Definition of Pledgor Shares


Pledgor Shares means, as of the date hereof, an aggregate of 10,000,000 shares owned by the Pledgor.

Examples of Pledgor Shares in a sentence

Pledgee acknowledges that the Pledgor Shares are not registered under the Securities Act of 1933, as amended.
Within five days after Pledgee's determination to exercise its rights under the APA and the Right of First Refusal to purchase all or any portion of the Pledged Shares (the "Purchased Shares"), the Pledgee shall give notice of the pledge of the Pledgor Shares pursuant to the terms hereof, in the form of the Notice of Pledge attached hereto as Exhibit A, to the Company and the Company's stock registrar/transfer agent of record, currently Pacific Stock Transfer Company.
Beyond the exercise of reasonable care to assure the safe custody of the Pledgor Shares while held hereunder, the Pledgee shall have no duty or liability to preserve rights pertaining thereto and shall be relieved of all responsibility for the Pledgor Shares upon surrendering it or tendering surrender of it to the Pledgor in accordance with the terms hereof.
For value received, the Pledgors hereby grant Secured Party a security interest in certain shares of common stock of Webdigs owned by the Pledgors and aggregating 4,510,940 shares (such shares of common stock are hereinafter referred to as the "Collateral"), as indicated in the table below: Pledgor Shares Comprising Collateral Robert A. Buntz, Jr.
The Pledgee shall deliver to the Pledgor, upon termination of this Agreement, at the Pledgee's expense, such of the Pledgor Shares as shall not have been purchased by Pledgee pursuant to this Agreement.