Permitted Pledges. In addition to the assignments and participations permitted under the foregoing provisions of this Article 13, any Lender may assign and pledge all or any portion of its Revolving Credit Loans and its Note to any Federal Reserve Bank as collateral security pursuant to Regulation A of the Board of Governors of the Federal Reserve System and any Operating Circular issued by such Federal Reserve Bank. No such assignment shall release the assigning Lender from its obligations hereunder.
Permitted Pledges. A Management Stockholder may pledge any or all shares of Common Stock now or hereafter owned by him or her, or grant a security interest therein to secure indebtedness of such Management Stockholder owing to a bank or other financial institution, in either case on terms and conditions approved by the Board (excluding such Management Stockholder and other members of the Board who are designees of the Management Stockholders), provided, however, that any pledgee pursuant to this subsection (b) shall acquire only a security interest in such shares of Common Stock entitling such pledgee to (i) the proceeds from any sale of such shares made in compliance with the terms of this Agreement and (ii) any proceeds of any distribution to stockholders on account of the Common Stock in any liquidation as a result of any bankruptcy proceeding or the winding up of affairs of the Company, and in no event shall such pledgee be entitled to receive title to such shares or any other rights incident thereto other than those specified above. The pledge agreements or other related financing agreements of any Management Stockholder shall be subject to and acknowledge the rights of the Company and the other Stockholders set forth herein and shall acknowledge the restrictions imposed on the pledgee’s security interest pursuant to this Section 1.1(b).
Permitted Pledges. Any pledge of Common Units pursuant to a bona fide loan transaction or any hedging transaction affecting all or any part of a Member’s Common Units will not in itself constitute a Transfer hereunder or cause the Member to cease to be a Member provided that [a] the Member owning such Common Units gives Notice to the other Members of such pledge or hedge at least ten days prior to effecting it and [b] the pledgee or counterparty to the hedging transaction, as applicable, agrees in writing to be bound by and comply with all provisions of this Agreement applicable to the Member effecting such pledge or hedge. Any transfer of title to, or beneficial interest in, any Common Units to a pledgee upon foreclosure or to a counterparty to a hedging transaction upon physical settlement of such hedging transaction will be subject to the transfer restrictions under this Article 13. Any Transfer of Units under this Section 13.3 shall be subject to the satisfaction of the conditions set forth in Section 13.4.
Permitted Pledges. Notwithstanding anything to the contrary in this Agreement, nothing herein shall prohibit (a) the Seller Shareholder, Xxxx Kaoufman or any of his Affiliates from entering into an MK Permitted Pledge or (b) the Purchaser Shareholder, CEDC or any of its Affiliates form entering into a CEDC Permitted Pledge.
Permitted Pledges. The provisions of Sections 3.3, 3.4 and 3.5 and of Article 4 will not apply to any pledge of Shares as security pursuant to a bona fide loan transaction or to any hedging transactions, provided that (a) the Stockholder that owns the Shares gives notice to the other Stockholders of such Subject Company of such pledge or hedge at least 10 days prior to effecting it and (b) the pledgee or counterparty to the hedging transaction, as applicable, agrees in writing to be bound by and comply with all provisions of this Agreement applicable to the pledgor. Any transfer of title to, or beneficial interest in, any Shares to a pledgee or counterparty to a hedging transaction will be subject to the other Stockholders’ rights of first refusal under this Article 3, but will not be subject to the tag-along rights in Article 4.
Permitted Pledges. Notwithstanding anything to the contrary in this Article V, each Holder is entitled to pledge, hypothecate or otherwise encumber the Company Shares held by such Holder as collateral in connection with indebtedness for borrowed money of such Holder or its Affiliates.
Permitted Pledges. Notwithstanding anything to the contrary ----------------- herein, up to ten percent (10%) of the Shares may be pledged by the Shareholder provided that the Company has released the Shareholder's pledge with respect to such Shares.
Permitted Pledges. Any member of Impark Management may, with the prior written consent of FUMI, such consent not to be unreasonably withheld, pledge all or any portion of such member's or such member's Affiliate's Shares to a recognized Canadian financial institution solely to secure bonafide indebtedness or financial obligations of such member or Affiliate to such financial institution for an amount not exceeding two-thirds (2/3) of the original issue price of the Shares held by such member and such member's Affiliate and solely for the purpose of such member or Affiliate acquiring such Shares, provided that: (i) such financial institution acknowledges in writing, on terms acceptable to FUMI, to be bound by the terms and provisions of this agreement in dealing with such Shares to the same extent as if it were a member of Impark Management; (ii) such financial institution agrees to notify the Designated Representative and FUMI of any default by a member of Impark Management with respect to such indebtedness or financial obligations and to grant the Designated Representative and FUMI the option to purchase such member's Shares in accordance with section 6.2; (iii) such financial institution agrees, in the event of a sale, realization or other disposition of all or any portion of such Shares, that the same shall only be dealt with subject to and in accordance with the terms and provisions of this agreement; and (iv) such financial institution agrees that upon repayment of such indebtedness or financial obligations it will deliver the certificates representing such member's Shares to the Depositary and not to such member.
Permitted Pledges. Notwithstanding anything in this Agreement to the contrary, at any time a Member may pledge all or any portion of its Membership Interests owned by such Member and its rights under this Agreement to a bona fide financing source of such Member and such pledge shall not be subject to Section 7.02 hereof; provided that (i) such Member remains liable for all obligations relating to its Membership Interests, (ii) any such pledge shall be subject to the rights of the Company and the other Members under this Agreement and the Member granting such pledge shall cause the beneficiaries of such pledge to execute any instruments requested by the Company or the other Members reasonably necessary to reflect the rights of the Company and other Members under this Agreement and (iii) upon foreclosure by any beneficiary of such pledge (or any assignment in lieu of foreclosure), such beneficiary shall, subject to satisfying the requirements of Section 7.01, be entitled to an assignment of the Units of the Member foreclosed upon and such beneficiary shall hold such Units as a Transferee in accordance with Section 7.01(a)(iv).
Permitted Pledges. A Stockholder shall be entitled to pledge his or her shares of Common Stock to ARAMARK, a commercial bank, savings and loan institution or any other lending or financial institution as security for any indebtedness of such Stockholder to such lender; provided that such lender shall first agree not to dispose of such shares except in compliance with the provisions of this Agreement.
