Pledgees Sample Clauses
The 'Pledgees' clause defines the rights and obligations of parties who hold a security interest in pledged assets as collateral for a debt or obligation. It typically outlines who qualifies as a pledgee, the scope of their rights over the pledged property, and the procedures they must follow to enforce their security interest, such as taking possession or selling the collateral in case of default. This clause ensures that the interests of the pledgee are protected and clarifies the process for recovering debts, thereby reducing uncertainty and risk for both parties involved in the transaction.
Pledgees. A shareholder whose shares are pledged shall be entitled to vote such shares in person or by proxy, until the shares have been transferred into the name of the pledgee, and thereafter the pledgee or his or her nominee shall be entitled to vote the shares so transferred.
Pledgees. The Pledgees may employ agents and attorneys-in-fact in -------- connection herewith and shall not be responsible for the negligence or misconduct of any such agent or attorneys-in-fact selected by it in good faith, provided, however, that this section 5.6 shall not apply to action taken by agents or attorneys-in-fact that creates any Lien on the Collateral or results in a sale of the Collateral.
Pledgees. ALFRED M. BAYER
Pledgees