Membership Pledge definition
Examples of Membership Pledge in a sentence
To secure Borrower’s and Guarantor’s obligations to Bank, Guarantor pledged to Bank the membership interests held by Guarantor in Borrower pursuant to a Membership Pledge Agreement dated as of July 31, 2013 (as amended, modified, supplemented and restated from time to time, the “Pledge Agreement”).
The Holder shall have and may exercise any and all rights and remedies available at law or in equity, and all rights and remedies under the Purchase Agreement, Security Agreement or Membership Pledge.
Upon satisfaction of the conditions set forth in Section 6 below, the Boulder VC Guaranty and the Membership Pledge Consent Agreement shall automatically be terminated and be of no further force and effect.
Pursuant to the amended and restated Purchase Agreement, the funds advanced by HPL and evidenced by the HPL Note are deemed Cash Advance funds and shall be secured pursuant to the SHU Security Agreement, Membership Pledge and Ohana Security Agreement and to the same extent SPI and the SPI Note is secured by such security instruments.
If applicable, the Note, UCC-1 Financing Statement and Security Agreement (in the form of Exhibit B), together with Membership Pledge Agreements (in the form of Exhibit C) from each member of each Buyer, and any other ancillary loan documents required to perfect Seller’s security interest in the assets of the Station to the greatest extent permitted by the FCC.
CCTI has taken all necessary action to authorize the execution, delivery and performance of the Tollgate Membership Pledge and of each other document to which CCTI is a party or by which CCTI is bound in connection herewith.
The Seller shall not, except as otherwise provided herein or in the Membership Pledge Agreement, sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist, any lien upon or with respect to, its membership interests in the Purchaser.
SECTION TEN WAIVER BY SECURED PARTY The rights, powers, and remedies given to Secured Party by this Membership Pledge Agreement shall be in addition to all rights, powers, and remedies given to Secured Party by virtue of the Uniform Commercial Code or any other law of the State of Colorado.
All advances, charges, costs, and expenses, including reasonable attorneys' fees, incurred or paid by Secured Party in exercising any rights, powers, or remedies conferred on Secured Party by this Membership Pledge Agreement, or in the enforcement thereof, shall be secured hereunder and shall be paid to Secured Party by Debtor immediately and without demand, and with interest thereon at then highest prevailing interest rate set forth in the Notes.
Collectively, the US Security Agreement, the US Stock Pledge Agreement, the GWI Pledge Agreement, the Emons Pledge Agreement, the GWIC Stock Pledge Agreement, the Membership Pledge Agreement and all other instruments and documents including, without limitation, UCC financing statements, required to be executed or delivered pursuant to any US Security Document.