Common use of Pledge of Stock Clause in Contracts

Pledge of Stock. The Pledgor hereby pledges, assigns, grants a --------------- security interest in, and delivers to the Agent, for the benefit of the Banks and the Agent, (a) 100% of the shares of capital stock of each of its Domestic Subsidiaries of every class owned by the Pledgor, as more fully described on Annex A hereto, and (b) not less than 66% of the shares of ----- - capital stock of each of its Foreign Subsidiaries of every class owned by the Pledgor, as more fully described on Annex A hereto, to be held by the ----- - Agent, for the benefit of the Banks and the Agent, subject to the terms and conditions hereinafter set forth. The certificates for such shares, accompanied by stock powers or other appropriate instruments of assignment thereof duly executed in blank by the Pledgor, have been delivered to the Agent.

Appears in 2 contracts

Samples: Credit Agreement (Jackson Products Inc), Stock Pledge Agreement (Jackson Products Inc)

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Pledge of Stock. The Pledgor hereby pledges, assigns, --------------- grants a --------------- security interest in, and delivers to the Agent, for the benefit of the Banks and the Agent, (a) 100% of the shares of capital stock of each of its Domestic Subsidiaries of every class owned by the Pledgor, as more fully described on Annex A hereto, and (b) not less than 66% of the shares of ----- - capital stock of each of its Foreign Subsidiaries of every class owned by the Pledgor, as more fully described on Annex A hereto, hereto to be held by the ----- - Agent, for the benefit of the Banks and the Agent, subject to the terms and conditions hereinafter set forth. The certificates for such shares, accompanied by stock powers or other appropriate instruments of assignment thereof duly executed in blank by the Pledgor, have been delivered to the Agent.

Appears in 1 contract

Samples: Stock Pledge Agreement (Jackson Products Inc)

Pledge of Stock. The Pledgor hereby pledges, assigns, grants --------------- a --------------- security interest in, and delivers to the Agent, for the benefit of the Banks and the Agent, (a) 100% of the shares of capital stock of each of its Domestic Subsidiaries of every class owned by the Pledgor, as more fully described on Annex A hereto, and (b) not less than 66% of the shares of ----- - capital stock of each of its Foreign Subsidiaries of every class owned by the Pledgor, as more fully described on Annex A hereto, hereto to be held by the ----- - Agent, for the benefit of the Banks and the Agent, subject to the terms and conditions hereinafter set forth. The certificates for such shares, accompanied by stock powers or other appropriate instruments of assignment thereof duly executed in blank by the Pledgor, have been delivered to the Agent.

Appears in 1 contract

Samples: Credit Agreement (Jackson Products Inc)

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Pledge of Stock. The Pledgor hereby pledges, assigns, grants --------------- a --------------- security interest in, and delivers to the Agent, for the benefit of the Banks and the Agent, (a) 100% of the shares of capital stock of each of its Domestic Subsidiaries of every class owned by the Pledgor, as more fully described on Annex A hereto, and (b) not less than 66% of the shares of ----- - capital stock of each of its Foreign Subsidiaries of every class owned by the Pledgor, as more fully described on Annex A hereto, hereto to be held by the ----- - Agent, for the benefit of the Banks and the Agent, subject to the terms and conditions hereinafter set forth. The certificates for such shares, accompanied by stock powers or other appropriate instruments of assignment thereof duly executed in blank by the Pledgor, have been delivered to the Agent.

Appears in 1 contract

Samples: Stock Pledge Agreement (Jackson Products Inc)

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