Security and Pledge. 2.1 As security for the prompt and full satisfaction of all terms, conditions, covenants, recitals, stipulations and agreements contained in the Obligations, Debtor hereby pledges and assigns the Shares to Secured Party and grants Secured Party a security interest therein. Upon an Event of Default, Secured Party is entitled to the use and possession of the Shares to the full extent necessary to protect its lien hereunder.
Appears in 4 contracts
Samples: Stock Purchase Agreement (RSL Communications PLC), Stock Purchase Agreement (RSL Communications PLC), Stock Pledge and Security Agreement (RSL Communications PLC)