Common use of Additional Collateral – Existing Pledgee Subsidiaries Clause in Contracts

Additional Collateral – Existing Pledgee Subsidiaries. Each Pledgor shall (i) cause each issuer of Pledged Shares or Pledged Interests not to issue any stock or other securities in addition to or in substitution for the Pledged Shares or Pledged Interests issued by such issuer, except to such Pledgor and (ii) pledge hereunder pursuant to Section 6(d), promptly upon its acquisition (directly or indirectly) thereof, any and all additional shares of stock or other securities or interests of each issuer of Pledged Shares or Pledged Interests.

Appears in 2 contracts

Samples: Pledge Agreement (Standard Pacific Corp /De/), Pledge Agreement (Standard Pacific Corp /De/)

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Additional Collateral – Existing Pledgee Subsidiaries. Each Pledgor shall (i) cause each issuer of Pledged Shares or Pledged Interests not to issue any stock or other securities in addition to or in substitution for the Pledged Shares or Pledged Interests issued by such issuer, except to such Pledgor and (ii) pledge hereunder pursuant to Section 6(d7(d), promptly upon its acquisition (directly or indirectly) thereof, any and all additional shares of stock or other securities or interests of each issuer of Pledged Shares or Pledged Interests.

Appears in 2 contracts

Samples: Credit Agreement (Sunstone Hotel Investors, Inc.), Credit Agreement (Sunstone Hotel Investors, Inc.)

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