Common use of BURDENING OF AFFECTED SHARES ISSUED BY THE COMPANY Clause in Contracts

BURDENING OF AFFECTED SHARES ISSUED BY THE COMPANY. 9.1. After the Lock-Up Period set forth in Section VII (Lock-Up), the Shareholders may create a pledge, guarantee or chattel mortgage on the Affected Shares issued by the Company, which shall only be valid and effective if the lender represents expressly and in writing that it knows all the provisions set forth in this Agreement — LF and which shall have regard for all the rules set forth herein, primarily as to the Preemptive Right set forth in Section VIII, when applicable, which shall be complied with in any case. The pledge, guarantee or chattel mortgage may not guarantee to the lender political rights of any kind with respect to the Company. Notwithstanding and without prejudice to any of the provisions contained herein and in this Shareholders Agreement it is clear that during the Lock-Up period the Affected Shares may be the subject matter of pledge in favor of top rate financial institutions, provided that (i) the guaranteed obligations, principal and ancillary, have their respective due dates only after the termination of the Lock Up; and (ii) the lender contractually agrees that the foreclosure of the pledge, whether judicial or extrajudicial, may only be begun after the termination of the Lock-Up period, though there may be acceleration as a result of a legal or contractual provision. Any pledge, guarantee or chattel mortgage that may be levied on the Affected Shares shall be immediately informed to the Company which, in turn, shall notify all the Shareholders as to the occurrence of the lien.

BURDENING OF AFFECTED SHARES ISSUED BY THE COMPANY. 9.1. After the Lock-Up Period set forth in Section VII (Lock-Up), the Shareholders may create a pledge, guarantee or chattel mortgage on the Affected Shares issued by the Company, which shall only be valid and effective if the lender represents expressly and in writing that it knows all the provisions set forth in this Agreement — LF AG and which shall have regard for all the rules set forth herein, primarily as to the Preemptive Right set forth in Section VIII, when applicable, which shall be complied with in any case. The pledge, guarantee or chattel mortgage may not guarantee to the lender political rights of any kind with respect to the Company. Notwithstanding and without prejudice to any of the provisions contained herein and in this Shareholders Agreement it is clear that during the Lock-Up period the Affected Shares may be the subject matter of pledge in favor of top rate financial institutions, provided that (i) the guaranteed obligations, principal and ancillary, have their respective due dates only after the termination of the Lock Up; and (ii) the lender contractually agrees that the foreclosure of the pledge, whether judicial or extrajudicial, may only be begun after the termination of the Lock-Up period, though there may be acceleration as a result of a legal or contractual provision. Any pledge, guarantee or chattel mortgage that may be levied on the Affected Shares shall be immediately informed to the Company which, in turn, shall notify all the Shareholders as to the occurrence of the lien.