Common use of Pledge of Additional Securities Collateral Clause in Contracts

Pledge of Additional Securities Collateral. The Pledgor shall, upon obtaining any Pledged Securities, accept the same in trust for the benefit of the Secured Party and promptly (but in any event within five (5) Business Days after receipt thereof) deliver to the Secured Party a pledge amendment, duly executed by the Pledgor, in substantially the form of Exhibit B hereto (each, a “Pledge Amendment”), and the certificates and other documents required under Section 3.1 hereof in respect of the additional Pledged Securities which are to be pledged pursuant to this Agreement, and confirming the attachment of the Lien hereby created on and in respect of such additional Pledged Securities. The Pledgor hereby authorizes the Secured Party to attach each Pledge Amendment to this Agreement and agrees that all Pledged Securities listed on any Pledge Amendment delivered to the Secured Party shall for all purposes hereunder be considered Pledged Collateral. The Pledgor and the Secured Party agree that such additional Pledged Securities shall be, and shall be deemed to be, part of the Pledged Collateral and subject to the terms of this Agreement whether or not a Pledge Amendment is signed and delivered or this Agreement is otherwise amended to refer to such additional Pledged Securities.

Appears in 3 contracts

Samples: Pledge Agreement (Gryphon Gold Corp), Pledge Agreement (Santa Fe Gold CORP), Pledge Agreement (Golden Phoenix Minerals Inc)

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Pledge of Additional Securities Collateral. The Pledgor shall, upon obtaining any Pledged Securities, accept the same in trust for the benefit of the Secured Party Administrative Agent and promptly (but in any event within five (5) Business Days after receipt thereof) deliver to the Secured Party Administrative Agent a pledge amendment, duly executed by the Pledgor, in substantially the form of Exhibit B hereto (each, a “Pledge Amendment”), and and, subject to the terms of the Intercreditor Agreement, the certificates and other documents required under Section 3.1 hereof in respect of the additional Pledged Securities which are to be pledged pursuant to this Agreement, and confirming the attachment of the Lien hereby created on and in respect of such additional Pledged Securities. The Pledgor hereby authorizes the Secured Party Administrative Agent to attach each Pledge Amendment to this Agreement and agrees that all Pledged Securities listed on any Pledge Amendment delivered to the Secured Party Administrative Agent shall for all purposes hereunder be considered Pledged Collateral. The Pledgor and the Secured Party Administrative Agent agree that such additional Pledged Securities shall be, and shall be deemed to be, part of the Pledged Collateral and subject to the terms of this Agreement whether or not a Pledge Amendment is signed and delivered or this Agreement is otherwise amended to refer to such additional Pledged Securities.

Appears in 2 contracts

Samples: Pledge Agreement (Royal Gold Inc), Pledge Agreement (Royal Gold Inc)

Pledge of Additional Securities Collateral. The Pledgor shall, upon obtaining any Pledged Securities, accept the same in trust for the benefit of the Secured Party Administrative Agent and promptly (but in any event within five (5) Business Days after receipt thereof) deliver to the Secured Party Administrative Agent a pledge amendment, duly executed by the Pledgor, in substantially the form of Exhibit B hereto (each, a “Pledge Amendment”), and the certificates and other documents required under Section 3.1 hereof in respect of the additional Pledged Securities which are to be pledged pursuant to this Agreement, and confirming the attachment of the Lien hereby created on and in respect of such additional Pledged Securities. The Pledgor hereby authorizes the Secured Party Administrative Agent to attach each Pledge Amendment to this Agreement and agrees that all Pledged Securities listed on any Pledge Amendment delivered to the Secured Party Administrative Agent shall for all purposes hereunder be considered Pledged Collateral. The Pledgor and the Secured Party Administrative Agent agree that such additional Pledged Securities shall be, and shall be deemed to be, part of the Pledged Collateral and subject to the terms of this Agreement whether or not a Pledge Amendment is signed and delivered or this Agreement is otherwise amended to refer to such additional Pledged Securities.

Appears in 1 contract

Samples: Revolving Credit Agreement (Royal Gold Inc)

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Pledge of Additional Securities Collateral. The Pledgor shall, upon obtaining any Pledged Securities, accept the same in trust for the benefit of the Secured Party Administrative Agent and promptly (but in any event within five thirty (530) Business Banking Days after receipt thereof) deliver to the Secured Party Administrative Agent a pledge amendment, duly executed by the Pledgor, in substantially the form of Exhibit B A hereto (each, a “Pledge Amendment”), and the certificates and other documents required under Section 3.1 hereof in respect of the additional Pledged Securities which are to be pledged pursuant to this Agreement, and confirming the attachment of the Lien hereby created on and in respect of such additional Pledged Securities. The Pledgor hereby authorizes the Secured Party Administrative Agent to attach each Pledge Amendment to this Agreement and agrees that all Pledged Securities listed on any Pledge Amendment delivered to the Secured Party Administrative Agent shall for all purposes hereunder be considered Pledged Collateral. The Pledgor and the Secured Party Administrative Agent agree that such additional Pledged Securities shall be, and shall be deemed to be, part of the Pledged Collateral and subject to the terms of this Agreement whether or not a Pledge Amendment is signed and delivered or this Agreement is otherwise amended to refer to such additional Pledged Securities.

Appears in 1 contract

Samples: Pledge Agreement (Royal Gold Inc)

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