Pledged Entity Sample Clauses
The 'Pledged Entity' clause defines the specific party or asset that is being offered as collateral in a contractual agreement. In practice, this clause identifies the entity—such as a company, subsidiary, or asset—that is subject to the pledge, and may outline the rights and obligations associated with the pledged status. By clearly designating what or who is being pledged, this clause ensures transparency and helps prevent disputes over the scope of collateral, thereby protecting the interests of both the pledgor and the secured party.
Pledged Entity. The Borrower and the Pledgors shall deliver to the Lender a good standing certificate or certificate of status, as applicable, for each Pledged Entity and copies of the certificate of formation, articles of incorporation, by-laws and operating agreement (or equivalent documents) of such Pledged Entity, as the Lender may reasonably require.