{"component": "clause", "props": {"groups": [{"samples": [{"hash": "hOgwMzcwqG0", "uri": "/contracts/hOgwMzcwqG0#pledged-shares", "label": "Credit Agreement (Icagen, Inc.)", "score": 29.7474327087, "published": true}, {"hash": "emGEnidmOUl", "uri": "/contracts/emGEnidmOUl#pledged-shares", "label": "Credit Agreement and Guaranty (Icagen, Inc.)", "score": 29.7474327087, "published": true}, {"hash": "8z5ACZucvY7", "uri": "/contracts/8z5ACZucvY7#pledged-shares", "label": "Security Agreement (Icagen, Inc.)", "score": 29.6789875031, "published": true}], "size": 73, "snippet": "(i) Grantors will cause the Pledged Shares to constitute at all times 100% of the total number of Shares that are not Excluded Shares of each Issuer then outstanding owned by Grantors.\n(ii) Until the occurrence and during the continuation of an Event of Default, and upon receipt of written notice from Administrative Agent to Grantors with respect to the discontinuance of such voting and other rights, Grantors shall have the right to exercise all voting, consensual and other powers of ownership pertaining to the Pledged Shares for all purposes not inconsistent with the terms of this Agreement or the other Loan Documents, provided that Grantors jointly and severally agree that they will not vote the Pledged Shares in any manner that is inconsistent with the terms of this Agreement or the other Loan Documents; and Administrative Agent shall execute and deliver to Grantors or cause to be executed and delivered to Grantors all such proxies, powers of attorney, dividend and other orders, and all such instruments, without recourse, as Grantors may reasonably request for the purpose of enabling Grantors to exercise the rights and powers that they are entitled to exercise pursuant to this Section 4.04(a)(ii).\n(iii) Until the occurrence and during the continuation of an Event of Default, and upon receipt of written notice from Administrative Agent to Grantors with respect to the discontinuance of such Grantors retaining such dividends and other amounts; Grantors shall be entitled to receive and retain any dividends, distributions or proceeds on the Pledged Shares.\n(iv) After the occurrence and during the continuation of an Event of Default, and upon receipt of written notice from Administrative Agent to Grantors with respect to the discontinuance of such Grantors retaining such dividends and other amounts, whether or not Administrative Agent exercises any available right to declare any Secured Obligations due and payable or seeks or pursues any other relief or remedy available to it under applicable law or under this Agreement, the other Loan Documents or any other agreement relating to such Secured Obligation, all dividends and other distributions on the Pledged Shares shall be paid directly to Administrative Agent for distribution to Secured Parties and retained by them as part of the Collateral, subject to the terms of this Agreement, and, if Administrative Agent shall so request in writing, Grantors jointly and severally agree to execute and deliver to Administrative Agent appropriate additional dividend, distribution and other orders and documents to that end, provided, that if such Event of Default is no longer continuing, any such dividend or distribution theretofore paid to Administrative Agent shall, upon request of Grantors (except to the extent theretofore applied to the Secured Obligations), be returned by Administrative Agent to Grantors.", "snippet_links": [{"key": "the-pledged-shares", "type": "clause", "offset": [24, 42]}, {"key": "at-all-times", "type": "clause", "offset": [57, 69]}, {"key": "total-number-of-shares", "type": "definition", "offset": [82, 104]}, {"key": "shares-of", "type": "clause", "offset": [127, 136]}, {"key": "owned-by", "type": "definition", "offset": [166, 174]}, {"key": "continuation-of", "type": "clause", "offset": [226, 241]}, {"key": "an-event-of-default", "type": "clause", "offset": [242, 261]}, {"key": "receipt-of-written-notice", "type": "clause", "offset": [272, 297]}, {"key": "administrative-agent", "type": "definition", "offset": [303, 323]}, {"key": "with-respect-to", "type": "clause", "offset": [336, 351]}, {"key": "voting-and-other-rights", "type": "clause", "offset": [379, 402]}, {"key": "right-to-exercise", "type": "definition", "offset": [428, 445]}, {"key": "other-powers", "type": "clause", "offset": [473, 485]}, {"key": "pertaining-to", "type": "definition", "offset": [499, 512]}, {"key": "all-purposes", "type": "definition", "offset": [536, 548]}, {"key": "agreement-or", "type": "definition", "offset": [589, 601]}, {"key": "other-loan-documents", "type": "clause", "offset": [606, 626]}, {"key": "provided-that", "type": "definition", "offset": [628, 641]}, {"key": "jointly-and-severally", "type": "clause", "offset": [651, 672]}, {"key": "agent-shall", "type": "definition", "offset": [838, 849]}, {"key": "deliver-to", "type": "definition", "offset": [862, 872]}, {"key": "executed-and-delivered", "type": "clause", "offset": [897, 919]}, {"key": "powers-of-attorney", "type": "clause", "offset": [950, 968]}, {"key": "other-orders", "type": "clause", "offset": [983, 995]}, {"key": "without-recourse", "type": "definition", "offset": [1023, 1039]}, {"key": "for-the-purpose-of", "type": "definition", "offset": [1076, 1094]}, {"key": "rights-and-powers", "type": "clause", "offset": [1129, 1146]}, {"key": "pursuant-to", "type": "definition", "offset": [1182, 1193]}, {"key": "other-amounts", "type": "definition", "offset": [1453, 1466]}, {"key": "to-receive", "type": "definition", "offset": [1495, 1505]}, {"key": "after-the-occurrence-and-during", "type": "clause", "offset": [1586, 1617]}, {"key": "due-and-payable", "type": "clause", "offset": [1929, 1944]}, {"key": "other-relief", "type": "clause", "offset": [1969, 1981]}, {"key": "available-to", "type": "definition", "offset": [1992, 2004]}, {"key": "applicable-law", "type": "clause", "offset": [2014, 2028]}, {"key": "any-other-agreement", "type": "definition", "offset": [2082, 2101]}, {"key": "relating-to", "type": "definition", "offset": [2102, 2113]}, {"key": "distributions-on-the", "type": "clause", "offset": [2163, 2183]}, {"key": "for-distribution", "type": "clause", "offset": [2246, 2262]}, {"key": "secured-parties", "type": "definition", "offset": [2266, 2281]}, {"key": "the-collateral", "type": "definition", "offset": [2314, 2328]}, {"key": "subject-to-the-terms", "type": "clause", "offset": [2330, 2350]}, {"key": "request-in-writing", "type": "clause", "offset": [2408, 2426]}, {"key": "agree-to", "type": "clause", "offset": [2459, 2467]}, {"key": "additional-dividend", "type": "definition", "offset": [2524, 2543]}, {"key": "dividend-or-distribution", "type": "definition", "offset": [2676, 2700]}, {"key": "upon-request", "type": "definition", "offset": [2749, 2761]}, {"key": "except-to-the-extent", "type": "clause", "offset": [2775, 2795]}, {"key": "the-secured-obligations", "type": "definition", "offset": [2819, 2842]}], "hash": "37097b6664b290f3053d55d0c341fca2", "id": 1}, {"samples": [{"hash": "hOgwMzcwqG0", "uri": "/contracts/hOgwMzcwqG0#pledged-shares", "label": "Credit Agreement (Icagen, Inc.)", "score": 29.7474327087, "published": true}, {"hash": "emGEnidmOUl", "uri": "/contracts/emGEnidmOUl#pledged-shares", "label": "Credit Agreement and Guaranty (Icagen, Inc.)", "score": 29.7474327087, "published": true}, {"hash": "8z5ACZucvY7", "uri": "/contracts/8z5ACZucvY7#pledged-shares", "label": "Security Agreement (Icagen, Inc.)", "score": 29.6789875031, "published": true}], "size": 45, "snippet": "(a) The Initial Pledged Shares constitute 100% of the issued and outstanding Shares of each Issuer beneficially owned by such Grantor on the date hereof (other than any Shares held in a Securities Account referred to in Schedule 7 or any Excluded Shares), whether or not registered in the name of such Grantor. Schedule 2 correctly identifies, as at the date hereof, the respective Issuers of the Initial Pledged Shares and (in the case of any corporate Issuer) the respective class and par value of such Shares and the respective number of such Shares (and registered owner thereof) represented by each such certificate.\n(b) The Initial Pledged Shares are, and all other Pledged Shares that in the future will constitute Collateral will be, (i) duly authorized, validly existing, fully paid and non-assessable (in the case of any Shares issued by a corporation) and (ii) duly issued and outstanding (in the case of any equity interest in any other entity). None of such Pledged Shares are or will be subject to any contractual restriction, or any restriction under the charter, bylaws, partnership agreement or other organizational instrument of the respective Issuer thereof, upon the transfer of such Pledged Shares (except for any such restriction (i) contained in any Loan Document, (ii) contained in any Restrictive Agreement permitted under Section 9.11 of the Credit Agreement, or (iii) affecting the offering and sale of securities generally).", "snippet_links": [{"key": "initial-pledged-shares", "type": "definition", "offset": [8, 30]}, {"key": "shares-of", "type": "clause", "offset": [77, 86]}, {"key": "owned-by", "type": "definition", "offset": [112, 120]}, {"key": "date-hereof", "type": "clause", "offset": [141, 152]}, {"key": "securities-account", "type": "definition", "offset": [186, 204]}, {"key": "schedule-7", "type": "definition", "offset": [220, 230]}, {"key": "excluded-shares", "type": "definition", "offset": [238, 253]}, {"key": "not-registered", "type": "clause", "offset": [267, 281]}, {"key": "schedule-2", "type": "definition", "offset": [311, 321]}, {"key": "in-the-case", "type": "clause", "offset": [425, 436]}, {"key": "corporate-issuer", "type": "definition", "offset": [444, 460]}, {"key": "par-value", "type": "clause", "offset": [487, 496]}, {"key": "number-of", "type": "definition", "offset": [531, 540]}, {"key": "registered-owner", "type": "clause", "offset": [558, 574]}, {"key": "represented-by", "type": "definition", "offset": [584, 598]}, {"key": "the-future", "type": "clause", "offset": [695, 705]}, {"key": "duly-authorized", "type": "clause", "offset": [746, 761]}, {"key": "validly-existing", "type": "clause", "offset": [763, 779]}, {"key": "fully-paid", "type": "clause", "offset": [781, 791]}, {"key": "issued-by", "type": "definition", "offset": [838, 847]}, {"key": "a-corporation", "type": "clause", "offset": [848, 861]}, {"key": "duly-issued", "type": "clause", "offset": [872, 883]}, {"key": "equity-interest", "type": "clause", "offset": [920, 935]}, {"key": "other-entity", "type": "definition", "offset": [943, 955]}, {"key": "subject-to", "type": "definition", "offset": [1001, 1011]}, {"key": "contractual-restriction", "type": "definition", "offset": [1016, 1039]}, {"key": "the-charter", "type": "clause", "offset": [1066, 1077]}, {"key": "agreement-or", "type": "definition", "offset": [1099, 1111]}, {"key": "organizational-instrument", "type": "definition", "offset": [1118, 1143]}, {"key": "transfer-of", "type": "clause", "offset": [1187, 1198]}, {"key": "contained-in", "type": "definition", "offset": [1256, 1268]}, {"key": "loan-document", "type": "definition", "offset": [1273, 1286]}, {"key": "restrictive-agreement", "type": "clause", "offset": [1310, 1331]}, {"key": "the-credit-agreement", "type": "clause", "offset": [1364, 1384]}, {"key": "offering-and-sale-of-securities", "type": "clause", "offset": [1409, 1440]}], "hash": "c39cd28edd4921150ae4e93bc7b8c0ef", "id": 3}, {"samples": [{"hash": "7A1X6LBW2A1", "uri": "/contracts/7A1X6LBW2A1#pledged-shares", "label": "Credit Agreement (Nova Corp \\Ga\\)", "score": 18.0, "published": true}], "size": 9, "snippet": "The Pledgor represents and warrants to -------------- the Agent, the Lenders and the Issuing Lender that:\n(a) The Pledged Shares are duly authorized, validly issued, are fully paid and non-assessable and represent 100% of the issued and outstanding capital stock of the Issuer;\n(b) The Agent for the benefit of the Lenders and the Issuing Lender has, provided it retains possession of the Pledged Shares and other Collateral, a valid perfected security interest in the Collateral and the proceeds thereof free of all Liens except Permitted Liens, claims and rights of third parties whatsoever subject to the making of the Loans;\n(c) The Pledgor will, at all times, keep pledged to the Agent pursuant hereto all uncertificated equity securities or shares of the capital stock of the Issuer, and all other certificates or instruments which the Pledgor may now or hereafter own evidencing any ownership of the Issuer;\n(d) The Pledgor will endorse and deliver to the Agent for pledge hereunder, promptly upon its obtaining thereof, any additional Pledged Shares (or other Collateral to the extent required herein). As of the date of any such delivery of additional shares, interests, uncertificated equity securities, certificates or instruments to the Agent, the Pledgor will represent and warrant that: (i) the Pledgor owns such shares, certificates, uncertificated equity securities and instruments and the proceeds thereof free and clear of all Liens except Permitted Liens, claims and rights of any other Person other than the Liens granted hereunder and Permitted Liens, (ii) the Pledgor has good title to said shares, certificates and instruments and has the right to deliver, pledge, assign and transfer such shares, certificates or instruments to the Agent pursuant to this Pledge Agreement, (iii) the Pledgor has pledged to the Agent, as of such date, all of the capital stock and uncertificated equity securities of each of the Issuers, and (iv) provided that the Agent retains possession thereof, the Agent has a valid, first priority perfected security interest in said shares, interests, certificates or instruments and the proceeds thereof free of all Liens except Permitted Liens, claims and rights of third parties whatsoever; and\n(e) All documentary, stamp or other taxes or fees owing in connection with the issuance, transfer and/or pledge of the Pledged Shares and other certificates or instruments have been paid and will hereafter be paid by the Pledgor as such become due and payable.", "snippet_links": [{"key": "the-pledgor", "type": "definition", "offset": [0, 11]}, {"key": "the-agent", "type": "clause", "offset": [54, 63]}, {"key": "the-issuing-lender", "type": "clause", "offset": [81, 99]}, {"key": "the-pledged-shares", "type": "clause", "offset": [110, 128]}, {"key": "duly-authorized", "type": "clause", "offset": [133, 148]}, {"key": "validly-issued", "type": "clause", "offset": [150, 164]}, {"key": "fully-paid", "type": "clause", "offset": [170, 180]}, {"key": "capital-stock-of-the-issuer", "type": "clause", "offset": [249, 276]}, {"key": "benefit-of-the-lenders", "type": "clause", "offset": [300, 322]}, {"key": "possession-of-the", "type": "clause", "offset": [371, 388]}, {"key": "other-collateral", "type": "clause", "offset": [408, 424]}, {"key": "security-interest-in-the-collateral", "type": "clause", "offset": [444, 479]}, {"key": "permitted-liens", "type": "definition", "offset": [530, 545]}, {"key": "rights-of-third-parties", "type": "definition", "offset": [558, 581]}, {"key": "subject-to-the", "type": "clause", "offset": [593, 607]}, {"key": "making-of-the-loans", "type": "clause", "offset": [608, 627]}, {"key": "at-all-times", "type": "clause", "offset": [651, 663]}, {"key": "shares-of", "type": "clause", "offset": [747, 756]}, {"key": "the-capital-stock", "type": "clause", "offset": [757, 774]}, {"key": "certificates-or-instruments", "type": "clause", "offset": [804, 831]}, {"key": "ownership-of-the-issuer", "type": "clause", "offset": [890, 913]}, {"key": "deliver-to", "type": "definition", "offset": [948, 958]}, {"key": "promptly-upon", "type": "clause", "offset": [991, 1004]}, {"key": "additional-pledged-shares", "type": "definition", "offset": [1032, 1057]}, {"key": "to-the-extent", "type": "clause", "offset": [1079, 1092]}, {"key": "date-of", "type": "clause", "offset": [1121, 1128]}, {"key": "delivery-of-additional-shares", "type": "clause", "offset": [1138, 1167]}, {"key": "securities-and-instruments", "type": "clause", "offset": [1371, 1397]}, {"key": "free-and-clear", "type": "clause", "offset": [1423, 1437]}, {"key": "any-other-person", "type": "definition", "offset": [1496, 1512]}, {"key": "the-liens", "type": "clause", "offset": [1524, 1533]}, {"key": "title-to", "type": "clause", "offset": [1599, 1607]}, {"key": "certificates-and-instruments", "type": "clause", "offset": [1621, 1649]}, {"key": "right-to", "type": "definition", "offset": [1662, 1670]}, {"key": "pursuant-to", "type": "definition", "offset": [1762, 1773]}, {"key": "this-pledge-agreement", "type": "clause", "offset": [1774, 1795]}, {"key": "the-issuers", "type": "clause", "offset": [1931, 1942]}, {"key": "provided-that", "type": "definition", "offset": [1953, 1966]}, {"key": "first-priority-perfected-security-interest", "type": "clause", "offset": [2028, 2070]}, {"key": "stamp-or-other-taxes", "type": "clause", "offset": [2265, 2285]}, {"key": "in-connection-with", "type": "clause", "offset": [2300, 2318]}, {"key": "the-issuance", "type": "clause", "offset": [2319, 2331]}, {"key": "due-and-payable", "type": "clause", "offset": [2488, 2503]}], "hash": "415bb2ed8e317edbb46139c80b9a35e3", "id": 6}, {"samples": [{"hash": "hzWhJ6Djbrv", "uri": "/contracts/hzWhJ6Djbrv#pledged-shares", "label": "Credit Agreement (Noble International, Ltd.)", "score": 21.0, "published": true}, {"hash": "eEikehjvgla", "uri": "/contracts/eEikehjvgla#pledged-shares", "label": "Credit Agreement (Noble International, Ltd.)", "score": 21.0, "published": true}], "size": 8, "snippet": "(1) The Pledged Shares that are shares of a corporation have been duly authorized and validly issued and are fully paid and nonassessable, and the Pledged Shares that are membership interests or partnership units (if any) have been validly granted, under the laws of the jurisdiction of organization of the issuers thereof, and, to the extent applicable, are fully paid and nonassessable. No such membership or partnership interests constitute \u201csecurities\u201d within the meaning of Article 8 of the UCC, and each Debtor covenants and agrees not to allow any such membership or partnership interest to become \u201csecurities\u201d for purposes of Article 8 of the UCC.\n(2) Each Debtor is the legal and beneficial owner of the Pledged Shares, free and clear of any Lien (other than the Liens created by this Agreement), and Debtor has not sold, granted any option with respect to, assigned, transferred or otherwise disposed of any of its rights or interest in or to the Pledged Shares. None of the Pledged Shares are subject to any contractual or other restrictions upon the pledge or other transfer of such Pledged Shares, other than those imposed by securities laws generally. No issuer of Pledged Shares is party to any agreement granting \u201ccontrol\u201d (as defined in Section 8-106 of the UCC) of such Debtor\u2019s Pledged Shares to any third party. All such Pledged Shares are held by each Debtor directly and not through any securities intermediary.\n(3) On the date hereof, the Pledged Shares constitute the percentage of the issued and outstanding shares of stock, partnership units or membership interests of the issuers thereof indicated on Schedule D and such schedule contains a description of all shares of capital stock, membership interests and other equity interests of or in any domestic Subsidiaries owned by Debtor (as such Schedule D may from time to time be supplemented, amended or modified in accordance with the terms of this Agreement).", "snippet_links": [{"key": "the-pledged-shares", "type": "clause", "offset": [4, 22]}, {"key": "a-corporation", "type": "clause", "offset": [42, 55]}, {"key": "duly-authorized-and-validly-issued", "type": "clause", "offset": [66, 100]}, {"key": "fully-paid-and-nonassessable", "type": "clause", "offset": [109, 137]}, {"key": "membership-interests", "type": "definition", "offset": [171, 191]}, {"key": "partnership-units", "type": "definition", "offset": [195, 212]}, {"key": "the-laws", "type": "definition", "offset": [255, 263]}, {"key": "jurisdiction-of-organization", "type": "clause", "offset": [271, 299]}, {"key": "the-issuers", "type": "clause", "offset": [303, 314]}, {"key": "to-the-extent", "type": "clause", "offset": [329, 342]}, {"key": "partnership-interests", "type": "definition", "offset": [411, 432]}, {"key": "meaning-of", "type": "clause", "offset": [468, 478]}, {"key": "article-8-of-the-ucc", "type": "clause", "offset": [479, 499]}, {"key": "debtor-covenants", "type": "clause", "offset": [510, 526]}, {"key": "purposes-of-article", "type": "clause", "offset": [622, 641]}, {"key": "legal-and-beneficial-owner", "type": "clause", "offset": [679, 705]}, {"key": "free-and-clear", "type": "clause", "offset": [729, 743]}, {"key": "by-this-agreement", "type": "clause", "offset": [786, 803]}, {"key": "with-respect-to", "type": "clause", "offset": [850, 865]}, {"key": "otherwise-disposed-of", "type": "definition", "offset": [892, 913]}, {"key": "rights-or-interest", "type": "clause", "offset": [925, 943]}, {"key": "subject-to", "type": "definition", "offset": [1004, 1014]}, {"key": "contractual-or-other-restrictions", "type": "clause", "offset": [1019, 1052]}, {"key": "transfer-of", "type": "clause", "offset": [1078, 1089]}, {"key": "laws-generally", "type": "clause", "offset": [1150, 1164]}, {"key": "section-8", "type": "clause", "offset": [1254, 1263]}, {"key": "such-debtor", "type": "definition", "offset": [1283, 1294]}, {"key": "third-party", "type": "definition", "offset": [1319, 1330]}, {"key": "securities-intermediary", "type": "definition", "offset": [1409, 1432]}, {"key": "date-hereof", "type": "clause", "offset": [1445, 1456]}, {"key": "the-percentage", "type": "definition", "offset": [1488, 1502]}, {"key": "shares-of-stock", "type": "clause", "offset": [1533, 1548]}, {"key": "schedule-d", "type": "clause", "offset": [1628, 1638]}, {"key": "description-of", "type": "definition", "offset": [1668, 1682]}, {"key": "shares-of-capital-stock", "type": "clause", "offset": [1687, 1710]}, {"key": "other-equity-interests", "type": "definition", "offset": [1737, 1759]}, {"key": "domestic-subsidiaries", "type": "clause", "offset": [1773, 1794]}, {"key": "by-debtor", "type": "clause", "offset": [1801, 1810]}, {"key": "from-time-to-time", "type": "clause", "offset": [1835, 1852]}, {"key": "in-accordance-with", "type": "definition", "offset": [1890, 1908]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [1913, 1936]}], "hash": "c9aef938edf4e4258567278f8a3956f6", "id": 7}, {"samples": [{"hash": "lCwl31RSRNu", "uri": "/contracts/lCwl31RSRNu#pledged-shares", "label": "Pledge Agreement (Fti Consulting Inc)", "score": 18.0, "published": true}, {"hash": "gvhW6SJNRZb", "uri": "/contracts/gvhW6SJNRZb#pledged-shares", "label": "Pledge Agreement (Fti Consulting Inc)", "score": 18.0, "published": true}, {"hash": "exPReVBUHwt", "uri": "/contracts/exPReVBUHwt#pledged-shares", "label": "Pledge Agreement (Amerigroup Corp)", "score": 18.0, "published": true}], "size": 71, "snippet": "(i) One hundred percent (100%) (or, if less, the full amount owned by such Pledgor) of the issued and outstanding Capital Stock owned by such Pledgor of each Domestic Subsidiary set forth on Schedule 2(a) attached hereto and (ii) sixty-five percent (65%) (or, if less, the full amount owned by such Pledgor) of the issued and outstanding shares of Capital Stock entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) (\"Voting Equity\") and one hundred percent (100%) (or, if less, the full amount owned by such Pledgor) of the issued and outstanding Capital Stock not entitled to vote (within the meaning of Treas. Reg.\nSection 1. 956-2(c)(2)) (\"Non-Voting Equity\") owned by such Pledgor of each Foreign Subsidiary set forth on Schedule 2(a) attached hereto, in each case together with the certificates (or other agreements or instruments), if any, representing such Capital Stock, and all options and other rights, contractual or otherwise, with respect thereto (collectively, together with the Capital Stock described in Section 2(b) and 2(c) below, the \"Pledged Shares\"), including, but not limited to, the following:\n(A) all shares, securities, membership interests or other equity interests representing a dividend on any of the Pledged Shares, or representing a distribution or return of capital upon or in respect of the Pledged Shares, or resulting from a stock split, revision, reclassification or other exchange therefor, and any subscriptions, warrants, rights or options issued to the holder of, or otherwise in respect of, the Pledged Shares; and\n(B) without affecting the obligations of the Pledgors under any provision prohibiting such action hereunder or under the Credit Agreement, in the event of any consolidation or merger involving the issuer of any Pledged Shares and in which such issuer is not the surviving entity, all Capital Stock of the successor entity formed by or resulting from such consolidation or merger.", "snippet_links": [{"key": "owned-by", "type": "definition", "offset": [61, 69]}, {"key": "stock-owned", "type": "clause", "offset": [122, 133]}, {"key": "domestic-subsidiary", "type": "definition", "offset": [158, 177]}, {"key": "on-schedule", "type": "definition", "offset": [188, 199]}, {"key": "five-percent", "type": "clause", "offset": [236, 248]}, {"key": "shares-of-capital-stock", "type": "clause", "offset": [338, 361]}, {"key": "meaning-of", "type": "clause", "offset": [391, 401]}, {"key": "section-1", "type": "clause", "offset": [414, 423]}, {"key": "voting-equity", "type": "definition", "offset": [439, 452]}, {"key": "not-entitled-to-vote", "type": "definition", "offset": [583, 603]}, {"key": "foreign-subsidiary", "type": "clause", "offset": [715, 733]}, {"key": "each-case", "type": "definition", "offset": [781, 790]}, {"key": "the-certificates", "type": "definition", "offset": [805, 821]}, {"key": "other-agreements", "type": "definition", "offset": [826, 842]}, {"key": "options-and-other-rights", "type": "clause", "offset": [909, 933]}, {"key": "the-capital-stock", "type": "clause", "offset": [1011, 1028]}, {"key": "not-limited", "type": "clause", "offset": [1109, 1120]}, {"key": "all-shares", "type": "clause", "offset": [1144, 1154]}, {"key": "membership-interests", "type": "definition", "offset": [1168, 1188]}, {"key": "other-equity-interests", "type": "definition", "offset": [1192, 1214]}, {"key": "the-pledged-shares", "type": "clause", "offset": [1249, 1267]}, {"key": "a-distribution", "type": "clause", "offset": [1285, 1299]}, {"key": "return-of-capital", "type": "definition", "offset": [1303, 1320]}, {"key": "in-respect-of", "type": "definition", "offset": [1329, 1342]}, {"key": "resulting-from", "type": "definition", "offset": [1366, 1380]}, {"key": "stock-split", "type": "definition", "offset": [1383, 1394]}, {"key": "other-exchange", "type": "definition", "offset": [1426, 1440]}, {"key": "issued-to", "type": "definition", "offset": [1502, 1511]}, {"key": "the-holder", "type": "clause", "offset": [1512, 1522]}, {"key": "without-affecting", "type": "clause", "offset": [1583, 1600]}, {"key": "obligations-of-the-pledgors", "type": "clause", "offset": [1605, 1632]}, {"key": "the-credit-agreement", "type": "clause", "offset": [1696, 1716]}, {"key": "in-the-event-of", "type": "clause", "offset": [1718, 1733]}, {"key": "consolidation-or-merger", "type": "clause", "offset": [1738, 1761]}, {"key": "the-issuer", "type": "definition", "offset": [1772, 1782]}, {"key": "the-surviving-entity", "type": "clause", "offset": [1837, 1857]}, {"key": "all-capital-stock", "type": "clause", "offset": [1859, 1876]}, {"key": "successor-entity", "type": "clause", "offset": [1884, 1900]}], "hash": "baef7688b7c06dcee2b525e998fcdfdf", "id": 2}, {"samples": [{"hash": "jQJaKebQOd4", "uri": "/contracts/jQJaKebQOd4#pledged-shares", "label": "Credit Agreement (Rent the Runway, Inc.)", "score": 32.7946624756, "published": true}, {"hash": "6nuwim814KN", "uri": "/contracts/6nuwim814KN#pledged-shares", "label": "Credit Agreement (Accolade, Inc.)", "score": 31.1574268341, "published": true}, {"hash": "3rNjoaNKinp", "uri": "/contracts/3rNjoaNKinp#pledged-shares", "label": "Credit Agreement (Accolade, Inc.)", "score": 30.9247093201, "published": true}], "size": 18, "snippet": "None of the Debtors, singly or collectively, hold any Pledged Shares which have not been previously disclosed to Agent in writing except as set forth on Schedule 4 attached hereto, which sets forth the information required by Section 3.4(c) of the Security Agreement for such previously undisclosed Pledged Shares.", "snippet_links": [{"key": "the-debtors", "type": "clause", "offset": [8, 19]}, {"key": "previously-disclosed", "type": "definition", "offset": [89, 109]}, {"key": "in-writing", "type": "definition", "offset": [119, 129]}, {"key": "schedule-4", "type": "definition", "offset": [153, 163]}, {"key": "required-by", "type": "definition", "offset": [214, 225]}, {"key": "agreement-for", "type": "clause", "offset": [257, 270]}], "hash": "f9461d8b442d24cdf43b6d30ae4c82a5", "id": 5}, {"samples": [{"hash": "6nuwim814KN", "uri": "/contracts/6nuwim814KN#pledged-shares", "label": "Credit Agreement (Accolade, Inc.)", "score": 31.1574268341, "published": true}, {"hash": "3rNjoaNKinp", "uri": "/contracts/3rNjoaNKinp#pledged-shares", "label": "Credit Agreement (Accolade, Inc.)", "score": 30.9247093201, "published": true}, {"hash": "gQuRaaCPlJe", "uri": "/contracts/gQuRaaCPlJe#pledged-shares", "label": "Revolving Credit Agreement (2U, Inc.)", "score": 25.1396312714, "published": true}], "size": 26, "snippet": "All certificates or instruments representing or evidencing the Pledged Shares or any Debtor\u2019s rights therein shall be delivered to the Agent promptly upon Debtor gaining any rights therein, in suitable form for transfer by delivery or accompanied by duly executed stock powers or instruments of transfer or assignments in blank, all in form and substance reasonably acceptable to the Agent.", "snippet_links": [{"key": "certificates-or-instruments", "type": "clause", "offset": [4, 31]}, {"key": "the-pledged-shares", "type": "clause", "offset": [59, 77]}, {"key": "the-agent", "type": "clause", "offset": [131, 140]}, {"key": "promptly-upon", "type": "clause", "offset": [141, 154]}, {"key": "for-transfer", "type": "definition", "offset": [207, 219]}, {"key": "duly-executed", "type": "clause", "offset": [250, 263]}, {"key": "stock-powers", "type": "definition", "offset": [264, 276]}, {"key": "transfer-or-assignments", "type": "clause", "offset": [295, 318]}, {"key": "form-and-substance", "type": "clause", "offset": [336, 354]}], "hash": "8b34c057caaa492ab0addc6470f26225", "id": 4}, {"samples": [{"hash": "isl3bmRGz2c", "uri": "/contracts/isl3bmRGz2c#pledged-shares", "label": "Pledge Agreement (Foamex Fibers Inc)", "score": 18.0, "published": true}], "size": 8, "snippet": "Common Stock --------------------------------------- Authorized Outstanding % of Shares Pledged Share Issuer Shares Shares Pledged -------------------- ---------- ----------- -----------", "snippet_links": [{"key": "common-stock", "type": "definition", "offset": [0, 12]}, {"key": "issuer-shares", "type": "clause", "offset": [102, 115]}], "hash": "89f888ebaaeba6d978e7921f5d2805ad", "id": 8}, {"samples": [{"hash": "lUQEQeYhTpV", "uri": "/contracts/lUQEQeYhTpV#pledged-shares", "label": "Pledge Agreement (Western Gas Resources Inc)", "score": 21.0, "published": true}, {"hash": "j2pMyW8qU6g", "uri": "/contracts/j2pMyW8qU6g#pledged-shares", "label": "Subsidiary Pledge Agreement (Western Gas Resources Inc)", "score": 21.0, "published": true}, {"hash": "cXid9rettPk", "uri": "/contracts/cXid9rettPk#pledged-shares", "label": "Stock Pledge Agreement (Western Gas Resources Inc)", "score": 21.0, "published": true}], "size": 7, "snippet": "All of the following, whether now or hereafter existing, which are owned by Debtor or in which Debtor otherwise has any rights: the shares of stock of the Subsidiaries of Debtor described in Exhibit A hereto and all certificates representing such shares, all options and other rights, contractual or otherwise, at any time existing with respect to such shares, and all dividends, cash, instruments and other property now or hereafter received, receivable or otherwise distributed in respect of or in exchange for any or all of such shares (any and all such shares, certificates, options, rights, dividends, cash, instruments and other property being herein called the \u201cPledged Shares\u201d).", "snippet_links": [{"key": "by-debtor", "type": "clause", "offset": [73, 82]}, {"key": "shares-of-stock", "type": "clause", "offset": [132, 147]}, {"key": "the-subsidiaries-of", "type": "clause", "offset": [151, 170]}, {"key": "exhibit-a", "type": "clause", "offset": [191, 200]}, {"key": "options-and-other-rights", "type": "clause", "offset": [259, 283]}, {"key": "at-any-time", "type": "clause", "offset": [311, 322]}, {"key": "with-respect-to", "type": "clause", "offset": [332, 347]}, {"key": "other-property", "type": "clause", "offset": [402, 416]}, {"key": "otherwise-distributed", "type": "definition", "offset": [458, 479]}, {"key": "in-respect-of", "type": "definition", "offset": [480, 493]}, {"key": "in-exchange", "type": "clause", "offset": [497, 508]}], "hash": "806fc6f12c5780a974bc5f3d29d4bdf5", "id": 9}, {"samples": [{"hash": "iZCyaTZooiI", "uri": "/contracts/iZCyaTZooiI#pledged-shares", "label": "Share Pledge Agreement (RenPac Holdings Inc.)", "score": 23.1054077148, "published": true}, {"hash": "el0ExJTXum2", "uri": "/contracts/el0ExJTXum2#pledged-shares", "label": "Share Pledge Agreement (RenPac Holdings Inc.)", "score": 23.1054077148, "published": true}], "size": 7, "snippet": "2.1 The Company has a nominal share capital (Stammkapital) of DM 17,000,000 (in words: Deutsche \u2587\u2587\u2587\u2587 seventeen million) which consists of one share (the \u201cExisting Shares\u201d).\n2.2 The Pledgor is the owner of the Existing Shares and is registered as such in the shareholders list (Gesellschafterliste) of the Company as filed (aufgenommen) with the commercial register (Handelsregister), a copy of which is attached as Schedule 2 (Copy of Shareholders List).", "snippet_links": [{"key": "the-company-has", "type": "definition", "offset": [4, 19]}, {"key": "share-capital", "type": "definition", "offset": [30, 43]}, {"key": "one-share", "type": "definition", "offset": [138, 147]}, {"key": "existing-shares", "type": "definition", "offset": [154, 169]}, {"key": "the-pledgor", "type": "definition", "offset": [177, 188]}, {"key": "the-owner", "type": "definition", "offset": [192, 201]}, {"key": "the-shareholders", "type": "clause", "offset": [254, 270]}, {"key": "of-the-company", "type": "clause", "offset": [298, 312]}, {"key": "commercial-register", "type": "definition", "offset": [345, 364]}, {"key": "a-copy-of", "type": "clause", "offset": [384, 393]}, {"key": "schedule-2", "type": "definition", "offset": [415, 425]}], "hash": "e50022c5c1a82f29f90346853f3be97b", "id": 10}], "next_curs": "ClcSUWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjMLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhdwbGVkZ2VkLXNoYXJlcyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 635, "parents": [["representations-and-warranties", "Representations and Warranties"], ["pledge-and-grant-of-security-interest", "Pledge and Grant of Security Interest"], ["miscellaneous", "Miscellaneous"], ["special-provisions-relating-to-certain-collateral", "Special Provisions Relating to Certain Collateral"], ["further-assurances-remedies", "Further Assurances; Remedies"]], "children": [["duly-authorized-and-validly-issued", "Duly Authorized and Validly Issued"], ["valid-title-no-liens-no-restrictions", "Valid Title; No Liens; No Restrictions"], ["description-of-pledged-shares-ownership", "Description of Pledged Shares; Ownership"], ["", ""], ["dividends", "Dividends"]], "title": "Pledged Shares", "id": "pledged-shares", "related": [["pledged-stock", "Pledged Stock", "Pledged Stock"], ["pledged-stock-stock-powers-pledged-notes", "Pledged Stock; Stock Powers; Pledged Notes", "Pledged Stock; Stock Powers; Pledged Notes"], ["pledged-securities", "Pledged Securities", "Pledged Securities"], ["pledged-equity-interests", "Pledged Equity Interests", "Pledged Equity Interests"], ["pledged-stock-stock-powers", "Pledged Stock; Stock Powers", "Pledged Stock; Stock Powers"]], "related_snippets": [], "updated": "2026-04-01T04:22:47+00:00", "also_ask": ["What are the essential representations and warranties required for pledged shares?", "How can the clause be structured to maximize enforcement in case of default?", "What are the key risks if the pledged shares are not freely transferable or subject to third-party rights?", "How does this clause compare to security interests in other asset classes under local law?", "What are the main enforceability hurdles courts have identified with pledged share arrangements?"], "drafting_tip": "Specify the number and class of pledged shares to prevent disputes; identify the pledgor and pledgee to clarify obligations; outline transfer restrictions to ensure enforceability.", "explanation": "The Pledged Shares clause defines the shares of stock that are being used as collateral in a secured transaction or agreement. It typically specifies which shares are subject to the pledge, how they are to be held or controlled during the term of the agreement, and the rights of the pledgee (the secured party) in the event of default by the pledgor (the owner of the shares). For example, it may require the pledgor to deliver share certificates to the pledgee or restrict the transfer of the pledged shares. The core function of this clause is to secure the obligations of the pledgor by granting the pledgee a security interest in the shares, thereby reducing the pledgee's risk if the pledgor fails to meet their obligations."}, "json": true, "cursor": ""}}