Common use of Pledge of Shares Clause in Contracts

Pledge of Shares. If I have signed a separate Pledge of Shares/Certificate Agreement, I understand and agree that I am pledging, under the Uniform Commercial Code, shares now on deposit in my regular share and/or certificate account(s). I understand that I must, at all times, keep a sum equal to my Credit Limit on deposit in the designated regular share and/or certificate account(s) identified on the Pledge of Shares/ Certificate Agreement until I repay my entire Account Balance and the Account is terminated. I understand and agree that this security interest will cover future Purchases and Advances under this Agreement. If I default, you may apply these shares to repay my Account Balance in accordance with federal or other law. I understand that the ANNUAL PERCENTAGE RATE quoted above does not take into account the amount pledged in my regular share and/or certificate account(s).