Common use of Provision of Collateral Clause in Contracts

Provision of Collateral. The Company is currently party to several convertible debentures issued to Cornell Capital Partners, LP, Xxxxxxx Xxxxxxx, and Xxxxxxx Xxxxxxxx ("Debenture Holders"). These debentures are currently secured by the stock of the DRVW Subsidiaries used in connection with the prior business of the Company. The Company shall use its best efforts to provide the Debenture Holders with sufficient collateral to obtain the release of the stock of the DRVW Subsidiaries used as collateral for the Debenture Holders.

Appears in 3 contracts

Samples: Share Purchase Agreement (Directview Inc), Subsidiary Stock Purchase Agreement (Directview Holdings Inc), Subsidiary Stock Purchase Agreement (Directview Inc)

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Provision of Collateral. The Company is currently party to several convertible debentures issued to Cornell Capital Partners, LP, Xxxxxxx XxxxxxxMichele Ralston, and Xxxxxxx Ricxxxx Xxxxxxxx ("Debenture HoldersDebenxxxx Xxxxxxx"). These debentures are currently secured by the stock of the DRVW Subsidiaries used in connection with the prior business of the Company. The Company shall use its best efforts to provide the Debenture Holders with sufficient collateral to obtain the release of the stock of the DRVW Subsidiaries used as collateral for the Debenture Holders.

Appears in 1 contract

Samples: Subsidiary Stock Purchase Agreement (GS Energy CORP)

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