GRANT OF SECURITY INTEREST-PLEDGED SHARES. The Borrower hereby ----------------------------------------- grants, pledges and assigns to the Lender all Shares of the issued and outstanding common stock, par value $.01 per share all of which were either (i) purchased by the Borrower from the proceeds of the disbursement of the Loan; (ii) acquired by the Borrower with the proceeds of a prior exempt loan within the meaning of Section 54.4975-7(b) of the Regulations, and pledged as collateral for such prior exempt loan, where the balance of such prior exempt loan has been repaid with the proceeds of the disbursement of the Loan (the "Pledged Shares" being hereinafter referred to as the "Collateral"). The Pledged Shares shall be evidenced by a stock certificate. The assignment and pledge herein granted and provided for is made and given to secure and shall secure the prompt payment of principal of and interest on the Note as and when the same becomes due and payable and the payment, observance and performance of any and all obligations and liabilities arising under or provided for in this Agreement or the Note or any of them in each instance as the same may be amended or modified and whether now existing or hereafter arising.
Appears in 11 contracts
Samples: Employee Stock Ownership Trust Loan and Security Agreement (West Essex Bancorp Inc), First Bancorp of Indiana Inc, First Lincoln Bancshares Inc
GRANT OF SECURITY INTEREST-PLEDGED SHARES. The Borrower hereby ----------------------------------------- grants, pledges and assigns to the Lender all Shares of the issued and outstanding common stock, par value $.01 per share all of which were either (i) purchased by the Borrower from the proceeds of the disbursement of the Loan; (ii) acquired by the Borrower with the proceeds of a prior exempt loan within the meaning of Section 54.4975-7(b) of the Regulations, and pledged as collateral for such prior exempt loan, where the balance of such prior exempt loan has been repaid with the proceeds of the disbursement of the Loan (the "Pledged Shares" being hereinafter referred to as the "Collateral"). The Pledged Shares shall be evidenced by a stock certificate. The assignment and pledge herein granted and provided for is made and given to secure and shall secure the prompt payment of principal of and interest on the Note as and when the same becomes due and payable and the payment, observance and performance of any and all obligations and liabilities arising under or provided for in this Agreement or the Note or any of them in each instance as the same may be amended or modified and whether now existing or hereafter arising.
Appears in 3 contracts
Samples: Bay State Bancorp Inc, Northeast Pennsylvania Financial Corp, Security of Pennsylvania Financial Corp
GRANT OF SECURITY INTEREST-PLEDGED SHARES. The Borrower hereby ----------------------------------------- grants, pledges and assigns to the Lender all Shares shares of the issued and outstanding common stock, par value $.01 per share all of which were either (i) purchased by the Borrower from the proceeds of the disbursement of the Loan; (ii) acquired by the Borrower with the proceeds of a prior exempt loan within the meaning of Section 54.4975-7(b) of the Regulations, and pledged as collateral for such prior exempt loan, where the balance of such prior exempt loan has been repaid with the proceeds of the disbursement of the Loan (the "Pledged Shares" being hereinafter referred to as the "Collateral"). The Pledged Shares shall be evidenced by a stock certificate. The assignment and pledge herein granted and provided for is made and given to secure and shall secure the prompt payment of principal of and interest on the Note as and when the same becomes due and payable and the payment, observance and performance of any and all obligations and liabilities arising under or provided for in this Agreement or the Note or any of them in each instance as the same may be amended or modified and whether now existing or hereafter arising.
Appears in 1 contract
Samples: First Place Financial Corp /De/
GRANT OF SECURITY INTEREST-PLEDGED SHARES. The Borrower hereby ----------------------------------------- grants, pledges and assigns to the Lender all Shares of the issued and outstanding common stock, par value $.01 per share all of Shares which were either (i) purchased by the Borrower from the proceeds of the disbursement of the Loan; or (ii) acquired by the Borrower with the proceeds of a prior exempt loan within the meaning of Section 54.4975-7(b) of the Regulations, and pledged as collateral for such prior exempt loan, where the balance of such prior exempt loan has been repaid with the proceeds of the disbursement of the Loan (the "Pledged Shares" being hereinafter ", which shall sometimes be referred to herein as the "Collateral"). The Pledged Shares shall be evidenced by a stock certificate. - The assignment and pledge herein granted and provided for is made and given to secure and shall secure the prompt payment of principal of and interest on the Note as and when the same becomes due and payable and the payment, observance and performance of any and all obligations and liabilities arising under or provided for in this Agreement or the Note or any of them in each instance as the same may be amended or modified and whether now existing or hereafter arising.
Appears in 1 contract
Samples: GSB Financial Corp
GRANT OF SECURITY INTEREST-PLEDGED SHARES. The Borrower hereby ----------------------------------------- grants, pledges and assigns to the Lender all Shares 1,321,177 shares of the issued and outstanding common stock, par value $.01 per share all of which were either (i) purchased by the Borrower from the proceeds of the disbursement of the Loan; (ii) acquired by the Borrower with the proceeds of a prior exempt loan within the meaning of Section 54.4975-7(b) of the Treasury Regulations, and pledged as collateral for such prior exempt loan, where the balance of such prior exempt loan has been repaid with the proceeds of the disbursement of the Loan (the "Pledged Shares" being hereinafter referred to as the "Collateral"). The Pledged Shares shall be evidenced by a stock certificate. The assignment and pledge herein granted and provided for is made and given to secure and shall secure the prompt payment of principal of and interest on the Note as and when the same becomes due and payable and the payment, observance and performance of any and all obligations and liabilities arising under or provided for in this Loan and Security Agreement (the "Agreement") or the Note or any of them in each instance as the same may be amended or modified and whether now existing or hereafter arising.
Appears in 1 contract
Samples: Astoria Financial Corp
GRANT OF SECURITY INTEREST-PLEDGED SHARES. The Borrower hereby ----------------------------------------- grants, pledges and assigns to the Lender all Shares ___________________________________ (_______) shares of the issued and outstanding common stock, par value $.01 per share all of which were either (i) purchased by the Borrower from the proceeds of the disbursement of the Loan; (ii) acquired by the Borrower with the proceeds of a prior exempt loan within the meaning of Section 54.4975-7(b) of the Regulations, and pledged as collateral for such prior exempt loan, where the balance of such prior exempt loan has been repaid with the proceeds of the disbursement of the Loan (the "Pledged Shares" being hereinafter referred to as the "Collateral"). The Pledged Shares shall be evidenced by a stock certificate. The assignment and pledge herein granted and provided for is made and given to secure and shall secure the prompt payment of principal of and interest on the Note as and when the same becomes due and payable and the payment, observance and performance of any and all obligations and liabilities arising under or provided for in this Agreement or the Note or any of them in each instance as the same may be amended or modified and whether now existing or hereafter arising.
Appears in 1 contract
Samples: Bayonne Bancshares Inc
GRANT OF SECURITY INTEREST-PLEDGED SHARES. The Borrower hereby ----------------------------------------- grants, pledges and assigns to the Lender all Shares ___________________________________ (_________) shares of the issued and outstanding common stock, par value $.01 per share all of which were either (i) purchased by the Borrower from the proceeds of the disbursement of the Loan; (ii) acquired by the Borrower with the proceeds of a prior exempt loan within the meaning of Section 54.4975-7(b) of the Regulations, and pledged as collateral for such prior exempt loan, where the balance of such prior exempt loan has been repaid with the proceeds of the disbursement of the Loan (the "Pledged Shares" being hereinafter referred to as the "Collateral"). The Pledged Shares shall be evidenced by a stock certificate. The assignment and pledge herein granted and provided for is made and given to secure and shall secure the prompt payment of principal of and interest on the Note as and when the same becomes due and payable and the payment, observance and performance of any and all obligations and liabilities arising under or provided for in this Agreement or the Note or any of them in each instance as the same may be amended or modified and whether now existing or hereafter arising.
Appears in 1 contract
Samples: First Source Bancorp Inc