Common Contracts
2 similar Pledge and Security Agreement contracts by Cornerworld Corp
ContractPledge and Security Agreement • February 27th, 2009 • Cornerworld Corp • Transportation services • New York
PLEDGE AND SECURITY AGREEMENT, dated as of February 23, 2009 (as amended, supplemented or modified from time to time, this “Agreement”), made by Cornerworld Corporation (“Parent”), Cornerworld Inc. (“CW”) and Enversa Companies LLC (“Enversa”) in favor of Ned B. Timmer (“Secured Party”). Parent, CW and Enversa are collectively referred to herein as “Grantor”. Capitalized terms used but not defined herein shall have the meanings given such terms in the Debenture (as defined below).
RECITALSPledge and Security Agreement • February 27th, 2009 • Cornerworld Corp • Transportation services • New York
Pursuant to (i) the Subscription Agreement dated as of February 23, 2009 (as amended, supplemented or modified from time to time, the “Subscription Agreement”) by and among Cornerworld Corporation (“Parent”) and Secured Party and (ii) the Promissory Note dated as of February 23, 2009 (as amended, supplemented or modified from time to time, the “Promissory Notes”) issued by Parent to Secured Party; Secured Party has made the loans to Parent.
