Common use of Perfection of Uncertificated Securities Collateral Clause in Contracts

Perfection of Uncertificated Securities Collateral. If any issuer of Pledged Shares or Pledged Interests is organized in a jurisdiction which does not permit the use of certificates to evidence equity ownership, or if any of the Pledged Shares or Pledged Interests are at any time not evidenced by certificates of ownership, then Pledgor shall, to the extent permitted by applicable law, record such pledge on the equityholder register or the books of the issuer, cause the issuer to execute and deliver to Trustee an acknowledgment of the pledge of such Pledged Shares or Pledged Interests substantially in the form of Exhibit 2 hereto, execute any customary pledge forms or other documents necessary or appropriate to complete the pledge and give Trustee the right to transfer such Pledged Shares or Pledged Interests under the terms hereof and provide to Trustee an Opinion of Counsel, in form and substance satisfactory to Trustee, confirming such pledge.

Appears in 2 contracts

Samples: Indenture (Decora Industries Inc), Guarantor Pledge Agreement (Decora Industries Inc)

AutoNDA by SimpleDocs

Perfection of Uncertificated Securities Collateral. If any issuer Issuer of Pledged Shares or Pledged Equity Interests is organized in a jurisdiction which that does not permit the use of certificates to evidence equity ownership, or if any of the Pledged Shares or Pledged Equity Interests are at any time not evidenced by certificates of ownership, then each applicable Pledgor shall, to the extent permitted by applicable law, record such pledge on the equityholder register or the books of the issuerIssuer, cause the issuer Issuer to execute and deliver to Trustee Collateral Agent an acknowledgment of the pledge of such Pledged Shares or Pledged Equity Interests substantially in the form of Exhibit 2 A annexed hereto, execute any customary pledge forms or other documents necessary or appropriate to complete the pledge and give Trustee Collateral Agent the right to transfer such Pledged Shares or Pledged Equity Interests under the terms hereof and provide to Trustee Collateral Agent an Opinion opinion of Counselcounsel, in form and substance satisfactory to TrusteeCollateral Agent, confirming such pledgepledge and perfection thereof.

Appears in 2 contracts

Samples: Security Agreement (Wh Holdings Cayman Islands LTD), Security Agreement (Herbalife International Inc)

Perfection of Uncertificated Securities Collateral. If any issuer of Pledged Shares or Pledged Interests Securities is organized in a jurisdiction which does not permit the use of certificates to evidence equity ownership, or if any of the Pledged Shares or Pledged Interests Securities are at any time not evidenced by certificates of ownership, then each applicable Pledgor shall, to the extent permitted by applicable law, record such pledge on the equityholder register or the books of the issuer, cause the issuer to execute and deliver to Trustee the Collateral Agent an acknowledgment of the pledge of such Pledged Shares or Pledged Interests Securities substantially in the form of Exhibit 2 1 annexed hereto, execute any customary pledge forms or other documents necessary or appropriate to complete the pledge and give Trustee the Collateral Agent the right to transfer such Pledged Shares or Pledged Interests Securities under the terms hereof and provide to Trustee the Collateral Agent an Opinion opinion of Counselcounsel, in form and substance satisfactory to Trusteethe Collateral Agent, confirming such pledge.pledge and perfection thereof

Appears in 1 contract

Samples: Credit Agreement (Sola International Inc)

Perfection of Uncertificated Securities Collateral. If any issuer Issuer of Pledged Shares or Pledged Equity Interests is organized in a jurisdiction which that does not permit the use of certificates to evidence equity ownership, or if any of the Pledged Shares or Pledged Equity Interests are at any time not evidenced by certificates of ownership, then each applicable Pledgor shall, to the extent permitted by applicable law, record such pledge on the equityholder register or the books of the issuerIssuer, cause the issuer Issuer to execute and deliver to Trustee Collateral Agent an acknowledgment of the pledge of such Pledged Shares or Pledged Equity Interests substantially in the form of Exhibit 2 heretoA annexed hereto and, upon Collateral Agent’s request therefor, execute any customary pledge forms or other documents necessary or appropriate to complete the pledge and give Trustee Collateral Agent the right to transfer such Pledged Shares or Pledged Equity Interests under the terms hereof and provide to Trustee Collateral Agent an Opinion opinion of Counselcounsel, in form and substance satisfactory to TrusteeCollateral Agent, confirming such pledgepledge and perfection thereof.

Appears in 1 contract

Samples: Security Agreement (Herbalife Ltd.)

AutoNDA by SimpleDocs

Perfection of Uncertificated Securities Collateral. If any issuer of Pledged Shares or Pledged Interests Securities is organized in a jurisdiction which does not permit the use of certificates to evidence equity ownership, or if any of the Pledged Shares or Pledged Interests Securities are at any time not evidenced by certificates of ownership, then each applicable Pledgor shall, to the extent permitted by applicable law, record such pledge on the equityholder register or the books of the issuer, cause the issuer to execute and deliver to the Trustee an acknowledgment of the pledge of such Pledged Shares or Pledged Interests Securities substantially in the form of Exhibit 2 1 annexed hereto, execute any customary pledge forms or other --------- documents necessary or appropriate to complete the pledge and give the Trustee the right to transfer such Pledged Shares or Pledged Interests Securities under the terms hereof and provide to the Trustee an Opinion opinion of Counselcounsel, in form and substance satisfactory to the Trustee, confirming such pledgepledge and perfection thereof.

Appears in 1 contract

Samples: Security Agreement (Raceland Truck Plaza & Casino LLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!