Pledge Amendments. Each Pledgor shall, upon obtaining any additional shares of stock or other securities or interests required to be pledged hereunder as provided in Sections 7(b) and upon determining that any Person in which it holds any shares of stock or other securities or interests is no longer an Unpledgeable Subsidiary, promptly (and in any event on or before thirty (30) days after obtaining such securities) deliver to Secured Party a Pledge Amendment, duly executed by such Pledgor and Issuer, as applicable, in substantially the form of Exhibit A attached hereto (a “Pledge Amendment”), as well as all certificates and instruments representing shares of stock or other equity interests, if any, in accordance with Section 6.12(a)(iii) of the Credit Agreement, in respect of the additional Pledged Shares or Pledged Interests to be pledged pursuant to this Agreement. Each Pledgor hereby authorizes Secured Party to attach each Pledge Amendment to this Agreement and agrees that all Pledged Shares listed on any Pledge Amendment delivered to Secured Party shall for all purposes hereunder be considered Collateral; provided that, the failure of any Pledgor to execute a Pledge Amendment with respect to any additional Pledged Shares pledged pursuant to this Agreement shall not impair the Lien of Secured Party therein or otherwise adversely affect the rights and remedies of Secured Party hereunder with respect thereto.
Appears in 2 contracts
Sources: Credit Agreement (Ashford Hospitality Prime, Inc.), Credit Agreement (Ashford Hospitality Prime, Inc.)
Pledge Amendments. Each Pledgor shall, upon obtaining any additional shares of stock or other securities or interests required to be pledged hereunder as provided in Sections 7(b) and upon determining that any Person in which it holds any shares of stock or other securities or interests is no longer an Unpledgeable Subsidiary(c), promptly (and in any event on or before thirty (30) days after obtaining such securities) deliver to Secured Party a Pledge and Security Amendment, duly executed by such Pledgor and Issuer, as applicable, in substantially the form of Exhibit A attached hereto (a “Pledge and Security Amendment”), as well as all certificates and instruments representing shares of stock or other equity interests, if any, in accordance with Section 6.12(a)(iii2.17(c) of the Credit Agreement, in respect of the additional Pledged Shares or Pledged Interests to be pledged pursuant to this Agreement. Each Pledgor hereby authorizes Secured Party to attach each Pledge and Security Amendment to this Agreement and agrees that all Pledged Shares listed on any Pledge and Security Amendment delivered to Secured Party shall for all purposes hereunder be considered Collateral; provided that, the failure of any Pledgor to execute a Pledge and Security Amendment with respect to any additional Pledged Shares pledged pursuant to this Agreement shall not impair the Lien of Secured Party therein or otherwise adversely affect the rights and remedies of Secured Party hereunder with respect thereto.
Appears in 2 contracts
Sources: Credit Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.)
Pledge Amendments. Each Pledgor shall, upon obtaining any additional shares of stock or other securities or interests required to be pledged hereunder as provided in Sections 7(b) and upon determining that any Person in which it holds any shares of stock or other securities or interests is no longer an Unpledgeable SubsidiarySection 6(b), promptly (and in any event on or before thirty five (305) days Business Days after obtaining such securities) deliver to Secured Party Collateral Agent a Pledge and Security Amendment, duly executed by such Pledgor and Issuer, as applicablePledgor, in substantially the form of Exhibit A attached hereto (a “Pledge and Security Amendment”), as well as all certificates and instruments representing in respect of the additional Pledged Shares or Pledged Interests to be pledged pursuant to this Agreement. Each Pledgor shall, upon pledging any additional shares of stock stock, other securities partnership interests or other equity membership interests, if anyas the case may be, in accordance with of any additional Subsidiary pursuant to Section 6.12(a)(iii) of 6(b), deliver to the Credit AgreementCollateral Agent a Pledge and Security Amendment, duly executed by such Pledgor, in respect of the additional Pledged Shares or Pledged Interests to be pledged pursuant to this Agreement. Each Pledgor hereby authorizes Secured Party Collateral Agent to attach each Pledge and Security Amendment to this Agreement and agrees that all Pledged Shares listed on any Pledge and Security Amendment delivered to Secured Party Collateral Agent shall for all purposes hereunder be considered Collateral; provided that, that the failure of any Pledgor to execute a Pledge and Security Amendment with respect to any additional Pledged Shares pledged pursuant to this Agreement shall not impair the Lien of Secured Party Collateral Agent therein or otherwise adversely affect the rights and remedies of Secured Party Collateral Agent hereunder with respect thereto.
Appears in 2 contracts
Sources: Pledge Agreement (Standard Pacific Corp /De/), Pledge Agreement (Standard Pacific Corp /De/)
Pledge Amendments. Each Pledgor shall, upon obtaining any additional shares of stock or other securities or interests ----------------- indebtedness required to be pledged hereunder as provided in Sections 7(b) and upon determining that any Person in which it holds any shares of stock or other securities or interests is no longer an Unpledgeable SubsidiarySECTION 5(B), promptly (and in any event on or before thirty within five (305) days after obtaining such securitiesBusiness Days) deliver to Secured Party a Pledge and Security Amendment, duly executed by such Pledgor and Issuer, as applicablePledgor, in substantially the form of Exhibit EXHIBIT A attached hereto (a “Pledge Amendment”"PLEDGE AND SECURITY AMENDMENT"), as well as all certificates and instruments representing shares of stock or other equity interests, if any, in accordance with Section 6.12(a)(iii) of the Credit Agreement, in respect of the additional Pledged Shares or Pledged Interests Debt to be pledged pursuant to this Agreement. Each Pledgor hereby authorizes Secured Party to attach each Pledge and Security Amendment to this Agreement and agrees that all Pledged Shares Debt listed on any Pledge and Security Amendment delivered to Secured Party shall for all purposes hereunder be considered Collateral; provided that, that the failure of any Pledgor to execute a Pledge and Security Amendment with respect to any additional Pledged Shares Debt pledged pursuant to this Agreement shall not impair the Lien security interest of Secured Party therein or otherwise adversely affect the rights and remedies of Secured Party hereunder with respect thereto.
Appears in 1 contract
Sources: Credit Agreement (Prologis Trust)