Common use of New Shareholders Clause in Contracts

New Shareholders. Issue or otherwise grant shares of stock to any new shareholders unless (i) Agent has confirmed that such transaction would not cause a violation of the Patriot Act and (ii) such new shareholder(s) has executed a stock pledge agreement and stock power in favor of Agent for the ratable benefit of Lenders, in form and substance satisfactory to Agent.

Appears in 4 contracts

Samples: Loan and Security Agreement (Aerocentury Corp), Loan and Security Agreement (Aerocentury Corp), Loan and Security Agreement (Aerocentury Corp)

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New Shareholders. Issue or otherwise grant shares of stock to any new shareholders unless (i) Agent has confirmed that such transaction would not cause a violation of the Patriot Act and (ii) such new shareholder(s) has executed a stock pledge agreement and stock power in favor of Agent for the ratable benefit of Lenders and Non-Lenders, in form and substance satisfactory to Agent.

Appears in 1 contract

Samples: Loan and Security Agreement (Aerocentury Corp)

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