German Share Pledge Sample Clauses
A German Share Pledge is a legal provision whereby a shareholder pledges their shares in a German company as collateral to secure an obligation, typically a loan or other financial commitment. This clause outlines the procedures for creating and perfecting the pledge, including requirements for notarization and registration, and may specify the rights of the pledgee in the event of default, such as the ability to sell or otherwise enforce the pledged shares. Its core practical function is to provide lenders with security over the shares, thereby reducing their risk and facilitating access to credit for the shareholder.
German Share Pledge. For the purposes of any accessory (akzessorisch) security interest (e.g., pledge) created under German law (an “Accessory Security Interest”), the Assignee acknowledges that it will from the Effective Date and pro rata to its participation in the amounts secured by such Accessory Security Interest, become a direct beneficiary (e.g., pledgee) of the respective Accessory Security Interest. Furthermore, the Assignee, for the purposes of German law, hereby expressly consents to the declarations of the Administrative Agent in its capacity as collateral agent made on behalf of and in the name of the Assignee as “Future Pledgee” in the German Share Pledge Agreements (and the term “Future Pledgee” shall bear the same meaning given to this term in such German Share Pledge Agreements). The Assignee also confirms that it is aware of the contents of the German Share Pledge Agreements. THIS PLEDGE AGREEMENT (this “Pledge Agreement”) is entered into as of March 31, 2008, among ▇▇▇▇▇▇▇▇ BRANDS INTERNATIONAL, INC., a New Jersey corporation (“CBII”), ▇▇▇▇▇▇▇▇ BRANDS L.L.C., a Delaware limited liability company (the “Borrower”), each other Person (as defined in the Credit Agreement as defined below) listed on the signature pages hereof under the caption “Pledgor” or which becomes a party hereto as a New Pledgor (as defined below) pursuant to the joinder provisions of Section 17.17 (hereinafter the Borrower and all such other Persons are collectively referred to as the “Pledgors” or individually referred to as a “Pledgor”), and COÖPERATIEVE CENTRALE RAIFFEISEN - BOERENLEENBANK B.A., “RABOBANK NEDERLAND”, NEW YORK BRANCH (“Rabobank”), in its capacity as collateral agent for the benefit of itself and the other Secured Parties (as defined in the Credit Agreement referred to below) (in such capacity, the “Collateral Agent”).