agreement dated May 11, 2005, and except for that grant of a security interest in and to all undertakings, property and assets made by Telizon Inc., a subsidiary of the Company, in favor of James R. Fairhead Fairheax Xx Xxxxx, Xxx Xards In TrustTruxx, Tom Hards In Trust, Steve Xxxxx Kerekes In TrxxxXxxxx, Xxxx Xxxxxxn Chapman In TrustXxxxx, Xxxxxxx Xxxxxes Pilon In TrxxxXxxxx, Xxx Xxxis Xavis In TrustTruxx, Xxxx X. R. Purser In Txxxx Ix Xxxxx xxx Xxnold McAulxx Xx Xxxst McAuley Ix Xxxxx (collectivxxx xxx xxxxxctively the "Xxxxxrs")and Vendors")and a pledge xx xxx Xxxxxxx to the Vendors of all of the shares of Telizon Inc. purchased by Teleplus Connect Corp., a subsidiary of the Company, from the Vendors pursuant to the General Security Agreement and Share Pledge Agreement among Teleplus Connect, Corp., Telizon Inc. and the Vendors, effective June 30, 2005.