Common use of As to Pledged Shares Clause in Contracts

As to Pledged Shares. In the case of any Pledged Shares constituting Collateral, all such Pledged Shares are duly authorized and validly issued, fully paid and nonassessable, and constitute all of the issued and outstanding Capital Securities of each Pledged Share Issuer. No Pledgor has any Subsidiaries (other than Unrestricted Subsidiaries) of which it directly owns any Capital Securities that are not pledged hereunder. All Pledged Shares are certificated, have been delivered to the Administrative Agent with stock powers, accompanied by undated instruments of transfer duly executed in blank and the Administrative Agent has "control" (as defined in the U.C.C.) of such Pledged Shares.

Appears in 1 contract

Samples: Pledge Agreement (Sterling Chemical Inc)

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As to Pledged Shares. In the case of any Pledged Shares constituting Collateral, all such Pledged Shares are duly authorized and validly issued, fully paid and nonassessable, and constitute all of the issued and outstanding Capital Securities of each the Pledged Share Issuer. No The Pledgor has any no Subsidiaries (other than Unrestricted Subsidiaries) of which it directly owns any Capital Securities that are not pledged hereunderother than the Pledged Share Issuer. All Pledged Shares are certificated, and have been delivered to the Administrative Agent with stock powers, accompanied by undated instruments of transfer duly executed in blank and the Administrative Agent has "control" (as defined in the U.C.C.) of such Pledged Shares.

Appears in 1 contract

Samples: Sterling Chemical Inc

As to Pledged Shares. In the case of any Pledged Shares constituting Collateral, all such Pledged Shares are duly authorized and validly issued, fully paid and nonassessablenon-assessable, and constitute all of the issued and outstanding Capital Securities of each Pledged Share IssuerIssuer listed on Attachment I hereto. No The Pledgor has any no Subsidiaries (other than Unrestricted Subsidiaries) of which it directly owns any Capital Securities that are not pledged hereunderother than the Pledged Share Issuers. All Pledged Shares are certificated, and have been delivered to the Administrative Agent with stock powers, accompanied by undated instruments of transfer duly executed in blank and the Administrative Agent has "control" (as defined in the U.C.C.) of such Pledged Shares.

Appears in 1 contract

Samples: Parent Pledge Agreement (Sterling Chemical Inc)

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As to Pledged Shares. In the case of any Pledged Shares constituting Collateral, all such Pledged Shares are duly authorized and validly issued, fully paid and nonassessablenon-assessable, and constitute all of the issued and outstanding Capital Securities of each Pledged Share Issuer. No Pledgor has any Subsidiaries (other than Unrestricted Subsidiaries) of which it directly owns any Capital Securities that are not pledged hereunderother than the Pledged Share Issuers, Foreign Restricted Subsidiaries or Unrestricted Subsidiaries. All Pledged Shares are certificated, have been delivered to the Administrative Agent with stock powers, accompanied by undated instruments of transfer duly executed in blank and the Administrative Agent has "control" (as defined in the U.C.C.) of such Pledged Shares.

Appears in 1 contract

Samples: Obligor Pledge Agreement (Sterling Chemical Inc)

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