Pledge and charge Sample Clauses
The 'Pledge and charge' clause establishes a security interest in certain assets, typically by allowing one party (the pledgor) to provide collateral to another party (the pledgee) as security for an obligation or debt. In practice, this means the pledgor grants the pledgee rights over specified assets, such as shares, accounts, or property, which the pledgee can claim or sell if the pledgor defaults on their obligations. This clause is essential for protecting the interests of the secured party by ensuring they have recourse to valuable assets if the underlying agreement is breached.
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Pledge and charge. 3.1 As security for the full and punctual payment of the Secured Sums, the Pledgor hereby charges and pledges in favor of the Trustee by way of a sole first degree fixed charge, 287,008 Ordinary Shares, NIS 0.01 par value each, of RR Media Ltd., (corporate number 510896293), that are listed for trading on the Nasdaq (in this document referred to as: the “Charged Shares”), including all accretions that will derive from the Charged Shares, and all rights that are or will be vested by virtue or in respect thereof, including bonus shares, preferential rights, rights to receive other securities in respect thereof of any class, as well as all dividends, money or property in specie (hereinafter: the “Accretions”) the Charged Shares and the Accretions to be hereinafter collectively called: the “Pledged Assets”).
3.2 The pledge and charge created under this Pledge Agreement will apply to all rights to indemnity or compensation that will enure to the Pledgor by reason of loss, damage or expropriation of the Pledged Assets.
3.3 All the Pledgor’s rights in the Charged Shares by virtue of any law, bye-laws or agreement, will remain unaffected and will be held by it exclusively, as long as payment of the Bonds has not been accelerated. Without derogating from the generality of the foregoing, as long as payment of the Bonds has not been accelerated, the Pledgor will hold and may effect full use, at its sole determination, of the voting rights in RR Media, rights to receive dividends, rights to acquire securities on a rights offering of RR Media (if any) and anything in addition thereto (hereinafter collectively called: the “Accretions”), provided that the amounts of the dividends in respect of the Charged Shares that will be paid (if any) by Rrat Sat, will be transferred to the Trustee in order to effect payment of the principal and interest that are due to the Holders of the Bonds, provided the additional shares that will be so issued or allotted by virtue of the Charged Shares, will be charged in favor of the Trustee and will constitute part of the “Charged Shares” in all respects.
Pledge and charge. 2.1.1 The Pledgor hereby:
(a) pledges and charges all the Securities, along with all the rights, title, claims, demand, benefits and interests of the Pledgor therein and the proceeds of sale and other realization of the Securities or such part thereof, in favour of the Lender, free from Encumbrances, and deposits the Deposited Documents to secure repayment of the Obligations, on or before Drawdown Date;
(b) pledges and charges to and for the benefit of the Lender, the Additional Securities along with all the rights, title, claims, demand, benefits and interest of the Pledgor, in, to, under or in respect of such Additional Securities and the proceeds of sale and other realization of the Additional Securities or such part thereof, and agrees to deposit and deliver to the Lender the Deposited Documents and such other documents and confirmations relating to the Additional Securities as security for the due discharge, redemption and repayment of the Obligations; and
(c) pledges and charges (as applicable) to and for the benefit of the Lender, as a continuing security interest and to the extent not pledged, assigned, transferred or charged in terms of sub-clauses (a) and (b) above, the Collateral and all of the Pledgor’ right, title, interest, benefits, claims and demands whatsoever of the Pledgor in, to, under, or in respect of the Collateral and any indemnity, warranty or guarantee, payable by reason of loss to or otherwise with respect to any of the Collateral upon the terms and conditions set forth in this Agreement, on or before Drawdown Date.
2.1.2 The procedure detailed below for the creation of the pledge over units of Mutual Funds which are in physical form shall be followed:
(a) The Pledgor shall issue a Pledge Creation Request to the issuer Mutual Fund requesting for the creation of the pledge over the Securities in favour of Lender as security for the due repayment, discharge and redemption of the Facility granted by the Lender to the Borrower and do all such acts, deeds and things as shall be necessary in accordance with the offer documents of the Mutual Funds to effect the pledge of the Securities in favour of Lender prior to or simultaneously with the execution of this Agreement. The Pledgor undertakes to do all such actions and execute such documents and agreements as may be necessary for the valid creation and perfection of the pledge in accordance with the terms of this Agreement within 5 (five) days from the date hereof.
(b) Upon the Mutual Fu...
Pledge and charge. 51 SECTION 10.2. Delivery of Collateral.................................................... 52 SECTION 10.3. Agent Appointed Attorney-in-Fact.......................................... 52 SECTION 10.4. Agent May Perform......................................................... 52 SECTION 10.5. Voting Rights and Dividends............................................... 53 SECTION 10.6. Remedies upon an Event of Default......................................... 54 SECTION 10.7. Application of Proceeds of Sale........................................... 57 SECTION 10.8. Responsibilities of the Agent............................................. 57 SECTION 10.9. Termination; Release Reinstatement........................................ 58 SECTION 10.10
Pledge and charge. As security for the payment and ----------------- performance, as the case may be, in full of the Obligations, each Pledgor hereby grants to the Agent for the benefit of the Lenders and their successors and assigns a first priority security interest in all of such Pledgor's right, title and interest in, to and under the Collateral; provided, that with respect to the -------- shares of Capital Stock of Mutual Indemnity (Dublin) Ltd., as security for the payment and performance in full of the Obligations, the Borrower as record and beneficial owner hereby mortgages and charges all the shares of Capital Stock of Mutual Indemnity (Dublin) Ltd. (other than the MIDL Director Share) by way of a first fixed mortgage and charge (it being understood that all the obligations of each Pledgor hereunder shall, to the fullest extent permitted by applicable Laws, apply to the Borrower as mortgagor and chargor, and with respect to such shares of Capital Stock only, any reference to a "pledge" herein shall be deemed to be a reference to such first fixed mortgage and charge).