Pledge/Charge of Shares i) At all times during the validity of the Loan Documents, the Borrower shall cause to be forthwith created a first-ranking and exclusive pledge/charge in favour of IHFL on agreed percentage of the (present and future) shares, instrument(s) convertible into shares and/or instrument(s) with voting rights issued/to be issued by the company/companies and in this regard, the Borrower shall cause the (present and future) holders of the shares and/or the said instruments of such company/companies to forthwith execute a pledge/charge agreement, other documents and a Power of Attorney in the form and substance satisfactory to IHFL. Further, without prejudice to the aforesaid, the Borrower shall cause the Pledgor(s) to forthwith create a first-ranking and exclusive pledge/charge on the Pledged / Charged Shares in favour of IHFL and/or any of its agent/nominees/trustees, including all shares/securities lying in, and/or shares/securities which has been credited/ shall be credited from time to time in the Pledgor(s)' Demat Account(s) and in regard of which the Borrower shall cause the Pledgor(s) to execute a pledge/charge agreement, other documents and a Power of Attorney in the form and substance satisfactory to IHFL. The Demat Account(s) shall be opened by the Pledgor(s) with a depository participant(s) as approved by IHFL.
