Delivery of Stock Collateral. The Pledgor shall deliver immediately to the Lender (a) the certificates representing the shares of the Stock, (b) immediately upon its receipt of any additional (or fewer) shares of stock in the Corporation, the certificates representing such additional shares of stock, (c) all instruments, items of payment and other Stock Collateral received by the Pledgor, and (d) executed irrevocable, undated and blank stock powers substantially in the form attached to this Agreement as Exhibit A for all of the assigned shares of stock. All Stock Collateral at any time received or held by the Pledgor shall be received and held by the Pledgor in trust for the benefit of the Lender, and shall be kept separate and apart from, and not commingled with, the Pledgor’s other assets.
Appears in 4 contracts
Samples: Pledge, Assignment and Security Agreement (Argan Inc), Pledge, Assignment and Security Agreement (Argan Inc), Pledge, Assignment and Security Agreement (Argan Inc)
