Equity Interests Pledge Clause Samples

Equity Interests Pledge. If the proposed project is owned by a Wholly-Owned Subsidiary, the owner(s) of such Wholly-Owned Subsidiary shall have delivered to the Agent a pledge of the Stock in such Wholly-Owned Subsidiary, substantially in the form of EXHIBIT J hereto, together with financing statements or Stock certificates (as applicable), and such legal opinions or other evidence as the Agent may require to assure or confirm that the Agent holds for the benefit of the Banks a duly perfected, first-priority Lien on such Stock. Under no circumstances shall the Agent or the Banks be deemed to have a lien on any Borrowing Base Property prior to the time a first priority Mortgage and first priority assignment of leases and rents encumbering such property have been recorded at the Agent's instruction.

Equity Interests Pledge. A pledge of all direct and indirect Equity Interests owned by Mobile Infra Holdings, LLC (“Equity Pledgor”) in the Fee Owners of the Clarksburg Property, the Clybourn Property, and the Milwaukee Old World Property, duly executed and delivered by Equity Pledgor, in form and substance satisfactory to Administrative Agent.

Equity Interests Pledge. The Lender shall have received a pledge agreement, executed by each applicable Loan Party in favor of the Lender, pursuant to which such Loan Party shall pledge to the Lender and grant to the Lender a Lien, subject to the terms of the Intercreditor Agreement, upon all of the outstanding Equity Interests of each Subsidiary (other than Equity Interests, if any, constituting Excluded Assets) of such Loan Party, together with share powers duly executed in blank and originals of any related share, membership or other similar certificates;