Common use of Pledge and Security Interest Clause in Contracts

Pledge and Security Interest. (a) As collateral for the full and timely compliance of any and all of Pledgor's obligations under the Loan Agreement and the Guarantee Agreement, including, without limitation, payment and/or reimbursement of principal, payment of interest due, default interest, disbursements, consultants' and attorneys' fees due and payable and all other additional charges and amounts owed by the Company to the Pledgee (the "Secured Obligations"), the Pledgor hereby grants to LoJack a pledge of, first lien on and security interest in, the Pledged Stock (the "Pledge"). (b) Pursuant to Section 3217 of the Argentine Civil Code, the Secured Obligations amount to an estimated US$ 1,750,000 (U.S. dollars One Million Seven Hundred Fifty Thousand) on account of principal, plus any compensatory and late interest and any other additional charges and/or any other amount of money payable by the Pledgor and/or the Company to the Pledgee under the Loan Agreement and the Guarantee Agreement as well as all other obligations of undetermined and/or contingent value accrued thereunder. (c) The Pledge shall be perfected on the date of this Agreement, by: (i) providing notice thereof to the President of the Board of the Company on the terms contemplated in Exhibit II hereto; (ii) the annotation in the Stock Registry Book of the Company of the Pledge on the Pledged Stock; and (iii) delivery of the Certificates by the Pledgor to LoJack, with a legend, on the reverse of each Certificate, stating that the Pledged Stock is pledged and encumbered pursuant to the terms of this Agreement.

Pledge and Security Interest. (a) As collateral for the full and ---------------------------- timely compliance of any and all of Pledgor's obligations under the Loan Agreement Interim Loans and the Guarantee Agreement, including, without limitation, payment and/or reimbursement of principal, payment of interest due, default interest, disbursements, consultants' and attorneys' fees due and payable and all other additional charges and amounts owed by the Company to the Pledgee (the "Secured Obligations"), the Pledgor hereby grants to LoJack a pledge of, first lien on and security interest in, the Pledged Stock (the "Pledge"). (b) Pursuant to Section 3217 of the Argentine Civil Code, the Secured Obligations amount to an estimated US$ 1,750,000 US$2,300,000.00 (U.S. dollars One Two Million Seven Three Hundred Fifty Thousand) on account of principal, plus any compensatory and late interest and any other additional charges and/or any other amount of money payable by the Pledgor and/or the Company to the Pledgee under the Loan Agreement Interim Loans and the Guarantee Agreement as well as all other obligations of undetermined and/or contingent value accrued thereunder. (c) The Pledge shall be perfected on the date of this Agreement, by: (i) providing notice thereof to the President of the Board of the Company on the terms contemplated in Exhibit II III hereto; (ii) the annotation in the Stock Registry Book of the Company of the Pledge on the Pledged Stock; and (iii) delivery of the Certificates by the Pledgor to LoJack, with a legend, on the reverse of each Certificate, stating that the Pledged Stock is pledged and encumbered pursuant to the terms of this Agreement.