Common use of SECURITY FOR THE SHAREHOLDERS' INDEMNIFICATION OBLIGATION Clause in Contracts

SECURITY FOR THE SHAREHOLDERS' INDEMNIFICATION OBLIGATION. As security for the agreement by the Shareholders to indemnify and hold Republic harmless as described in this Article at the Closing, Republic shall set aside and hold certificates representing the Held Back Shares issued pursuant to this Agreement. The Shareholders hereby grant Republic a first priority security interest in the Held Back Shares. Republic may set off against the Held Back Shares any Indemnifiable Damages for which the Shareholders may be responsible pursuant to this Agreement, subject, however, to the following terms and conditions:

SECURITY FOR THE SHAREHOLDERS' INDEMNIFICATION OBLIGATION. As security for the agreement by the Shareholders to indemnify and hold Republic harmless as described in this Article at the Closing, the Shareholders do hereby grant a security interest in, pledge and instruct Republic shall to set aside and hold certificates representing the Held Back Shares issued pursuant to this Agreement. The Shareholders hereby grant Republic a first priority security interest in the Held Back Shares. Republic may set off against the Held Back Shares (or against any Cash Collateral (defined below)) any Indemnifiable Damages for which the Shareholders may be responsible pursuant to this Agreement, subject, however, to the following terms and conditions:

SECURITY FOR THE SHAREHOLDERS' INDEMNIFICATION OBLIGATION. As security for the agreement by the Shareholders to indemnify and hold Republic harmless as described in this Article IX at the Closing, Republic shall set aside and hold certificates representing the Held Back Shares issued pursuant to this Agreement. The Shareholders hereby grant Republic a first priority security interest in the Held Back Shares. Republic may set off against the Held Back Shares any Indemnifiable Damages or other damages hereunder for which the Shareholders may be responsible pursuant to this Agreement, Agreement subject, however, to the following terms and conditions: