Common use of Pledge of Stock Clause in Contracts

Pledge of Stock. As collateral security for the punctual payment and performance of all existing and future indebtedness and other liabilities, absolute or contingent, direct or indirect, primary or secondary, of any Borrower to each Bank and to all Banks, of any nature whatsoever arising under the Credit Agreement and the Notes issued thereunder (the "Notes"), that certain Security Agreement dated December 18, 1998 by and among Pledgor, MLC and Federal as Debtors and Pledgee as Secured Party (the "Security Agreement"), and under any other Loan Document, and all the obligations of Pledgor hereunder (all of such indebtedness, liabilities and obligations being hereinafter sometimes referred to collectively as the "Obligations"), Pledgor hereby pledges and collaterally assigns to Pledgee and grants to Pledgee and agrees that Pledgee shall have a first priority security interest in and pledge of 100% of the issued and outstanding shares of capital stock of each domestic subsidiary, and 65% of the issued and outstanding shares of voting capital stock and 100% of the issued and outstanding shares of non-voting capital stock of each foreign subsidiary, as set forth on Schedule 1 hereto (such shares together with any shares or other securities or property referred to in Section 6, being hereinafter sometimes referred to collectively as the "Pledged Securities").

Pledge of Stock. As collateral security for the punctual payment and performance of all existing and future indebtedness and other liabilities, absolute or contingent, direct or indirect, primary or secondary, of any Borrower to each Bank and to all Banks, of any nature whatsoever arising under the Credit Agreement and the Notes issued thereunder (the "Notes"), that certain Security Agreement dated December 18September __, 1998 by and among Pledgor, MLC and Federal as Debtors and Pledgee as Secured Party 2005 (the "Security Agreement")) by and among Pledgor and the Borrower Subsidiaries as debtors and Pledgee as the secured party on behalf of itself and the other Banks, and under any other Loan Document, and all the obligations of Pledgor hereunder (all of such indebtedness, liabilities and obligations being hereinafter sometimes referred to collectively as the "Obligations"), Pledgor hereby pledges and collaterally assigns to Pledgee and grants to Pledgee and agrees that Pledgee shall have a first priority security interest in and pledge of 100% of the issued and outstanding shares of capital stock of each domestic subsidiary, and 65% of the issued and outstanding shares of voting capital stock and 100% of the issued and outstanding shares of non-voting capital stock of each foreign subsidiary, as set forth on Schedule 1 hereto (such shares together with any shares or other securities or property referred to in Section 6, being hereinafter sometimes referred to collectively as the "Pledged Securities").

Pledge of Stock. As collateral security for the punctual payment and performance of all existing and future indebtedness and other liabilities, absolute or contingent, direct or indirect, primary or secondary, of any Borrower to each Bank and to all Banks, of any nature whatsoever arising under the Credit Agreement and the Notes issued thereunder (the "Notes"), that certain Amended and Restated Security Agreement dated as of December 1815, 1998 by and among Pledgor, MLC and Federal as Debtors and Pledgee as Secured Party 2000 (the "Security Agreement")) by and among Pledgor and the Borrower Subsidiaries as debtors and Pledgee as the secured party on behalf of itself and the other Banks, and under any other Loan Document, and all the obligations of Pledgor hereunder (all of such indebtedness, liabilities and obligations being hereinafter sometimes referred to collectively as the "Obligations"), Pledgor hereby pledges and collaterally assigns to Pledgee and grants to Pledgee and agrees that Pledgee shall have a first priority security interest in and pledge of 100% of the issued and outstanding shares of capital stock of each domestic subsidiary, and 65% of the issued and outstanding shares of voting capital stock and 100% of the issued and outstanding shares of non-voting capital stock of each foreign subsidiary, as set forth on Schedule 1 hereto (such shares together with any shares or other securities or property referred to in Section 6, being hereinafter sometimes referred to collectively as the "Pledged Securities").