Covenants of the Pledgors Sample Clauses

Covenants of the Pledgors. The Pledgors hereby covenants to the Pledgee as follows: 9.1 Without prior written consent of the Pledgee, the Pledgors shall not encumber or allow others to encumber any new pledge or any other security interest on the Pledged Shares, and such pledge or any other security interest over all or part of the Pledged Shares without the aforesaid prior written consent shall be null and void. 9.2 Unless a prior written notice has been given to the Pledgee and the prior written consent of the Pledgee has been obtained, the Pledgors shall not transfer the Pledged Shares and all attempts of the Pledgors to transfer the Pledged Shares shall be null and void. The proceeds from a transfer of the Pledged Shares by the Pledgors shall be first used to repay the Secured Debts due to the Pledgee or be deposited with a third party designated by the Pledgee. 9.3 When any litigation, arbitration or any other claim arises which may have an adverse effect on the Pledgors, the Pledged Shares, or the interests of the Pledgee under the Transaction Agreements and the Agreement, the Pledgors undertakes to notify the Pledgee in writing as soon as possible and in a timely manner, and in accordance with any reasonable requests of the Pledgee, to take all necessary measures to protect the Pledgee’s security interests in the Pledged Shares. 9.4 The Pledgors shall not engage in or allow the occurrence of any conduct or act which may have an adverse effect on the interests of the Pledgee under the Transaction Agreement and the Agreement or on the Pledged Shares. The Pledgors hereby waive their pre-emptive right when the Pledgees exercise its pledgor’s right with respect to the Pledged Shares. 9.5 The Pledgors undertakes to take all the necessary measures and to execute all necessary documents (including without limitation to any supplementary agreement to the Agreement), in accordance with reasonable requirements of the Pledgee, to ensure that the Pledgees may exercise its pledgor’s right with respect to the Pledged Shares. 9.6 If any exercise of the pledge right hereunder gives rise to any transfer of any Pledged Shares, the Pledgors undertakes to take all necessary measures to effect such transfer.

Covenants of the Pledgors. Each 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. Each Pledgor further covenants and agrees that it shall not consent to or approve the issuance of any additional shares of beneficial interest in the Subtenants. Each Pledgor further covenants and agrees that, until the Secured Obligations are paid in full, 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 Parties determine are necessary or appropriate to continue or perfect the security interest granted hereunder.

Covenants of the Pledgors. 7.1 In addition to and without prejudice to anything else contained in the Finance Documents, the Pledgors undertake not to do or cause or permit to be done anything which will, or could be reasonably expected to adversely affect the security or the rights of the Pledgee hereunder, the value thereof or the rights of the Pledgee hereunder, or cause an Event of Default to occur, or which is in any way inconsistent with or depreciates, jeopardises or otherwise prejudices the Security Assets, the security or the rights of the Pledgee under the Finance Documents, and, further, to take such action as shall from time to time be necessary to maintain the security rights of the Pledgee hereunder. 7.2 In particular (and without prejudice to the generality of Clause 7.1 above) the Pledgors covenants with the Pledgee that as from the date hereof and at any time during the Security Period it, subject to Clause 8.1 below and except to the extent otherwise permitted by the terms of the Finance Documents (and, in such case, subject to the satisfaction of all applicable conditions thereto), without the prior written consent of the Pledgee: (i) shall not sell, dispose of (other than as required for the operation of the Bank Accounts, collection of Accounts Receivable Claims, the Inventory, the Machinery and Equipment and the Intercompany Loan claims in the ordinary course of their business), assign, transfer, further pledge, charge or encumber in any other manner any of the Security Assets or permit to exist any encumbrance or similar security interest on them, except for the charge created by this Agreement; (ii) shall at their own cost, warrant and defend the rights and interest of the Pledgee conferred by this Agreement over the Security Assets against the claims and demands of all persons whomsoever, subject always, to necessary authorisations from the Pledgee; (iii) shall not take any steps or knowingly permit or accept any steps to be taken which would or could reasonably be expected to materially and adversely affect the interests of the Pledgee in the Security Assets under this Agreement; (iv) shall promptly inform the Pledgee in writing of any new intercompany loan to be made available by it, and simultaneously with the entry into by it of the relevant intercompany loan agreement grant a first ranking pledge hereunder over (including the due and prompt perfection thereof) such intercompany loan in favour of the Pledgee in respect of the Secured Obligations; (v) sha...

Covenants of the Pledgors. 9 6.1 Sale of Collateral, Etc................................... 9 6.2 Delivery of Stock Certificates, Etc....................... 10 6.3

Covenants of the Pledgors. So long as this Agreement is in effect, the Pledgors covenant and agree to (a) not create, incur, assume, or permit to exist any Lien 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 Security Interest or as permitted under the Loan Documents; (b) except to the extent permitted by the Loan Documents, 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 the Pledgee; and (c) subject to the Agreed Security Principles, execute and deliver to the Pledgee, for the benefit of the Secured Parties, such documents in favor of the Pledgee and/or the Secured Parties, and do such things relating to the Security Interest as the Pledgee may reasonably request in order to protect and maintain the Security Interest and to protect and preserve the Pledgors’ and or the Pledgee’s title and interest in and to the Pledged Equity Interests, and pay all reasonable costs arising from or in connection therewith.

Covenants of the Pledgors. Each Pledgor hereby covenants and agrees from and after the date of this Agreement until the termination of this Agreement in accordance with the provisions of Section 6.3:

Covenants of the Pledgors. Each Pledgor covenants with the Collateral Agent that such Pledgor will provide to the Collateral Agent, promptly upon request, all information and evidence the Collateral Agent may reasonably request concerning the Collateral to enable the Collateral Agent to enforce the provisions hereof.

Covenants of the Pledgors. Each Pledgor covenants and agrees that it will take no action which would have the effect of materially impairing the position or interests of the Pledgee hereunder except as expressly permitted by this Agreement.

Covenants of the Pledgors. Each Pledgor shall: (a) perform, and cause Issuer to perform, as applicable, each and every covenant or obligation in any Organizational Documents of Issuer, this Agreement and the Loan Documents applicable to such Pledgor or Issuer; (b) prevent Issuer from issuing Future Rights or Proceeds, except for cash dividends and other distributions to be paid by Issuer to such Pledgor and other shareholders of Issuer, if and to the extent permitted by the Loan Documents; (c) upon receipt by such Pledgor of any material notice, report, or other communication from Issuer or any Holder relating to all or any part of the Collateral, deliver such notice, report or other communication to the Lender as soon as possible, but in no event later than three (3) days following the receipt thereof by such Pledgor; (d) not grant any Person other than the Lender or SBCC (to the extent permitted in the Subordination Agreement) “control” over any Collateral; (e) cause each Issuer to execute and deliver to the Lender, a consent to this Agreement substantially in the form of Exhibit B attached hereto; and (f) promptly upon receipt, deliver to the Lender any Pledged Interests issued by an Issuer.

Covenants of the Pledgors. 6.1 The Pledgors shall not, without the prior written consent of the Creditor, sell, exchange, release or abandon or otherwise dispose of, absolutely or by way of security, any of its right, title or interest in and to the Pledged Shares. 6.2 The Pledgors shall promptly furnish to the Creditor on request such information in respect of the Pledged Shares as the Creditor may from time to time require and shall promptly notify the Creditor of the occurrence of any event or circumstance which can be reasonably be foreseen and is likely to cause or constitute a breach of the warranties, undertakings and agreements contained herein.