Common use of Pledged Stock; Stock Powers; Acknowledgment and Consent; Pledged Notes Clause in Contracts

Pledged Stock; Stock Powers; Acknowledgment and Consent; Pledged Notes. The First Lien Credit Agent, on behalf of itself, for the benefit of the First Lien Secured Parties, and as agent and bailee for the Collateral Trustee, for the benefit of the Secured Parties, shall have received (i) the certificates representing the shares of Capital Stock of the Borrower's Subsidiaries pledged pursuant to the Security Agreement, together with an undated stock power for each such certificate executed in blank by a duly authorized officer of the pledgor thereof, and (ii) each promissory note pledged by the Borrower and the Guarantors pursuant to the Security Agreement endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank satisfactory to the First Lien Credit Agent) by the pledgor thereof;

Appears in 1 contract

Samples: Term Loan Agreement (Venoco, Inc.)

AutoNDA by SimpleDocs

Pledged Stock; Stock Powers; Acknowledgment and Consent; Pledged Notes. The First Lien Credit Agent, on behalf of itself, for the benefit of the First Lien Secured Parties, and as agent and bailee for the Collateral Trustee, for the benefit of the Secured Parties, shall have received (i) the certificates representing the shares of Capital Stock of the Borrower's Company’s Subsidiaries pledged pursuant to the Security Agreement, together with an undated stock power for each such certificate executed in blank by a duly authorized officer of the pledgor thereof, and (ii) each promissory note pledged by the Borrower Company and the Guarantors pursuant to the Security Agreement endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank satisfactory to the First Lien Credit Agent) by the pledgor thereof;; and

Appears in 1 contract

Samples: Term Loan Agreement (Venoco, Inc.)

Pledged Stock; Stock Powers; Acknowledgment and Consent; Pledged Notes. The First Lien Credit Agent, on behalf of itself, for the benefit of the First Lien Secured Parties, and as agent and bailee for the Collateral Trustee, for the benefit of the Secured Parties, shall have received (i) the certificates representing the shares of Capital Stock of the Borrower's ’s Subsidiaries pledged pursuant to the Security Agreement, together with an undated stock power for each such certificate executed in blank by a duly authorized officer of the pledgor thereof, and (ii) each promissory note pledged by the Borrower and the Guarantors pursuant to the Security Agreement endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank satisfactory to the First Lien Credit Agent) by the pledgor thereof;

Appears in 1 contract

Samples: Term Loan Agreement (Venoco, Inc.)

AutoNDA by SimpleDocs

Pledged Stock; Stock Powers; Acknowledgment and Consent; Pledged Notes. The First Lien Credit Agent, on behalf of itself, for the benefit of the First Lien Secured Parties, and as agent and bailee for the Collateral Trustee, for the benefit of the Secured Parties, shall have received (i) the certificates representing the shares of Capital Stock of the BorrowerCompany's Subsidiaries pledged pursuant to the Security Agreement, together with an undated stock power for each such certificate executed in blank by a duly authorized officer of the pledgor thereof, and (ii) each promissory note pledged by the Borrower Company and the Guarantors pursuant to the Security Agreement endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank satisfactory to the First Lien Credit Agent) by the pledgor thereof;; and

Appears in 1 contract

Samples: Term Loan Agreement (Venoco, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.