DISTRIBUTION OF PLEDGED STOCK. Upon enforcement of this Pledge Agreement following the occurrence of an Event of Default under this Pledge Agreement, the Loan Agreement, or the Notes, the proceeds of the Pledged Stock shall be applied to the Obligations Secured Hereby in such order and manner as Lender may determine. In the event such monies shall be insufficient to pay all of the Obligations Secured Hereby, Pledgor shall be liable to Lender for any deficiency therein.
Appears in 5 contracts
Samples: Pledge Agreement (German American Bancorp, Inc.), Loan and Subordinated Debenture Purchase Agreement (Old Second Bancorp Inc), Pledge and Security Agreement (Privatebancorp Inc)
DISTRIBUTION OF PLEDGED STOCK. Upon enforcement of this Pledge Agreement following the occurrence of an Event of Default under this Pledge Agreement, the Loan Agreement, or the Notes, the proceeds of the Pledged Stock shall be applied to the Obligations Secured Hereby in such order and manner as the Lender may determine. In the event such monies shall be insufficient to pay all of the Obligations Secured Hereby, the Pledgor shall be liable to the Lender for any deficiency therein.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Independent Bank Group Inc), Loan and Subordinated Debenture Purchase Agreement (Gateway Financial Holdings Inc)
