Common use of Pledge and Transfer of Pledged Shares Clause in Contracts

Pledge and Transfer of Pledged Shares. 1.1. The Pledgor hereby grants to Pledgee a security interest in all Pledged Shares as security for Pledgor's obligations to the Pledgee (the "Obligations") under the Convertible Debentures. Simultaneously with the execution of this Agreement, the Pledgor shall deliver to the Escrow Agent stock certificates representing the Pledged Shares, together with duly executed stock powers or other appropriate transfer documents executed in blank by the Pledgor (the "Transfer Documents"), and such stock certificates and Transfer Documents shall be held by the Escrow Agent pursuant to this Agreement until the full payment of all amounts due to the Pledgee under the Convertible Debentures and through repayment in accordance with the terms of the Convertible Debentures, or the termination or expiration of this Agreement.

Pledge and Transfer of Pledged Shares. 1.1. The Pledgor hereby grants to Pledgee a security interest in all Pledged Shares as security for Pledgor's obligations to the Pledgee (the "Obligations") under the Convertible Debentures. Simultaneously with the execution of this Agreementthe Transaction Documents, the Pledgor shall deliver to the Escrow Agent stock certificates representing the Pledged Shares, together with duly executed stock powers or other appropriate transfer documents executed in blank by the Pledgor (the "Transfer DocumentsTRANSFER DOCUMENTS"), and such stock certificates and Transfer Documents shall be held by the Escrow Agent pursuant to this Agreement until the full payment of all amounts due to the Pledgee under the Convertible Debentures and through repayment in accordance with the terms of the Convertible Debentures, or the termination or expiration of this Agreement.

Pledge and Transfer of Pledged Shares. 1.1. The Pledgor hereby grants to Pledgee a security interest in all Pledged Shares as security for Pledgor's ’s obligations to the Pledgee (the "“Obligations"”) under the Convertible Debentures. Simultaneously with the execution of this Agreement, the Pledgor shall deliver to the Escrow Agent stock certificates representing the Pledged Shares, together with duly executed stock powers or other appropriate transfer documents executed in blank by the Pledgor (the "“Transfer Documents"”), and such stock certificates and Transfer Documents shall be held by the Escrow Agent pursuant to this Agreement until the full payment of all amounts due to the Pledgee under the Convertible Debentures and as proportionately reduced through repayment in accordance with the terms of the Convertible Debentures, or the termination or expiration of this Agreement.

Pledge and Transfer of Pledged Shares. 1.1. The Pledgor hereby grants to Pledgee a security interest in all Pledged Shares as security for the Pledgor's ’s obligations under the Convertible Debentures issued to the Pledgee (the "Obligations") under the Convertible DebenturesSecurities Purchase Agreement of even date herewith. Simultaneously with the execution of this Agreementthe Transaction Documents, the Pledgor shall deliver to the Escrow Agent stock certificates representing the Pledged Shares, together with duly executed stock powers or other appropriate transfer documents executed in blank by the Pledgor (the "“Transfer Documents"”), and such stock certificates and Transfer Documents shall be held by the Escrow Agent pursuant to this Agreement until the full payment of all amounts due to the Pledgee under the Convertible Debentures and through repayment in accordance with the terms of the Convertible Debentures, or the termination or expiration of this Agreement.