Common use of Covenants of Pledgors Clause in Contracts

Covenants of Pledgors. So long as this Agreement is in effect, the Pledgors covenant and agree that they (a) shall defend the right, title and interest of Pledgees in and to the Pledged Equity Interests against the claims and demands of any Person other than Pledgees; (b) shall not create, incur, assume, or permit to exist any Lien or security interest or option in favor of, or any claim of any Person with respect to, any of the Pledged Equity Interests, whether now held or hereafter subscribed, except for the first priority security interest created herein; (c) shall not sell, transfer, assign, pledge, deliver, transfer in trust, grant, usufruct or otherwise dispose of, or grant any option with respect to, any such Pledged Equity Interests or any interest therein without the prior written consent of Pledgees; (d) shall execute and deliver to Pledgees such documents in favor of Pledgees and do such things relating to the first priority security interest created herein as Pledgees may reasonably request in order to protect and maintain the first priority security interest and to protect and preserve the Pledged Equity Interests, and pay all reasonable costs arising from or in connection therewith; (e) shall pay any and all taxes, assessments, and other charges of any nature which may be imposed, levied, or assessed against or with respect to the Pledged Equity Interests or in connection with any Distributions (other than taxes payable by Issuer in connection with such Distributions); and (f) shall cause Issuer to pay taxes payable by Issuer in connection with such Distributions.