Pledge Party definition
Examples of Pledge Party in a sentence
Within the term of Pledge, Party A is entitled to collect the dividends of the Pledged Equity Interests.
By execution and delivery of this Agreement, Lender, each Pledge Party accepts, for itself and in respect of its property, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts.
Lender and each Pledge Party agree that any legal action or proceeding by or against such Pledge Party or with respect to or arising out of this Agreement or any other Credit Document may be brought in or removed to the courts of the State of New York, the County of New York, or the United States of America in the Southern District of New York, as Lender may elect.
Lender and each Pledge Party irrevocably consent to the service of process out of any of the aforementioned courts in any manner permitted by law.
If, pursuant to applicable Legal Requirements, prior notice of any action described in Section 7.1 is required to be given to any Pledge Party, the Pledge Parties hereby acknowledge and agree that the minimum time required by such applicable law, or if no minimum is specified, 10 days, shall be deemed a reasonable notice period.
No action, litigation, suit, proceeding or investigation before or by any court, arbitrator or other Governmental Authority is pending or, to Pledgor’s knowledge, threatened in writing with respect to the Collateral or against any Pledge Party which (i) purports to affect or pertain to this Agreement or any other Credit Document, or any of the transactions contemplated hereby or thereby, or (ii) could reasonably be expected to have a material adverse effect on the Collateral.
Nothing in this Agreement, expressed or implied, is intended or shall be construed to confer upon, or give to any Person, other than each Pledge Party and the Lender any security, rights, remedies or claims, legal or equitable, under or by reason hereof, or any covenant or condition hereof.
This Agreement shall create a continuing pledge of the Collateral and shall (a) remain in full force and effect until the payment and performance in full of the Obligations (other than unasserted, contingent Obligations that by their terms survive the termination of the Credit Documents); (b) be binding upon each Pledge Party and its respective successors and assigns; and (c) inure to the benefit of Lender and its permitted successors and assigns.
Each Pledge Party is in compliance with all applicable laws, except noncompliance which could not reasonably be expected to have a Material Adverse Effect, and no written notices of any material violation of any applicable law relating to the Project have been received by such Pledge Party.
This Agreement and the covenants and agreements herein contained are and shall be held to be for the sole and exclusive benefit of each Pledge Party and Lender.