Pledgors definition
Examples of Pledgors in a sentence
The Administrative Agent shall have received an opinion or opinions of counsel for the Credit Parties, the Pledgors and GPM Empire, dated the Second Amendment Effective Date and addressed to the Administrative Agent and the Lenders, in form and substance acceptable to the Administrative Agent.
Original certificates of good standing, existence or its equivalent with respect to each Credit Party, each Pledgor and GPM Empire certified as of a recent date by the appropriate Governmental Authorities of the state of incorporation or organization and each other state in which assets owned or leased by any of the Credit Parties, Pledgors or GPM Empire are located or in which the failure to so qualify and be in good standing could reasonably be expected to have a Material Adverse Effect.
The Administrative Agent shall have completed all legal, tax, accounting, business, financial, environmental, title, and ERISA due diligence concerning the Borrower and its Subsidiaries, the Pledgors and their Subsidiaries, and GPM Empire in each case in scope and with results in all respects satisfactory to the Administrative Agent in its sole discretion.
As credit support for the Secured Obligations, on or before the Closing Date, the Pledgors as of the Closing Date shall each execute and deliver to the Collateral Agent the Pledge Agreement, pursuant to which each of them shall pledge to the Collateral Agent, for the ratable benefit of the Secured Parties, all of the Collateral of such Pledgor described therein.