Common use of Pledge of Shares Clause in Contracts

Pledge of Shares. 2.1 To secure the repayment of the Principal Sum and the Interest Amount, the Executive shall pledge to the Company any shares of the Common Stock of the Company, no par value, which may be acquired on or after the date hereof by the Executive (whether or not acquired using the proceeds of the loan made hereunder)(the "Pledged Shares"). Shares acquired by the Executive which are subject to restrictions on transfer ("Restricted Shares") shall be deemed Pledged Shares immediately upon the lapse of such restrictions. To perfect such security interest, the Executive shall deliver to the Company immediately upon receipt any stock certificates representing any Pledged Shares (or, with respect to Restricted Shares which were being held in escrow until the restrictions lapsed, the Executive shall direct that such Restricted Shares be delivered to the Company by the escrow agent immediately upon the lapse of the applicable restrictions). All stock certificates delivered by the Executive (or by such escrow agent) to the Company hereunder shall be accompanied by stock powers duly endorsed in blank and medallion signature guaranteed. Until such time, if any, that the Company forecloses on the Pledged Shares, the Executive shall be entitled to retain cash dividends and cash distributions (if any) in respect of, and any voting rights incident to, the Pledged Shares. 6 2.2 The Executive acknowledges and agrees that the loan made hereunder is a full-recourse loan, and if the value of the Pledged Shares is not sufficient to repay the Principal Sum and the Interest Amount, the Executive shall be liable to the Company for the repayment in full on the Repayment Date of the Principal Sum and the Interest Amount.

Pledge of Shares. 2.1 To secure the repayment of the Principal Sum and the Interest Amount, the Executive shall pledge to the Company any shares of the Common Stock of the Company, no par value, which may be acquired on or after the date hereof by the Executive (whether or not acquired using the proceeds of the loan made hereunder)(the hereunder) (the "Pledged Shares"). Shares acquired by the Executive which are subject to restrictions on transfer ("Restricted Shares") shall be deemed Pledged Shares immediately upon the lapse of such restrictions. To perfect such security interest, the Executive shall deliver to the Company immediately upon receipt any stock certificates representing any Pledged Shares (or, with respect to Restricted Shares which were being held in escrow until the restrictions lapsed, the Executive shall direct that such Restricted Shares be delivered to the Company by the escrow agent immediately upon the lapse of the applicable restrictions). All stock certificates delivered by the Executive (or by such escrow agent) to the Company hereunder shall be accompanied by stock powers duly endorsed in blank 18 and medallion signature guaranteed. Until such time, if any, that the Company forecloses on the Pledged Shares, the Executive shall be entitled to retain cash dividends and cash distributions (if any) in respect of, and any voting rights incident to, the Pledged Shares. 6 2.2 The Executive acknowledges and agrees that the loan made hereunder is a full-recourse loan, and if the value of the Pledged Shares is not sufficient to repay the Principal Sum and the Interest Amount, the Executive shall be liable to the Company for the repayment in full on the Repayment Date of the Principal Sum and the Interest Amount.

Pledge of Shares. 2.1 To secure the repayment of the Principal Sum and the Interest Amount, the Executive shall pledge to the Company any shares of the Common Stock of the Company, no par value, which may be acquired on or after the date hereof by the Executive (whether or not acquired using the proceeds of the loan made hereunder)(the hereunder) (the "Pledged Shares"). Shares acquired by the Executive which are subject to restrictions on transfer ("Restricted Shares") shall be deemed Pledged Shares immediately upon the lapse of such restrictions. To perfect such security interest, the Executive shall deliver to the Company immediately upon receipt any stock certificates representing any Pledged Shares (or, with respect to Restricted Shares which were being held in escrow until the restrictions lapsed, the Executive shall direct that such Restricted Shares be delivered to the Company by the escrow agent immediately upon the lapse of the applicable restrictions). All stock certificates delivered by the Executive (or by such escrow agent) to the Company hereunder shall be accompanied by stock powers duly endorsed in blank and medallion signature guaranteed. Until such time, if any, that the Company forecloses on the Pledged Shares, the Executive shall be entitled to retain cash dividends and cash distributions (if any) in respect of, and any voting rights incident to, the Pledged Shares. 6 4 2.2 The Executive acknowledges and agrees that the loan made hereunder is a full-recourse loan, and if the value of the Pledged Shares is not sufficient to repay the Principal Sum and the Interest Amount, the Executive shall be liable to the Company for the repayment in full on the Repayment Date of the Principal Sum and the Interest Amount.

Pledge of Shares. 2.1 To secure the repayment of the Principal Sum and the Interest Amount, the Executive shall pledge to the Company any shares of the Common Stock of the Company, no par value, which may be acquired on or after the date hereof by the Executive (whether or not acquired using the proceeds of the loan made hereunder)(the hereunder) (the "Pledged Shares"). Shares acquired by the Executive which are subject to restrictions on transfer ("Restricted Shares") shall be deemed Pledged Shares immediately upon the lapse of such restrictions. To perfect such security interest, the Executive shall deliver to the Company immediately upon receipt any stock certificates representing any Pledged Shares (or, with respect to Restricted Shares which were being held in escrow until the restrictions lapsed, the Executive shall direct that such Restricted Shares be delivered to the Company by the escrow agent immediately upon the lapse of the applicable restrictions). All stock certificates delivered by the Executive (or by such escrow agent) to the Company hereunder shall be accompanied by stock powers duly endorsed in blank and medallion signature guaranteed. Until such time, if any, that the Company forecloses on the Pledged Shares, the Executive shall be entitled to retain cash dividends and cash distributions (if any) in respect of, and any voting rights incident to, the Pledged Shares. 6 23 2.2 The Executive acknowledges and agrees that the loan made hereunder is a full-recourse loan, and if the value of the Pledged Shares is not sufficient to repay the Principal Sum and the Interest Amount, the Executive shall be liable to the Company for the repayment in full on the Repayment Date of the Principal Sum and the Interest Amount.

Pledge of Shares. 2.1 To secure the repayment of the Principal Sum and the Interest Amount, the Executive shall pledge to the Company any shares of the Common Stock of the Company, no par value, which may be acquired on or after the date hereof by the Executive (whether or not acquired using the proceeds of the loan made hereunder)(the hereunder) (the "Pledged Shares"). Shares acquired by the Executive which are subject to restrictions on transfer ("Restricted Shares") shall be deemed Pledged Shares immediately upon the lapse of such restrictions. To perfect such security interest, the Executive shall deliver to the Company immediately upon receipt any stock certificates representing any Pledged Shares (or, with respect to Restricted Shares which were being held in escrow until the restrictions lapsed, the Executive shall direct that such Restricted Shares be delivered to the Company by the escrow agent immediately upon the lapse of the applicable restrictions). All stock certificates delivered by the Executive (or by such escrow agent) to the Company hereunder shall be accompanied by stock powers duly endorsed in blank and medallion signature guaranteed. Until such time, if any, that the Company forecloses on the Pledged Shares, the Executive shall be entitled to retain cash dividends and cash distributions (if any) in respect of, and any voting rights incident to, the Pledged Shares. 6 2.2 The Executive acknowledges and agrees that the loan made hereunder is a full-recourse loan, and if the value of the Pledged Shares is not sufficient to repay the Principal Sum and the Interest Amount, the Executive shall be liable to the Company for the repayment in full on the Repayment Date of the Principal Sum and the Interest Amount.

Pledge of Shares. 2.1 To secure the repayment of the Principal Sum and the Interest Amount, the Executive shall pledge to the Company any shares of the Common Stock of the Company, no par value, which may be acquired on or after the date hereof by the Executive (whether or not acquired using the proceeds of the loan made hereunder)(the hereunder) (the "Pledged Shares"). Shares acquired by the Executive which are subject to restrictions on transfer ("Restricted Shares") shall be deemed Pledged Shares immediately upon the lapse of such restrictions. To perfect such security interest, the Executive shall deliver to the Company immediately upon receipt any stock certificates representing any Pledged Shares (or, with respect to Restricted Shares which were being held in escrow until the restrictions lapsed, the Executive shall direct that such Restricted Shares be delivered to the Company by the escrow agent immediately upon the lapse of the applicable restrictions). All stock certificates delivered by the Executive (or by such escrow agent) to the Company hereunder shall be accompanied by stock powers duly endorsed in blank and medallion signature guaranteed. Until such time, if any, that the Company forecloses on the Pledged Shares, the Executive shall be entitled to retain cash dividends and cash distributions (if any) in respect of, and any voting rights incident to, the Pledged Shares. 6 21 2.2 The Executive acknowledges and agrees that the loan made hereunder is a full-recourse loan, and if the value of the Pledged Shares is not sufficient to repay the Principal Sum and the Interest Amount, the Executive shall be liable to the Company for the repayment in full on the Repayment Date of the Principal Sum and the Interest Amount.

Pledge of Shares. 2.1 To secure the repayment of the Principal Sum and the Interest Amount, the Executive shall pledge to the Company any shares of the Common Stock of the Company, no par value, which may be acquired on or after the date hereof by the Executive (whether or not acquired using the proceeds of the loan made hereunder)(the hereunder) (the "Pledged Shares"). Shares acquired by the Executive which are subject to restrictions on transfer ("Restricted Shares") shall be deemed Pledged Shares immediately upon the lapse of such restrictions. To perfect such security interest, the Executive shall deliver to the Company immediately upon receipt any stock certificates representing any Pledged Shares (or, with respect to Restricted Shares which were being held in escrow until the restrictions lapsed, the Executive shall direct that such Restricted Shares be delivered to the Company by the escrow agent immediately upon the lapse of the applicable restrictions). All stock certificates delivered by the Executive (or by such escrow agent) to the Company hereunder shall be accompanied by stock powers duly endorsed in blank and medallion signature guaranteed. Until such time, if any, that the Company forecloses on the Pledged Shares, the Executive shall be entitled to retain cash dividends and cash distributions (if any) in respect of, and any voting rights incident to, the Pledged Shares. 6 10 2.2 The Executive acknowledges and agrees that the loan made hereunder is a full-recourse loan, and if the value of the Pledged Shares is not sufficient to repay the Principal Sum and the Interest Amount, the Executive shall be liable to the Company for the repayment in full on the Repayment Date of the Principal Sum and the Interest Amount.

Pledge of Shares. 2.1 To secure the repayment of the Principal Sum and the Interest Amount, the Executive shall pledge to the Company any shares of the Common Stock of the Company, no par value, which may be acquired on or after the date hereof by the Executive (whether or not acquired using the proceeds of the loan made hereunder)(the "Pledged Shares"). Shares acquired by the Executive which are subject to restrictions on transfer ("Restricted Shares") shall be deemed Pledged Shares immediately upon the lapse of such restrictions. To perfect such security interest, the Executive shall deliver to the Company immediately upon receipt any stock certificates representing any Pledged Shares (or, with respect to Restricted Shares which were being held in escrow until the restrictions lapsed, the Executive shall direct that such Restricted Shares be delivered to the Company by the escrow agent immediately upon the lapse of the applicable restrictions). All stock certificates delivered by the Executive (or by such escrow agent) to the Company hereunder shall be accompanied by stock powers duly endorsed in blank and medallion signature guaranteed. Until such time, if any, that the Company forecloses on the Pledged Shares, the Executive shall be entitled to retain cash dividends and cash distributions (if any) in respect of, and any voting rights incident to, the Pledged Shares. 6 8 2.2 The Executive acknowledges and agrees that the loan made hereunder is a full-recourse loan, and if the value of the Pledged Shares is not sufficient to repay the Principal Sum and the Interest Amount, the Executive shall be liable to the Company for the repayment in full on the Repayment Date of the Principal Sum and the Interest Amount.