Share Pledge 2 definition
Share Pledge 2 means the share pledge agreement for the second priority pledge of all of the shares (and any dividends and distributions in respect of such shares) in the Ship Owning Borrowers to be executed by OBO Holdings Ltd. in favour of the Lender, in form and substance acceptable to the Lender and always subject to the approval by the first priority pledgee over such shares.
Share Pledge 2 means the share pledge agreement for the first priority pledge of all of the shares (and any dividends and distributions in respect of such shares) in the Borrowers (other than OBO Holdings Ltd.) dated 14 December 2009 and made between OBO Holdings Ltd. and the Agent (on behalf of the Finance Parties and the Swap Bank), in form and substance acceptable to the Agent (on behalf of the Lenders and the Swap Bank).”