Common use of Covenants with Respect to Collateral Clause in Contracts

Covenants with Respect to Collateral. The Pledgor agrees with Secured Party with respect to the Collateral as follows: (a) Pledgor hereby transfers the Pledged Securities to Secured Party with proper instruments of assignment duly executed. The Pledgor covenants that it will cause any additional securities issued to or received by the Pledgor with respect to any of the Collateral, whether for value paid by the Pledgor or otherwise, to be forthwith deposited and pledged hereunder, in each case accompanied by proper instruments of assignment duly executed in blank by Pledgor. (b) From and after the date hereof, Pledgor (i) shall not and shall not attempt to encumber, subject to any further pledge or security interest, sell, transfer or otherwise dispose of any of the Collateral or any interest therein; (ii) shall not permit or suffer any of the Collateral to be attached or levied upon or seized in any legal proceedings, or held by virtue of any lien or distress; and (iii) shall pay promptly all taxes and assessments upon any of the Collateral.

Covenants with Respect to Collateral. The Pledgor agrees with Secured Party with respect to the Collateral as follows: (a) Pledgor hereby transfers the Pledged Securities to Secured Party with proper instruments of assignment duly executed. The Pledgor covenants that it he will cause any additional securities issued to or received by the Pledgor with respect to any of the Collateral, whether for value paid by the Pledgor or otherwise, to be forthwith deposited and pledged hereunder, in each case accompanied by proper instruments of assignment duly executed in blank by Pledgor. (b) From and after the date hereof, Pledgor (i) shall not and shall not attempt to encumber, subject to any further pledge or security interest, sell, transfer or otherwise dispose of any of the Collateral or any interest therein; (ii) shall not permit or suffer any of the Collateral to be attached or levied upon or seized in any legal proceedings, or held by virtue of any lien or distress; and (iii) shall pay promptly all taxes and assessments upon any of the Collateral.