Pledged Common Stock Clause Samples
The "Pledged Common Stock" clause defines the terms under which shares of common stock are used as collateral to secure an obligation, such as a loan or other financial commitment. Typically, this clause specifies the number of shares being pledged, the conditions under which the pledge is maintained or released, and the rights of the pledgee (the secured party) in the event of default. For example, if the borrower fails to meet their obligations, the pledgee may have the right to sell or otherwise dispose of the pledged stock to recover the owed amount. This clause serves to protect the interests of the lender or secured party by providing a tangible asset as security, thereby reducing the risk associated with the transaction.
Pledged Common Stock. In the case of Collateral consisting of Common Stock, by delivery of certificates evidencing such Common Stock, indorsed in blank (together with all signature guarantees and any other documents necessary to permit the Collateral Agent to effect the re-registration thereof without further action by the Pledgor) or registered in the name of the Collateral Agent or its nominee or, if such Common Stock is held in book entry form by The Depository Trust Company, by transfer to an account of the Collateral Agent or to an account (other than an account of the Pledgor) designated by the Collateral Agent with The Depository Trust Company;
Pledged Common Stock. In the case of Collateral consisting of Common Stock, by delivery to the Collateral Agent of Common Stock, registered in the name of the Collateral Agent or its nominee;
Pledged Common Stock. In the case of Collateral consisting of shares of Common Stock, by either (1) delivery to the Collateral Agent of one or more certificates representing such shares of Common Stock, registered in the name of the Collateral Agent or its nominee or duly endorsed in blank or accompanied by undated stock powers duly endorsed in blank, or (2) if such shares of Common Stock are not held in certificated form but are held in book-entry form by The Depository Trust Company or any other comparable depositary, transfer of such shares of Common Stock to an account of the Collateral Agent or to an account (other than an account of Pledgor) designated by the Collateral Agent with The Depository Trust Company or such other depositary, as applicable;
Pledged Common Stock. In the case of Collateral consisting of Common Stock, by transfer thereof through the book-entry system of The Depository Trust Company to an account of the Collateral Agent at The Depository Trust Company, and the Collateral Agent agrees to credit such Common Stock to the Collateral Account;
Pledged Common Stock. Within 60 days after the Closing Date (or such extended period of time as agreed to by the Administrative Agent), the Credit Parties shall deliver to the Administrative Agent such stock certificates of E▇▇▇▇▇ ▇.▇. de C.V., as Collateral, representing 65% of the Class A and Class B shares of Common Stock together with all other documents necessary and advisable to perfect the Collateral Agent’s security interest in such stock certificates.