Common use of Covenants of the Pledgor Clause in Contracts

Covenants of the Pledgor. The Pledgor hereby covenants and agrees that it shall not sell, convey or otherwise dispose of any of the Pledged Collateral nor create, incur or permit to exist any pledge, mortgage, lien, charge, encumbrance or any security interest whatsoever with respect to any of the Pledged Collateral or the proceeds thereof, other than the liens on and security interests in the Pledged Collateral created hereby. The Pledgor further covenants and agrees that it shall not consent to or approve the issuance of any additional shares of beneficial interest in the Tenant. The Pledgor further covenants and agrees that, until the Secured Obligations are paid in full, the Pledgor shall not change the state of its incorporation or its corporate name without providing the Secured Parties with thirty (30) days' prior written notice and making all filings and taking all such other actions as the Secured Party determines are necessary or appropriate to continue or perfect the security interest granted hereunder.

Appears in 4 contracts

Samples: Pledge of Shares of Beneficial Interest Agreement (Five Star Quality Care Inc), Pledge of Shares of Beneficial Interest Agreement (Five Star Quality Care Inc), Pledge of Shares of Beneficial Interest Agreement (Five Star Quality Care Inc)

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Covenants of the Pledgor. The Pledgor hereby covenants and agrees that it shall not sell, convey or otherwise dispose of any of the Pledged Collateral nor create, incur or permit to exist any pledge, mortgage, lien, charge, encumbrance or any security interest whatsoever with respect to any of the Pledged Collateral or the proceeds thereof, other than the liens on and security interests in the Pledged Collateral created hereby. The Pledgor further covenants and agrees that it shall not consent to or approve the issuance of any additional shares of beneficial interest in the Tenant. The Pledgor further covenants and agrees that, until the Secured Obligations are paid in full, the Pledgor shall not change the state of its incorporation or its corporate name without providing the Secured Parties with thirty (30) days' prior written notice and making all filings and taking all such other actions as the Secured Party determines are necessary or appropriate to continue or perfect the security interest granted hereunder.

Appears in 2 contracts

Samples: Pledge of Shares of Beneficial Interest Agreement (Five Star Quality Care Inc), Pledge of Shares of Beneficial Interest Agreement (Five Star Quality Care Inc)

Covenants of the Pledgor. The Pledgor hereby covenants and agrees that it shall not sell, convey or otherwise dispose of any of the Pledged Collateral nor create, incur or permit to exist any pledge, mortgage, lien, charge, encumbrance or any security interest whatsoever with respect to any of the Pledged Collateral or the proceeds thereof, other than the liens on and security interests in the Pledged Collateral created hereby. The Pledgor further covenants and agrees that it shall not consent to or approve the issuance of any additional shares of beneficial interest in the TenantSubtenants. The Pledgor further covenants and agrees that, until the Secured Obligations are paid in full, the such Pledgor shall not change the state of its incorporation or its corporate name without providing the Secured Parties with thirty (30) days' prior written notice and making all filings and taking all such other actions as the Secured Party determines are necessary or appropriate to continue or perfect the security interest granted hereunder.

Appears in 1 contract

Samples: Pledge of Shares of Beneficial Interests Agreement (Five Star Quality Care Inc)

Covenants of the Pledgor. The Pledgor hereby covenants and agrees that it shall not sell, convey or otherwise dispose of any of the Pledged Collateral nor create, incur or permit to exist any pledge, mortgage, lien, charge, encumbrance or any security interest whatsoever with respect to any of the Pledged Collateral or the proceeds thereof, other than the liens on and security interests in the Pledged Collateral created hereby. The Pledgor further covenants and agrees that it shall not consent to or approve the issuance admission of any additional shares of beneficial interest new member in the TenantPledged Tenants. The Pledgor further covenants and agrees that, until the Secured Obligations are paid in full, the Pledgor shall not change the state of its incorporation organization or its corporate name without providing the Secured Parties Party with thirty (30) days' prior written notice and making all filings and taking all such other actions as the Secured Party determines are necessary or appropriate to continue or perfect the security interest granted hereunder.

Appears in 1 contract

Samples: Pledge Agreement (Five Star Quality Care Inc)

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Covenants of the Pledgor. The Pledgor hereby covenants and agrees that it shall not sell, convey or otherwise dispose of any of the Pledged Collateral nor create, incur or permit to exist any pledge, mortgage, lien, charge, encumbrance or any security interest whatsoever with respect to any of the Pledged Collateral or the proceeds thereof, other than the liens on and security interests in the Pledged Collateral created hereby. The Pledgor further covenants and agrees that it shall not consent to or approve the issuance admission of any additional shares new member in either of beneficial interest in the Entities comprising the Tenant. The Pledgor further covenants and agrees that, until the Secured Obligations are paid in full, the Pledgor shall not change the state of its incorporation organization or its corporate name without providing the Secured Parties Party with thirty (30) days' prior written notice and making all filings and taking all such other actions as the Secured Party determines are necessary or appropriate to continue or perfect the security interest granted hereunder.

Appears in 1 contract

Samples: Pledge Agreement (Five Star Quality Care Inc)

Covenants of the Pledgor. The Pledgor hereby covenants and agrees that it shall not sell, convey or otherwise dispose of any of the Pledged Collateral nor create, incur or permit to exist any pledge, mortgage, lien, charge, encumbrance or any security interest whatsoever with respect to any of the Pledged Collateral or the proceeds thereof, other than the liens on and security interests in the Pledged Collateral created hereby. The Pledgor further covenants and agrees that it shall not consent to or approve the issuance of any additional shares of beneficial interest company interests in the Tenant. The Pledgor further covenants and agrees that, until the Secured Obligations are paid in full, the Pledgor shall not change the state of its incorporation or its corporate name without providing the Secured Parties Party with thirty (30) days' prior written notice and making all filings and taking all such other actions as the Secured Party determines are necessary or appropriate to continue or perfect the security interest granted hereunder.

Appears in 1 contract

Samples: Pledge of Tenant’s Company Interests Agreement (Five Star Quality Care Inc)

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