PURPOSE OF THE PLEDGE Sample Clauses

PURPOSE OF THE PLEDGE. The Pledge hereunder is constituted in order to secure the prompt and complete satisfaction of any and all Obligations. The Pledge shall also cover any future extension of the Obligations and the Pledgor herewith expressly agrees that the provisions of Section 1210 para 1 sentence 2 of the German Civil Code (Bürgerliches Gesetzbuch) shall not apply to this Agreement.
Sample 1Sample 2Sample 3See All (20)
AutoNDA by SimpleDocs
PURPOSE OF THE PLEDGE. The Share Pledge shall serve as continuing security for the payment and discharge of the Secured Obligations.
Sample 1Sample 2
PURPOSE OF THE PLEDGE. The Pledge shall serve as security for the due and punctual satisfaction of the Secured Obligations.
Sample 1
PURPOSE OF THE PLEDGE. The Pledge hereunder is constituted in order to secure the prompt and complete satisfaction of all Secured Obligations. The Pledge shall also cover any future extension of the Secured Obligations.
Sample 1
PURPOSE OF THE PLEDGE. 2.1 The pledge hereunder is constituted in order to secure to the Grantees, by virtue of a pledge over the Grantor's Quotas in the Company, the prompt payment by the Grantor when due of all Secured Obligations, with due regard for the terms and conditions thereof, provided that neither the security constituted by this Agreement nor any other provisions of this Agreement shall extend to or include any liability or sum which would, but for this proviso, cause such security, or provision to be unlawful or prohibited by any applicable law (including, for the avoidance of doubt, Section 151 of the UK Companies Act 1985).
Sample 1
PURPOSE OF THE PLEDGE. The Pledge shall serve as collateral for all present and future, actual or contingent obligations of the Pledgor towards the Pledgee(s) [pursuant to Clause 8.2 (Indemnification by the Borrowers) of the Facilities Agreement in respect of Bank Guarantees (as defined in the Facilities Agreement)]1/[ pursuant to Clause 8.2 (Indemnification by the Borrowers) of the Facilities Agreement in respect of Bank Guarantees (as defined in the Facilities Agreement and Clause 30.17 (Parallel debt) of the Facilities Agreement in respect of the Parallel Obligations (as defined in the Facilities Agreement)]2 (the "Secured Obligations").
Sample 1
PURPOSE OF THE PLEDGE. The pledges created hereunder are constituted in order to secure (zur Besicherung) the prompt and complete satisfaction of all Secured Obligations. The pledges shall also cover any future extension of the Secured Obligations and the Pledgor herewith expressly agrees that the provisions of section 1210 para. 1 sentence 2 of the German Civil Code (Biirgerliches Gesetzbuch) shall not apply to this Agreement.
Sample 1
AutoNDA by SimpleDocs

Related to PURPOSE OF THE PLEDGE

  • Exercise of the Pledge 8.1 The Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge.

  • Term of the Pledge shall refer to the term set forth in Section 3 of this Agreement.

  • Purpose of the Plan The Plan is intended to advance the best interests of the Company, its Affiliates and its stockholders by providing those persons who have substantial responsibility for the management and growth of the Company and its Affiliates with additional performance incentives and an opportunity to obtain or increase their proprietary interest in the Company, thereby encouraging them to continue in their employment or affiliation with the Company or its Affiliates.

  • The Pledge As collateral security for the timely and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of any or all of the payments due by Party C, including without limitation the consulting and services fees payable to the Pledgee under the Business Cooperation Agreement, Pledgor hereby pledges to Pledgee a first security interest in all of Pledgor’s right, title and interest, whether now owned or hereafter acquired by Pledgor, in the Equity Interest of Party C.

  • ENFORCEMENT OF THE PLEDGE 6.1 If (i) an Enforcement Event has occurred and is continuing and (ii) the requirements set forth in Sections 1273 para 2, 1204 et seq. of the German Civil Code with regard to the enforcement of the Pledges are met (Pfandreife), in particular, if any of the Obligations have become due and payable, then in order to enforce the Pledges, the Collateral Agent (acting on the instructions of the Secured Parties) may at any time thereafter avail itself of all rights and remedies that a pledgee has against a pledgor under the laws of the Federal Republic of Germany.

  • Purpose of the Loan The purpose of the Loan is to provide financing for the Borrower’s activities and investments.

  • Purpose of the Partnership The purpose of the Partnership is to acquire, construct, own and operate the Apartment Housing in order to provide, in part, Tax Credits to the Partners in accordance with the provisions of the Code and the Treasury Regulations applicable to LIHTC and to sell the Apartment Housing. The Partnership shall not engage in any business or activity which is not incident to the attainment of such purpose.

  • of the Pledge Agreement Upon the occurrence of a Termination Event, the Company shall promptly but in no event later than two Business Days thereafter give written notice to the Agent, the Collateral Agent and to the Holders, at their addresses as they appear in the Register.

  • PURPOSE OF THE TRUST The purpose of the Trust shall be to (a) manage, conduct, operate and carry on the business of an investment company; (b) subscribe for, invest in, reinvest in, purchase or otherwise acquire, hold, pledge, sell, assign, transfer, exchange, distribute or otherwise deal in or dispose of any and all sorts of property, tangible or intangible, including but not limited to Securities of any type whatsoever, whether equity or nonequity, of any issuer, evidences of indebtedness of any person and any other rights, interest, instruments or property of any sort to exercise any and all rights, powers and privileges of ownership or interest in respect of any and all such investment of every kind and description, including without limitation, the right to consent and otherwise act with respect thereto, with power to designate one or more Persons to exercise any of said rights, powers and privileges in respect of any of said investments. The Trustees shall not be limited by any law limiting the investments which may be made by fiduciaries.

  • Purpose of the Agreement ‌ The purpose of this Agreement is to authorize PDL NPDL to charter space to PFLG in the Trade (as hereinafter defined).

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