Examples of Pledged Stock Collateral in a sentence
All proceeds of any such transaction (whether or not consented to by Lender) shall be paid directly to Lender as Pledged Stock Collateral hereunder, and if delivered to Pledgor, shall be received by Pledgor in trust for Lender's benefit and immediately delivered to Lender in the exact form delivered to Pledgor (with appropriate endorsements and instruments of assignment in favor of Lender) to be held and applied as Pledged Stock Collateral under this Agreement.
Borrower hereby agrees to execute such financing --------------------- statements as the Corporation may request, from time to time, with respect to the Pledged Stock Collateral, and take such action as may be required to perfect and keep perfected the security interest in the Pledged Stock Collateral created hereby, and Borrower hereby authorizes the Corporation to execute as its attorney in fact and file any such financing statements on Borrower's behalf.
Borrower agrees that he will not xxxx, xssign, transfer, exchange, or otherwise dispose of, or grant any option or right with respect to, the Pledged Stock Collateral, nor will it create, incur or permit to exist any lien, security interest therein, change or encumbrance with respect to any of the Pledged Stock Collateral, any interest, or any proceeds thereof except as permitted by this Agreement.
This Agreement shall be binding --------------------------------------- upon and inure to the benefit of the parties hereto and shall inure to the benefit of the Corporation its successors and assigns and nothing herein is intended or shall be construed to give any other Person any right, remedy or claim under, to or in respect of this Agreement or any Pledged Stock Collateral.
Each of Borrower and the Corporation agrees that ---------------------- the parties hereto may supplement, amend or superseded this Agreement with a collateral agreement among the Corporation, Borrower and a third party bank, as trustee, pursuant to which such third party bank shall accept and maintain possession of the Pledged Stock Collateral until such time as the Secured Obligations shall have been satisfied.
This Agreement shall terminate when all Obligations secured hereby have been fully paid and performed, at which time Lender shall reassign and redeliver (or cause to be reassigned and redelivered) to the Pledgor, or to such person or persons as the Pledgor shall designate, such of the Pledged Stock Collateral (if any) as shall not have been sold or otherwise applied by Lender pursuant to the terms hereof and shall still be held hereunder, together with appropriate instruments of reassignment and release.
The Pledgor shall deliver to Lender all original certificates representing the Pledged Stock Collateral issued in the name of the Pledgor, endorsed or assigned in blank (or accompanied by stock powers or other instruments of transfer requested by Lender, duly executed and delivered by Pledgor) in favor of Lender.
The original certificates representing all Pledged Stock Collateral shall be held by Lender.
This Agreement shall terminate --------------------------------- simultaneously with the payment in full of all principal and interest due under the Promissory Note and, upon such termination, any Pledged Stock Collateral held hereunder shall be released and delivered to Borrower or at his direction.
The Required Holders may direct, at any time, the Collateral Agent to deliver all Collateral and Pledged Stock Collateral then in its possession to an institutional trustee selected by such Required Holders, and the Collateral Agent shall, upon receipt of such direction, promptly deliver all of such Collateral and Pledged Stock Collateral to such institutional trustee and shall thereafter be discharged from all of its obligations hereunder and under the other Financing Documents to which it is a party.