Shares Pledge definition

Shares Pledge means the first priority pledge of the shares of and in each Borrower to be executed by the Shareholder in favour of the Security Trustee in such form as the Agent and the Majority Lenders may require in their sole discretion and in the plural means all of them;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Shares Pledge means a pledge of the Equity Interests of each of the Borrowers in the form set out in Appendix I hereto;

Shares Pledge means a deed creating security over the share capital of each Borrower in favour of the Security Trustee in the Agreed Form;

Examples of Shares Pledge in a sentence

• The Lenders agree that upon the drawdown of the final Advance in respect of a Tranche, and receipt of a Negative Pledge in respect of the Owner of the Vessel financed by that Tranche, the Security Trustee shall (provided no Event of Default has occurred) release the Shares Pledge in respect of that Owner.

• Any actual cost related to the setting of the Shares Pledge hereunder, including (without limitation) stamp duty, any other tax and all legal fees, shall be borne by each Party respectively.

• The Shares Pledge hereunder is a continuous guarantee, which will remain in force until all Contractual Obligations are fully performed or all Secured Debts are fully repaid.

• SAGA III is the holder of record and beneficially owns 3,651,555,020 IC Shares, which as of the date hereof are free and clear from any and all liens and encumbrances, other than the Shareholders Agreement and the IC Shares Pledge Agreements listed in Part B of Schedule 2.3 hereto, and on the Price Payment Date (and prior to the Price Payment) will be free and clear from any and all liens and encumbrances, other than the Shareholders Agreement.

• Upon the terms and subject to the conditions of this Agreement, including a release of the Purchased Shares Pledge by Seller and the receipt of the Credit Facility Borrowings by the Company, at the Closing, Seller shall sell, assign, transfer and convey, or cause to be sold, assigned, transferred and conveyed, to the Company, and the Company shall purchase, acquire and accept, the Purchased Shares.

More Definitions of Shares Pledge

Shares Pledge means the first priority pledge of the shares of and in each Borrower to be executed by Aegean Sea in favour of the Security Trustee in such form as the Lenders may require in their sole discretion and in the plural means all of them;

Shares Pledge means, in relation to a Borrower, a deed creating security over the share capital of that Borrower in the Agreed Form and, in the plural, means both of them;

Shares Pledge means, in relation to each Guarantor, a deed creating security in respect of the issued share capital of that Guarantor executed or to be executed by the Shareholder in favour of the Security Trustee in the Agreed Form and “Shares Pledges” means all of them;

Shares Pledge means a pledge of the Equity Interests of each Guarantor, in the form set out in Appendix J;

Shares Pledge means the first priority pledge of the shares of and in each Owner required to be executed at any time under clause 8.1.19 by the Shareholder in favour of the Security Trustee and/or a Lender in such form as the Agent and the Majority Lenders may require in their sole discretion and in the plural means all of them;

Shares Pledge means the pledge of the shares of and in the Borrower to be executed by the Corporate Guarantor in favour of the Lender, to be in such form as the Lender may require;

Shares Pledge means a pledge of the Equity Interests of the Borrower and each Owner Guarantor, as the case may be, in Agreed Form.