Share Pledges Sample Clauses
A Share Pledges clause establishes the terms under which a shareholder can use their shares as collateral for a loan or other financial obligation. Typically, this clause outlines the process for creating a pledge, the rights of the pledgee (lender), and any restrictions or approvals required from the company or other shareholders before shares can be pledged. For example, it may require board consent or notification to other shareholders before a pledge is made. The core function of this clause is to regulate and control the use of company shares as security, thereby protecting the interests of the company and other shareholders from unwanted changes in share ownership or control in the event of default.
Share Pledges. Borrower shall, within sixty (60) days of the Closing Date, cause to be delivered to Collateral Agent such documents and agreements as Collateral Agent reasonable deems necessary to perfect Collateral Agent’s security interest in Shares of Borrower’s Foreign Subsidiaries, except to the extent (i) prohibited by applicable law, and (ii) prohibited by the documents governing such Shares.
Share Pledges. With respect to share pledges over Equity Interests, unless required by applicable law as the only means of procuring a security interest, but provided also that the Security Trustee shall not be required to accept such transfer if it may be prejudiced thereby, the taking of security shall not require transfer of legal title to the pledged Equity Interests to the Security Trustee. Until the occurrence of an Enforcement Event, (a) the pledgor of Equity Interests constituting New Security shall be permitted to exercise voting rights with respect to the Equity Interests pledged in such manner as it sees fit, provided that such exercise would not constitute a default under any Relevant Document; (b) the pledgor of the Equity Interests constituting the New Security shall be permitted to receive and retain dividends and other distributions on such Equity Interests except to the extent otherwise required by Section 4.03 (Asset Sales); and (c) to the extent that legal title to the pledged Equity Interests is vested in the Security Trustee, the documentation of the pledge of such Equity Interests shall provide that the Security Trustee, as the holder of such Equity Interests, shall (subject to the terms of the Security Trust and Intercreditor Deed) be required to pay all dividends and distributions on such Equity Interests and exercise all voting and other rights with respect to such Equity Interests in such manner as the pledgor of such Equity Interests may reasonably direct, provided that any such action by the Security Trustee would not result in a default under any Relevant Document.
Share Pledges. See 2.1(b)(ii).
Share Pledges. ADV and Beacon shall, without further consideration, cooperate with the Investors and take all actions to release, or cause to be released, the Share Pledges on and subject to Closing and the issuance of Ordinary Shares pursuant to the ADV’s exercise of its conversion right under the Note. Three (3) days prior to the Closing, ADV and Beacon shall execute, deliver and file all filled, pre-signed or otherwise required agreements, certificates, instruments, letters or any other documents to effect the release of the Share Pledges, for Company’s legal counsel to hold in escrow until being simultaneously released upon the issuance of Ordinary Shares pursuant to the ADV’s exercise of its conversion right under the Note and Section 3 herein. In the event this Agreement is terminated, the Company shall procure that all documents held in escrow pursuant to the foregoing sentence shall be immediately returned to ADV.
Share Pledges. Subject to the Agreed Security Principles, each Loan Party agrees that it shall promptly (but in any event within 45 days after receipt by such Loan Party) deliver to the Collateral Agent all Equity Interests of any Subsidiary represented by one or more share certificates (duly endorsed for transfer) together with powers of attorney (endorsed in blank), approvals of directors, shareholders or others as required for the pledge of such Equity Interests, and other supporting documents as the Collateral Agent shall reasonably request.
Share Pledges. In the event that in any one year Ratio Period ("THE DETERMINING RATIO PERIOD"):
41.1.1. Partner shall (as of the end of the Determining Ratio Period) have made payment under the Facilities to the Participating Banks (disregarding for this purpose, any repayment or prepayment capable of being reborrowed under this Agreement) of an amount equal to half the amount of the Total Commitments; and
41.1.2. (a) if the Determining Ratio Period falls during the period 2003-2007 (inclusive), each of the Facility Debt Cover Ratio, Total Debt Cover Ratio, Fixed Charge Coverage Ratio and ADSCR for the one year Ratio Period immediately preceding the Determining Ratio Period was not less than 135% (one hundred and thirty-five percent) of such minimum ratio required for such immediately preceding one year Ratio Period pursuant to the table in clause 16.32 below; or
Share Pledges. A Brazilian law first priority quota pledge over shares in UP Offshore Brazil granted by UP Offshore Uruguay and UP Offshore Bahamas.
Share Pledges. Subject to the Agreed Security Principles, each MDA Obligor agrees that it shall promptly (but in any event within 45 days after receipt by such MDA Obligor) deliver to the Collateral Agent all Equity Interests of any Subsidiary represented by one or more share certificates (duly endorsed for transfer) together with powers of attorney (endorsed in blank), approvals of directors, shareholders or others as required for the pledge of such Equity Interests, and other supporting documents as the Collateral Agent shall reasonably request.
Share Pledges. Subject to clause 34.2 (Release of Share Pledges) below, Partner shall procure that at all times not less than 51% (fifty-one percent) of Partner's issued share capital (including, for this purpose, any securities convertible or realisable into shares of Partner), from time to time, are pledged by the Chargors under the Share Pledges and Partner shall not issue any such shares or securities, unless immediately prior to such issue, the number of shares pledged by the Chargors as aforesaid is such that immediately after such issue, Partner shall comply with the provisions of this clause 16.38.
Share Pledges. (i) A New York law first priority share pledge over shares in Hanford Shipping, Inc. ("Hanford") granted by Boise Trading Inc.
(ii) A New York law first priority share pledge over shares in Boise Trading Inc. granted by UP Offshore Bahamas.